2025-03-25T13:59:54+00:00 2024-06-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-07-01 561479699 GASTON MEMORIAL HOSPITAL FOUNDATION INC GAST 7048342000 2525 COURT DRIVE PO BOX 1747 GASTONIA NC 28054 DAVID OCONNOR EVP, CFO 7048342000 2025-03-25 true Amy Bibby P00445891 8282542254 2025-03-06 2023 2025-03-06 01:10:19Z DAVID OCONNOR 2525 COURT DRIVE PO BOX 1747 GASTONIA NC 28054 4058046 false X WWW.CAROMONT.ORG X 1985 NC To engage and inspire our community to support CaroMont Health in providing compassionate, exceptional and highly reliable care. 5 3 4 0 0 0 1020867 2729708 0 0 657945 1328338 0 0 1678812 4058046 1074875 1468192 0 0 294263 338044 0 0 0 183125 187044 1552263 1993280 126549 2064766 27795692 32229853 43136 55498 27752556 32174355 TO ENGAGE AND INSPIRE OUR COMMUNITY TO SUPPORT CAROMONT HEALTH IN PROVIDING COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE. false false 1957554 1468192 The mission of the CaroMont Health Foundation is to engage and inspire the community to support CaroMont Health by providing compassionate, exceptional and highly reliable care. When donors choose to support the CaroMont Health Foundation, their contributions help fund scholarships, workplace development opportunities for employees and local students, and grants for lifesaving and life-changing treatments. 1957554 true true false false false false false false true false false false true false true false true false false false false false false false false false true true true false false false false false false false false false false false false false true false false false true X 1 0 true 4 true false false false false false false false false false false false false X 5 3 false false false false true true true true true false false true true true true true true true true false NC X THE ORGANIZATION 7048342000 2525 COURT DRIVE GASTONIA NC 28054 Dr George Adcock lll Secretary 1.0 40.0 X X 0 605913 129008 Mr David O'Connor EVP/CFO/Asst. Treasurer/Director 1.0 54.0 X X 0 956025 184000 Ms Janie Peak Chair 1.0 1.0 X X 0 0 0 Mr Jason Austell Director 1.0 2.0 X 0 0 0 Mr Steven Wilson Director 1.0 2.0 X 0 0 0 Mr K Christopher Peek CEO 1.0 54.0 X 0 1764966 309455 Ms Leigh Hickman CLO/Asst. Sec. 1.0 54.0 X 0 564906 110160 Ms Mary Grace Bean Director Foundation 40.0 X 129995 0 28246 129995 3891810 760869 1 false true false 0 493733 2235975 2729708 0 0 0 0 0 737935 737935 0 0 590403 590403 0 590403 590403 0 0 0 0 0 4058046 0 0 1328338 1356513 1356513 111679 111679 268026 268026 13489 13489 37387 37387 19142 19142 35726 35726 94456 94456 0 0 56862 56862 0 0 0 0 1993280 1957554 35726 0 291489 459037 11893 1497921 43444 24459 0 0 0 0 0 21606226 23434210 0 0 5842640 6814226 27795692 32229853 43136 55498 0 0 0 43136 55498 X 21898022 23862209 5854534 8312146 27752556 32174355 27795692 32229853 2064766 2357033 0 X false true X true false X 1293604 1066885 726948 1020867 2729708 6838012 0 0 1293604 1066885 726948 1020867 2729708 6838012 721475 6116537 510942 451329 624655 596720 737935 2921581 0 0 0 0 0 0 0 9759593 0 0.6267 0.6502 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - , COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5876534 2091174 800194 180461 275295 8312146 5337172 369999 468312 298949 5876534 5600466 395644 -468977 188614 1347 5337172 6753405 629887 1142505 31476 2893855 5600466 3930785 2810378 147349 135107 6753405 0.0 1.0 0.0 false false SHOVELIN SCHOLARSHIP FUND 3788718 HUDSON NURSING SCHOLARSHIP FUND 335847 BUCCI SCHOLARSHIP FUND 5559 WOMEN OPTIMIZE WELLNESS FUND 392986 EMPLOYEE SCHOLARSHIP FUND 155405 DAMORE SCHOLARSHIP FUND 44235 ONCOLOGY SCHOLARSHIP