Moses H Cone Memorial Hospital
- Assets
- $2.0b
- Revenue
- $48.4m
- Investments
- $273.4m
- Employees
- 301
- Location
- Greensboro, NC
- Founding
- 06/1938
- Data as of
- 09/2023
- EIN
- 56-0532302
Organization Overview
Moses H Cone Memorial Hospital is located in Greensboro, NC. The organization was established in 1938. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 09/2023, Moses H Cone Memorial Hospital employed 301 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moses H Cone Memorial Hospital is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Moses H Cone Memorial Hospital generated $48.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $115.8m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Moses H Cone Memorial Hospital has awarded 17 individual grants totaling $468,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
STRATEGIC OVERSIGHT AND SUPPORT OF SUBSIDIARY CORPORATIONS WITHIN CONE HEALTH SYSTEM, A PROVIDER OF HEALTH CARE SERVICES TO THE COMMUNITY
Describe the Organization's Program Activity:
SUPPORT OF CONE HEALTH OPERATIONS
TRIAD HEALTH NETWORK
HOLD AND OPERATE PROPERTY FOR CONE HEALTH SYSTEM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cagle MD Mary Jo President And Chief Executive | OfficerTrustee | 0 | $0 |
Akin Terrence President & Chief Executive Of | 0 | $0 | |
Rempher Kenneth Executive VP & Assistant Secre | 0 | $0 | |
Priest MD Marlon Executive Vice President And A | Officer | 0 | $0 |
Eaton Mandy Chief Operating Officer | OfficerTrustee | 0 | $0 |
Barrow Andrew Chief Financial Officer And Se | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcm Resourcing Llc General Contractor | 9/29/23 | $661,085 |
Brasfield Gorrie Llc Facility Planning | 9/29/23 | $5,673,721 |
Stimmel Associates Pa Facility Services | 9/29/23 | $572,793 |
D L Construction Facility Planning | 9/29/23 | $16,063,670 |
Greensboro Building Services Facility Planning | 9/29/23 | $329,182 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $83,047,949 |
| Investment income | $22,597,223 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$57,275,209 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,371,259 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,250 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,183,813 |
| Compensation of current officers, directors, key employees. | $118,381 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,843,976 |
| Pension plan accruals and contributions | $539,596 |
| Other employee benefits | $3,118,667 |
| Payroll taxes | $1,027,376 |
| Fees for services: Management | $18,926 |
| Fees for services: Legal | $578,040 |
| Fees for services: Accounting | $1,289,968 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,931,678 |
| Fees for services: Other | $5,428,016 |
| Advertising and promotion | $180,210 |
| Office expenses | $81,432 |
| Information technology | $6,361,438 |
| Royalties | $0 |
| Occupancy | -$9,000 |
| Travel | $43,063 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,243,537 |
| Payments to affiliates | $5,899,276 |
| Depreciation, depletion, and amortization | $46,978,606 |
| Insurance | $0 |
| All other expenses | $209,857 |
| Total functional expenses | $115,784,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,988,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,811,704 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,607,552 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $546,293 |
| Net Land, buildings, and equipment | $825,925,997 |
| Investments—publicly traded securities | $681,234,291 |
| Investments—other securities | $273,436,439 |
| Investments—program-related | $0 |
| Intangible assets | $478,815 |
| Other assets | $174,162,526 |
| Total assets | $1,987,191,994 |
| Accounts payable and accrued expenses | $36,683,060 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $701,240,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $79,750,311 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $639,652,911 |
| Total liabilities | $1,457,326,282 |
| Net assets without donor restrictions | $529,865,712 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,987,191,994 |
Grants Awarded
Over the last fiscal year, Moses H Cone Memorial Hospital has awarded $60,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
US DEPARTMENT OF THE INTERIOR PURPOSE: Upkeep of Cone Park | $10,000 |
GREENSBORO HOUSING COALITION PURPOSE: Build Grant | $50,000 |