Novant Health Inc
76% goes to programs $0 to raise $100 Growing revenue
Novant Health Inc is a 501(c)(3) organization based in Winston Salem, North Carolina, registered in 2020, with $6,542,888,138 in FY2024 revenue. CharityIndex grades it B+, and it directs about 76% of spending to programs.
2085 Frontis Plaza Blvd, Winston Salem, NC, 27103 EIN 56-1376950 Since 2020
Revenue (FY2024)
$6.5B
▲ 62.9% vs prior year
Health median: $840K
Expenses (FY2024)
$6.2B
Net assets
$863.3M
Employees
33,786
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating76% to programs · $0 to raise $100
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 Novant Health Inc: 76% to programs · $0 to raise $100 earns a C+ on this criterion. See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · +5% 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 Novant Health Inc: 2 mo reserves · +5% 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 Novant Health Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Novant Health Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
See schedule o
What they do
The filing organization operates several hospitals which exist to promote the health of the inhabitants of their respective communities, regardless of the patient's ability to pay. during 2024, the hospitals had 1,824 licensed beds. there were 454,670 patient days, with an average length of stay of 6 days, and an average daily census of 1,252. there were 93,458 discharges, 979,042 outpatient encounters, 87,787 surgeries, and 420,234 emergency department visits.
The filing organization operates several surgery centers which serve the community by providing access to much needed healthcare services, regardless of the patient's ability to pay. during 2024, 6,098 surgeries and 11,197 endoscopy procedures were performed.
Contact & location
- Address
- 2085 Frontis Plaza Blvd, Winston Salem, NC, 27103
- City
- Winston Salem
- State
- North Carolina
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $657.6M (FY2013) to $6.5B (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $13.7BNet assets $863.3M
Operating margin
5.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$14.6B
Total liabilities
$13.7B
Net assets
$863.3M
Salaries & benefits
$3.2B
51% of expenses
Board members
16
14 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $6,542,888,138▲62.9% | $6,192,258,960▲58.7% | $863,311,605▼76.8% | $14,556,934,673▲51.7% | 990 |
| 2023 | $4,015,833,950▲25.7% | $3,902,611,082▲21.3% | $3,722,633,153▲78.0% | $9,596,623,033▲7.1% | 990 |
| 2022 | $3,193,826,783▲13.2% | $3,217,545,790▲25.1% | $2,090,859,436▼8.3% | $8,958,963,272▼4.0% | 990 |
| 2021 | $2,822,105,056▲165% | $2,572,368,985▲147% | $2,279,139,925▲710% | $9,335,899,762▲74.0% | 990 |
| 2020 | $1,066,591,387▲4.6% | $1,042,047,954▲8.2% | $281,294,967▲134% | $5,365,829,428▲18.6% | 990 |
| 2019 | $1,019,396,293▲11.8% | $963,052,061▲16.7% | $120,118,498▲252% | $4,524,203,756▲14.8% | 990 |
| 2018 | $911,864,857▲3.5% | $825,152,601▼0.7% | -$79,172,573▼152% | $3,940,829,650▼5.1% | 990 |
| 2017 | $881,033,091▲15.2% | $830,975,915▲8.8% | $151,237,782▲296% | $4,150,453,269▲15.0% | 990 |
| 2016 | $764,869,270▼0.2% | $763,511,971▼0.8% | -$77,010,161▼668% | $3,607,897,554▲1.0% | 990 |
| 2015 | $766,374,591▲18.3% | $769,951,621▲21.3% | -$10,021,090▼161% | $3,571,425,514▲12.1% | 990 |
| 2014 | $647,551,508▼1.5% | $634,747,432▲1.1% | $16,561,023▼95.8% | $3,186,813,439▲5.4% | 990 |
| 2013 | $657,615,908 | $627,685,714▲8.4% | $393,737,959▲120% | $3,023,715,011▲26.0% | 990 |
| 2012 | — | $579,022,876▲4.6% | $179,070,101▲58.8% | $2,400,489,338▲12.3% | 990 |
| 2011 | — | $553,584,768▲17.0% | $112,729,483▼49.5% | $2,138,191,052▼10.7% | 990 |
| 2010 | — | $473,294,130 | $223,177,161 | $2,395,383,727 | 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 (FY2024)
Highest-paid: Carl Armato — $6,943,831 (0.11% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Carl Armato | Trustee, Pres/ceo Nh | 50.2 | $6,943,831 |
| James Dean Swindle | Evp | 50 | $3,290,733 |
| Howard Homesley Md | Orthopaedist | 45 | $2,983,719 |
| John Gizdic | Evp | 50 | $2,208,311 |
