Rowan Regional Medical Center Foundation Inc
DBA: NOVANT HEALTH ROWAN MEDICAL CENTER FOUNDATION
SEE SCHEDULE O
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$2.6M
Total Expenses
$1.5M
Net Assets
$59.2M
Employees
3
Volunteers
16
Grants Paid
$1.2M
Program Expense Ratio
81.9%
Fundraising Efficiency
307.1%
This nonprofit profile presents IRS Form 990 tax filing data for Rowan Regional Medical Center Foundation Inc (EIN: 56-1424818), 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.
Rowan Regional Medical Center Foundation Inc is a 501(c)(3) nonprofit headquartered in WINSTON SALEM, NC, founded in 1984. The organization has held tax-exempt status since 1989. In its 2024 filing, the organization reported $2.6M in total revenue, a 46.3% decrease from the prior year, and $1.5M in total expenses. The organization employed 3 people and engaged 16 volunteers. KIMBERLY HENDERSON, FMR OFFICER, is the highest-compensated individual at $1,620,829. The organization runs 1 program, totaling $1.3M in program expenses. 4 of 6 recommended governance policies are in place.
Rowan Regional Medical Center Foundation Inc is classified under NTEE code E112. Its foundation type is 15.
Programs(Tax Year 2024)
1 record
Rowan Regional Medical Center Foundation Inc operates 1 program, with total program expenses of $1.3M. Rowan 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 ROWAN MEDICAL CENTER, A NON-PROFIT HOSPITAL LOCATED IN SALISBURY, NC.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, Rowan Regional Medical Center Foundation Inc's revenue has declined from $6.3M to $2.6M, a 59.5% decrease. Program expenses represent 82% of total spending.
Revenue decreased 46.3% year-over-year, while expenses declined 57.4%. net assets rose to $59.2M, up 7.8% from the prior year. the organization reduced headcount by 1 employees.
Rowan Regional Medical Center Foundation Inc derives 17% from contributions and grants, with 83% from investment income.
Revenue is primarily driven by investment income (83%), with contributions and grants at 17%.
Rowan Regional Medical Center Foundation Inc allocates 82% to programs, 9% to management and general, 9% to fundraising.
Revenue declined by 46.3% and expenses declined by 57.4% year over year.
Rowan Regional Medical Center Foundation Inc distributed $1.2M in grants to other organizations and individuals, representing 76% of total expenses.
Over 6 filings from 2019–2024, Rowan Regional Medical Center Foundation Inc declined revenue from $6.3M to $2.6M (-59.5%) while maintaining a program expense ratio of 82%.
Rowan Regional Medical Center Foundation Inc holds $59.6M in total assets against $417K in liabilities (debt-to-asset ratio of 1%). The organization has 460.7 months of operating reserves. Cash and equivalents of $4.1M cover approximately 32.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $2.6M | $441K | $0 | $0 | $2.1M |
| 2023 | $4.8M | $3.7M | $0 | $0 | $1.1M |
| 2022 | $7.2M | $5.7M | $0 | $0 | $1.5M |
| 2021 | $11.5M | $6.2M | $0 | $0 | $5.3M |
| 2020 | $4.6M | $3.5M | $0 | $0 | $994K |
| 2019 | $6.3M | $4.7M | $0 | $0 | $1.7M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $1.5M | $1.3M | $135K | $144K | $1.2M |
| 2023 | $3.6M | $3.2M | $240K | $113K | $3.2M |
| 2022 | $2.0M | $1.4M | $400K | $187K | $1.2M |
| 2021 | $14.0M | $13.7M | $169K | $186K | $13.5M |
| 2020 | $2.2M | $1.7M | $383K | $120K | $1.6M |
| 2019 | $1.7M | $1.4M | $148K | $121K | $1.3M |
Program Expense Ratio
81.9%
Admin Expense Ratio
8.7%
Fundraising Efficiency
307.1%
Operating Reserve
460.7 mo
People & Compensation(Tax Year 2024)
25 records
Rowan Regional Medical Center Foundation Inc reported compensation for 25 officers and key employees. Total officer compensation was $7.6M, representing 490.8% of total expenses. 6 individuals received total compensation exceeding $500,000.
