Presbyterian Medical Care Corp
DBA: NOVANT HEALTH MATTHEWS MEDICAL CENTER
SEE SCHEDULE O
IRS Tax Year 2022
Period ending January 31, 2023
Total Revenue
$22.5M
Total Expenses
$20.5M
Net Assets
$0
Employees
0
Volunteers
131
Program Expense Ratio
74.2%
This nonprofit profile presents IRS Form 990 tax filing data for Presbyterian Medical Care Corp (EIN: 56-1376368), based on the 2022 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, 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.
Presbyterian Medical Care Corp is a 501(c)(3) nonprofit headquartered in WINSTON SALEM, NC, founded in 1983. In its 2022 filing, the organization reported $22.5M in total revenue, a 92.6% decrease from the prior year, and $20.5M in total expenses. The organization engaged 131 volunteers. The organization runs 1 program, totaling $15.2M in program expenses. 3 of 6 recommended governance policies are in place.
Programs(Tax Year 2022)
1 record
Presbyterian Medical Care Corp operates 1 program, with total program expenses of $15.2M. Presbyterian Medical Care Corp's largest program accounts for 100% of total program spending.
PRESBYTERIAN MEDICAL CARE CORPORATION ("PMCC"), DOING BUSINESS AS NOVANT HEALTH MATTHEWS MEDICAL CENTER, WAS DEDICATED TO SUPPORTING THE HEALTH AND WELFARE OF THE RESIDENTS OF THE COMMUNITIES SERVED BY THE ORGANIZATION. PMCC MAINTAINED AN OPEN DOOR POLICY, ACCEPTING ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. IN JANUARY 2023, PMCC CONVERTED TO A LIMITED LIABILITY COMPANY WHOLLY OWNED BY NOVANT HEALTH, INC., A TAX-EXEMPT HEALTHCARE ORGANIZATION, AND ALL CONTINUING OPERATIONS ARE REPORTED ON THE NOVANT HEALTH, INC.'S FORM 990.
Financial Overview(Tax Years 2019–2022)
4 records
Over the past 4 years, Presbyterian Medical Care Corp's revenue has declined from $279.9M to $22.5M, a 92.0% decrease. Program expenses represent 74% of total spending.
Revenue decreased 92.6% year-over-year, while expenses declined 91.3%. net assets fell to $0, down 100.0% from the prior year. the organization reduced headcount by 1,455 employees.
Presbyterian Medical Care Corp derives 1% from contributions and grants, with 99% from program services, with 0% from investment income.
Revenue is heavily concentrated: 99% comes from program service revenue, indicating limited diversification.
Presbyterian Medical Care Corp allocates 74% to programs, 26% to management and general.
Revenue declined by 92.6% and expenses declined by 91.3% year over year.
Over 4 filings from 2019–2022, Presbyterian Medical Care Corp declined revenue from $279.9M to $22.5M (-92.0%) while maintaining a program expense ratio of 74%. During this period, the organization reduced from 1,407 to 0 employees.
Presbyterian Medical Care Corp holds $0 in total assets against $0 in liabilities. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2022 | $22.5M | $156K | $0 | $22.3M | $18K |
| 2021 | $303.6M | $1.2M | $1.1M | $301.3M | $283K |
| 2020 | $280.2M | $10.4M | $10.2M | $269.1M | $835 |
| 2019 | $279.9M | $305K | $0 | $279.1M | $-611K |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2022 | $20.5M | $15.2M | $5.3M | $0 | $0 |
| 2021 | $236.1M | $178.6M | $57.5M | $0 | $374K |
| 2020 | $220.1M | $165.9M | $54.2M | $0 | $445K |
| 2019 | $215.7M | $163.9M | $51.8M | $0 | $305K |
Program Expense Ratio
74.2%
Admin Expense Ratio
25.8%
Fundraising Efficiency
—
Operating Reserve
0.0 mo
People & Compensation(Tax Year 2022)
16 records
Presbyterian Medical Care Corp reported compensation for 16 officers and key employees.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| SAAD EHTISHAM | PRESIDENT | OfficerDirector | 0.20 | $0 | $0 | $0 |
| KANDI DEITEMEYER EDD | VICE CHAIR | OfficerDirector | 0.20 | $0 | $0 | $0 |
| LINDA FARTHING | SECRETARY | OfficerDirector | 0.20 | $0 | $0 | $0 |
| MICHELLE LEE | TREASURER | OfficerDirector | 0.20 | $0 | $0 | $0 |
| JAMES TAYLOR | CHAIR | OfficerDirector | 0.20 | $0 | $0 | $0 |
| DAVID VOELLINGER MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| KIMBERLY CASE MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| KATE HATCHER MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| DANIEL COTTINGHAM | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JONI DAVIS | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| TALIA GOLDMAN | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JAMES JOHNSON MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| THADDEUS JONES | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JOHN LEWIS | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| LUIS LOBO | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JANELLE LYONS | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
Governance & Compliance(Tax Year 2022)
Presbyterian Medical Care Corp has 3 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 16 members, 11 of whom are independent.
Presbyterian Medical Care Corp's financial statements are audited, an audit committee oversees the process, the organization is subject to a federal grant audit (Single Audit).
Policies & Oversight
Audit & Financial Oversight
Filing History(Tax Years 1983–2022)
4 records
Showing the 4 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2022 | 990 | 2023-01-01 – 2023-01-31 | $22.5M | $20.5M | $0 |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $303.6M | $236.1M | $811.4M |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $280.2M | $220.1M | $744.4M |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $279.9M | $215.7M | $684.8M |
| 1983–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Presbyterian Medical Care Corp do?
SEE SCHEDULE O
How much revenue does Presbyterian Medical Care Corp have?
Presbyterian Medical Care Corp reported $22,497,521 in total revenue for tax year 2022, down 92.6% from the prior year.
Who is the highest-paid executive at Presbyterian Medical Care Corp?
SAAD EHTISHAM, PRESIDENT, received $0 in total compensation as of tax year 2022.
Is Presbyterian Medical Care Corp a 501(c)(3)?
Yes, Presbyterian Medical Care Corp is classified as a 501(c)(3) tax-exempt organization.
Where is Presbyterian Medical Care Corp located?
Presbyterian Medical Care Corp is headquartered in WINSTON SALEM, NC 27103.
Is Presbyterian Medical Care Corp audited?
Yes, Presbyterian Medical Care Corp'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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