Alamance Regional Medical Center Foundation Inc
- Assets
- $7.7m
- Revenue
- $371.6k
- Investments
- $6.7m
- Employees
- 2
- Location
- Greensboro, NC
- Founding
- 09/1985
- Data as of
- 09/2023
- EIN
- 58-1681560
Organization Overview
Alamance Regional Medical Center Foundation Inc is located in Greensboro, NC. The organization was established in 1985. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 09/2023, Alamance Regional Medical Center Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alamance 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 09/2023, Alamance Regional Medical Center Foundation Inc generated $371.6k 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 (5.1%) each year. All expenses for the organization totaled $422.6k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OPERATIONS OF ALAMANCE REGIONAL MEDICAL CENTER, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FURTHER ALAMANCE REGIONAL MEDICAL CENTER'S MISSION TO IMPROVE THE HEALTH OF THE CITIZENS OF ALAMANCE COUNTY AND ITS SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arida MD Muhammad Trustee | Trustee | 0 | $0 |
Gordon Mark Trustee | Trustee | 0 | $0 |
Hunt Stokes Ann Executive Director | Trustee | 0 | $0 |
Wooten Ben Past Chair | OfficerTrustee | 0 | $0 |
Boon Katherine Trustee | 40 | $42,016 | |
Clark William Vice-Chair | OfficerTrustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Physicians Eldercare Pa | 9/29/20 | $500,446 |
Tabula Rasa Healthcare Inc | 9/29/20 | $149,379 |
Mediture Llc | 9/29/20 | $141,651 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $95,286 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $154,296 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $249,582 |
| Total Program Service Revenue | $0 |
| Investment income | $100,427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,281 |
| Net Income from Fundraising Events | -$10,671 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $371,619 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $386,075 |
| 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. | $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 | $4,356 |
| Fees for services: Accounting | $7,526 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,544 |
| Fees for services: Other | $4,937 |
| Advertising and promotion | $288 |
| Office expenses | $2,698 |
| 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 | $131 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $422,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $673,634 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $341,575 |
| Accounts receivable, net | $353 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,653,126 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,202 |
| Total assets | $7,709,890 |
| Accounts payable and accrued expenses | $11,400 |
| Grants payable | $78,570 |
| 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 | $640,687 |
| Total liabilities | $730,657 |
| Net assets without donor restrictions | $2,742,745 |
| Net assets with donor restrictions | $4,236,488 |
| 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 | $7,709,890 |
Grants Awarded
Over the last fiscal year, Alamance Regional Medical Center Foundation Inc has awarded $138,253 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALAMANCE REGIONAL MEDICAL CENTER INC PURPOSE: Departmental needs grants | $88,253 |
OPEN DOOR CLINIC OF ALAMANCE COUNTY PURPOSE: Purchase Telepod and necessary equipment and support to facilitate remote physician visits for patients. | $50,000 |