FUND 39069 SELF SCHOLARSHIP 39877 COVID19 Investments care first fund 726191 Investments Clinical research fund 21442 Investments in Courtland 79153 Investments in Aux Scholarship 782862 Woody Family scholarship 76456 workforce Scholarship 272136 George Wash Hall Scholarship 29178 Next generation scholarship 9250 Investments mammography svcs fund 15862 6814226 0 X 4931816 2357033 0 2357033 2574783 35726 1447537 1483263 4058046 510017 0 0 510017 35726 1447537 1483263 1993280 Schedule D, Part V, Line 4 Intended uses of endowment funds THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The System is a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. The System has determined that it does not have any unrecognized tax benefits or obligations as of June 30, 2024 and 2023. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Grants in Revenues - 1440697 Expenses in Revenues - 6840 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Grants in Revenues - 1440697 Expenses in Revenues - 6840 true Backpack Weekend Food Program PO Box 551030 Gastonia NC 28055 471591744 501(C)(3) 8500 Operational Support Belmont Abbey College 100 BELMONT MT HOLLY ROAD BELMONT NC 28012 560547498 501(C)(3) 91844 Operational Support Boys and Girls Club PO Box 23 Gastonia NC 28053 561419498 501(C)(3) 26500 Operational Support Cancer Services of Gaston County 306 S Columbia Street Gastonia NC 28054 561164253 501(C)(3) 40000 Community Assistance Dream Center Academy 635 S Myrtle School Rd Gastonia NC 28052 421695206 501(C)(3) 25000 Operational Support Gaston College 201 Highway 321 South Dallas NC 28034 237079454 501(C)(3) 132493 Community Assistance Caromont Health 2525 Court Drive Gastonia NC 28054 581636959 501(C)(3) 490855 Operational Support Heart Society of GC 1201 East Garrison Blvd Gastonia NC 28054 561330921 501(C)(3) 15000 Operational Support Piedmont Chapter of the Links Inc PO Box 1672 Gastonia NC 28052 582512964 501(C)(4) 12000 Operational Support 8 1 Scholarships 24 111679 Shovelin, Bucci, Hudson, Team Caromont, D'Amore, Self, and Auxillary Scholarships Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. OTHER ORGANIZATIONS THAT RECEIVE GRANT FUNDS MAY BE REQUIRED TO SUBMIT MONTHLY REPORTS THAT ARE MONITORED BY MANAGEMENT AND/OR THE BOARD OF DIRECTORS. ALL GRANTS DECISIONS ARE DOCUMENTED. false true false false false false true false false Mr David O'Connor EVP/CFO/Asst. Treasurer/Director 0 602432 0 243238 0 110355 0 159219 0 24781 0 1140025 0 95362 Dr George Adcock lll Secretary 0 404166 0 137602 0 64145 0 104259 0 24749 0 734921 0 51109 Mr K Christopher Peek CEO 0 1025632 0 515175 0 224159 0 284284 0 25171 0 2074421 0 188258 Ms Leigh Hickman CLO/Asst. Sec. 0 376380 0 127220 0 61306 0 93072 0 17088 0 675066 0 47249 Ms Mary Grace Bean Director Foundation 109367 0 20566 0 62 0 13808 0 14438 0 158241 0 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation COMPENSATION PAID TO CEO OF CAROMONT HEALTH, INC. WAS PAID BY GASTON MEMORIAL HOSPITAL, INC D/B/A CAROMONT REGIONAL MEDICAL CENTER, A RELATED ORGANIZATION. CAROMONT REGIONAL MEDICAL CENTER UTILIZED THE FOLLOWING METHODS TO DETERMINE APPROPRIATE COMPENSATION FOR CEO THAT HAD INFLUENCE OVER THE ORGANIZATION'S ACTIVITIES: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACTS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The following individuals received deferred compensation allocations by related organization CaroMont Regional Medical Center from a Supplemental Executive Retirement Plan (SERP): DAVID O'CONNOR - $ 116,019 K. CHRISTOPHER PEEK - $ 241,084 Dr. George Adcock III - $ 62,178 Leigh Hickman - $ 57,768 Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization Executive Incentive Compensation Plan for all key employees based on the achievement of annual Business Objectives which include a financial goal attributable to operating margin. Manager Incentive Plan based on consolidated corporate and individual performance goals. FORM 990, PART V AND PART VII THE FILING ORGANIZATION USES A RELATED ORGANIZATION FOR ITS PAYROLL FUNCTION. ALL W-2S ARE FILED BY THE COMMON PAYMASTER. HOWEVER, AMOUNTS PAID BY THE COMMON PAYMASTER ARE TREATED AS IF PAID DIRECTLY BY THE ORGANIZATION FOR WHICH SERVICES ARE PERFORMED. Form 990, Part VI, Line 18 THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VI, Line 6 Classes of members or stockholders THE SOLE MEMBER OF THE CORPORATION IS CAROMONT HEALTH, INC., A NORTH CAROLINA NOT-FOR-PROFIT CORPORATION. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE MEMBERS OF THE BOARD OF DIRECTOR ARE ELECTED AT WILL BY ITS SOLE MEMBER OF THE CORPORATION ACTING THROUGH ITS BOARD OF DIRECTORS AT ITS ANNUAL MEETING FROM A SLATE OF NOMINEES PROVIDED TO THE CAROMONT HEALTH, INC. BOARD BY THE FOUNDATION. ALL DIRECTORS ARE SUBJECT TO REMOVAL BY THE CAROMONT HEALTH BOARD OF DIRECTORS. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders THE FOLLOWING POWERS OF THE CORPORATION SHALL BE RESERVED TO CAROMONT HEALTH, INC., THE PARENT CORPORATION AND HOLDING COMPANY OF THE CORPORATION: (A) FINANCIAL POWERS, INCLUDING THE POWER TO APPROVE AN OPERATING BUDGET FOR THE CORPORATION, POWER TO APPROVE COMPENSATION PLANS, AND POWER TO ASSUME DEBT ON BEHALF OF THE CORPORATION; (B) GOVERNING POWERS, INCLUDING THE POWER TO APPROVE ALL CHANGES TO THE GOVERNING DOCUMENTS OF THE CORPORATION AND POWER TO APPROVE THE MISSION, VISION AND VALUES OF THE CORPORATION; AND (C) STRATEGIC POWERS, INCLUDING THE POWER TO APPROVE ALL CERTIFICATE OF NEED APPLICATIONS WHICH THE CORPORATION MAY FILE IN ANY STATE, AND THE POWER TO APPROVE ALL SALE OR LEASE TRANSACTIONS OF THE CORPORATION. IN ADDITION, DECISIONS OF THE GOVERNING BODY INCLUDING THE ELECTION AND REMOVAL OF MEMBERS OF THE BOARD OR DIRECTORS MUST BE APPROVED BY THE CORPORATION'S SOLE MEMBER, CAROMONT HEALTH, INC. Form 990, Part VI, Line 11b Review of form 990 by governing body THE ORGANIZATION'S FORM 990 WAS REVIEWED BY THE AUDIT FINANCE INVESTMENT COMMITTEE OF THE BOARD OF DIRECTORS OF CAROMONT HEALTH PRIOR TO PRESENTATION TO THE FULL BOARD BEFORE THE FORM WAS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy MEMBERS OF THE BOARD OF DIRECTORS, MEMBERS OF SENIOR LEADERSHIP, ANY PHYSICIAN HOLDING A LEADERSHIP OR ADMINISTRATIVE POSITION WITHIN THE GASTON MEMORIAL HOSPITAL FOUNDATION, INC 56-1479699 ORGANIZATION, DIRECTORS, RESEARCH STUDY PERSONNEL, MANAGERS AND ALL STAFF MEMBERS OF THE PURCHASING AND MARKETING DEPARTMENTS AND ANY OTHER DEPARTMENT DEEMED TO HAVE MATERIAL DECISION MAKING RESPONSIBILITIES ON BEHALF OF CAROMONT HEALTH SHALL FULLY AND TRUTHFULLY COMPLETE A QUESTIONNAIRE CONCERNING POTENTIAL AND ACTUAL CONFLICTS OF INTEREST ANNUALLY. SUCH QUESTIONNAIRE SHALL IDENTIFY THE INDIVIDUAL'S OBLIGATION TO IMMEDIATELY MAKE THE CORPORATE RESPONSIBILITY OFFICER AWARE IN WRITING OF ANY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AS THEY MAY ARISE AND CONTAIN SAID INDIVIDUAL'S AGREEMENT TO ABIDE BY ALL TERMS AND CONDITIONS OF THIS POLICY AS A CONDITION OF RETAINING THEIR POSITION. SUCH QUESTIONNAIRES ARE REVIEWED ANNUALLY BY THE CHIEF LEGAL OFFICER AND THE CORPORATE RESPONSIBILITY OFFICER. QUESTIONNAIRES SUBMITTED BY DIRECTORS ARE REVIEWED ANNUALLY BY THE NOMINATING COMMITTEE OF THE BOARD. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE CEO, CFO, COO, CMO AND CHIEF LEGAL OFFICER ARE COMPENSATED FOR THEIR SERVICES BY CAROMONT REGIONAL MEDICAL CENTER, A SUBSIDIARY OF CAROMONT HEALTH, INC. THE COMPENSATION OF ALL CAROMONT EXECUTIVES FOR EACH YEAR IS ESTABLISHED BY THE COMPENSATION COMMITTEE OF THE CAROMONT HEALTH BOARD OF DIRECTORS, BASED ON GUIDANCE AND OPINIONS PROVIDED BY AN INDEPENDENT, THIRD-PARTY COMPENSATION CONSULTANT. A MAJORITY OF THE BOARD MEMBERS WHO SERVE ON THE COMPENSATION COMMITTEE ARE INDEPENDENT AND ALL ARE FREE FROM ANY CONFLICT OF INTEREST. ANY COMPENSATION COMMITTEE MEMBER WHO DEVELOPS A CONFLICT OF INTEREST DURING HIS/HER TERM WITH RESPECT TO THE DISCUSSION OF ANY EXECUTIVE'S COMPENSATION DOES NOT PARTICIPATE IN THE DISCUSSION OR DECISION-MAKING BY THE REMAINING MEMBERS OF THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE RETAINS JURISDICTION OVER THE TOTAL COMPENSATION PACKAGE FOR EXECUTIVES AND REVIEWS EXECUTIVE BENEFITS AND PERQUISITES AS WELL AS TOTAL CASH COMPENSATION. COMPENSATION FOR THE CEO IS ESTABLISHED THROUGH A PROCESS OF PERFORMANCE EVALUATION, COMPARISON WITH COMPARABLE MARKET DATA AND DETERMINATION BY THE COMPENSATION COMMITTEE OF ACCEPTABLE SALARY RANGE AND PERCENTILE RANKING. ALL COMPENSATION DECISIONS FOR THE CEO ARE APPROVED BY THE COMPENSATION COMMITTEE, AS LONG AS THE COMPENSATION DECISIONS ARE CONSISTENT WITH THE EXECUTIVE COMPENSATION PHILOSOPHY. THE PROCESS FOR DETERMINING COMPENSATION FOR EXECUTIVE MANAGEMENT, UTILIZES COMPENSATION SURVEYS AND STUDIES. FULL COLLECTED COMPENSATION INFORMATION AND ANY COMPENSATION OPINIONS PROVIDED DURING THESE PROCESSES WILL BE KEPT WITH THE COMPENSATION COMMITTEE OR BOARD MINUTES, AS APPLICABLE. Form 990, Part VI, Line 15b Process to establish compensation of other employees PACKAGE FOR EXECUTIVES AND REVIEWS EXECUTIVE BENEFITS AND PERQUISITES AS WELL AS TOTAL CASH COMPENSATION. COMPENSATION FOR THE CEO IS ESTABLISHED THROUGH A PROCESS OF PERFORMANCE EVALUATION, COMPARISON WITH COMPARABLE MARKET DATA AND DETERMINATION BY THE COMPENSATION COMMITTEE OF ACCEPTABLE SALARY RANGE AND PERCENTILE RANKING. ALL COMPENSATION DECISIONS FOR THE CEO ARE APPROVED BY THE COMPENSATION COMMITTEE, AS LONG AS THE COMPENSATION DECISIONS ARE CONSISTENT WITH THE EXECUTIVE COMPENSATION PHILOSOPHY. THE PROCESS FOR DETERMINING COMPENSATION FOR EXECUTIVE MANAGEMENT, UTILIZES COMPENSATION SURVEYS AND STUDIES. FULL COLLECTED COMPENSATION INFORMATION AND ANY COMPENSATION OPINIONS PROVIDED DURING THESE PROCESSES WILL BE KEPT WITH THE COMPENSATION COMMITTEE OR BOARD MINUTES, AS APPLICABLE. Form 990, Part VI, Line 19 Required documents available to the public AT THIS TIME, THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE ENTIRE ORGANIZATION'S COMBINED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. Form 990, Part XII, Line 2c THE PROCESS FOR THIS HAS NOT CHANGED FROM THE PRIOR YEAR. CaroMont Health Inc 2525 Court Drive Gastonia NC 28054 581636959 MEDICAL SERVICES NC 501(c)(3) Type II NA false CaroMont Health Services Inc 2526 Court Drive Gastonia NC 28054 561455630 OUTPATIENT SERVICES NC 501(c)(3) 3 CaroMont Health Inc false CaroMont Medical Group Inc 2528 Court Drive Gastonia NC 28054 561479712 MEDICAL GROUP NC 501(c)(3) 10 CaroMont Health Inc false Hospice of Gaston County Inc 2529 Court Drive Gastonia NC 28054 581341530 Hospice Care NC 501(c)(3) 7 CaroMont Health Inc false Gaston Memorial Hospital Inc 2530 Court Drive Gastonia NC 28054 560619359 HOSPITAL NC 501(c)(3) 3 CaroMont Health Inc false false true true false false false false false true false false true false true false true true true true