New Hanover Regional Medical Center Foundation Inc
SEE SCHEDULE O
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$5.7M
Total Expenses
$6.4M
Net Assets
$128.7M
Employees
0
Volunteers
16
Grants Paid
$6.3M
Program Expense Ratio
98.2%
Fundraising Efficiency
185096.8%
This nonprofit profile presents IRS Form 990 tax filing data for New Hanover Regional Medical Center Foundation Inc (EIN: 56-1752396), 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, 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.
New Hanover Regional Medical Center Foundation Inc is a 501(c)(3) nonprofit headquartered in WILMINGTON, NC, founded in 1991. It is classified under NTEE code E12 (Fund Raising & Fund Distribution), within the Healthcare category. The organization has held tax-exempt status since 1992. In its 2024 filing, the organization reported $5.7M in total revenue, a 30.4% increase from the prior year, and $6.4M in total expenses. The organization engaged 16 volunteers. GEOFFREY GARDNER, CFO (TO 4/28/24), is the highest-compensated individual at $1,299,330. The organization runs 1 program, totaling $6.3M in program expenses. 4 of 6 recommended governance policies are in place.
New Hanover Regional Medical Center Foundation Inc is classified under NTEE code E12 (Fund Raising & Fund Distribution), which falls within the Healthcare category. Its foundation type is 15.
Programs(Tax Year 2024)
1 record
New Hanover Regional Medical Center Foundation Inc operates 1 program, with total program expenses of $6.3M. New Hanover Regional Medical Center Foundation Inc's largest program accounts for 100% of total program spending.
THE ORGANIZATION OPERATES TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR ESSENTIAL PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY OF NOVANT HEALTH NEW HANOVER REGIONAL MEDICAL CENTER, A NON-PROFIT HOSPITAL LOCATED IN WILMINGTON, NC.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, New Hanover Regional Medical Center Foundation Inc's revenue has grown from $2.3M to $5.7M, a 147.1% increase. Program expenses represent 98% of total spending.
Revenue increased 30.4% year-over-year, while expenses grew 154.5%. net assets rose to $128.7M, up 4.5% from the prior year.
New Hanover Regional Medical Center Foundation Inc derives 36% from contributions and grants, with 64% from investment income.
Revenue is diversified across investment income (64%), contributions and grants (36%).
New Hanover Regional Medical Center Foundation Inc allocates 98% to programs, 2% to management and general, 0% to fundraising.
Expenses grew by 154.5%, outpacing revenue growth of 30.4% — a trend to watch if it continues.
New Hanover Regional Medical Center Foundation Inc distributed $6.3M in grants to other organizations and individuals, representing 98% of total expenses.
Over 6 filings from 2019–2024, New Hanover Regional Medical Center Foundation Inc grew revenue from $2.3M to $5.7M (+147.1%) while maintaining a program expense ratio of 98%.
New Hanover Regional Medical Center Foundation Inc holds $130.5M in total assets against $1.8M in liabilities (debt-to-asset ratio of 1%). The organization has 241.5 months of operating reserves. Cash and equivalents of $232K cover approximately 0.4 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $5.7M | $2.1M | $150 | $0 | $3.7M |
| 2023 | $4.4M | $1.5M | $0 | $0 | $2.9M |
| 2022 | $5.1M | $2.1M | $0 | $0 | $3.0M |
| 2021 | $5.9M | $533K | $0 | $0 | $5.3M |
| 2020 | $4.9M | $2.0M | $0 | $0 | $3.0M |
| 2019 | $2.3M | $1.6M | $0 | $0 | $776K |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $6.4M | $6.3M | $115K | $1K | $6.3M |
| 2023 | $2.5M | $2.4M | $0 | $0 | $2.2M |
| 2022 | $2.0M | $1.8M | $192K | $10K | $1.7M |
| 2021 | $266K | $205K | $61K | $0 | $153K |
| 2020 | $1.2M | $982K | $147K | $70K | $819K |
| 2019 | $1.8M | $1.6M | $100K | $69K | $1.5M |
Program Expense Ratio
98.2%
Admin Expense Ratio
1.8%
Fundraising Efficiency
185096.8%
Operating Reserve
241.5 mo
People & Compensation(Tax Year 2024)
22 records
New Hanover Regional Medical Center Foundation Inc reported compensation for 22 officers and key employees. Total officer compensation was $4.1M, representing 64.5% of total expenses. 3 individuals received total compensation exceeding $500,000.
New Hanover Regional Medical Center Foundation Inc's highest-compensated individual received $1.3M in total compensation. Total officer compensation of $4.1M represents 64.5% of total expenses. 2 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| GEOFFREY GARDNER | CFO (TO 4/28/24) | Officer | 0.20 | $0 | $1,254,252 | $1,299,330 |
| ALICE POPE | EVP/CFO (FR 4/29/24) | Officer | 0.20 | $0 | $991,687 | $1,175,156 |
| DOROTHY ANN CAULKINS | SVP FDN (TO 6/1/24) | Officer | 8.00 | $0 | $803,158 | $842,395 |
| SHARON HARRINGTON | VP CHIEF PHILANTHROPY OFF(FR 6/2/24) | Officer | 8.00 | $0 | $290,978 | $305,826 |
| DANA CASSON | EXEC DIRECTOR (TO 8/31/24) | Officer | 50.00 | $0 | $254,876 | $289,274 |
| TANYA ARMOUR | EXEC DIRECTOR (FR 10/06/24) | Officer | 50.00 | $0 | $164,620 | $212,788 |
| DENISE ARMBRISTER | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| DILIP SUBRAMANYAM | TRUSTEE(FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| OZLEM NICHOLS | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| PHILIPPE MAITRE | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| ASHLEY WELLS | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| FRANK HOBART MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| KATHERINE MCKENZIE | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| LENWOOD SHERILL DEAN JR | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| MARTIN MEYERSON MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| DENNIS DOLL | VICE CHAIR/TREASURER | OfficerDirector | 0.50 | $0 | $0 | $0 |
| TANYA JORDAN | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JOHN PACE MD | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| JOSHUA LAMBETH | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| ROBERT JOHNSTON | CHAIR | OfficerDirector | 0.50 | $0 | $0 | $0 |
| SLOAN TURNER DVM | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| BRYAN DURHAM MD | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
GEOFFREY GARDNER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
ALICE POPE
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
DOROTHY ANN CAULKINS
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
SHARON HARRINGTON
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
DANA CASSON
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
TANYA ARMOUR
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Governance & Compliance(Tax Year 2024)
New Hanover Regional Medical Center Foundation Inc has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 16 members, 16 of whom are independent.
