Novant Medical Group Inc
- Assets
- $420.6m
- Revenue
- $1.2b
- Investments
- $0.0
- Employees
- 8,280
- Location
- Winston Salem, NC
- Founding
- 07/1987
- Data as of
- 12/2021
- EIN
- 58-1728803
Organization Overview
Novant Medical Group Inc, operating under the name Novant Health Medical Group, is located in Winston Salem, NC. The organization was established in 1987. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 12/2021, Novant Health Medical Group employed 8,280 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novant Health Medical Group 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 Medical Group generated $1.2b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.3b during the year ending 12/2021. While expenses have increased by 7.5% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
NOVANT MEDICAL GROUP OFFERS VARIOUS PHYSICIAN SERVICES TO THE COMMUNITY AT MULTIPLE LOCATIONS. NOVANT MEDICAL GROUP PROVIDED 4,448,896 PATIENT ENCOUNTERS DURING 2021. THE ORGANIZATION'S OPERATIONS SERVE THE COMMUNITY BY PROVIDING ACCESS TO MUCH NEEDED HEALTHCARE SERVICES REGARDLESS OF THE PATIENTS' ABILITY TO PAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Homesley Howard Jr Orthopaedist | 45 | $2,246,543 | |
Back Adam Neurosurgeon | 45 | $1,930,750 | |
Garcia Joseph Family Practitioner | 45 | $1,819,705 | |
Appel James Plastic And Reconstructive Sur | 45 | $1,725,130 | |
Bernstein Derek Orthopaedist | 45 | $1,669,814 | |
Howard John SVP & COO Physician Network | Officer | 50 | $793,317 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vannoy Construction Construction Services | 12/30/21 | $20,038,066 |
Laboratory Corporation Of America Holdin Lab Services | 12/30/21 | $4,192,110 |
Red Ventures Llc Marketing Services | 12/30/21 | $3,298,952 |
Dps Telecom Services Remote Monitoring Services | 12/30/21 | $3,796,592 |
Moonlighting Solutions Llc Staffing Services | 12/30/21 | $2,548,755 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,299,466 |
| Government grants | $5,451,714 |
| 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 | $6,751,180 |
| Total Program Service Revenue | $1,167,162,287 |
| Investment income | $251,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,028,956 |
| Net Gain/Loss on Asset Sales | -$309,495 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,176,984,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,899 |
| Grants and other assistance to domestic individuals. | $841,889 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,620,928 |
| Compensation of current officers, directors, key employees. | $1,620,928 |
| Compensation to disqualified persons | $72 |
| Other salaries and wages | $800,723,336 |
| Pension plan accruals and contributions | $27,137,203 |
| Other employee benefits | $82,109,342 |
| Payroll taxes | $41,328,485 |
| 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 | $0 |
| Fees for services: Other | $29,527,812 |
| Advertising and promotion | $1,107,620 |
| Office expenses | $11,663,213 |
| Information technology | $1,483,175 |
| Royalties | $0 |
| Occupancy | $73,447,976 |
| Travel | $1,422,998 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $383,309 |
| Interest | $3,222,825 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,473,724 |
| Insurance | $11,587,536 |
| All other expenses | $2,834,486 |
| Total functional expenses | $1,280,252,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,655 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,761,163 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,880,667 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,419 |
| Net Land, buildings, and equipment | $92,795,938 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,921,560 |
| Other assets | $228,128,285 |
| Total assets | $420,634,687 |
| Accounts payable and accrued expenses | $116,754,790 |
| 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 | $1,547,199,411 |
| Total liabilities | $1,663,954,201 |
| Net assets without donor restrictions | -$1,243,319,514 |
| 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 | $420,634,687 |
Grants Awarded
Over the last fiscal year, Novant Medical Group Inc has awarded $38,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: COMMUNITY OUTREACH | $31,000 |
NORTH CAROLINA INSTITUTE OF MEDICINE PURPOSE: COMMUNITY OUTREACH | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Novant Medical Group Inc has recieved totaling $1,299,466.
| Awarding Organization | Amount |
|---|---|
Presbyterian Hospital Foundation Winston Salem, NC PURPOSE: TO SUPPORT NH MEDICAL GROUP | $1,248,303 |
Brunswick Novant Medical Center Foundation Winston Salem, NC PURPOSE: TO SUPPORT NOVANT MEDICAL GROUP | $39,950 |
Forsyth Medical Center Foundation Winston Salem, NC PURPOSE: TO SUPPORT NOVANT MEDICAL GROUP, INC. | $11,213 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dialysis Clinic Inc Nashville, TN | $782,995,317 | $765,633,140 |
Mcv Associated Physicians Richmond, VA | $296,921,285 | $539,983,630 |
Duke University Affiliated Physicans Inc Durham, NC | $86,448,101 | $171,120,861 |
Wellmont Medical Associates Inc Johnson City, TN | $20,115,154 | $123,355,433 |
Moses Cone Physician Services Inc Greensboro, NC | $50,601,187 | $84,107,412 |
Cooperative Healthcare Services Inc Brunswick, GA | $14,369,691 | $76,135,784 |
Ut Le Bonheur Pediatric Specialists Inc Memphis, TN | $10,488,131 | $58,933,754 |
Ut Medical Group Inc Memphis, TN | $46,840,013 | $90,614,625 |
Columbus Ambulatory Healthcare Services Inc Columbus, GA | $18,745,132 | $56,730,449 |
Pediatric Specialists Of Virginia Llc Fairfax, VA | $27,579,335 | $38,520,642 |
Wellmont Cardiology Services Johnson City, TN | $7,928,390 | $49,063,818 |
Careconnect Health Inc Richland, GA | $64,016,478 | $69,742,586 |