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Carilion Services INC FY2023 filing

Tax-deductible

Roanoke, VA501(c)(3)Since 1982Hospitals EIN 54-1190879Revenue $382.6M in FY2023

On file with the IRScarilionclinic.orgPo Box 12385, 24025-2385 · Roanoke, VATax-exempt since May 1982Supporting organization — 509(a)(3)

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Our mission is to improve the health of the communities we serve through our commitment to a common purpose of better patient care, better community health, and lower cost.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$12.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $4.8M a year · 1% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$12.4M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Plus $1.01B in investments, Pt X · Ln 11–13
Fine: 0.6 months of spending in cash, plus $1.01B in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $19K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$156.9M
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$382.6M
+0.8% vs prior year
Spent
$376.0M
To programs
94%
Net assets
$974.1M
By yearFY2020–FY2025
Revenue
$382.6M
FY2023▲ +0.8%
Tap a bar for its year
Revenue by fiscal year
FY2020$302.1M
FY2021$339.4M
FY2022$379.7M
FY2023$382.6M
FY2024$427.1M
FY2025$514.3M
Expenses
$376.0M
FY2023-0.3%
Tap a bar for its year
Expenses by fiscal year
FY2020$320.1M
FY2021$334.1M
FY2022$377.1M
FY2023$376.0M
FY2024$412.1M
FY2025$497.1M
Net assets
$974.1M
FY2023▲ +18%
Tap a bar for its year
Net assets by fiscal year
FY2020$667.5M
FY2021$709.7M
FY2022$824.8M
FY2023$974.1M
FY2024$1.0B
FY2025$1.1B

From the FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1982.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $351.7M Management & general 6% · $24.4M

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; $12.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$2,390,863Pt VII · Sec A
Nancy Howell Agee
Director/President/CEO, Carilion Clinic
$2,186,283Pt VII · Sec A
$1,651,534Pt VII · Sec A
Steven Arner
COO, Carilion Clinic
$1,120,207Pt VII · Sec A
Donald Halliwill
Director/Asst. Treasurer
$988,973Pt VII · Sec A
$817,822Pt VII · Sec A
R Keith Perry
Senior Vice President/CIO
$513,498Pt VII · Sec A
Fred Greear
Vice President / CIO
$490,459Pt VII · Sec A

Nancy Howell Agee’s $2.6M as CEO Emeritus, Carilion Clinic is at the 90th percentile of top reported officer pay among 1747 $100M+ health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Nancy Howell Agee$2,565,963$3,830,705$2,186,283$2,498,861$1,947,087$2,254,723
Patrice Weiss MD——$2,390,863$1,048,229$747,665$817,383
Steven Arner$1,715,344$1,410,192$1,120,207$1,100,977$843,427$877,942
Jeanne Armentrout$1,224,529$1,093,617$1,651,534$1,014,076$817,853$788,396
Donald Halliwill$1,309,012$1,119,248$988,973$1,027,399$810,340$774,298
Nicholas Conte$1,218,022$1,023,717$817,822$799,125$578,993$709,682
R Tony Seupaul MD$926,859—————
Donna Littlepage$860,289$417,109—$423,295$335,075—

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Improves community health and patient care while lowering costs.

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1 program · $351.7M · in their own filed words · FY2022
01

See Schedule O.

$351.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Carilion Medical CenterFY2024$19K
Total grants receivedfrom 1 funder$19K
Grants paid · 1 grant · $16K · 2024–2024
Carilion Clinic FoundationVA · FY2024$15,730

