2025-03-25T14:16:01+00:00 2024-06-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-07-01 561479712 CAROMONT MEDICAL GROUP INC CARO 7048342000 2525 Court Drive PO Box 1747 Gastonia NC 280531747 David O'Connor EVP, CFO 7048342000 2025-03-25 true true Amy Bibby P00445891 8282542254 2025-03-21 2023 2025-03-06 01:10:19Z David O'Connor 2525 Court Drive PO Box 1747 Gastonia NC 280531747 165757028 false X X 1985 NC TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE. 5 2 1187 0 0 0 0 0 150058738 161728368 98416 -48187 5174422 4005688 155331576 165685869 0 0 0 0 151644002 164116554 0 0 0 40535327 44652582 192179329 208769136 -36847753 -43083267 71862686 82782092 36011663 34390679 35851023 48391413 TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE. false false 198420907 165278902 CaroMont Medical Group owns and operates a network of 50 primary care and specialty physician practices and five urgent care centers. The group employs more than 200 physicians and over 70 advanced practitioners in 25 different specialties. In fiscal year 2024, the medical group provided 794,153 patient visits. CaroMont Medical Group is active in its communities in a number of ways. The practices make monetary and in-kind contributions to community non-profit organizations, physicians and staff volunteer at community events and health fairs, and leaders serve on community boards. 198420907 true false false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false false true true false false false true 38 0 true 1187 true false false false false false false false false false false false false X 5 2 false false false false true true true true true false false true true true true true true true true false X CAROMONT MEDICAL GROUP INC 7048342000 2525 Court Drive Gastonia NC 28054 Mr Frank Stewart Chair 1.0 1.0 X X 0 0 0 Dr Andrew Dyksterhouse Director 20.0 20.0 X 264395 181231 58427 Dr Jay Hendler Director 40.0 1.0 X 500289 0 58372 Dr Mark Thompson Director 40.0 X 812184 0 58494 Mr Bob Hovis Director 1.0 2.0 X 0 32703 0 Ms Annette Carter Director 1.0 1.0 X 0 0 0 Mr David O'Connor EVP/CFO/Asst. Treasurer 1.0 54.0 X 0 956025 184000 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 Dr Dustin Letts Physcian 40.0 X 1026424 0 67985 Dr Inderjeet Singh Physcian 40.0 X 1298837 0 67977 Dr James Greelish Physcian 40.0 X 1196138 0 67985 Dr Oh Chang Physcian 40.0 X 1108885 0 67886 Dr Paul Kochupura Physcian 40.0 X 1119408 0 24296 7326560 3499831 1075037 339 false true false WEATHERBY LOCUMS INC PO BOX 972633 DALLAS TX 753972633 TEMP PERSONNEL 3160777 NOVANT MEDICAL GROUP INC(PHYSICIAN PAY) 1718 EAST 4TH ST STE 404 CHARLOTTE NC 282043193 PHYSICIAN STAFFING 931391 BERRY IV JOHN S 510 BEARD ST TALLAHSSEE FL 32303 PHYSICIAN STAFFING 376316 COMPHEALTH PO BOX 972651 DALLAS TX 753972651 PHYSICIAN STAFFING 334092 POSITIVE REINFORCEMENT NURSING 614 EAGLE RD-APT 3G GREENSBORO NC 27407 TEMP PERSONNEL 251431 10 0 PATIENT SERVICE REVENUE 621400 161728368 161728368 0 0 0 0 161728368 22972 22972 455154 455154 0 455154 455154 71159 0 -71159 -71159 -71159 Miscellaneous Revenue 621400 1935875 1935875 Shared Savings 900099 342773 342773 Care Coordination Revenue 900099 1266749 1266749 5137 5137 0 0 3550534 165685869 165278902 0 406967 1758098 1758098 135600912 128538861 7062051 5023281 4622246 401035 14811567 13322484 1489083 6922696 6508742 413954 3943787 3265599 678188 0 21927 21927 2275265 2156833 118432 5553671 5533874 19797 35380 23494 11886 171784 171784 4920750 4772257 148493 2127910 2126353 1557 Medical Supplies 14239497 14235744 3753 Bad Debt 10214703 10214703 Lease Operating Expense 1147908 1147908 0 0 0 0 208769136 198420907 10348229 0 -284213 -245859 6050967 6285557 0 0 1274735 1461740 687094 1471298 124407985 50842930 63896819 73565055 0 0 107737 69712 129547 174589 71862686 82782092 36007434 34296781 0 4229 93898 36011663 34390679 X 35851023 48391413 35851023 48391413 71862686 82782092 X -43083267 55623657 X false true X true false X 0 120168430 127334613 139124385 150058738 161732118 698418284 4163857 3652576 4956872 5174422 4005688 