New Hanover Regional Medical Center Foundation Inc's financial statements are audited, an audit committee oversees the process.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
11 records
New Hanover Regional Medical Center Foundation Inc awarded $6.1M across 5 grants to organizations. Top recipients include NOVANT HEALTH INC (WINSTON SALEM, NC) — $6.1M for to support nh new hanover regional medical center; LOUIS WELLS CAMERON ART MUSEUM (WILMINGTON, NC) — $25K for community outreach; GREATER WILMINGTON CHAMBER OF COMMERCE (WILMINGTON, NC) — $10K for community outreach. The organization also provided grants to individuals (827 recipients) totaling $103K, including medication for indigent patients, patient transportation, employee emergency fund, scholarships, patient assistance, mammograms.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| NOVANT HEALTH INC561376950 | WINSTON SALEM, NC | $6.1M | TO SUPPORT NH NEW HANOVER REGIONAL MEDICAL CENTER |
| LOUIS WELLS CAMERON ART MUSEUM560812213 | WILMINGTON, NC | $25K | COMMUNITY OUTREACH |
| GREATER WILMINGTON CHAMBER OF COMMERCE560457260 | WILMINGTON, NC | $10K | COMMUNITY OUTREACH |
| ONSLOW MEMORIAL HOSPITAL INC562014989 | JACKSONVILLE, NC | $7K | COMMUNITY OUTREACH |
| TRIANGLE APHASIA PROJECT UNLIMITED271771636 | CARY, NC | $7K | COMMUNITY OUTREACH |
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| MEDICATION FOR INDIGENT PATIENTS | 110 | — |
| PATIENT TRANSPORTATION | 17 | — |
| EMPLOYEE EMERGENCY FUND | 57 | $52K |
| SCHOLARSHIPS | 18 | $34K |
| PATIENT ASSISTANCE | 624 | $16K |
| MAMMOGRAMS | 1 | $90 |
Supplemental Financial Data(Tax Year 2024)
The endowment stands at $2.7M, with $6K in new contributions.
Filing History(Tax Years 1992–2024)
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 | $5.7M | $6.4M | $128.7M |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $4.4M | $2.5M | $123.2M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $5.1M | $2.0M | $77.5M |
| 2021 | 990 | 2021-10-01 – 2021-12-31 | $5.9M | $266K | $84.2M |
| 2020 | 990 | 2020-10-01 – 2021-09-30 | $4.9M | $1.2M | $81.3M |
| 2019 | 990 | 2019-10-01 – 2020-09-30 | $2.3M | $1.8M | $21.4M |
| 1992–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does New Hanover Regional Medical Center Foundation Inc do?
SEE SCHEDULE O
How much revenue does New Hanover Regional Medical Center Foundation Inc have?
New Hanover Regional Medical Center Foundation Inc reported $5,745,206 in total revenue for tax year 2024, up 30.4% from the prior year.
Who is the highest-paid executive at New Hanover Regional Medical Center Foundation Inc?
GEOFFREY GARDNER, CFO (TO 4/28/24), received $1,299,330 in total compensation as of tax year 2024.
Is New Hanover Regional Medical Center Foundation Inc a 501(c)(3)?
Yes, New Hanover Regional Medical Center Foundation Inc is classified as a 501(c)(3) tax-exempt organization.
Where is New Hanover Regional Medical Center Foundation Inc located?
New Hanover Regional Medical Center Foundation Inc is headquartered in WILMINGTON, NC 284016628.
What type of nonprofit is New Hanover Regional Medical Center Foundation Inc?
New Hanover Regional Medical Center Foundation Inc is classified under NTEE code E12 (Fund Raising & Fund Distribution), within the Healthcare category. It is a 501(c)(3) tax-exempt organization.
Is New Hanover Regional Medical Center Foundation Inc audited?
Yes, New Hanover Regional Medical Center Foundation Inc's financial statements are audited, and the organization has an audit committee.
How much does New Hanover Regional Medical Center Foundation Inc spend on fundraising?
New Hanover Regional Medical Center Foundation Inc reported $1,122 in fundraising expenses for tax year 2024, which represents 0.0% of total expenses.
Does New Hanover Regional Medical Center Foundation Inc give grants?
Yes, New Hanover Regional Medical Center Foundation Inc distributed $6,259,785 in grants to other organizations and individuals in tax year 2024. Top recipients include NOVANT HEALTH INC, LOUIS WELLS CAMERON ART MUSEUM, GREATER WILMINGTON CHAMBER OF COMMERCE.
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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