Caromont Health Inc
Only 49% goes to programs Strong reserves Declining revenue
Caromont Health Inc is a 501(c)(3) organization based in Gastonia, North Carolina, registered in 1991, with $41,441,170 in FY2023 revenue. CharityIndex grades it C+, and it directs about 49% of spending to programs.
2525 Court Dr, Gastonia, NC, 28054 EIN 58-1636959 Since 1991
Revenue (FY2023)
$41.4M
▲ 75.1% vs prior year
Health median: $840K
Expenses (FY2023)
$3.5M
Net assets
$810.5M
Employees
16
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →DProgram efficiency40% of the rating49% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Caromont Health Inc: 49% to programs earns a D on this criterion. See the exact thresholds →
B+Financial health25% of the rating2761 mo reserves · +91% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Caromont Health Inc: 2761 mo reserves · +91% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Caromont Health Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Caromont Health Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To provide compassionate, exceptional and highly reliable care.
Contact & location
- Address
- 2525 Court Dr, Gastonia, NC, 28054
- City
- Gastonia
- State
- North Carolina
- Category
- Health Care
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $37.2M (FY2013) to $41.4M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $11.8MNet assets $810.5M
Operating margin
91.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$822.3M
Total liabilities
$11.8M
Net assets
$810.5M
Salaries & benefits
$1.1M
31% of expenses
Board members
14
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $41,441,170▲75.1% | $3,522,637▼8.1% | $810,510,520▲10.9% | $822,347,679▲10.7% | 990 |
| 2022 | $23,664,936▼61.5% | $3,831,940▼18.9% | $730,765,293▼11.1% | $743,172,403▼10.7% | 990 |
| 2021 | $61,469,914▲16.0% | $4,723,060▲42.6% | $821,931,741▼13.2% | $832,406,138▼12.9% | 990 |
| 2020 | $53,008,631▲119% | $3,311,702▼12.2% | $947,183,153▲24.2% | $956,040,256▲24.2% | 990 |
| 2019 | $24,163,248▼28.2% | $3,769,814▲32.0% | $762,335,160▲12.2% | $769,770,199▲12.3% | 990 |
| 2018 | $33,647,553▼18.3% | $2,855,623▲13.6% | $679,503,519▲8.4% | $685,562,710▲8.4% | 990 |
| 2017 | $41,162,868▲24.4% | $2,513,927▲5.8% | $627,117,814▲6.7% | $632,309,925▲6.8% | 990 |
| 2016 | $33,081,614▲214% | $2,376,462▲6.6% | $587,959,217▲14.5% | $592,100,156▲14.6% | 990 |
| 2015 | $10,534,081▼72.5% | $2,228,529▲24.1% | $513,550,493▼3.0% | $516,843,225▼4.6% | 990 |
| 2014 | $38,282,334▲3.0% | $1,796,030▲18.4% | $529,204,179▼2.7% | $541,612,016▼2.2% | 990 |
| 2013 | $37,155,458 | $1,517,541▼49.8% | $543,978,063▲17.8% | $553,732,406▲17.3% | 990 |
| 2012 | — | $3,020,002▼22.2% | $461,865,535▲14.9% | $472,034,433▲15.0% | 990 |
| 2011 | — | $3,879,437▲4.7% | $401,998,921▲4.0% | $410,456,921▲4.2% | 990 |
| 2010 | — | $3,706,004▲304% | $386,498,295▲21.4% | $393,846,423▲21.3% | 990 |
| 2009 | — | $916,473 | $318,257,440 | $324,710,872 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Ms Larie Carthen — $127,275 (3.61% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Ms Larie Carthen | Nurse Practitioner | 40 | $127,275 |
| Ms Victoria Robinson | Nurse Practitioner | 40 | $107,976 |
| Dr Heath High | Chief of Staff (cos) Elect Through 12/31/23 (non-voting); Cos Starting 1/1/24 | 1 | — |
| Dr Jay Hendler | Chief of Staff (cos) Through 12/31/23; Immediate Past Cos Starting 1/1/24 (non-voting) | 1 | — |
| Dr Michael Gaslin | Past-chief-of-staff (non-voting) Through 12/31/2023 | 1 | — |
| Dr Shiddhi Patel | Chief-of Staff Elect Starting 1/1/2024 | 1 | — |
| Mr Bob Hovis | Director | 1 | — |
| Mr Dan Boyd | Director | 1 | — |
| Mr David O'connor | Evp/cfo/asst. Treasurer | 6 | — |
| Mr David Payseur | Treasurer | 1 | — |
| Mr Frank Stewart | Director | 1 | — |
| Mr Jason Austell | Director | 1 | — |
| Mr Jay Mcgraw | Director | 1 | — |
| Mr Jeffrey Cash | Chair | 1 | — |
| Mr Joseph Davis Jr | Director | 1 | — |
| Mr K Christopher Peek | Ceo | 6 | — |
| Mr Tim Efird | Vice Chair | 1 | — |
| Ms Annette Carter | Director | 1 | — |
| Ms Janie Peak | Director | 1 | — |
| Ms Leigh Hickman | Clo/asst. Sec. | 6 | — |
Top vendors & contractors (FY2020)
| Contractor | Services | Paid |
|---|---|---|
| Weatherby Locums Inc | Temporary Staffing | $177,488 |
Grants received · $94K total
3 grants to Caromont Health Inc totaling $94K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Cancer Society Inc | Patient support | 2022 | $7,500 |
| Matthew 25 Ministries Inc | Humanitarian aid | 2020 | $56,250 |
| Advanced Home Care Inc | General support | 2015 | $30,000 |
Grants made · $483K in FY2023
1 grant totaling $483K in FY2023. All grants made by Caromont Health Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Gaston Memorial Hospital Foundation Inc | Operations of the grantmaking organization | $482,521 |
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Frequently asked questions
- Is Caromont Health Inc a legitimate nonprofit?
- Yes. Caromont Health Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 58-1636959, based in Gastonia, North Carolina. Donations are tax-deductible.
- What is Caromont Health Inc's EIN?
- Caromont Health Inc's Employer Identification Number (EIN) is 58-1636959.
- How much revenue does Caromont Health Inc report?
- Caromont Health Inc reported $41,441,170 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Caromont Health Inc's spending goes to programs?
- Caromont Health Inc spends about 49% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Caromont Health Inc have?
- CharityIndex grades Caromont Health Inc C+, based on program efficiency and fundraising cost.
- How much does Caromont Health Inc's highest-paid employee make?
- The highest reported compensation on Caromont Health Inc's latest Form 990 is $127,275, paid to Ms Larie Carthen (Nurse Practitioner).
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Data for Caromont Health Inc (EIN 58-1636959) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.