Carolina Healthcare Associates Inc
DBA: NHRMC PHYSICIANS GROUP
SEE SCHEDULE O
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$93.3M
Total Expenses
$93.2M
Net Assets
$26.5M
Employees
1,069
Volunteers
3
Program Expense Ratio
100.0%
This nonprofit profile presents IRS Form 990 tax filing data for Carolina Healthcare Associates Inc (EIN: 56-2049697), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Carolina Healthcare Associates Inc is a 501(c)(3) nonprofit headquartered in WILMINGTON, NC, founded in 1997. It is classified under NTEE code E21 (Community Health Systems), within the Healthcare category. The organization has held tax-exempt status since 2000. In its 2024 filing, the organization reported $93.3M in total revenue, a 16.8% increase from the prior year, and $93.2M in total expenses. The organization employed 1,069 people and engaged 3 volunteers. PAMELA OLIVER MD, PRESIDENT (FR 11/20/24), is the highest-compensated individual at $2,064,352. The organization runs 1 program, totaling $93.2M in program expenses. 4 of 6 recommended governance policies are in place. Executive benefits include first-class travel, companion travel, housing allowance, discretionary spending.
Carolina Healthcare Associates Inc is classified under NTEE code E21 (Community Health Systems), which falls within the Healthcare category. Its foundation type is 17.
Programs(Tax Year 2024)
1 record
Carolina Healthcare Associates Inc operates 1 program, with total program expenses of $93.2M. Carolina Healthcare Associates Inc's largest program accounts for 100% of total program spending.
THE ORGANIZATION PROVIDES HEALTHCARE SERVICES TO THE RESIDENTS OF NEW HANOVER COUNTY AND SURROUNDING AREAS. BEGINNING IN 2022, THE ORGANIZATION BEGAN A MULTI-STEP PROCESS OF UNWINDING TOWARD THE PLAN OF DISSOLUTION. HEALTHCARE REVENUE EARNED BY HEALTHCARE PROFESSIONALS OF THE FILING ORGANIZATION IS COLLECTED AND RECORDED BY AN AFFILIATED ORGANIZATION WITHIN THE NOVANT HEALTH SYSTEM. ASSETS OF THE FILING ORGANIZATION WERE SOLD TO THE SAME AFFLILIATED ORGANIZATION. EMPLOYEES OF THE FILING ORGANIZATION AND THEIR RELATED EXPENSES WILL BE TRANSITIONED TO THE SAME AFFLIATED ORGANIZATION COLLECTING HEALTHCARE REVENUE IN THE TWO FOLLOWING TAX YEARS.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, Carolina Healthcare Associates Inc's revenue has declined from $223.9M to $93.3M, a 58.3% decrease. Program expenses represent 100% of total spending.
Revenue increased 16.8% year-over-year, while expenses grew 16.7%. the organization added 48 employees.
Carolina Healthcare Associates Inc derives 2% from program services.
Revenue grew by 16.8% and expenses grew by 16.7% year over year.
Over 6 filings from 2019–2024, Carolina Healthcare Associates Inc declined revenue from $223.9M to $93.3M (-58.3%) while maintaining a program expense ratio of 100%. During this period, the organization grew from 891 to 1,069 employees.
Carolina Healthcare Associates Inc holds $30.0M in total assets against $3.5M in liabilities (debt-to-asset ratio of 12%). The organization has 3.4 months of operating reserves. Cash and equivalents of $15.3M cover approximately 2.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $93.3M | $0 | $0 | $1.7M | $0 |
| 2023 | $79.9M | $7K | $0 | $0 | $0 |
| 2022 | $70.8M | $714K | $714K | $768K | $19K |
| 2021 | $17.8M | $180K | $180K | $1.5M | $0 |
| 2020 | $143.4M | $818K | $818K | $121.5M | $343 |
| 2019 | $223.9M | $51.3M | $3.8M | $172.6M | $-6K |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $93.2M | $93.2M | $0 | $0 | $0 |
| 2023 | $79.9M | $79.9M | $0 | $0 | $0 |
| 2022 | $70.8M | $70.8M | $0 | $0 | $0 |
| 2021 | $17.8M | $17.8M | $0 | $0 | $0 |
| 2020 | $175.4M | $175.4M | $0 | $0 | $1K |
| 2019 | $213.7M | $213.7M | $0 | $0 | $8K |
Program Expense Ratio
100.0%
Admin Expense Ratio
0.0%
Fundraising Efficiency
—
Operating Reserve
3.4 mo
People & Compensation(Tax Year 2024)
17 records
Carolina Healthcare Associates Inc reported compensation for 17 officers and key employees. Total officer compensation was $14.9M, representing 16.0% of total expenses. 12 individuals received total compensation exceeding $500,000.
