Randolph Specialty Group Practice FY2020 filing

Asheboro, NCUnknown exempt organizationSince 2007EIN 11-3827203Revenue $20.7M in FY2020

On file with the IRSrandolphhealth.org218c Foust St · Asheboro, NC

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The mission of Randolph Specialty Group is to provide access to medical services.

98¢ of each $1 spent went to programs.
$3.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $2.9M a year · 15% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.7M
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$26.2M
714% of total assets
Concern: liabilities are 714% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 10 voting members
Worth a look: 3 of 10 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$20.7M
Spent
$23.7M
To programs
98%
Net assets
−$22.6M
By yearFY2020–FY2021
Revenue
$20.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$20.7M
FY2021$17.4M
Expenses
$23.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$23.7M
FY2021$20.2M
Net assets
−$22.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$22.6M
FY2021$0

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $23.2M Management & general 2% · $514K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990; $3.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Physician/Board Director
$667,578Pt VII · Sec A
$549,418Pt VII · Sec A
Physician/Board Director
$412,640Pt VII · Sec A
$374,512Pt VII · Sec A
Physician
$345,819Pt VII · Sec A
$312,379Pt VII · Sec A
Physician/Board Director
$286,561Pt VII · Sec A
Physician/Board Director
$264,339Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2021FY2020
Dr Jeffrey Yaste—$667,578
Dr Shakeel Durrani$640,143—
Shakeel F Durrani—$549,418
Dr Brandon Ma$418,296—
Dr Keung Lee—$412,640
Stephen Campbell—$374,512
SR Stephen Campbell$349,248—
Brandon Ma—$345,819

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides access to medical services for those in need.

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Provided by the organization

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1 program · $23.2M · in their own filed words · FY2019
01

Randolph specialty group practice was formed to promote, improve and enhance the quality of health care services in randolph county, NC and surrounding counties by providing physicians and other medical services to the community.

$23.2Mprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$20.7M
Ln 12
Fees for servicesLn 2g$20.3M
Other incomeLn 4–11$382K
Money outPt IX
$23.7M
Ln 25
Programscol B$23.2M
Managementcol C$514K
Owns and owesPt X
−$22.6M
net assets · Ln 32
Cash and savingsLn 1–2$597K
Total assetsLn 16$3.7M
LiabilitiesLn 26$26.2M
PeoplePt VI, VII
15
listed · VII A
PaidVII A10
Voting boardVI 1a10
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$20.3M
Other incomeLn 4–11$382K
Total revenueLn 12$20.7M
Assets in detailPt X, end of year
CashLn 1$597K
Cash and savings togetherLn 1–2$597K
Land, buildings, equipmentLn 10c$638K
Other assetsLn 15$55K
Total assetsLn 16$3.7M
LiabilitiesLn 26$26.2M
Net assetsLn 32−$22.6M
OperationsPt I, VI
EmployeesI 5243
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$218K$597K
Land, buildings, equipmentLn 10c$812K$638K
Total assetsLn 16$3.4M$3.7M
LiabilitiesLn 26$23.0M$26.2M
Net assetsLn 32−$19.5M−$22.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$13.5M$13.0M$480K
Other employee benefitsLn 9$1.4M$1.4M$1K
Payroll taxesLn 10$803K$802K$803
Accounting feesLn 11c$17K$17K
Advertising and promotionLn 12$32K$32K
Office expensesLn 13$794K$794K
Information technologyLn 14$205K$205K
RoyaltiesLn 15$2.0M$2.0M
OccupancyLn 16$40K$40K
InterestLn 20$1$1
Depreciation, depletion and amortizationLn 22$204K$204K
InsuranceLn 23$104K$104K
Other expenses (24a–d)Ln 24$4.6M$4.6M$14K
Total functional expensesLn 25$23.7M$23.2M$514K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $17.4M$20.2M−$2.8M$0 990 PDF
FY2020 Viewing $20.7M$23.7M−$3.0M−$22.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $20,702,907 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $20,992,252$20,321,280
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $104,000$381,627
I-12 Total revenuePrior year $21,096,252$20,702,907
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $16,304,337$15,701,255
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,051,208$8,033,131
I-18 Total expensesPrior year $24,355,545$23,734,386
I-19 Revenue less expensesPrior year −$3,259,293−$3,031,479
Part VI · Governance 3 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $20,702,907 across 3 lines filed
Lines not itemized here account for $13,992 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,307,288$20,307,288
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $381,627$381,627
VIII-12 Total revenueRelated to mission $20,321,280 · Unrelated business $0 · Excluded from tax $381,627$20,702,907
Part IX · Statement of functional expenses $23,734,386 across 13 lines filed
IX-7 Other salaries and wagesPrograms $12,973,381 · Management $480,130$13,453,511
IX-9 Other employee benefitsPrograms $1,443,262 · Management $1,445$1,444,707
IX-10 Payroll taxesPrograms $802,234 · Management $803$803,037
IX-11c Accounting feesManagement $17,491$17,491
IX-12 Advertising and promotionPrograms $31,760$31,760
IX-13 Office expensesPrograms $794,448$794,448
IX-14 Information technologyPrograms $205,269$205,269
IX-15 RoyaltiesPrograms $1,993,084$1,993,084
IX-16 OccupancyPrograms $39,785$39,785
IX-20 InterestPrograms $1$1
IX-22 Depreciation, depletion and amortizationPrograms $204,411$204,411
IX-23 InsurancePrograms $104,370$104,370
IX-24 Other expenses (24a–d)Programs $4,628,624 · Management $13,888$4,642,512
IX-25 Total functional expensesPrograms $23,220,629 · Management $513,757 · Fundraising $0$23,734,386
Part X · Balance sheet $3,673,247 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $218,383$596,567
X-4 Accounts receivableStart of year $1,218,014$1,096,372
X-8 Inventories for sale or useStart of year $356,060$386,677
X-9 Prepaid expenses and deferred chargesStart of year $71,775$222,110
X-10c Land, buildings and equipment, netStart of year $812,337$638,047
X-14 Intangible assetsStart of year $678,780$678,780
X-15 Other assetsStart of year $66,471$54,694
X-16 Total assetsStart of year $3,421,820$3,673,247
X-17 Accounts payable and accrued expensesStart of year $1,573,714$2,033,437
X-25 Other liabilitiesStart of year $21,384,044$24,207,227
X-26 Total liabilitiesStart of year $22,957,758$26,240,664
X-27 Net assets without donor restrictionsStart of year −$19,535,938−$22,567,417
X-32 Total net assets or fund balancesStart of year −$19,535,938−$22,567,417
X-33 Total liabilities and net assetsStart of year $3,421,820$3,673,247
Part XI · Reconciliation of net assets −$22,567,417 net assets at year end
XI-1 Total revenue$20,702,907
XI-2 Total expenses$23,734,386
XI-3 Revenue less expenses−$3,031,479
XI-4 Net assets at start of year−$19,535,938
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$22,567,417

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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