Forsyth Medical Center Foundation
DBA: NOVANT HEALTH FORSYTH MEDICAL CENTER FOUNDATION
SEE SCHEDULE O
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$5.1M
Total Expenses
$4.6M
Net Assets
$89.5M
Employees
8
Volunteers
22
Grants Paid
$3.6M
Program Expense Ratio
83.0%
Fundraising Efficiency
689.9%
This nonprofit profile presents IRS Form 990 tax filing data for Forsyth Medical Center Foundation (EIN: 56-2120959), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
Chat with Forsyth Medical Center Foundation's data & any nonprofit
Coming SoonCompare organizations, analyze trends, and ask questions about Forsyth Medical Center Foundation's finances, compensation, and programs — or any other nonprofit — using our AI-powered research assistant.
Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Forsyth Medical Center Foundation is a 501(c)(3) nonprofit headquartered in WINSTON SALEM, NC, founded in 1981. The organization has held tax-exempt status since 1999. In its 2024 filing, the organization reported $5.1M in total revenue, a 8.4% decrease from the prior year, and $4.6M in total expenses. The organization employed 8 people and engaged 22 volunteers. KIMBERLY HENDERSON, FMR OFFICER, is the highest-compensated individual at $1,620,829. The organization runs 1 program, totaling $3.8M in program expenses. 4 of 6 recommended governance policies are in place. Executive benefits include first-class travel, companion travel, housing allowance, discretionary spending.
Forsyth Medical Center Foundation is classified under NTEE code E112. Its foundation type is 15.
Programs(Tax Year 2024)
1 record
Forsyth Medical Center Foundation operates 1 program, with total program expenses of $3.8M. Forsyth Medical Center Foundation's largest program accounts for 100% of total program spending.
THE ORGANIZATION OPERATES TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR ESSENTIAL PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY OF NOVANT HEALTH FORSYTH MEDICAL CENTER, NOVANT HEALTH KERNERSVILLE MEDICAL CENTER, AND NOVANT HEALTH CLEMMONS MEDICAL CENTER, AS WELL AS AFFILIATED OPERATIONS IN THE NOVANT HEALTH SYSTEM AND OTHER HEALTHCARE RELATED COMMUNITY CAUSES.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, Forsyth Medical Center Foundation's revenue has declined from $5.3M to $5.1M, a 2.4% decrease. Program expenses represent 83% of total spending.
Revenue decreased 8.4% year-over-year, while expenses declined 1.9%. net assets rose to $89.5M, up 8.7% from the prior year. the organization added 3 employees.
Forsyth Medical Center Foundation derives 37% from contributions and grants, with 63% from investment income.
Revenue is diversified across investment income (63%), contributions and grants (37%).
Forsyth Medical Center Foundation allocates 83% to programs, 11% to management and general, 6% to fundraising.
Revenue declined by 8.4% and expenses declined by 1.9% year over year.
Forsyth Medical Center Foundation distributed $3.6M in grants to other organizations and individuals, representing 78% of total expenses.
Over 6 filings from 2019–2024, Forsyth Medical Center Foundation declined revenue from $5.3M to $5.1M (-2.4%) while maintaining a program expense ratio of 83%.
Forsyth Medical Center Foundation holds $89.5M in total assets against $63K in liabilities (debt-to-asset ratio of 0%). The organization has 232.3 months of operating reserves. Cash and equivalents of $1.1M cover approximately 2.8 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $5.1M | $1.9M | $254K | $0 | $3.3M |
| 2023 | $5.6M | $4.0M | $0 | $0 | $1.6M |
| 2022 | $6.5M | $3.9M | $0 | $0 | $2.6M |
| 2021 | $11.8M | $2.6M | $0 | $0 | $9.2M |
| 2020 | $4.5M | $2.7M | $41K | $0 | $1.8M |
| 2019 | $5.3M | $2.1M | $62K | $0 | $3.2M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $4.6M | $3.8M | $513K | $272K | $3.6M |
| 2023 | $4.7M | $4.1M | $316K | $202K | $4.0M |
| 2022 | $4.2M | $3.5M | $475K | $216K | $3.4M |
| 2021 | $8.0M | $7.3M | $327K | $400K | $7.0M |
| 2020 | $6.3M | $5.5M | $445K | $390K | $4.2M |
| 2019 | $4.6M | $3.6M | $499K | $451K | $3.3M |
Program Expense Ratio
83.0%
Admin Expense Ratio
11.1%
Fundraising Efficiency
689.9%
Operating Reserve
232.3 mo
People & Compensation(Tax Year 2024)
34 records
Forsyth Medical Center Foundation reported compensation for 34 officers and key employees. Total officer compensation was $6.7M, representing 144.9% of total expenses. 5 individuals received total compensation exceeding $500,000.
