Forsyth Medical Center Foundation
- Assets
- $87.7m
- Revenue
- $11.8m
- Investments
- $20.1m
- Employees
- 9
- Location
- Winston Salem, NC
- Founding
- 11/1999
- Data as of
- 12/2021
- EIN
- 56-2120959
Organization Overview
Forsyth Medical Center Foundation, operating under the name Novant Health Forsyth Medical Center Foundation, is located in Winston Salem, NC. The organization was established in 1999. 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 12/2021, Novant Health Forsyth Medical Center Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novant Health Forsyth Medical Center Foundation 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, Novant Health Forsyth Medical Center Foundation generated $11.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $8.0m during the year ending 12/2021. While expenses have increased by 11.6% per year over the past 7 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 2014, Novant Health Forsyth Medical Center Foundation has awarded 62 individual grants totaling $33,516,075. 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
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
FORSYTH MEDICAL CENTER FOUNDATION FOCUSES ITS EFFORTS ON RAISING COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR MUCH-NEEDED PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY FOR NOVANT HEALTH FORSYTH MEDICAL CENTER, NOVANT HEALTH KERNERSVILLE MEDICAL CENTER, AND NOVANT HEALTH CLEMMONS MEDICAL CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Egan Heather Chief Development Officer | 45 | $148,988 | |
Madden Elizabeth Treasurer | OfficerTrustee | 0.2 | $0 |
Ely Joseph Vice Chair | OfficerTrustee | 0.2 | $0 |
Marshall Deborah Chair | OfficerTrustee | 0.2 | $0 |
Fuller-Andrews Leesha Sec | OfficerTrustee | 0.2 | $0 |
Caulkins Dorothy SVP Foundations | Officer | 8.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $39,712 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,605,229 |
| Noncash contributions included in lines 1a–1f | $5,407 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,644,941 |
| Total Program Service Revenue | $0 |
| Investment income | $1,040,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,137,699 |
| Net Income from Fundraising Events | $1,273 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,824,054 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,877,549 |
| Grants and other assistance to domestic individuals. | $153,746 |
| 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 | $517,031 |
| Pension plan accruals and contributions | $14,171 |
| Other employee benefits | $54,919 |
| Payroll taxes | $36,967 |
| 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 | $104,294 |
| Fees for services: Other | $4,921 |
| Advertising and promotion | $30,746 |
| Office expenses | $12,703 |
| Information technology | $952 |
| Royalties | $0 |
| Occupancy | $29,785 |
| Travel | $2,632 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $853 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,712 |
| Insurance | $0 |
| All other expenses | $1,370 |
| Total functional expenses | $8,009,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,243,828 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,121,277 |
| Accounts receivable, net | $8,683 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $117,168 |
| Investments—publicly traded securities | $65,100,422 |
| Investments—other securities | $20,115,734 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $87,707,112 |
| Accounts payable and accrued expenses | $94,825 |
| 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 | $5,259,837 |
| Total liabilities | $5,354,662 |
| Net assets without donor restrictions | $71,031,181 |
| Net assets with donor restrictions | $11,321,269 |
| 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 | $87,707,112 |
Grants Awarded
Over the last fiscal year, Forsyth Medical Center Foundation has awarded $6,877,549 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Winston Salem, NC PURPOSE: TO SUPPORT NHFMC, NHCMC, NHKMC, AND FMCI | $5,843,048 |
Winston Salem, NC PURPOSE: TO SUPPORT TODAY'S WOMAN | $500,001 |
FORSYTH HEALTHCARE INC PURPOSE: COMMUNITY OUTREACH | $250,000 |
Salisbury, NC PURPOSE: COMMUNITY OUTREACH | $250,000 |
Winstonsalem, NC PURPOSE: COMMUNITY OUTREACH | $16,230 |
Winston Salem, NC PURPOSE: TO SUPPORT NOVANT MEDICAL GROUP, INC. | $11,213 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Forsyth Medical Center Foundation has recieved totaling $455,600.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 35 GRANT(S) FOR VARYING PURPOSES | $353,561 |
Kernsville Foundation Inc Kernersville, NC PURPOSE: SUPPORT LOCAL COMMUNITY PROJECTS | $45,000 |
John Wesley Hanes And Anna Hodgin Hanes Foundation Las Vegas, NV PURPOSE: GENERAL SUPPORT | $25,000 |
Colon Cancer Coalition Foundation Edina, MN PURPOSE: SCREENING | $22,000 |
American Heart Association Inc Dallas, TX PURPOSE: COMMUNITY NUTRITION | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $39 |
Endowment Analysis
| Beg. Balance | $11,493,574 |
| Earnings | $271,160 |
| Net Contributions | $2,081,442 |
| Other Expense | $2,454,080 |
| Grants | $70,827 |
| Ending Balance | $11,321,269 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Healthcare System Inc Warner Robins, GA | $2,831,389 | $10,479,781 |
Baptist Memorial Health Care Foundation Memphis, TN | $704,887,527 | $54,101,503 |
West Georgia Health Foundation Inc Marietta, GA | $8,141,093 | $4,609,093 |
Sheltering Arms Foundation Mechanicsville, VA | $205,278,403 | $11,542,533 |
Le Bonheur Childrens Hospital Foundation Memphis, TN | $96,675,707 | $25,710,554 |
Trustees Of Medical Services Of Am Inc Empl Health Ben Plan 6 Tr Lexington, SC | $5,490 | $14,210,986 |
Rowan Regional Medical Center Foundation Inc Winston Salem, NC | $63,491,170 | $11,479,503 |
Bath Community Hospital Foundation Hot Springs, VA | $25,068,775 | $7,394,465 |
Potomac Health Foundation Woodbridge, VA | $124,789,436 | $8,932,196 |
Plumbers And Pipefitters L U 572 Health And Welfare Fund Goodlettsville, TN | $19,730,789 | $13,559,404 |
Fauquier Hospital Endowment Fund Under Trust Agreement With Dated 1 Charlottesville, VA | $0 | $393,399 |
Medical Society Of S C Charleston, SC | $641,115,218 | $16,899,363 |