Caromont Medical Group Inc
95% goes to programs Growing revenue
Caromont Medical Group Inc is a 501(c)(3) organization based in Gastonia, North Carolina, registered in 1986, with $165,685,869 in FY2023 revenue. CharityIndex grades it C+, and it directs about 95% of spending to programs.
2525 Court Dr, Gastonia, NC, 28054 EIN 56-1479712 Since 1986
Revenue (FY2023)
$165.7M
▲ 6.7% vs prior year
Health median: $840K
Expenses (FY2023)
$208.8M
Net assets
$48.4M
Employees
1,187
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 →A+Program efficiency40% of the rating95% 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 Medical Group Inc: 95% to programs earns a A+ on this criterion. See the exact thresholds →
DFinancial health25% of the rating3 mo reserves · -26% 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 Medical Group Inc: 3 mo reserves · -26% margin earns a D on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Medical Group Inc: 5 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 Medical Group 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 $99.2M (FY2013) to $165.7M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $34.4MNet assets $48.4M
Operating margin
-26.0%
Spent more than it raised in the latest fiscal year.
Total assets
$82.8M
Total liabilities
$34.4M
Net assets
$48.4M
Salaries & benefits
$164.1M
79% of expenses
Board members
5
2 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $165,685,869▲6.7% | $208,769,136▲8.6% | $48,391,413▲35.0% | $82,782,092▲15.2% | 990 |
| 2022 | $155,331,576▲7.6% | $192,179,329▲9.6% | $35,851,023▲23.6% | $71,862,686▲9.9% | 990 |
| 2021 | $144,361,376▲10.1% | $175,319,689▲8.2% | $29,014,942▼7.2% | $65,416,046▲49.2% | 990 |
| 2020 | $131,069,416▲5.4% | $162,051,189▲8.0% | $31,253,634▲20.4% | $43,858,251▲27.8% | 990 |
| 2019 | $124,328,633▲1.6% | $149,986,964▲0.3% | $25,948,073▲12.3% | $34,318,029▲5.5% | 990 |
| 2018 | $122,372,105▲0.8% | $149,535,956▲6.0% | $23,100,793▲35.7% | $32,519,699▲22.2% | 990 |
| 2017 | $121,391,347▲12.0% | $141,008,715▲11.5% | $17,019,932▼16.3% | $26,611,482▼3.0% | 990 |
| 2016 | $108,372,408▲0.2% | $126,466,070▲1.6% | $20,329,593▼21.4% | $27,426,567▼21.6% | 990 |
| 2015 | $108,145,808▲1.7% | $124,476,491▲6.3% | $25,866,725▼40.1% | $35,002,246▼32.5% | 990 |
| 2014 | $106,303,396▲7.1% | $117,064,939▲4.7% | $43,179,532▼21.6% | $51,866,461▼20.3% | 990 |
| 2013 | $99,248,156 | $111,774,079▲6.0% | $55,060,285▼14.7% | $65,089,441▼10.5% | 990 |
| 2012 | — | $105,454,534▼2.1% | $64,541,511▼13.1% | $72,766,218▼12.7% | 990 |
| 2011 | — | $107,712,120▲13.4% | $74,257,613▼18.7% | $83,328,621▼14.0% | 990 |
| 2010 | — | $95,012,573▲9.9% | $91,358,279▲4.7% | $96,901,129▲5.7% | 990 |
| 2009 | — | $86,436,720 | $87,271,770 | $91,695,007 | 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: Dr Inderjeet Singh — $1,298,837 (0.62% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr Inderjeet Singh | Physcian | 40 | $1,298,837 |
| Dr James Greelish | Physcian | 40 | $1,196,138 |
| Dr Paul Kochupura | Physcian | 40 | $1,119,408 |
| Dr Oh Chang | Physcian | 40 | $1,108,885 |
| Dr Dustin Letts | Physcian | 40 | $1,026,424 |
| Dr Mark Thompson | Director | 40 | $812,184 |
| Dr Jay Hendler | Director | 40 | $500,289 |
| Dr Andrew Dyksterhouse | Director | 20 | $264,395 |
| Mr Bob Hovis | Director | 1 | — |
| Mr David O'connor | Evp/cfo/asst. Treasurer | 1 | — |
| Mr Frank Stewart | Chair | 1 | — |
| Mr K Christopher Peek | Ceo | 1 | — |
| Ms Annette Carter | Director | 1 | — |
| Ms Leigh Hickman | Clo/asst. Sec. | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Weatherby Locums Inc | Temp Personnel | $3,160,777 |
| Novant Medical Group Inc(physician Pay) | Physician Staffing | $931,391 |
| Berry IV John S | Physician Staffing | $376,316 |
| Comphealth | Physician Staffing | $334,092 |
| Positive Reinforcement Nursing | Temp Personnel | $251,431 |
Grants received · $222K total
2 grants to Caromont Medical Group Inc totaling $222K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Community Care of North Carolina Inc | Helping independent practices expand access to and improve quality of care for vulnerable populations | 2023 | $189,918 |
| Patient Access Network Foundation | Patient assistance | 2014 | $31,853 |
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Frequently asked questions
- Is Caromont Medical Group Inc a legitimate nonprofit?
- Yes. Caromont Medical Group Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-1479712, based in Gastonia, North Carolina. Donations are tax-deductible.
- What is Caromont Medical Group Inc's EIN?
- Caromont Medical Group Inc's Employer Identification Number (EIN) is 56-1479712.
- How much revenue does Caromont Medical Group Inc report?
- Caromont Medical Group Inc reported $165,685,869 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Caromont Medical Group Inc's spending goes to programs?
- Caromont Medical Group Inc spends about 95% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Caromont Medical Group Inc have?
- CharityIndex grades Caromont Medical Group Inc C+, based on program efficiency and fundraising cost.
- How much does Caromont Medical Group Inc's highest-paid employee make?
- The highest reported compensation on Caromont Medical Group Inc's latest Form 990 is $1,298,837, paid to Dr Inderjeet Singh (Physcian).
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Data for Caromont Medical Group Inc (EIN 56-1479712) 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.