By the numbers

The FY2023 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$382.6M
Ln 12
Fees for servicesLn 2g$377.3M
Investment incomeLn 3$3.5M
Other incomeLn 4–11$1.6M
Money outPt IX
$376.0M
Ln 25
Programscol B$351.7M
Managementcol C$24.4M
Owns and owesPt X
$974.1M
net assets · Ln 32
Cash and savingsLn 1–2$18.6M
Total assetsLn 16$1.1B
LiabilitiesLn 26$156.9M
PeoplePt VI, VII
15
listed · VII A
PaidVII A15
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$135K
Government grantsLn 1e$115K
Fees for servicesLn 2g$377.3M
Investment incomeLn 3$3.5M
Other incomeLn 4–11$1.6M
Gains on assetsLn 7−$1.1M
Total revenueLn 12$382.6M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$18.6M
Cash and savings togetherLn 1–2$18.6M
InvestmentsLn 11–13$1.01B
Land, buildings, equipmentLn 10c$39.4M
Other assetsLn 15$21.3M
Total assetsLn 16$1.1B
LiabilitiesLn 26$156.9M
Net assetsLn 32$974.1M
OperationsPt I, VI
EmployeesI 52,915
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 FY23End FY23
Cash and savingsLn 1–2$107.8M$18.6M
InvestmentsLn 11–13$786.0M$1.01B
Land, buildings, equipmentLn 10c$33.2M$39.4M
Total assetsLn 16$995.5M$1.13B
LiabilitiesLn 26$170.7M$156.9M
Net assetsLn 32$824.8M$974.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$9.5M$2.3M$7.2M
Pay of disqualified personsLn 6$320K$320K
Other salaries and wagesLn 7$167.9M$165.3M$2.5M
Pension plan contributionsLn 8$5.5M$5.4M$96K
Other employee benefitsLn 9$22.4M$20.8M$1.6M
Payroll taxesLn 10$12.1M$11.5M$636K
Management feesLn 11a$1.5M$1.5M
Legal feesLn 11b$903K$903K
Accounting feesLn 11c$899K$899K
Lobbying feesLn 11d$83K$83K
Investment management feesLn 11f$1.5M$1.5M
Other fees for servicesLn 11g$50.0M$49.3M$719K$0
Advertising and promotionLn 12$2.6M$2.6M$1K
Office expensesLn 13$7.8M$6.1M$1.7M
Information technologyLn 14$50.2M$50.2M
OccupancyLn 16$13.7M$13.3M$369K
TravelLn 17$820K$665K$155K
InterestLn 20$13K$13K
Depreciation, depletion and amortizationLn 22$13.0M$13.0M
InsuranceLn 23$3.2M$967K$2.2M
Other expenses (24a–d)Ln 24$8.6M$6.6M$2.0M
All other expensesLn 24e$3.5M$3.1M$406K$0
Total functional expensesLn 25$376.0M$351.7M$24.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $514.3M$497.1M$17.2M$1.1B 990 PDF
FY2024 $427.1M$412.1M$14.9M$1.0B 990 PDF
FY2023 Viewing $382.6M$376.0M$6.6M$974.1M 990 PDF
FY2022 $379.7M$377.1M$2.7M$824.8M 990 PDF
FY2021 $339.4M$334.1M$5.3M$709.7M 990 PDF
FY2020 $302.1M$320.1M−$18.0M$667.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $382,602,553 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $439,878$134,616
I-9 Program service revenuePrior year $372,552,991$377,336,282
I-10 Investment incomePrior year $5,176,597$3,496,656
I-11 Other revenuePrior year $1,578,055$1,634,999
I-12 Total revenuePrior year $379,747,521$382,602,553
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $222,978,336$217,718,774
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $154,116,907$158,306,245
I-18 Total expensesPrior year $377,095,243$376,025,019
I-19 Revenue less expensesPrior year $2,652,278$6,577,534
Part VI · Governance 0 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
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 $382,602,553 across 8 lines filed
Lines not itemized here account for $298,204 of total revenue; see the IRS return.
VIII-1e Government grants$114,878
VIII-1f All other contributions, gifts and grants$19,738
VIII-1h Total contributions, gifts and grants$134,616
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $377,333,170$377,333,170
VIII-3 Investment incomeUnrelated business −$10,932 · Excluded from tax $4,599,514$4,588,582
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,091,926−$1,091,926
