The Foundation of Firsthealth
The Foundation of Firsthealth reported $18.2 million in revenue and $12.9 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $91.51 went to program services, $8.38 to management and general costs and $0.11 to fundraising. Its largest source of revenue was contributions and grants: 58.1% of the total. The highest compensation it reported for one person was $1,676,640 (PRESIDENT & CEO). Revenue rose 197% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $13MFor context, the median across 2,433 covered unclassified charities: $88.27 programs, $11.68 management, $0.05 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $18MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 91.5% | 86.7% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.4% | 11.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.1% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 58.1% | 29.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 3.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 58.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,676,640 | $301,601 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 13.03% | 1.38% |
| People paid over $100,000 Part VII, line 2 | 0 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 94.3 | 6.8 |
| Independent voting board members Part VI 1a–1b | 22 of 25 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe Foundation of Firsthealth, inc. ("foundation") provides philanthropic support to the operating entities and business lines of firsthealth of the carolinas, inc. ("firsthealth"), a not-for-profit healthcare system. This FY 2025 philanthropic support included $10,790,692 in grants to firsthealth for operational support of existing patient care facilities and services, physician and clinical staff education, and other approved operational needs. Significant FY 2025 disbursement from the foundation to firsthealth included, but were not limited to: * $7,500,000 as final payment toward the…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 49.0 hrs/week | $0 | $1,473,637 | $203,003 | $1,676,640 |
| PRESIDENT - FHPG, INC. Director/trustee, officer, 49.0 hrs/week | $0 | $822,184 | $94,370 | $916,554 |
| CORPORATE CFO Officer, 49.0 hrs/week | $0 | $737,723 | $88,198 | $825,921 |
| FOUNDATION PRESIDENT (RETIRED 1/31/25 Director/trustee, officer, 50.0 hrs/week | $0 | $430,530 | $22,923 | $453,453 |
| FOUNDATION PRESIDENT (HIRED 10/11/24) Director/trustee, officer, 50.0 hrs/week | $0 | $93,342 | $30,313 | $123,655 |
0 people received more than $100,000 in reportable compensation from The Foundation of Firsthealth (Part VII, line 2).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b25 · 22 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
- Volunteers Part I, line 6199
Private foundation grants it received
7 private foundations reported grants to The Foundation of Firsthealth totaling $480K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Foundation of Firsthealth's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Foundation of Firsthealth, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Foundation of Firsthealth spent in FY2025, $91.51 went to programs. The full breakdown, from its IRS Form 990:
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All unclassified charities · Largest charities in North Carolina
Questions people ask
How much of The Foundation of Firsthealth's spending goes to programs?
In the fiscal year ending September 30, 2025, The Foundation of Firsthealth reported that 91.5% of its $12.9 million in expenses went to program services, 8.4% to management and general and 0.1% to fundraising (Form 990, Part IX).
How much does The Foundation of Firsthealth pay its top executive?
The largest total compensation The Foundation of Firsthealth reported for one person in the fiscal year ending September 30, 2025 was $1,676,640, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Foundation of Firsthealth get its money?
Of $18.2 million in revenue in the fiscal year ending September 30, 2025, 58.1% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is The Foundation of Firsthealth a registered charity?
The IRS lists EIN 51-0191937 as a 501(c)(3) organization (supporting organization (509(a)(3))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending September 30, 2025, object 202622269349301922 · read the filing
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202532279349301008 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202422279349301762 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202312269349302411 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202222229349300407 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202142229349301749 · read the filing
All filings for EIN 51-0191937: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.