Foundation Health Systems Corp
- Assets
- $284.4m
- Revenue
- $92.3m
- Investments
- $0.0
- Employees
- 667
- Location
- Winston Salem, NC
- Founding
- 08/1991
- Data as of
- 12/2021
- EIN
- 56-1373175
Organization Overview
Foundation Health Systems Corp is located in Winston Salem, NC. The organization was established in 1991. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2021, Foundation Health Systems Corp employed 667 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Health Systems Corp 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 12/2021, Foundation Health Systems Corp generated $92.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $81.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE HEALTHCARE WITHIN THE COMMUNITY SERVED BY PROVIDING OUTPATIENT SURGICAL SERVICES, DIAGNOSTIC SERVICES, MAMMOGRAPHY SERVICES, REHABILITATION SERVICES, AND WOMEN'S SERVICES TO LOW INCOME GROUPS. THE FACILITIES MAINTAIN AN OPEN DOOR POLICY AND STRIVE TO SERVE THE INDIVIDUALS IN THE COMMUNITY WITH THE GREATEST NEEDS. DURING 2021 FOUNDATION HEALTH SYSTEMS HAD A COMBINED TOTAL OF 651,251 OUTPATIENT ENCOUNTERS.
FOUNDATION HEALTH SYSTEM CORP PROVIDES PRE-AUTHORIZATION, SCHEDULING, AND ADMINISTRATIVE SERVICES TO RELATED TAX EXEMPT ORGANIZATIONS FOR THE PROVISION OF HEALTHCARE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hatcher Walter Radiologist | 45 | $474,369 | |
Gordon Daniel Radiologist | 45 | $474,321 | |
Mcgraw Scott Radiologist | 45 | $469,486 | |
Gilpin Serena Sr Dir Radiology Scheduling | 45 | $164,911 | |
Penn Elizabeth Dir Rehab Medicine | 45 | $148,829 | |
Oliver Pamela MD Evp & Pres Nhmg | OfficerTrustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trimedx Inc Clinical Engineering Services | 12/30/21 | $3,679,283 |
Imagefirst Healthcare Laundry Specialist Laundry Service | 12/30/21 | $166,721 |
Dps Telecom Services Remote Monitoring Services | 12/30/21 | $156,370 |
Landmark Builders Of The Triad Construction Services | 12/30/21 | $276,444 |
Language Resource Center Interpreter Services | 12/30/21 | $180,991 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $516,958 |
| 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 | $516,958 |
| Total Program Service Revenue | $91,884,331 |
| Investment income | $26,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$139,070 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,305,767 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $26,146 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,898,488 |
| Pension plan accruals and contributions | $1,302,077 |
| Other employee benefits | $5,767,589 |
| Payroll taxes | $2,497,177 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $187,884 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,154,654 |
| Advertising and promotion | $370,996 |
| Office expenses | $1,273,716 |
| Information technology | $1,122,881 |
| Royalties | $0 |
| Occupancy | $3,916,898 |
| Travel | $315,174 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,276 |
| Interest | $69,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,709,414 |
| Insurance | $202,625 |
| All other expenses | $1,720,448 |
| Total functional expenses | $81,715,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,207 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,826,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $99,817 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $302,240 |
| Net Land, buildings, and equipment | $13,236,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $185,751 |
| Intangible assets | $174,672,903 |
| Other assets | $87,092,432 |
| Total assets | $284,421,963 |
| Accounts payable and accrued expenses | $7,479,496 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,913,993 |
| Total liabilities | $19,393,489 |
| Net assets without donor restrictions | $265,028,474 |
| 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 | $284,421,963 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Foundation Health Systems Corp has recieved totaling $516,959.
| Awarding Organization | Amount |
|---|---|
Forsyth Medical Center Foundation Winston Salem, NC PURPOSE: TO SUPPORT TODAY'S WOMAN | $500,001 |
Rowan Regional Medical Center Foundation Inc Winston Salem, NC PURPOSE: COMMUNITY OUTREACH | $16,958 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Memorial Health Care System Inc Chattanooga, TN | $833,500,042 | $655,181,018 |
Wellmont Health System Johnson City, TN | $425,394,041 | $662,198,822 |
Virginia Hospital Center Arlington Health System Arlington, VA | $1,877,524,577 | $673,514,509 |
Floyd Healthcare Management Inc Rome, GA | $548,593,704 | $501,302,033 |
Carilion Services Inc Roanoke, VA | $938,637,589 | $302,052,496 |
Baptist Patient Safety System Inc Memphis, TN | $1,693,307,701 | $249,640,612 |
Northeast Georgia Physicians Group Inc Gainesville, GA | $36,837,609 | $215,954,168 |
Mcleod Health Florence, SC | $136,994,943 | $254,765,554 |
Southeastern Regional Medical Center Lumberton, NC | $385,532,976 | $242,647,882 |
Sentara Healthcare Norfolk, VA | $7,353,677,948 | $1,030,614,538 |
Methodist Lebonheur Healthcare Memphis, TN | $1,862,271,903 | $201,602,096 |
Piedmont Healthcare Inc Atlanta, GA | $1,865,070,040 | $207,681,365 |