21953415 0 0 124332287 130987189 144081257 155233160 165737806 720371699 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 720371699 16839 74389 33226 117377 22972 264803 0 16839 74389 33226 117377 22972 264803 0 0 0 0 0 0 0 124349126 131061578 144114483 155350537 165760778 720636502 0.9996 0.9996 0 0.0004 X 7376407 7376407 75384080 23352071 52032009 14735054 8556832 6178222 26462288 18681461 7780827 450156 252566 197590 73565055 ESTIMATED 3RD PARTY SETTLEMENTS 4229 SBITA 89669 93898 X 209364139 55623657 55623657 153740482 11945387 11945387 165685869 196823749 0 0 196823749 11945387 11945387 208769136 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 2(d) Other revenues in audited financial statements not in form 990 Transfer of Equity - 55623657 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Bad Debt Expense - 10214703 Management Fee in Expense - 5137 Contributions Classed as Revenue - 1725547 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Bad Debt Expense - 10214703 Management Fee in Expense - 5137 Contributions Classed as Revenue - 1725547 false true false false false true true false false Dr Mark Thompson Director 565673 0 242193 0 4318 0 43200 0 15294 0 870678 0 0 0 Dr Jay Hendler Director 426740 0 69600 0 3949 0 43200 0 15172 0 558661 0 0 0 Dr Andrew Dyksterhouse Director 151087 159231 111985 22000 1323 0 33821 0 24606 0 322822 181231 203231 0 Mr K Christopher Peek CEO 0 1025632 0 515175 0 224159 0 284284 0 25171 0 2074421 0 188258 Mr David O'Connor EVP/CFO/Asst. Treasurer 0 602432 0 243238 0 110355 0 159219 0 24781 0 1140025 0 95362 Ms Leigh Hickman CLO/Asst. Sec. 0 376380 0 127220 0 61306 0 93072 0 17088 0 675066 0 47249 Dr Inderjeet Singh Physcian 470245 0 825473 0 3119 0 43200 0 24777 0 1366814 0 0 0 Dr James Greelish Physcian 828518 0 363543 0 4077 0 43200 0 24785 0 1264123 0 0 0 Dr Paul Kochupura Physcian 571178 0 547276 0 954 0 0 0 24296 0 1143704 0 0 0 Dr Dustin Letts Physcian 566563 0 458412 0 1449 0 43200 0 24785 0 1094409 0 0 0 Dr Oh Chang Physcian 731189 0 374884 0 2812 0 43200 0 24686 0 1176771 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 Leigh Hickman - $ 57,768 Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization Certain CaroMont Medical Group Inc. Physician's Compensation packages are based on the individual physician's net results from operations as calculated based soley on his/her net charges less his/her allocable share of clinic overhead costs. 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. Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization Certain CaroMont Medical Group Inc. Physician's Compensation packages are based on the individual physician's net results from operations as calculated based soley on his/her net charges less his/her allocable share of clinic overhead costs. 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 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 Board of Directors consists of five(5) members; all of whom are appointed by the board of directors of CaroMont Health. Three (3) members also serve as members of the CaroMont Health Board and one (1) member is the Chair of the Physician Executive Council. 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. 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 and by 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 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 COMPLIANCE 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 COMPLIANCE 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, CPE 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 THE CEO, CFO, COO, CPE 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 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 VIII, Line 11d Other Miscellaneous Revenue Management Fee Income - Total Revenue: 5137, Related or Exempt Function Revenue: 5137, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances EQUITY TRANSFER - 55623657; Form 990, Part XII, Line 2c RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. 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