Presbyterian Hospital Foundation
- Assets
- $114.5m
- Revenue
- $20.8m
- Investments
- $23.5m
- Employees
- 7
- Location
- Winston Salem, NC
- Founding
- 12/1980
- Data as of
- 12/2021
- EIN
- 58-1413074
Organization Overview
Presbyterian Hospital Foundation, operating under the name Novant Health Presbyterian Medical Center Foundation, is located in Winston Salem, NC. The organization was established in 1980. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Novant Health Presbyterian Medical Center Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novant Health Presbyterian Medical Center Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Novant Health Presbyterian Medical Center Foundation generated $20.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $28.9m during the year ending 12/2021. While expenses have increased by 26.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Novant Health Presbyterian Medical Center Foundation has awarded 155 individual grants totaling $57,457,684. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRESBYTERIAN HOSPITAL FOUNDATION RECEIVES AND ADMINISTERS CHARITABLE CONTRIBUTIONS AND OTHER FUNDS FOR THE BENEFIT OF THE PRESBYTERIAN HOSPITAL AND THE NON-PROFIT TAX-EXEMPT SUBSIDIARIES OF NOVANT HEALTH SOUTHERN PIEDMONT REGION, LLC. THE FUNDS ASSIST THESE ENTITIES IN PROVIDING MEDICAL CARE AS WELL AS EDUCATIONAL AND RESEARCH ACTIVITIES FOR THE BENEFIT OF THE CHARLOTTE MECKLENBURG NC COMMUNITY AND SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clifford Jennifer Executive Director | Officer | 50 | $121,818 |
Burton Nichole Philanthropy Manager | 45 | $102,152 | |
Trakas Justin Philanthropy Manager | 45 | $101,247 | |
Funderburg Alex Chair | OfficerTrustee | 0.2 | $0 |
Greer Charles Treasurer | OfficerTrustee | 0.2 | $0 |
Hatcher Kate Vice Chair | OfficerTrustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $531,109 |
| Related organizations | $3,152 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,683,856 |
| Noncash contributions included in lines 1a–1f | $736,362 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,218,117 |
| Total Program Service Revenue | $0 |
| Investment income | $1,213,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,476,047 |
| Net Income from Fundraising Events | -$72,528 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,835,214 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,863,936 |
| Grants and other assistance to domestic individuals. | $224,788 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $128,767 |
| Compensation of current officers, directors, key employees. | $128,767 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $460,714 |
| Pension plan accruals and contributions | $11,029 |
| Other employee benefits | $39,127 |
| Payroll taxes | $44,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $122,815 |
| Fees for services: Other | $86,941 |
| Advertising and promotion | $22,488 |
| Office expenses | $23,906 |
| Information technology | $648 |
| Royalties | $0 |
| Occupancy | $613 |
| Travel | $3,708 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $947 |
| Interest | $22,957 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,083 |
| Insurance | $1,855 |
| All other expenses | $255 |
| Total functional expenses | $28,879,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,059,103 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,984,956 |
| Accounts receivable, net | $887 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $46,245 |
| Investments—publicly traded securities | $75,952,598 |
| Investments—other securities | $23,469,008 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,531 |
| Total assets | $114,547,328 |
| Accounts payable and accrued expenses | $43,259 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,694,051 |
| Total liabilities | $20,737,310 |
| Net assets without donor restrictions | $52,927,828 |
| Net assets with donor restrictions | $40,882,190 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $114,547,328 |
Grants Awarded
Over the last fiscal year, Presbyterian Hospital Foundation has awarded $26,860,260 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Winston Salem, NC PURPOSE: TO SUPPORT NH SYSTEM HOSPITALS | $20,426,070 |
Winston Salem, NC PURPOSE: TO SUPPORT NH PRESBYTERIAN MEDICAL CENTER | $4,567,955 |
Winston Salem, NC PURPOSE: TO SUPPORT NH MEDICAL GROUP | $1,248,303 |
Charlotte, NC PURPOSE: COMMUNITY OUTREACH | $145,037 |
Charlotte, NC PURPOSE: COMMUNITY OUTREACH | $125,000 |
Charlotte, NC PURPOSE: COMMUNITY OUTREACH | $125,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Presbyterian Hospital Foundation has recieved totaling $366,723.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $170,482 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $47,250 |
National Breast Cancer Foundation Inc Frisco, TX PURPOSE: SCREENING & DIAGNOSTICS | $30,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $21,000 |
Ovarian Cancer Research Fund Inc New York, NY PURPOSE: EDUCATION GRANT | $20,000 |
The North Carolina Adult Soccer Association Greensboro, NC PURPOSE: FREE MAMOGRAMS FOR UNDERINSURED WOMEN | $15,000 |
Endowment Analysis
| Beg. Balance | $53,985,843 |
| Earnings | $2,499,897 |
| Net Contributions | $10,665,283 |
| Other Expense | $26,162,472 |
| Grants | $106,361 |
| Ending Balance | $40,882,190 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maryview Hospital Llc Suffolk, VA | $0 | $126,392,609 |
Leconte Medical Center Knoxville, TN | $91,240,969 | $144,185,798 |
Columbus Regional Healthcare System Whiteville, NC | $197,969,739 | $134,524,668 |
Harnett Health System Inc Dunn, NC | $119,557,525 | $137,837,447 |
Lexington Medical Center Lexington, NC | $126,269,827 | $125,126,706 |
Bon Secours-Richmond Community Hospital Richmond, VA | $200,107,508 | $168,768,277 |
Uva Culpeper Medical Center Culpeper, VA | $139,556,597 | $116,029,117 |
Crisp Regional Hospital Inc Cordele, GA | $164,464,771 | $118,380,453 |
Morristown Hamblen Hosp Knoxville, TN | $71,835,132 | $127,114,372 |
Upson County Hospital Inc Thomaston, GA | $251,563,523 | $131,936,777 |
Novant Health Thomasville Medical Center Llc Winston Salem, NC | $97,078,773 | $115,006,947 |
Meadows Regional Medical Center Inc Vidalia, GA | $156,126,750 | $94,571,212 |