Anc Healthcare Inc
- Assets
- $115.8m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Winter Park, FL
- Founding
- 03/1982
- Data as of
- 09/2023
- EIN
- 58-1450888
Organization Overview
Anc Healthcare Inc is located in Winter Park, FL. The organization was established in 1982. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Anc Healthcare Inc 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 09/2023, Anc Healthcare Inc generated $11.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.2%) each year. All expenses for the organization totaled $4.8m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (23.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Anc Healthcare Inc has awarded 82 individual grants totaling $1,695,439,108. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE FORM 990, PART III, LINE 1.
Describe the Organization's Program Activity:
THE ENTITY SOLD THE OPERATING FACILITIES OF THE HEALTH SYSTEM AND A SUBSTANTIAL PORTION OF THE ASSETS, INCLUDING THOSE OF ITS SUBSIDIARIES, IN A PRIOR YEAR. THE ORGANIZATION CONTINUES TO MAINTAIN OVERSITE OF ITS SUBSIDIARIES DURING THE PROCESS OF LIQUIDATION AND EVENTUAL TERMINATION. CURRENT ACTIVITY INCLUDES WINDING DOWN THE REMAINING AFFAIRS OF THE HEALTH SYSTEM, INCLUDING COLLECTION AND SETTLEMENT OF OUTSTANDING RECEIVABLES AND LIABILITIES, AND DISTRIBUTION OF ASSETS. THE ENTITY IS IN THE PROCESS OF WINDING DOWN FOR EVENTUAL TERMINATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John W Garrett MD Chair | OfficerTrustee | 2 | $0 |
Thomas Maher Vice Chair | OfficerTrustee | 2 | $0 |
Suzanne S Deferie Director | Trustee | 1 | $0 |
Jeffrey Rankin Director | Trustee | 1 | $0 |
David Worley Director | Trustee | 1 | $0 |
Neil Luria Ceo/chief Wind-Down Office | Officer | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cornerstone Research Consultant | 9/29/23 | $325,027 |
Solic Capital Advisors Llc Wind Down Consulting | 9/29/23 | $419,104 |
Faegre Drinker Biddle & Reath Llp Legal | 9/29/23 | $2,079,961 |
Bradley Arant Boult Cummings Legal | 9/29/23 | $253,271 |
Kpmg Llp Financial Audit Fees | 9/29/23 | $150,300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,823,066 |
| Investment income | $4,826,642 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,055,076 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $416,865 |
| Fees for services: Legal | $2,385,516 |
| Fees for services: Accounting | $299,549 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,030 |
| Fees for services: Other | $458,801 |
| Advertising and promotion | $0 |
| Office expenses | $33,527 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,814 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $731,478 |
| All other expenses | $209 |
| Total functional expenses | $4,779,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $110,644,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,820,182 |
| 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 | $1,387,381 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,958,021 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $115,810,337 |
| Accounts payable and accrued expenses | $345,590 |
| 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 | $28,588,250 |
| Total liabilities | $28,933,840 |
| Net assets without donor restrictions | $86,876,497 |
| Net assets with donor restrictions | $0 |
| 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 | $115,810,337 |
Grants Awarded
Over the last fiscal year, Anc Healthcare Inc has awarded $185,009,964 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
WNC BRIDGE FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000,000 |
PISGAH HEALTH FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000,000 |
GATEWAY WELLNESS FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000,000 |
NANTAHALA HEALTH FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000,000 |
DOGWOOD HEALTH TRUST PURPOSE: GENERAL PURPOSE | $155,009,964 |
HIGHLANDS CASHIERS HEALTH FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000,000 |