Civic Intelligence

Ballad Health Foundation

990 • Fiscal year 2017 • EIN 58-1594191

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 21, 2018

1905 American WayKingsport, TN 37660

(423) 230-8550

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

27th percentile

0.07x

Higher debt load relative to assets than 27% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

46th percentile

0.26x

Higher debt load relative to revenue than 46% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

91st percentile

48%

Higher net margin than 91% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

96th percentile

$1,295,425

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 16.0% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

76th percentile

13%

Faster asset growth than 76% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

86th percentile

43%

Faster revenue growth than 86% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$31,410,145

Up $3,689,888 (+13%) from 2016

Net Assets

Up

$29,266,087

Up $3,967,751 (+16%) from 2016

Liabilities

Down

$2,144,058

Down $277,863 (-11%) from 2016

Revenue

Up

$8,107,701

Up $2,441,045 (+43%) from 2016

Expenses

Down

$4,208,042

Down $2,232,908 (-35%) from 2016

Net Income

Up

$3,899,659

Up $4,673,953 (+604%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $25,572,298Liabilities 2010: $5,662,277Net Assets 2010: $19,910,0212010Assets 2011: $28,785,276Liabilities 2011: $6,911,805Net Assets 2011: $21,873,4712011Assets 2012: $32,520,821Liabilities 2012: $9,254,761Net Assets 2012: $23,266,0602012Assets 2013: $32,088,610Liabilities 2013: $6,764,472Net Assets 2013: $25,324,1382013Assets 2014: $33,920,458Liabilities 2014: $4,498,918Net Assets 2014: $29,421,5402014Assets 2015: $29,482,623Liabilities 2015: $2,693,342Net Assets 2015: $26,789,2812015Assets 2016: $27,720,257Liabilities 2016: $2,421,921Net Assets 2016: $25,298,3362016Assets 2017: $31,410,145Liabilities 2017: $2,144,058Net Assets 2017: $29,266,0872017Assets 2018: $31,333,903Liabilities 2018: $2,768,476Net Assets 2018: $28,565,4272018Assets 2019: $51,428,843Liabilities 2019: $5,995,237Net Assets 2019: $45,433,6062019Assets 2020: $51,336,210Liabilities 2020: $5,574,142Net Assets 2020: $45,762,0682020Assets 2021: $60,338,294Liabilities 2021: $5,253,051Net Assets 2021: $55,085,2432021Assets 2022: $62,092,613Liabilities 2022: $8,673,935Net Assets 2022: $53,418,6782022Assets 2023: $67,442,232Liabilities 2023: $22,739,416Net Assets 2023: $44,702,8162023Assets 2024: $71,461,063Liabilities 2024: $20,541,768Net Assets 2024: $50,919,2952024Assets 2025: $64,955,620Liabilities 2025: $7,004,606Net Assets 2025: $57,951,0142025

Highlighted filing

2017

Assets$31,410,145
Liabilities$2,144,058
Net Assets$29,266,087

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10M-$20MExpenses 2010: $3,137,9842010Revenue 2011: $3,414,871Expenses 2011: $4,546,475Net Income 2011: -$1,131,6042011Expenses 2012: $5,523,9112012Expenses 2013: $2,845,4222013Revenue 2014: $5,668,639Expenses 2014: $2,417,784Net Income 2014: $3,250,8552014Revenue 2015: $3,967,817Expenses 2015: $4,614,124Net Income 2015: -$646,3072015Revenue 2016: $5,666,656Expenses 2016: $6,440,950Net Income 2016: -$774,2942016Revenue 2017: $8,107,701Expenses 2017: $4,208,042Net Income 2017: $3,899,6592017Revenue 2018: $3,808,742Expenses 2018: $4,988,733Net Income 2018: -$1,179,9912018Revenue 2019: $5,164,736Expenses 2019: $7,558,793Net Income 2019: -$2,394,0572019Revenue 2020: $5,621,142Expenses 2020: $4,969,964Net Income 2020: $651,1782020Revenue 2021: $4,593,678Expenses 2021: $2,795,070Net Income 2021: $1,798,6082021Revenue 2022: $13,795,215Expenses 2022: $6,462,250Net Income 2022: $7,332,9652022Revenue 2023: $7,726,360Expenses 2023: $18,711,967Net Income 2023: -$10,985,6072023Revenue 2024: $7,890,797Expenses 2024: $4,059,826Net Income 2024: $3,830,9712024Revenue 2025: $11,053,890Expenses 2025: $7,314,051Net Income 2025: $3,739,8392025

