Caromont Health Services
Caromont Health Services reported $21.8 million in revenue and $18.3 million in expenses for the fiscal year ending June 30, 2024. Of every $100 it spent, $94.46 went to program services, $5.54 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 100.0% of the total. The highest compensation it reported for one person was $2,074,421 (CEO). 2 people received more than $100,000 in reportable compensation. Revenue rose 29% between FY2020 and FY2024. Source: Form 990, FY2024.
Where $100 of spending went
The fiscal year ending June 30, 2024 · Form 990, Part IX, line 25 · total expenses $18MFor context, the median across 5,634 covered health care charities: $86.19 programs, $13.81 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2024 · Form 990, Part VIII · total revenue $22MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 94.5% | 85.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.5% | 13.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 1.3% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 100.0% | 93.7% |
| Highest reported compensation Part VII-A, columns D–F | $2,074,421 | $975,831 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 11.32% | 1.34% |
| People paid over $100,000 Part VII, line 2 | 2 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 5.3 | 6.6 |
| Independent voting board members Part VI 1a–1b | 2 of 3 | 88.9% |
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
FY2024 · Form 990, Part III · the three largest programs by expenseCaroMont Health is a not-for-profit health system headquartered in Gastonia, NC that provides inpatient and outpatient medical services within five counties and two states. Anchored by the 476-bed, acute care hospital, CaroMont Regional Medical Center, the health system employs nearly 4,500 healthcare professionals with a medical staff membership of more than 450. CaroMont Health Services owns and operates CaroMont Specialty Surgery, Courtland Terrace and CaroMont Endoscopy Center. CaroMont Specialty Surgery is a free-standing ambulatory surgery center on the campus of CaroMont Regional…
Highest reported compensation
FY2024 · 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 |
|---|---|---|---|---|
| CEO Officer, 1.0 hrs/week | $0 | $1,764,966 | $309,455 | $2,074,421 |
| EVP/CFO/Asst. Treasurer Officer, 1.0 hrs/week | $0 | $956,025 | $184,000 | $1,140,025 |
| CLO/Asst. Sec. Officer, 1.0 hrs/week | $0 | $564,906 | $110,160 | $675,066 |
| Cna II Courtland Highest compensated employee, 40.0 hrs/week | $176,309 | $0 | $24,376 | $200,685 |
| LPN Highest compensated employee, 40.0 hrs/week | $119,945 | $0 | $18,584 | $138,529 |
| Chair Director/trustee, officer, 1.0 hrs/week | $0 | $122,443 | $0 | $122,443 |
2 people received more than $100,000 in reportable compensation from Caromont Health Services (Part VII, line 2).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2024 · 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–1b3 · 2 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 5192
Correct a figure or respond
Every number above is copied from Caromont Health Services's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Caromont Health Services, you can publish a response that is linked from this page.
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Of every $100 Caromont Health Services spent in FY2024, $94.46 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Caromont Health Services's spending goes to programs?
In the fiscal year ending June 30, 2024, Caromont Health Services reported that 94.5% of its $18.3 million in expenses went to program services, 5.5% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Caromont Health Services pay its top executive?
The largest total compensation Caromont Health Services reported for one person in the fiscal year ending June 30, 2024 was $2,074,421, for the role of CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Caromont Health Services get its money?
Of $21.8 million in revenue in the fiscal year ending June 30, 2024, 0.0% came from contributions and grants and 100.0% from program service revenue (Form 990, Part VIII).
Is Caromont Health Services a registered charity?
The IRS lists EIN 56-1455630 as a 501(c)(3) organization (hospital or medical research organization), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202510849349301466 · read the filing · XML
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441209349300639 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202321289349301622 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221229349301802 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111259349300806 · read the filing
All filings for EIN 56-1455630: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.