Forsyth Medical Center Foundation's highest-compensated individual received $1.6M in total compensation. Total officer compensation of $6.7M represents 144.9% of total expenses. 3 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| KIMBERLY HENDERSON | FMR OFFICER | Former | — | $0 | $1,421,376 | $1,620,829 |
| GEOFFREY GARDNER | CFO (TO 4/28/24) | Officer | 0.20 | $0 | $1,254,252 | $1,299,330 |
| ALICE POPE | EVP/CFO (FR 4/29/24) | Officer | 0.20 | $0 | $991,687 | $1,175,156 |
| DOROTHY ANN CAULKINS | SVP FDN (TO 6/1/24) | Officer | 8.00 | $0 | $803,158 | $842,395 |
| JALEEMA SPEAKS MD | TRUSTEE/OBGYN | Director | 0.20 | $0 | $472,760 | $530,026 |
| JOHN CARD MD | CHAIR/INTERNIST | OfficerDirector | 0.50 | $0 | $451,509 | $488,264 |
| SHARON HARRINGTON | VP CHIEF PHILANTHROPY OFF(FR 6/2/24) | Officer | 8.00 | $0 | $290,978 | $305,826 |
| HEATHER EGAN | EXEC DIRECTOR | Officer | 25.00 | $171,588 | $0 | $218,583 |
| THOMAS GROTE MD | TRUSTEE/ONCOLOGIST | Director | 0.20 | $0 | $199,116 | $209,723 |
| ANDREW SCHNEIDER MD | TRUSTEE (TO 12/31/24)/CHIEF OF STAFF | Director | 0.20 | $0 | $6,105 | $6,105 |
| ROLLAND BARRETT MD | TRUSTEE/CLIN ETHICS MED ED CONSULT | Director | 0.20 | $0 | $1,534 | $1,534 |
| TADELRO BROWN | SECRETARY | OfficerDirector | 0.50 | $0 | $0 | $0 |
| SHERRY POLONSKY | TREASURER | OfficerDirector | 0.50 | $0 | $0 | $0 |
| THOMAS MCDANIEL | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| JOSEPH LOGAN | VICE CHAIR | OfficerDirector | 0.50 | $0 | $0 | $0 |
| JOHN-MARK MITCHELL | TRUSTEE (TO 4/30/24) | Director | 0.20 | $0 | $0 | $0 |
| HENRI CANCIO-FITZGERALD | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| GREGORY BREWER | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| GARY ORTIZ | TRUSTEE (TO 12/31/24) | Director | 0.20 | $0 | $0 | $0 |
| ANDREA GENDRACHI | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| BONNIE DONAHUE | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| CHARLES BLIXT | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| DAMON SANDERS-PRATT | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| DAVID BAILEY | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| ELIZABETH MADDEN | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| EVA WU | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| GWENDOLYN CLEMENTS | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JOHN WOLFE | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| JOSEPH ELY | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| LARRY PULLIAM | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| MARY FOWLER | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| RONNIE WILLARD | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
| SUZANNE JABBOUR | TRUSTEE (FR 1/1/24) | Director | 0.20 | $0 | $0 | $0 |
| STEPHANIE FLORES DE VALGAZ | TRUSTEE | Director | 0.20 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
KIMBERLY HENDERSON
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
GEOFFREY GARDNER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
ALICE POPE
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
DOROTHY ANN CAULKINS
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
JALEEMA SPEAKS MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
JOHN CARD MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
SHARON HARRINGTON
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
HEATHER EGAN
Base Salary
$157,547
Bonus
$13,009
Other Reportable
$1,032
Retirement/Deferred
$9,992
Nontaxable Benefits
$37,003
Executive Perks
THOMAS GROTE MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Executive Perks
Governance & Compliance(Tax Year 2024)
Forsyth Medical Center Foundation has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 27 members, 22 of whom are independent.
Forsyth Medical Center Foundation's financial statements are audited, an audit committee oversees the process, the organization is subject to a federal grant audit (Single Audit).