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,339,907$1,339,907
VIII-12 Total revenueRelated to mission $378,971,281 · Unrelated business −$10,932 · Excluded from tax $3,507,588$382,602,553
Part IX · Statement of functional expenses $376,025,019 across 22 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $2,327,944 · Management $7,158,572$9,486,516
IX-6 Pay of disqualified personsPrograms $320,009$320,009
IX-7 Other salaries and wagesPrograms $165,335,756 · Management $2,528,014$167,863,770
IX-8 Pension plan contributionsPrograms $5,438,894 · Management $95,527$5,534,421
IX-9 Other employee benefitsPrograms $20,808,184 · Management $1,563,179$22,371,363
IX-10 Payroll taxesPrograms $11,506,656 · Management $636,039$12,142,695
IX-11a Management feesManagement $1,524,479$1,524,479
IX-11b Legal feesManagement $902,757$902,757
IX-11c Accounting feesManagement $898,661$898,661
IX-11d Lobbying feesPrograms $83,193$83,193
IX-11f Investment management feesManagement $1,458,154$1,458,154
IX-11g Other fees for servicesPrograms $49,266,252 · Management $718,601 · Fundraising $0$49,984,853
IX-12 Advertising and promotionPrograms $2,556,210 · Management $1,048$2,557,258
IX-13 Office expensesPrograms $6,066,313 · Management $1,733,391$7,799,704
IX-14 Information technologyPrograms $50,243,435$50,243,435
IX-16 OccupancyPrograms $13,287,054 · Management $368,955$13,656,009
IX-17 TravelPrograms $665,336 · Management $154,675$820,011
IX-20 InterestPrograms $12,973$12,973
IX-22 Depreciation, depletion and amortizationPrograms $13,035,579$13,035,579
IX-23 InsurancePrograms $966,901 · Management $2,237,706$3,204,607
IX-24 Other expenses (24a–d)Programs $6,627,403 · Management $1,980,988$8,608,391
IX-24e All other expensesPrograms $3,109,770 · Management $406,411 · Fundraising $0$3,516,181
IX-25 Total functional expensesPrograms $351,657,862 · Management $24,367,157 · Fundraising $0$376,025,019
Part X · Balance sheet $1,131,010,157 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $3,420$2,070
X-2 Savings and temporary cash investmentsStart of year $107,757,420$18,585,409
X-4 Accounts receivableStart of year $2,315,467$4,621,907
X-8 Inventories for sale or useStart of year $7,583,989$5,048,110
X-9 Prepaid expenses and deferred chargesStart of year $22,047,961$27,184,588
X-10c Land, buildings and equipment, netStart of year $33,212,408$39,406,732
X-11 Publicly traded securitiesStart of year $109,833,728$140,011,528
X-12 Other securitiesStart of year $67,995,962$124,978,056
X-13 Program-related investmentsStart of year $608,170,024$749,883,901
X-15 Other assetsStart of year $36,597,085$21,287,856
X-16 Total assetsStart of year $995,517,464$1,131,010,157
X-17 Accounts payable and accrued expensesStart of year $108,292,180$87,721,360
X-18 Grants payableStart of year $91,000$69,091
X-19 Deferred revenueStart of year $763,992$641,164
X-25 Other liabilitiesStart of year $61,574,086$68,467,866
X-26 Total liabilitiesStart of year $170,721,258$156,899,481
X-27 Net assets without donor restrictionsStart of year $824,796,206$974,110,676
X-32 Total net assets or fund balancesStart of year $824,796,206$974,110,676
X-33 Total liabilities and net assetsStart of year $995,517,464$1,131,010,157
Part XI · Reconciliation of net assets $974,110,676 net assets at year end
XI-1 Total revenue$382,602,553
XI-2 Total expenses$376,025,019
XI-3 Revenue less expenses$6,577,534
XI-4 Net assets at start of year$824,796,206
XI-5 Net unrealized gains (losses) on investments$9,457,808
XI-9 Other changes in net assets$133,279,128
XI-10 Net assets at end of year$974,110,676

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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