Novant Health Medical Group LLC
DBA: NOVANT HEALTH MEDICAL GROUP
SEE SCHEDULE O
IRS Tax Year 2023
Period ending January 31, 2024
Total Revenue
$105.5M
Total Expenses
$123.6M
Net Assets
$0
Employees
8,628
Volunteers
8
Grants Paid
$12K
Program Expense Ratio
90.5%
This nonprofit profile presents IRS Form 990 tax filing data for Novant Health Medical Group LLC (EIN: 58-1728803), 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, 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.
Novant Health Medical Group LLC is a 501(c)(3) nonprofit headquartered in WINSTON SALEM, NC, founded in 1987. The organization has held tax-exempt status since 2025. In its 2023 filing, the organization reported $105.5M in total revenue, a 90.7% decrease from the prior year, and $123.6M in total expenses. The organization employed 8,628 people and engaged 8 volunteers. The organization runs 1 program, totaling $111.8M in program expenses. 3 of 6 recommended governance policies are in place.
Programs(Tax Year 2023)
1 record
Novant Health Medical Group LLC operates 1 program, with total program expenses of $111.8M. Novant Health Medical Group LLC's largest program accounts for 100% of total program spending.
NOVANT MEDICAL GROUP OFFERS VARIOUS PHYSICIAN SERVICES TO THE COMMUNITY AT MULTIPLE LOCATIONS. THE ORGANIZATION'S OPERATIONS SERVE THE COMMUNITY BY PROVIDING ACCESS TO MUCH NEEDED HEALTHCARE SERVICES REGARDLESS OF THE PATIENTS' ABILITY TO PAY. IN JANUARY 2024, THE ORGANIZATION CONVERTED TO A LIMITED LIABILITY COMPANY WHOLLY OWNED BY NOVANT HEALTH, INC, A TAX-EXEMPT HEALTHCARE ORGANIZATION, AND ALL CONTINUING OPERATIONS ARE REPORTED ON NOVANT HEALTH, INC.'S FORM 990.
Financial Overview(Tax Years 2019–2023)
5 records
Over the past 5 years, Novant Health Medical Group LLC's revenue has declined from $1.0B to $105.5M, a 89.6% decrease. Program expenses represent 90% of total spending.
Revenue decreased 90.7% year-over-year, while expenses declined 90.4%. net assets rose to $0, up 100.0% from the prior year. the organization added 58 employees.
Novant Health Medical Group LLC derives 0% from contributions and grants, with 100% from program services.
Revenue is heavily concentrated: 100% comes from program service revenue, indicating limited diversification.
Novant Health Medical Group LLC allocates 90% to programs, 5% to management and general.
Revenue declined by 90.7% and expenses declined by 90.4% year over year.
Novant Health Medical Group LLC distributed $12K in grants to other organizations and individuals, representing 0% of total expenses.
Over 5 filings from 2019–2023, Novant Health Medical Group LLC declined revenue from $1.0B to $105.5M (-89.6%) while maintaining a program expense ratio of 90%. During this period, the organization grew from 7,841 to 8,628 employees.
Novant Health Medical Group LLC 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 |
|---|---|---|---|---|---|
| 2023 | $105.5M | $18K | $0 | $105.2M | $-4K |
| 2022 | $1.1B | $2.2M | $1.6M | $1.1B | $720K |
| 2021 | $1.2B | $6.8M | $5.5M | $1.2B | $-58K |
| 2020 | $1.1B | $39.5M | $37.7M | $1.0B | $20K |
| 2019 | $1.0B | $892K | $623K | $1.0B | $98K |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2023 | $123.6M | $111.8M | $6.4M | $0 | $12K |
| 2022 | $1.3B | $1.2B | $67.8M | $0 | $87K |
| 2021 | $1.3B | $1.2B | $87.9M | $0 | $901K |
| 2020 | $1.2B | $1.1B | $100.1M | $0 | $1.4M |
| 2019 | $1.2B | $1.1B | $68.1M | $0 | $44K |
Program Expense Ratio
90.5%
Admin Expense Ratio
5.2%
Fundraising Efficiency
—
Operating Reserve
0.0 mo
People & Compensation(Tax Year 2023)
8 records
Novant Health Medical Group LLC reported compensation for 8 officers and key employees.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| DANIEL MURPHY MD | CHAIR | OfficerDirector | 0.20 | $0 | $0 | $0 |
| DANIELLE SQUIRES | SECR/TREAS (FR 1/1/24) | OfficerDirector | 0.20 | $0 | $0 | $0 |
| CARL ARMATO | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| DOUGLAS YOUNG PHD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JOSEPH ELY | VICE CHAIR | OfficerDirector | 0.20 | $0 | $0 | $0 |
| PAMELA OLIVER MD | TRUSTEE, EVP | OfficerDirector | 0.20 | $0 | $0 | $0 |
| ROBERT BARR MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| ELWOOD ROBINSON | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
Governance & Compliance(Tax Year 2023)
Novant Health Medical Group LLC has 3 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 8 members, 6 of whom are independent.
Novant Health Medical Group LLC'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
Grants Awarded(Tax Year 2023)
1 record
The organization also provided grants to individuals (39 recipients), including patient transportation.
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| PATIENT TRANSPORTATION | 39 | — |
Filing History(Tax Years 2019–2023)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2023 | 990 | 2024-01-01 – 2024-01-31 | $105.5M | $123.6M | $0 |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $1.1B | $1.3B | $-1.4B |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $1.2B | $1.3B | $-1.2B |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $1.1B | $1.2B | $-1.1B |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $1.0B | $1.2B | $-984.6M |
Frequently Asked Questions
What does Novant Health Medical Group LLC do?
SEE SCHEDULE O
How much revenue does Novant Health Medical Group LLC have?
Novant Health Medical Group LLC reported $105,546,529 in total revenue for tax year 2023, down 90.7% from the prior year.
Who is the highest-paid executive at Novant Health Medical Group LLC?
DANIEL MURPHY MD, CHAIR, received $0 in total compensation as of tax year 2023.
Is Novant Health Medical Group LLC a 501(c)(3)?
Yes, Novant Health Medical Group LLC is classified as a 501(c)(3) tax-exempt organization.
Where is Novant Health Medical Group LLC located?
Novant Health Medical Group LLC is headquartered in WINSTON SALEM, NC 27103.
How many employees does Novant Health Medical Group LLC have?
Novant Health Medical Group LLC has 8,628 employees and 8 volunteers as of tax year 2023.
Is Novant Health Medical Group LLC audited?
Yes, Novant Health Medical Group LLC's financial statements are audited, and the organization has an audit committee.
Does Novant Health Medical Group LLC give grants?
Yes, Novant Health Medical Group LLC distributed $11,839 in grants to other organizations and individuals in tax year 2023.
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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