Highlighted filing

2017

Revenue$8,107,701
Expenses$4,208,042
Net Income$3,899,659
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 21, 2018
Return Version
2016v3.1
Gross Receipts
$9,900,197
Mission and Program Overview

Mission

Ballad health foundation's primary purpose is to build relationships with others to fulfill the mission and vision of ballad health through philanthropy. Working together around a common set of objectives, we can transform our community's health and well-being.

Wellmont foundation, inc. Operates for charitable and educational purposes to support and encourage health care services provided by wellmont health system through community involvement and philanthropic support.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$24,422,948$26,525,840▲ $2,102,892
Pledges and Grants Receivable$2,471,669$2,643,667▲ $171,998
Cash and Non-Interest-Bearing Accounts$1,113,444$2,094,579▲ $981,135
Savings and Temporary Cash Investments$344,108--
Accounts Receivable-$99,087-
Land, Buildings, and Equipment, Net$29,554$24,926▼ $4,628
Prepaid Expenses and Deferred Charges$22,500$22,500→ $0
Total Assets$27,720,257$31,410,145▲ $3,689,888
Other Assets Total$-683,966$-454▲ $683,512
Liabilities
Other Liabilities$2,323,153$2,064,409▼ $258,744
Accounts Payable and Accrued Expenses$98,768$79,649▼ $19,119
Total Liabilities$2,421,921$2,144,058▼ $277,863
Net Assets / Fund Balance
Unrestricted Net Assets$17,654,409$20,457,357▲ $2,802,948
Temporarily Rstr Net Assets$6,323,043$7,488,707▲ $1,165,664
Permanently Rstr Net Assets$1,320,884$1,320,023▼ $861
Total Net Assets Fund Balance$25,298,336$29,266,087▲ $3,967,751
Total Liabilities and Net Assets / Fund Balance$27,720,257$31,410,145▲ $3,689,888

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,213$150,396$161,609
Other Land Buildings-$33,770$33,770
Land$13,465-$13,465
Leasehold Improvements$248$897$1,145

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,320,884-▼ $861-$1,320,023
2015$1,322,831-▼ $1,947-$1,320,884
2014$1,319,254-▲ $3,577-$1,322,831
2013$1,311,437-▲ $7,817-$1,319,254
2012$1,304,403-▲ $7,034-$1,311,437
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Barton a HoveBoard Member-$1,295,425$1,295,425
Barton a HoveBoard Member/whs CEO$218,259$114,007$332,266

Board Members and Trustees

NameTitle
Ted R FieldsChairman
Lowell Todd NorrisPresident
Norris SneedVice-chair
Harrison Turner MdBoard Memb/p
Darla ScottBoard Member
David Oakley JrBoard Member
EMILY O'QUINNBoard Member
Ed RoopBoard Member
Jerry CaldwellBoard Member
Jessica ParrottBoard Member
John WilliamsBoard Member
Jon TunnellBoard Member
Kay BunnBoard Member
Kristen ReedyBoard Member
Ladonna StreetBoard Member
Laurence LaguardiaBoard Member
Mary Margaret DentonBoard Member
Mary ShraderBoard Member
Robert L Blevins JrBoard Member
Scott Coen MdBoard Member
Steve HarvilleBoard Member
Terry BegleyBoard Member
Vann AvirettBoard Member
William Burriss IiiBoard Member
David WagnerImmediate Pa
Michael BerrySecretary
Gary PoeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,775,347
Program Service Revenue
$0
Investment Income
$2,431,828
Other Revenue
$-99,474
All Other Contributions
$3,777,014
Change in Net Assets
$3,899,659

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$841,785Fair Market Value (FMV)
Total Noncash Contributions1$841,785-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,991,407
Total Fundraising Expense$790,035
Salaries, Compensation, and Employee Benefits$719,473
Other Expenses$407,998
Professional Fundraising Fees$89,164

