New Hanover Regional Medical Center Foundation Inc
- Assets
- $84.4m
- Revenue
- $5.9m
- Investments
- $41.6m
- Employees
- 0
- Location
- Wilmington, NC
- Founding
- 05/1992
- Data as of
- 12/2021
- EIN
- 56-1752396
Organization Overview
New Hanover Regional Medical Center Foundation Inc is located in Wilmington, NC. The organization was established in 1992. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hanover Regional Medical Center Foundation Inc 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, New Hanover Regional Medical Center Foundation Inc generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $266.2k 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
NHRMC FOUNDATION ENGAGES AND CONNECTS DONORS TO NOVANT HEALTH PROGRAMS AND INITIATIVES THAT SAVE LIVES AND IMPROVE THE HEALTH OF THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE HOSPITAL CAPITAL, EQUIPMENT, PROGRAM SUPPORT AND STAFF EDUCATION FUNDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Johnston Vice Chair & Treasurer | OfficerTrustee | 0.2 | $0 |
William Purvis Chair | OfficerTrustee | 0.2 | $0 |
Julia Schorr Davis Executive Director | Officer | 50 | $0 |
Kimberly Dickens Board Member | Trustee | 0.2 | $0 |
Josh Lambeth Board Member | Trustee | 0.2 | $0 |
Shelbourn Stevens President Nh Nhrmc, Nhbmc & Pmh | Trustee | 0.2 | $0 |
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 | $533,075 |
| Noncash contributions included in lines 1a–1f | $37,764 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $533,075 |
| Total Program Service Revenue | $0 |
| Investment income | $827,596 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,502,524 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,863,195 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $144,958 |
| Grants and other assistance to domestic individuals. | $8,145 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,900 |
| Fees for services: Other | $16,933 |
| Advertising and promotion | $0 |
| Office expenses | $1,736 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,145 |
| Total functional expenses | $266,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,532,410 |
| Pledges and grants receivable | $539,588 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $77 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $472,680 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $37,434,267 |
| Investments—other securities | $41,618,242 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $780,825 |
| Total assets | $84,378,089 |
| Accounts payable and accrued expenses | $3,867 |
| 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 | $154,873 |
| Total liabilities | $158,740 |
| Net assets without donor restrictions | $61,303,540 |
| Net assets with donor restrictions | $22,915,809 |
| 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 | $84,378,089 |
Grants Awarded
Over the last fiscal year, New Hanover Regional Medical Center Foundation Inc has awarded $144,958 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NOVANT HEALTH NEW HANOVER REGIONAL MEDICAL CENTER LLC PURPOSE: SUPPORT THE HOSPITAL IN PROVIDING HEALTHCARE TO THE COMMUNITY. TO SUPPORT THE PENDER MEMORIAL HOSPITAL PROGRAMS, SEAHEC PROGRAMS AND SECU FAMILY HOUSE. NONCASH ITEMS DONATED TO NHRMC WERE DONATED TO THE FOUNDATION AND SUBSEQUENTLY PASSED ONTO THE MEDICAL CENTER PER DONOR'S INTENT. | $139,558 |
Burgaw, NC PURPOSE: SUPPORT THE HOSPITAL IN PROVIDING HEALTHCARE TO THE COMMUNITY | $5,400 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that New Hanover Regional Medical Center Foundation Inc has recieved totaling $50,060,500.
| Awarding Organization | Amount |
|---|---|
Novant Health Inc Winston Salem, NC PURPOSE: TO SUPPORT NH NEW HANOVER REGIONAL MEDICAL CENTER | $50,000,000 |
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: HEALTH | $27,500 |
Lakeside Foundation Jenkintown, PA PURPOSE: GENERAL FUND | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $10,000 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX PURPOSE: FOR THE SECU FAMILY HOUSE | $2,000 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX PURPOSE: IN MEMORY OF SANDERS BURNEY | $1,000 |
Endowment Analysis
| Beg. Balance | $2,681,946 |
| Net Contributions | $889 |
| Ending Balance | $2,682,835 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Intrahealth International Inc Chapel Hill, NC | $25,698,138 | $95,131,742 |
Moses Cone Medical Services Inc Greensboro, NC | $66,450,127 | $85,429,043 |
Sheet Metal Workers National Health Fund Goodlettsville, TN | $59,855,607 | $61,652,205 |
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |
Inova Health System Foundation Fairfax, VA | $6,680,265,525 | $824,217,139 |
Carolina Medicorp Enterprises Llc Winston Salem, NC | $11,898,708 | $46,315,888 |
Childrens Health System Inc Norfolk, VA | $122,433,385 | $34,959,405 |
Fauquier Health Foundation Warrenton, VA | $249,193,841 | $9,571,718 |
Chesapeake Regional Medical Group Chesapeake, VA | $4,557,734 | $12,231,172 |
North Carolina Agricultural Foundation Inc Raleigh, NC | $248,209,354 | $30,308,869 |
Mid-South Carp Regional Council Health & Welfare Fund Goodlettsville, TN | $42,702,855 | $23,372,218 |
Childrens Hospital And Healthcare Services Foundation Richmond, VA | $253,228,925 | $70,265,641 |