Nonprofit · EIN 56-1479712
CAROMONT MEDICAL GROUP INC
Tax-exempt · GASTONIA, NC 28054
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2024 | 990 | $165,685,869 | $208,769,136 | -$43,083,267 | $82,782,092 | $34,390,679 | $48,391,413 |
| June 30, 2023 | 990 | $155,331,576 | $192,179,329 | -$36,847,753 | $71,862,686 | $36,011,663 | $35,851,023 |
Financial details: 990 for the year ended June 30, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $161,728,368
- Investment income
- -$48,187
- Net rental income
- $455,154
- Net gain from sales of assets
- -$71,159
- Other revenue
- $4,005,688
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,758,098
- Other salaries and wages
- $135,600,912
- Salaries, compensation and benefits (total)
- $164,116,554
- Professional fundraising fees
- $0
- Occupancy
- $5,553,671
- Travel
- $35,380
- Depreciation
- $4,920,750
- Program services (functional)
- $198,420,907
- Management and general (functional)
- $10,348,229
Balance sheet and other
- Total assets, start of year
- $71,862,686
- Total assets, end of year
- $82,782,092
- Total liabilities, end of year
- $34,390,679
- Net assets, end of year
- $48,391,413
- Land, buildings and equipment
- $73,565,055
- Net assets without donor restrictions
- $48,391,413
- Gross receipts
- $165,757,028
- Employees
- 1,187
- Volunteers
- 0
- Year formed
- 1985
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Mr K Christopher Peek | CEO Officer | 1 | $0 | $1,764,966 | $309,455 |
| Dr Inderjeet Singh | Physcian Highest-paid employee | 40 | $1,298,837 | $0 | $67,977 |
| Dr James Greelish | Physcian Highest-paid employee | 40 | $1,196,138 | $0 | $67,985 |
| Dr Oh Chang | Physcian Highest-paid employee | 40 | $1,108,885 | $0 | $67,886 |
| Dr Paul Kochupura | Physcian Highest-paid employee | 40 | $1,119,408 | $0 | $24,296 |
| Mr David O'Connor | EVP/CFO/Asst. Treasurer Officer | 1 | $0 | $956,025 | $184,000 |
| Dr Dustin Letts | Physcian Highest-paid employee | 40 | $1,026,424 | $0 | $67,985 |
| Dr Mark Thompson | Director Trustee or director | 40 | $812,184 | $0 | $58,494 |
| Ms Leigh Hickman | CLO/Asst. Sec. Officer | 1 | $0 | $564,906 | $110,160 |
| Dr Jay Hendler | Director Trustee or director | 40 | $500,289 | $0 | $58,372 |
| Dr Andrew Dyksterhouse | Director Trustee or director | 20 | $264,395 | $181,231 | $58,427 |
| Mr Bob Hovis | Director Trustee or director | 1 | $0 | $32,703 | $0 |
| Mr Frank Stewart | Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Ms Annette Carter | Director Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 14 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MR K CHRISTOPHER PEEK | CEO Officer | 1 | $0 | $1,558,081 | $286,732 |
| DR OMER SHEDD | PHYSICIAN Highest-paid employee | 40 | $1,037,985 | $0 | $62,537 |
| DR DUSTIN LETTS | PHYSICIAN Highest-paid employee | 40 | $1,053,039 | $0 | $35,537 |
| DR PAUL KOCHUPURA | PHYSICIAN Highest-paid employee | 40 | $1,061,591 | $0 | $23,238 |
| DR OH CHANG | PHYSICIAN Highest-paid employee | 40 | $1,005,196 | $0 | $62,438 |
| MR DAVID O'CONNOR | EVP/CFO/ASST. TREASURER Officer | 1 | $0 | $884,243 | $174,464 |
| DR GREGORY WOO | PHYSICIAN Highest-paid employee | 40 | $945,240 | $0 | $50,375 |
| DR MARK THOMPSON | DIRECTOR Trustee or director | 40 | $840,542 | $0 | $60,475 |
| MS LEIGH HICKMAN | CLO/ASST. SEC. Officer | 1 | $0 | $465,494 | $103,464 |
| DR JAY HENDLER | DIRECTOR Trustee or director | 40 | $492,906 | $0 | $26,481 |
| DR ANDREW DYKSTERHOUSE | DIRECTOR Trustee or director | 20 | $306,763 | $140,539 | $53,428 |
| MR BOB HOVIS | DIRECTOR Trustee or director | 1 | $0 | $30,589 | $0 |
| MR FRANK STEWART | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MR JAKE GRAY III | DIRECTOR THROUGH 3/2023 Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2525 COURT DR, GASTONIA, NC 28054-2140
- Principal officer (990 for 2023)
- David O'Connor, 2525 Court Drive PO Box 1747, Gastonia, NC 280531747
- Signed the 990
- David O'Connor, EVP, CFO
- Phone
- (704) 834-2000
- Return prepared by
- Forvis Mazars LLP
Mission
TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE.
Program accomplishments
- 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.Expenses $198,420,907 · revenue $165,278,902
What it must file and when
IRS records say it files Not required (state instrumentality). Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | Not on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1479712
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1986
- Accounting year ends
- June
- Files
- Not required (state instrumentality)
- Category (NTEE)
- Health care (E11)
- Assets (IRS master file)
- $82,782,092
- Income (IRS master file)
- $165,757,028
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2024 | $165,685,869 | $208,769,136 | $82,782,092 | XML |
| 990 | June 2023 | $155,331,576 | $192,179,329 | $71,862,686 | XML |
| 990 | June 2022 | $144,361,376 | $175,319,689 | $65,416,046 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1479712).
Questions about CAROMONT MEDICAL GROUP INC
- What is the EIN of CAROMONT MEDICAL GROUP INC?
- The employer identification number (EIN) of CAROMONT MEDICAL GROUP INC is 56-1479712.
- Is CAROMONT MEDICAL GROUP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
- Are donations to CAROMONT MEDICAL GROUP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CAROMONT MEDICAL GROUP INC file?
- Form Not required (state instrumentality).
- When is the next return of CAROMONT MEDICAL GROUP INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CAROMONT MEDICAL GROUP INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2024.
- Who is the principal officer of CAROMONT MEDICAL GROUP INC?
- The 990 for the year ended June 30, 2024 names David O'Connor.
- Who are the officers and directors of CAROMONT MEDICAL GROUP INC?
- The 990 for the year ended June 30, 2024 lists 14 people; 8 received compensation from the organization.
- How much revenue does CAROMONT MEDICAL GROUP INC have?
- On its 990 for the year ended June 30, 2024 it reported revenue of $165,685,869, expenses of $208,769,136 and total assets of $82,782,092 at year end.
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