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,784,185--$2,784,185
Current Officers, Directors, Trustees, and Key Employees-$218,972$302,732$521,704
Grants to Domestic Individuals$207,222--$207,222
Other Salaries and Wages-$46,067$101,071$147,138
Fees for Services Professional Fundraising--$89,164$89,164
Office Expenses-$19,718$36,301$56,019
Other Employee Benefits-$11,954$22,290$34,244
Fees for Service Investment Mgmnt Fees-$25,388-$25,388
Occupancy-$24,937-$24,937
Fees for Services Other-$5,348$11,931$17,279
Information Technology-$16,755-$16,755
Payroll Taxes-$3,681$8,185$11,866
Travel-$8,633$2,421$11,054
Fees for Services Accounting-$7,300-$7,300
Depreciation Depletion-$4,628-$4,628
Pension Plan Contributions-$1,882$2,639$4,521
Conferences and Meetings-$1,790$2,693$4,483
Insurance-$1,393$314$1,707
Other Expenses-$560$1,035$1,595
Total Functional Expenses$2,991,407$426,600$790,035$4,208,042
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wellmont Health SystemKingsport, TN501c3General Support$2,058,466
Wellmont Health SystemKingsport, TN501c3Equipment$256,732
Gap PartnershipBig Stone Gap, VA501c3General Support$200,000
Wellmont Health SystemKingsport, TN501c3Education$85,328
United Way of Bristol IncBristol, TN501c3Employee Donations$51,142
United Way of Greater Kingsport inKingsport, TN501c3Employee Donations$44,103
Project Fit AmericaBoys Hot Springs, CA501c3Fitness Equipment$22,292
Wellmont Hawkins Co Mem HospitalKingsport, TN501c3General Support$10,639
United Way of Southwest Virginia IGate City, VA501c3Employee Donations$10,504
East Tennessee FoundationKnoxville, TN501c3Employee Donations$10,283
Gatlinburg Relief FundPigeon Forge, TN501c3Employee Donations$10,283
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$177,551
Professional Fundraising Fees$89,164
Fundraising Gross Income$74,580

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Childrens Mirac$748,977$60,971$67,465$-6,494
Wine Women & Sh$155,897$10,693$11,215$-522
Total Events$921,408$74,580$177,551$-102,971
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$1,872,245
Annuity Payment Liability$192,164
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The business and affairs of wellmont foundation, inc. (the corporation) shall be governed exclusively by the board of governors. The corporation's board of governors is designated by wellmont health system, the sole member of the corporation. In addition to such rights of approval and consent as may be reserved to the sole member of the corporation pursuant to applicable law, transactions of the following matters by the corporation shall require the prior approval of wellmont health system, the sole member of the corporation: (a) implementation of corporation's annual budget, (b) incurring any loan or other indebtedness for borrowed money, (c) acquisition of any equipment or personal property for a purchase price in excess of 50,000 or the acquisition of any real estate, regardless of purchase price, (d) the undertaking of certain contractual (e) entering into any plan of merger or consolidation, (f) acquisition of substantially all of the assets of any other legal entity, and (g) institution of any litigation by or on behalf of corporation.

Form 990, Page 6, Part VI, Line 7A

See form 990, part vi, section a, line 6 for explanation.

Form 990, Page 6, Part VI, Line 7B

See form 990, part vi, section a, line 6 for explanation.

Form 990, Page 6, Part VI, Line 9

BARTON A. HOVE

Form 990, Page 6, Part VI, Line 11B

Wellmont foundation's form 990 is reviewed by the chief financial officer, the corporate controller, and the manager of accounting for wellmont health system, the foundation executive director and the board of governors of wellmont foundation,inc., prior to filing. Any questions or comments arising from the initial review are addressed to ensure the return is complete and accurate. Any changes or corrections are made, and the return is then provided to the above individuals and the board of governors of wellmont foundation, inc. Prior to filing with the internal revenue service.

Form 990, Page 6, Part VI, Line 12C

Officers, directors and key employees are required to sign a conflict of interest policy acknowledgement. Any potential conflicts are discussed with the compliance and audit services department, as they arise. Wellmont foundation, inc.'s officers, directors and key employees are governed by wellmont health system's conflict of interest policy. Wellmont health system also has a policy on business practices that discusses conflict of interest and informs the workforce to disclose any issues to the compliance and audit services department, for resolution. Wellmont health system also uses a hotline that allows anonymous reporting of possible conflict of interest situations for investigation by the compliance and audit services department.