Carolina Healthcare Associates Inc's highest-compensated individual received $2.1M in total compensation. Total officer compensation of $14.9M represents 16.0% of total expenses. 8 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| PAMELA OLIVER MD | PRESIDENT (FR 11/20/24) | Officer | 0.50 | $0 | $1,825,710 | $2,064,352 |
| MICHAEL JASKOLKA MD | TRUSTEE/PULMONOLOGIST | Director | 45.20 | $1,530,072 | $0 | $1,592,880 |
| JOHN MANN MD | FMR OFFICER | Former | — | $0 | $1,279,821 | $1,467,084 |
| GEOFFREY GARDNER | CFO (TO 4/28/24) | Officer | 0.20 | $0 | $1,254,252 | $1,299,330 |
| NAVIN BHOJWANI MD | FMR OFFICER | Former | — | $0 | $1,085,755 | $1,234,172 |
| ALICE POPE | EVP/CFO (FR 4/29/24) | Officer | 0.20 | $0 | $991,687 | $1,175,156 |
| OLUWOLE ODUNUSI | PULMONOLOGIST | Highest Comp | 45.00 | $1,063,053 | $0 | $1,120,349 |
| NASAR SIDDIQI | PULMONOLOGIST | Highest Comp | 45.00 | $1,087,638 | $0 | $1,119,036 |
| ELIZABETH ACQUISTA | FACULTY/PHYSICIAN | Highest Comp | 45.00 | $778,779 | $0 | $836,299 |
| SAVANNAH WEEDMAN | FACULTY/PHYSICIAN | Highest Comp | 45.00 | $680,422 | $0 | $734,558 |
| BRIAN LEGERE | PULMONOLOGIST | Highest Comp | 45.00 | $640,441 | $0 | $697,254 |
| AMY MESSIER | FMR OFFICER | Former | — | $0 | $631,239 | $688,889 |
| JOHN HOWARD | FMR OFFICER | Former | — | $0 | $455,709 | $476,463 |
| DANIEL GOODWIN | PRESIDENT (TO 11/19/24) | Officer | 50.00 | $0 | $384,473 | $437,593 |
| LARRY BEARD MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| BARBARA BIEHNER | VICE CHAIR | OfficerDirector | 0.50 | $0 | $0 | $0 |
| MITCH LAMM | CHAIR | OfficerDirector | 0.50 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
PAMELA OLIVER MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
MICHAEL JASKOLKA MD
Base Salary
$938,921
Bonus
$505,354
Other Reportable
$85,797
Retirement/Deferred
$20,700
Nontaxable Benefits
$42,108
Executive Perks
JOHN MANN MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
GEOFFREY GARDNER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
NAVIN BHOJWANI MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
ALICE POPE
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
OLUWOLE ODUNUSI
Base Salary
$575,488
Bonus
$486,971
Other Reportable
$594
Retirement/Deferred
$20,700
Nontaxable Benefits
$36,596
Executive Perks
NASAR SIDDIQI
Base Salary
$588,774
Bonus
$467,458
Other Reportable
$31,406
Retirement/Deferred
$20,700
Nontaxable Benefits
$10,698
Executive Perks
ELIZABETH ACQUISTA
Base Salary
$532,634
Bonus
$239,167
Other Reportable
$6,978
Retirement/Deferred
$20,700
Nontaxable Benefits
$36,820
Executive Perks
SAVANNAH WEEDMAN
Base Salary
$646,453
Bonus
$5,000
Other Reportable
$28,969
Retirement/Deferred
$20,700
Nontaxable Benefits
$33,436
Executive Perks
BRIAN LEGERE
Base Salary
$399,466
Bonus
$232,391
Other Reportable
$8,584
Retirement/Deferred
$20,209
Nontaxable Benefits
$36,604
Executive Perks
AMY MESSIER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
JOHN HOWARD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
DANIEL GOODWIN
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
Top Contractors(Tax Year 2024)
4 records
Carolina Healthcare Associates Inc reported 4 contractors receiving over $100,000, with total contractor payments of $1.5M.
| Name | Service | Compensation |
|---|---|---|
| DPS TELECOM SERVICES | REMOTE MONITORING SERVICES | $659,017 |
| WEATHERBY HEALTHCARE | STAFFING SERVICES | $432,098 |
| AYA HEALTHCARE INC | TRAVEL NURSING SERVICES | $216,442 |
| SLEEPWORKS LLC | MEDICAL SERVICES (SLEEP STUDIES) | $143,714 |
Governance & Compliance(Tax Year 2024)
Carolina Healthcare Associates Inc has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 4 members, 3 of whom are independent.
Carolina Healthcare Associates Inc's financial statements are audited, an audit committee oversees the process.
Policies & Oversight
Audit & Financial Oversight
Filing History(Tax Years 2000–2024)
6 records
Showing the 6 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $93.3M | $93.2M | $26.5M |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $79.9M | $79.9M | $26.4M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $70.8M | $70.8M | $26.4M |
| 2021 | 990 | 2021-10-01 – 2021-12-31 | $17.8M | $17.8M | $23.4M |
| 2020 | 990 | 2020-10-01 – 2021-09-30 | $143.4M | $175.4M | $19.2M |
| 2019 | 990 | 2019-10-01 – 2020-09-30 | $223.9M | $213.7M | $17.8M |
| 2000–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Carolina Healthcare Associates Inc do?
SEE SCHEDULE O
How much revenue does Carolina Healthcare Associates Inc have?
Carolina Healthcare Associates Inc reported $93,296,027 in total revenue for tax year 2024, up 16.8% from the prior year.
Who is the highest-paid executive at Carolina Healthcare Associates Inc?
PAMELA OLIVER MD, PRESIDENT (FR 11/20/24), received $2,064,352 in total compensation as of tax year 2024.
Is Carolina Healthcare Associates Inc a 501(c)(3)?
Yes, Carolina Healthcare Associates Inc is classified as a 501(c)(3) tax-exempt organization.
Where is Carolina Healthcare Associates Inc located?
Carolina Healthcare Associates Inc is headquartered in WILMINGTON, NC 28402.
How many employees does Carolina Healthcare Associates Inc have?
Carolina Healthcare Associates Inc has 1,069 employees and 3 volunteers as of tax year 2024.
What type of nonprofit is Carolina Healthcare Associates Inc?
Carolina Healthcare Associates Inc is classified under NTEE code E21 (Community Health Systems), within the Healthcare category. It is a 501(c)(3) tax-exempt organization.
Is Carolina Healthcare Associates Inc audited?
Yes, Carolina Healthcare Associates Inc's financial statements are audited, and the organization has an audit committee.
Data Source
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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