Rowan Regional Medical Center Foundation Inc's highest-compensated individual received $1.6M in total compensation. Total officer compensation of $7.6M represents 490.8% of total expenses. 4 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| KIMBERLY HENDERSON | FMR OFFICER | Former | — | $0 | $1,421,376 | $1,620,829 |
| ERIC MALLICO MD | TRUSTEE/GENERAL SURGEON | Director | 0.20 | $0 | $1,472,890 | $1,527,671 |
| 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 |
| ATLEE JOHNSON III MD | TRUSTEE/UROLOGIST | Director | 0.20 | $0 | $508,982 | $551,724 |
| SHARON HARRINGTON | VP CHIEF PHILANTHROPY OFF(FR 6/2/24) | Officer | 8.00 | $0 | $290,978 | $305,826 |
| AMY MAHER | EXEC DIRECTOR (TO 12/31/24) | Officer | 50.00 | $0 | $210,521 | $241,631 |
| WILLIAM GRAHAM | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| WILLIAM STATON | TREASURER | OfficerDirector | 0.50 | $0 | $0 | $0 |
| JOYCE GOODWIN | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| KAY WILSON | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| AERIK WILLIAMS MD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| ALAN KING | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| ALISHA BYRD-CLARK | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| MELISSA ALCORN | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| AMY WILSON MD | SECRETARY | OfficerDirector | 0.50 | $0 | $0 | $0 |
| STARLING JOHNSON | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| BRYAN OVERCASH | CHAIR (TO 12/31/24) | OfficerDirector | 0.50 | $0 | $0 | $0 |
| KELLY WITHERS | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| MARK DOBY | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| MICHAEL ARON | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| MICHAEL TROPSHA | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| SAMANTHA HASPEL | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| STEPHEN BULLOCK | VICE CHAIR | OfficerDirector | 0.50 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
KIMBERLY HENDERSON
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
ERIC MALLICO MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
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
—
ATLEE JOHNSON III MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
SHARON HARRINGTON
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
AMY MAHER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Governance & Compliance(Tax Year 2024)
Rowan Regional Medical Center Foundation Inc has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 19 members, 16 of whom are independent.
Rowan 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)
10 records
Rowan Regional Medical Center Foundation Inc awarded $1.1M across 3 grants to organizations. Top recipients include NOVANT HEALTH INC (WINSTONSALEM, NC) — $1.0M for to support novant health rowan medical center; COUNTY OF ROWAN (SALISBURY, NC) — $53K for to support rowan county health department; THE PRESBYTERIAN HOSPITAL (WINSTONSALEM, NC) — $8K for to support novant health presbyterian medical center. The organization also provided grants to individuals (270 recipients) totaling $48K, including patient assistance - zoll vest, medication for indigent patients, patient transportation, mammograms, team member assistance (employee emergency fund), patient assistance, scholarships.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| NOVANT HEALTH INC561376950 | WINSTONSALEM, NC | $1.0M | TO SUPPORT NOVANT HEALTH ROWAN MEDICAL CENTER |
| COUNTY OF ROWAN566000336 | SALISBURY, NC | $53K | TO SUPPORT ROWAN COUNTY HEALTH DEPARTMENT |
| THE PRESBYTERIAN HOSPITAL560554230 | WINSTONSALEM, NC | $8K | TO SUPPORT NOVANT HEALTH PRESBYTERIAN MEDICAL CENTER |
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| PATIENT ASSISTANCE - ZOLL VEST | 4 | — |
| MEDICATION FOR INDIGENT PATIENTS | 1 | — |
| PATIENT TRANSPORTATION | 30 | — |
| MAMMOGRAMS | 119 | $27K |
| TEAM MEMBER ASSISTANCE (EMPLOYEE EMERGENCY FUND) | 20 | $15K |
| PATIENT ASSISTANCE | 93 | $3K |
| SCHOLARSHIPS | 3 | $3K |
Supplemental Financial Data(Tax Year 2024)
The endowment stands at $5.7M, with $444K in new contributions.
Filing History(Tax Years 1989–2024)
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 | $2.6M | $1.5M | $59.2M |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $4.8M | $3.6M | $54.9M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $7.2M | $2.0M | $50.3M |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $11.5M | $14.0M | $51.7M |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $4.6M | $2.2M | $54.1M |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $6.3M | $1.7M | $50.8M |
| 1989–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Rowan Regional Medical Center Foundation Inc do?
SEE SCHEDULE O
How much revenue does Rowan Regional Medical Center Foundation Inc have?
Rowan Regional Medical Center Foundation Inc reported $2,562,198 in total revenue for tax year 2024, down 46.3% from the prior year.
Who is the highest-paid executive at Rowan Regional Medical Center Foundation Inc?
KIMBERLY HENDERSON, FMR OFFICER, received $1,620,829 in total compensation as of tax year 2024.
Is Rowan Regional Medical Center Foundation Inc a 501(c)(3)?
Yes, Rowan Regional Medical Center Foundation Inc is classified as a 501(c)(3) tax-exempt organization.
Where is Rowan Regional Medical Center Foundation Inc located?
Rowan Regional Medical Center Foundation Inc is headquartered in WINSTON SALEM, NC 27103.
How many employees does Rowan Regional Medical Center Foundation Inc have?
Rowan Regional Medical Center Foundation Inc has 3 employees and 16 volunteers as of tax year 2024.
Is Rowan Regional Medical Center Foundation Inc audited?
Yes, Rowan Regional Medical Center Foundation Inc's financial statements are audited, and the organization has an audit committee.
How much does Rowan Regional Medical Center Foundation Inc spend on fundraising?
Rowan Regional Medical Center Foundation Inc reported $143,708 in fundraising expenses for tax year 2024, which represents 9.3% of total expenses.
Does Rowan Regional Medical Center Foundation Inc give grants?
Yes, Rowan Regional Medical Center Foundation Inc distributed $1,170,781 in grants to other organizations and individuals in tax year 2024. Top recipients include NOVANT HEALTH INC, COUNTY OF ROWAN, THE PRESBYTERIAN HOSPITAL.
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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