Form 990, Page 6, Part VI, Line 15A

The compensation of barton a. Hove, the president and ceo of wellmont health system, is reviewed, approved and documented by the wellmont health system human resources committee and the board of directors. Barton a. Hove is also on the board of directors of wellmont foundation, inc. The last compensation deliberation and review process for barton a. Hove was completed and approved by the board of directors of wellmont health system on november 07, 2017. On october 26, 2017, the wellmont health system human resources committee of the board of directors met to review salary data and the market analysis as it does on an annual basis. This committee reviews the salary data for each executive-level position reporting to the president and ceo of wellmont health system. The compensation of l. Todd norris, the executive director of wellmont foundation, inc. Was reviewed, approved and documented by this committee. In addition, these bodies use comparability data to determine the appropriate compensation. All compensation deliberations and reviews are contemporaneously documented.

Form 990, Page 6, Part VI, Line 19

Wellmont foundation, inc.'s governing documents and conflict of interest policy are not available to the public. Wellmont health system's audited financial statements and quarterly unaudited financial statements are available through the electronic municipal market access website.

Filing and Contact Details

Filer

Filer Name
Wellmont Foundation Inc
EIN
58-1594191
Phone
4232308550
Address
1905 AMERICAN WAY, KINGSPORT, TN 37660

Signing Officer

Name
Todd J Dougan
Title
CFO
Phone
4232308200
Signed
2018-03-21

Organization Details

Principal Officer
Lowell Todd Norris
Formed
1984
Legal Domicile
Tn
Voting Board Members
27
Independent Board Members
26
Employees
7
Volunteers
134
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Wellmont foundation, inc.'s 134 volunteers worked approximately 731 hours for the year ended june 30, 2017.

Form 990, Page 2, Part III, Line 4A

The fiscal year ended with 5.4 million in contributions from 3,916 community partners and foundation associates. We gave back 2.6 million to our hospitals through facility improvements, educational efforts and grassroots causes. Several projects carried over from fiscal 2016, and some will carry over into fiscal 2018, where the remainder of contributions will be distributed. Through our work with children's miracle network hospitals, 826,808 was raised to provide facilities improvements, equipment and program enhancements to our centers for infants and children, neonatal and pediatric intensive care units and emergency care. Our medical facility improvements include continuation of the nicu relocation/renovation/expansion and renovation of the women's & infants center at holston valley medical center, renovation of wellmont hospice house, completion of the deborah h. Quillen birthing center at bristol regional medical center and equipment purchases for cancer, children's care, blood center, telemedicine and heart services. Grant funding from centers for medicare & medicaid services supported certified health insurance navigators to help individuals and businesses obtain insurance coverage through the health insurance marketplace and small business health options marketplace, as well as to enroll qualified children into the children's health insurance program.

Form 990, Part XI, Line 9

Increase in cash surrender value endowment ins 17,434 unrealized gain/(loss) on marketable securities 50,658 total 68,092

Financial Statement Notes

Schedule D, Page 4, Part XIII

The endowment funds held by wellmont foundation, inc. Have been restricted by the donors. Based on the current restrictions, the funds are to be used for "any project in the fight against cancer", hospice and various scholarships for wellmont madison house programs.

