Gaston Memorial Hospital Inc

Organization Overview

Gaston Memorial Hospital Inc, operating under the name Caromont Regional Medical Ctr, is located in Gastonia, NC. The organization was established in 1949. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2021, Caromont Regional Medical Ctr employed 3,900 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caromont Regional Medical Ctr 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 06/2021, Caromont Regional Medical Ctr generated $665.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $563.9m during the year ending 06/2021. While expenses have increased by 4.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Caromont Regional Medical Ctr has awarded 206 individual grants totaling $9,947,917. 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE.

Describe the Organization's Program Activity:

CAROMONT HEALTH'S PHILOSOPHY OF CARE IS FOUNDED IN THREE DISTINCT WAYS. IT IS A HEALTH SYSTEM THAT INVESTS IN THE FUTURE OF HEALTHCARE FROM RESEARCH TO EDUCATION. IT IS AN ACTIVE COMMUNITY PARTNER, SUPPORTING AND DRIVING PROGRAMS THAT ENCOURAGE HEALTHIER LIFESTYLES. IT IS ALSO A DYNAMIC ORGANIZATION FOCUSED ON CONTINUOUS DAILY IMPROVEMENT, ADVANCED MEDICINE AND THE DELIVERY OF COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE. THE FISCAL YEAR ENDING JUNE 30, 2021 SAW CAROMONT HEALTH LIVING ITS VISION TO BE OUR COMMUNITY'S MOST TRUSTED HEALTHCARE PARTNER. THE COMPLETE 2021 COMMUNITY BENEFIT REPORT CAN BE FOUND AT WWW.CAROMONTHEALTH.ORG.


CAROMONT HEALTH'S PHILOSOPHY OF CARE IS FOUNDED IN THREE DISTINCT WAYS. IT IS A HEALTH SYSTEM THAT INVESTS IN THE FUTURE OF HEALTHCARE FROM RESEARCH TO EDUCATION. IT IS AN ACTIVE COMMUNITY PARTNER, SUPPORTING AND DRIVING PROGRAMS THAT ENCOURAGE HEALTHIER LIFESTYLES. IT IS ALSO A DYNAMIC ORGANIZATION FOCUSED ON CONTINUOUS DAILY IMPROVEMENT, ADVANCED MEDICINE AND THE DELIVERY OF COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE. THE FISCAL YEAR ENDING JUNE 30, 2021 SAW CAROMONT HEALTH LIVING ITS VISION TO BE OUR COMMUNITY'S MOST TRUSTED HEALTHCARE PARTNER. THE COMPLETE 2021 COMMUNITY BENEFIT REPORT CAN BE FOUND AT WWW.CAROMONTHEALTH.ORG.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cross Country Staffing
Temporary Staffing
$11,153,092
Mcmillan Pazdan Smith Llc
Construction Management
$6,210,010
Trimedx Inc
Heathcare Technology/cybersecurity
$3,277,235
The Robins And Morton Group
Construction Management
$3,239,187
Epic Systems Corporation
Software Systems
$2,589,240
Cross Country Staffing
Temporary Staffing
$11,153,092
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$3,244,094
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$3,244,094
Total Program Service Revenue$628,441,590
Investment income $181,009
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $19,402,329
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $46,597
Miscellaneous Revenue$0
Total Revenue $665,062,443

Grants Awarded

Over the last fiscal year, Gaston Memorial Hospital Inc has awarded $2,451,176 in support to 47 organizations.

Grant RecipientAmount

GASTON COUNTY LEASE

PURPOSE: COMMUNITY ASSISTANCE

$477,684

GASTON COUNTY LEASE

PURPOSE: COMMUNITY ASSISTANCE

$477,684

Gastonia, NC

PURPOSE: COMMUNITY ASSISTANCE

$223,754

Gastonia, NC

PURPOSE: COMMUNITY ASSISTANCE

$223,754

GASTONIA HONEY HUNTERS

PURPOSE: COMMUNITY ASSISTANCE

$219,000

GASTON COUNTY SCHOOLS

PURPOSE: COMMUNITY ASSISTANCE

$175,550
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Gaston Memorial Hospital Inc has recieved totaling $531,187.

Awarding OrganizationAmount
Gaston Memorial Hospital Foundation Inc

Gastonia, NC

PURPOSE: COMMUNITY ASSISTANCE

$531,187
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$10,190
Earnings$1,941
Other Expense$70
Ending Balance$12,061

Peer Organizations

Organization NameAssets
First Health Of The Carolinas Inc
Pinehurst, NC
$986,400,718
Mary Washington Healthcare
Fredericksburg, VA
$863,388,863
Mountain States Health Alliance
Johnson City, TN
$805,201,599
Baptist Memorial Hospital
Memphis, TN
$770,663,628
Medical Center Of Central Georgia Inc
Macon, GA
$800,413,800
Mcleod Regional Medical Center Of The Pee Dee Inc
Florence, SC
$796,571,278
St Francis Hospital Inc
Greenville, SC
$752,202,599
Phoebe Putney Memorial Hospital Inc
Albany, GA
$712,342,689
Cobb Hospital
Marietta, GA
$857,038,951
Anmed Health
Anderson, SC
$728,404,682
Gaston Memorial Hospital Inc
Gastonia, NC
$665,062,443
University Health Services Inc
Augusta, GA
$598,292,806

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