| Derek Bernstein Md | Orthopaedist | 45 | $2,120,243 |
| David Duvall | Fmr Svp Marketing & Communications | 45 | $2,118,253 |
| John Marcel Md | Orthopaedist | 45 | $2,086,151 |
| Denise Mihal | Evp | 50 | $1,983,433 |
| Rashid Janjua Md | Neurosurgeon | 45 | $1,981,921 |
| Frank Emory Jr | Evp | 50 | $1,881,321 |
| Pamela Oliver Md | Evp | 50 | $1,825,710 |
| Kimberly Henderson | Evp | 50 | $1,421,376 |
| Onyeka Nchege | Evp | 50 | $1,287,464 |
| Geoffrey Gardner | Cfo (to 4/28/24) | 50 | $1,254,252 |
| Jesse Cureton | Fmr Ke (4/27/23) | 0 | $1,039,476 |
| Alice Pope | Evp/cfo (fr 4/29/24) | 50 | $991,687 |
| Scott Myers | Fmr Ke (12/31/21) | 50 | $961,680 |
| Chere Gregory Md | Fmr Ke (12/31/21) | 50 | $938,101 |
| Thomas Jenike Md | Fmr Ke (12/31/21) | 50 | $897,741 |
| Sanjay Gupta | Evp | 50 | $891,331 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Rj Leeper Construction | Construction Services | $125,782,799 |
| Vannoy Construction | Construction Services | $60,191,701 |
| Aya Healthcare Inc | Staffing Services | $52,956,936 |
| Mckinsey & Company | Consulting Services | $52,604,000 |
| Epic Systems Corporation | It Consulting Services | $39,525,969 |
Grants received · $1.4M total
6 grants to Novant Health Inc totaling $1.4M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Winston-salem Foundation | 1 grant(s) for varying purposes | 2024 | $60,000 |
| American Diabetes Association Inc | Education and development | 2024 | $10,000 |
| Winston-salem Foundation | 3 grant(s) for varying purposes | 2023 | $160,000 |
| Servant Foundation | Community development | 2022 | $100,000 |
| Winston-salem Foundation | 2 grant(s) for varying purposes | 2022 | $30,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2020 | $1,002,200 |
Grants made · $19.5M in FY2024
77 grants totaling $19.5M in FY2024 — showing the 15 largest. All grants made by Novant Health Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Unc Health Foundation Inc | Academic and clinical support | $16,390,905 |
| Coastal Community Development Corporation | Affordable workforce housing support | $1,000,000 |
| Winston-salem Foundation | Community outreach | $675,000 |
| Mecklenburg County | Community outreach | $160,000 |
| American Heart Association Inc | Community outreach | $75,000 |
| Habitat For Humanity Internal Inc | Affordable housing support | $60,000 |
| Young Mens Christian Association of Northwest North Carolina | Community outreach | $50,350 |
| Wingate University | Workforce development support | $50,000 |
| Matthews Free Medical Clinic | Community outreach | $50,000 |
| Rowan County United Way Inc | Community outreach | $46,418 |
| Willie Stargell Foundation Inc | Community outreach | $40,000 |
| March of Dimes Inc | Community outreach | $30,000 |
| Partners In Learning Child Development Center Inc | Community outreach | $30,000 |
| Foundation For the Carolinas | Community outreach | $30,000 |
| Matthews Alive Inc | Community outreach | $27,000 |
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Frequently asked questions
- Is Novant Health Inc a legitimate nonprofit?
- Yes. Novant Health Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-1376950, based in Winston Salem, North Carolina. Donations are tax-deductible.
- What is Novant Health Inc's EIN?
- Novant Health Inc's Employer Identification Number (EIN) is 56-1376950.
- How much revenue does Novant Health Inc report?
- Novant Health Inc reported $6,542,888,138 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Novant Health Inc's spending goes to programs?
- Novant Health Inc spends about 76% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Novant Health Inc have?
- CharityIndex grades Novant Health Inc B+, based on program efficiency and fundraising cost.
- How much does Novant Health Inc's highest-paid employee make?
- The highest reported compensation on Novant Health Inc's latest Form 990 is $6,943,831, paid to Carl Armato (Trustee, Pres/ceo Nh).
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Data for Novant Health Inc (EIN 56-1376950) 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.