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IRS990/Desc0THE MISSION OF THE WELLMONT FOUNDATION, INC. IS TO SUPPORT THE MISSION, VISION AND VALUES OF WELLMONT HEALTH SYSTEM THROUGH THE USE OF COMMUNITY INVOLVEMENT AND PHILANTHROPIC SUPPORT. FOR THE FISCAL YEAR ENDED JUNE 30, 2017, WELLMONT FOUNDATION, INC. CONTINUED ITS CORE FUNDRAISING MISSION TO FOCUS ON FUNDS THAT SUPPORT RESEARCH, EDUCATION AND INNOVATION FOR HEART CARE, CANCER CARE, CHILDREN'S HEALTH AND HOSPITAL ADVANCEMENT. THIS STRATEGIC FOCUS ALLOWS US TO WORK REGIONALLY TO COMBAT THE LEADING CAUSES OF SUFFERING AND DEATH AND TO SUPPORT WELLMONT HEALTH SYSTEM'S WORK TO CONTINUALLY IMPROVE THE PATIENT AND FAMILY EXPERIENCE. (CONTINUED ON SCHEDULE O) THE FISCAL YEAR ENDED WITH 5.4 MILLION IN CONTRIBUTIONS FROM 3,916 COMMUNITY PARTNERS AND FOUNDATION ASSOCIATES. WE GAVE BACK 2.6 MILLION TO OUR HOSPITALS THROUGH FACILITY IMPROVEMENTS, EDUCATIONAL EFFORTS AND GRASSROOTS CAUSES. SEVERAL PROJECTS CARRIED OVER FROM FISCAL 2016, AND SOME WILL CARRY OVER INTO FISCAL 2018, WHERE THE REMAINDER OF CONTRIBUTIONS WILL BE DISTRIBUTED. THROUGH OUR WORK WITH CHILDREN'S MIRACLE NETWORK HOSPITALS, 826,808 WAS RAISED TO PROVIDE FACILITIES IMPROVEMENTS, EQUIPMENT AND PROGRAM ENHANCEMENTS TO OUR CENTERS FOR INFANTS AND CHILDREN, NEONATAL AND PEDIATRIC INTENSIVE CARE UNITS AND EMERGENCY CARE. OUR MEDICAL FACILITY IMPROVEMENTS INCLUDE CONTINUATION OF THE NICU RELOCATION/RENOVATION/EXPANSION AND RENOVATION OF THE WOMEN'S & INFANTS CENTER AT HOLSTON VALLEY MEDICAL CENTER, RENOVATION OF WELLMONT HOSPICE HOUSE, COMPLETION OF THE DEBORAH H. QUILLEN BIRTHING CENTER AT BRISTOL REGIONAL MEDICAL CENTER AND EQUIPMENT PURCHASES FOR CANCER, CHILDREN'S CARE, BLOOD CENTER, TELEMEDICINE AND HEART SERVICES. GRANT FUNDING FROM CENTERS FOR MEDICARE & MEDICAID SERVICES SUPPORTED CERTIFIED HEALTH INSURANCE NAVIGATORS TO HELP INDIVIDUALS AND BUSINESSES OBTAIN INSURANCE COVERAGE THROUGH THE HEALTH INSURANCE MARKETPLACE AND SMALL BUSINESS HEALTH OPTIONS MARKETPLACE, AS WELL AS TO ENROLL QUALIFIED CHILDREN INTO THE CHILDREN'S HEALTH INSURANCE PROGRAM.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$65.0$7.00$58.0$11.1$7.31$3.74
2024Detailed filing. Detailed filing data is available for this year.$71.5$20.5$50.9$7.89$4.06$3.83
2023Detailed filing. Detailed filing data is available for this year.$67.4$22.7$44.7$7.73$18.7$11.0
2022Detailed filing. Detailed filing data is available for this year.$62.1$8.67$53.4$13.8$6.46$7.33
2021Detailed filing. Detailed filing data is available for this year.$60.3$5.25$55.1$4.59$2.80$1.80
2020Detailed filing. Detailed filing data is available for this year.$51.3$5.57$45.8$5.62$4.97$0.65
2019Summary only. Only limited summary data is available for this year.$51.4$6.00$45.4$5.16$7.56$2.39
2018Detailed filing. Detailed filing data is available for this year.$31.3$2.77$28.6$3.81$4.99$1.18
2017Detailed filing. Detailed filing data is available for this year.$31.4$2.14$29.3$8.11$4.21$3.90
2016Detailed filing. Detailed filing data is available for this year.$27.7$2.42$25.3$5.67$6.44$0.77
2015Detailed filing. Detailed filing data is available for this year.$29.5$2.69$26.8$3.97$4.61$0.65
2014Detailed filing. Detailed filing data is available for this year.$33.9$4.50$29.4$5.67$2.42$3.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.1$6.76$25.3$2.85
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.5$9.25$23.3$5.52
2011Summary only. Only limited summary data is available for this year.$28.8$6.91$21.9$3.41$4.55$1.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.6$5.66$19.9$3.14