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
11 records
Forsyth Medical Center Foundation awarded $3.2M across 5 grants to organizations. Top recipients include NOVANT HEALTH INC (WINSTONSALEM, NC) — $1.9M for to support novant health, inc. and affiliates; FORSYTH MEMORIAL HOSPITAL INC (WINSTONSALEM, NC) — $1.1M for to support nhfmc, nhcmc, and nhkmc; COMMUNITY CARE CENTER FOR FORSYTH COUNTY (WINSTONSALEM, NC) — $125K for community outreach. The organization also provided grants to individuals (4,870 recipients) totaling $368K, including patient transportation, medication for indigent patients, employee emergency fund, mammograms, patient assistance, scholarships.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| NOVANT HEALTH INC561376950 | WINSTONSALEM, NC | $1.9M | TO SUPPORT NOVANT HEALTH, INC. AND AFFILIATES |
| FORSYTH MEMORIAL HOSPITAL INC560928089 | WINSTONSALEM, NC | $1.1M | TO SUPPORT NHFMC, NHCMC, AND NHKMC |
| COMMUNITY CARE CENTER FOR FORSYTH COUNTY581403699 | WINSTONSALEM, NC | $125K | COMMUNITY OUTREACH |
| FORSYTH COUNTY566000450 | WINSTONSALEM, NC | $107K | TO SUPPORT FORYSTH COUNTY DEPARTMENT OF PUBLIC HEALTH |
| FOUNDATION HEALTH SYSTEMS CORP561373175 | WINSTONSALEM, NC | $42K | TO SUPPORT TODAY'S WOMAN |
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| PATIENT TRANSPORTATION | 35 | — |
| MEDICATION FOR INDIGENT PATIENTS | 21 | — |
| EMPLOYEE EMERGENCY FUND | 230 | $160K |
| MAMMOGRAMS | 452 | $97K |
| PATIENT ASSISTANCE | 4,118 | $73K |
| SCHOLARSHIPS | 14 | $38K |
Supplemental Financial Data(Tax Year 2024)
The endowment stands at $14.5M, with $3.3M in new contributions.
Filing History(Tax Years 1999–2024)
6 records
Showing the 6 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $5.1M | $4.6M | $89.5M |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $5.6M | $4.7M | $82.3M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $6.5M | $4.2M | $76.1M |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $11.8M | $8.0M | $82.4M |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $4.5M | $6.3M | $76.1M |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $5.3M | $4.6M | $74.5M |
| 1999–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Forsyth Medical Center Foundation do?
SEE SCHEDULE O
How much revenue does Forsyth Medical Center Foundation have?
Forsyth Medical Center Foundation reported $5,125,851 in total revenue for tax year 2024, down 8.4% from the prior year.
Who is the highest-paid executive at Forsyth Medical Center Foundation?
KIMBERLY HENDERSON, FMR OFFICER, received $1,620,829 in total compensation as of tax year 2024.
Is Forsyth Medical Center Foundation a 501(c)(3)?
Yes, Forsyth Medical Center Foundation is classified as a 501(c)(3) tax-exempt organization.
Where is Forsyth Medical Center Foundation located?
Forsyth Medical Center Foundation is headquartered in WINSTON SALEM, NC 27103.
How many employees does Forsyth Medical Center Foundation have?
Forsyth Medical Center Foundation has 8 employees and 22 volunteers as of tax year 2024.
Is Forsyth Medical Center Foundation audited?
Yes, Forsyth Medical Center Foundation's financial statements are audited, and the organization has an audit committee.
How much does Forsyth Medical Center Foundation spend on fundraising?
Forsyth Medical Center Foundation reported $271,831 in fundraising expenses for tax year 2024, which represents 5.9% of total expenses.
Does Forsyth Medical Center Foundation give grants?
Yes, Forsyth Medical Center Foundation distributed $3,622,380 in grants to other organizations and individuals in tax year 2024. Top recipients include NOVANT HEALTH INC, FORSYTH MEMORIAL HOSPITAL INC, COMMUNITY CARE CENTER FOR FORSYTH COUNTY.
Data Source
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
Ask anything about
any nonprofit
Get instant, data-backed answers about nonprofit compensation, financials, and trends. Join the waitlist for early access. Free tier included at launch.
Trusted by nonprofit professionals
3.6M+
IRS Filings
1.7M+
Organizations
28M+
Comp Records