Carilion Services INC FY2024 filing

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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.
93¢ of each $1 spent went to programs.
$13.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$13.2M
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
<1 mo
of spending, in cash
Plus $1.06B in investments, Pt X · Ln 11–13
Fine: 0.5 months of spending in cash, plus $1.06B 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
$198.3M
16% of total assets
Looks good: liabilities are 16% 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
$427.1M
+12% vs prior year
Spent
$412.1M
To programs
93%
Net assets
$1.0B
By yearFY2020–FY2025
Revenue
$427.1M
FY2024▲ +12%
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
$412.1M
FY2024▲ +10%
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
$1.0B
FY2024▲ +5%
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 FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

93 cents of each dollar spent went to programs.

Program services 93% · $383.5M Management & general 7% · $28.6M

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

17 people listed on the 990; $13.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Director/President/CEO, Carilion Clinic
$3,830,705Pt VII · Sec A
Vice President/COO, Carilion Clinic
$1,410,192Pt VII · Sec A
Director/Asst. Treasurer
$1,119,248Pt VII · Sec A
$1,093,617Pt VII · Sec A
$1,023,717Pt VII · Sec A
Senior Vice President/Cmio
$704,037Pt VII · Sec A
Senior Vice President/CIO
$595,777Pt VII · Sec A
Vice President
$572,943Pt 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.

See Carilion Services INC executive salaries →

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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Improves community health and patient care while lowering costs.

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1 program · $383.5M · in their own filed words · FY2023
01

See Schedule O.

$383.5Mprogram 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
Total grants receivedfrom 1 funder$19K
Grants paid · 1 grant · $16K · 2024–2024
Carilion Clinic FoundationVA · FY2024$15,730

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$427.1M
Ln 12
Fees for servicesLn 2g$409.2M
Investment incomeLn 3$15.4M
Other incomeLn 4–11$1.8M
Money outPt IX
$412.1M
Ln 25
Programscol B$383.5M
Managementcol C$28.6M
Owns and owesPt X
$1.0B
net assets · Ln 32
Cash and savingsLn 1–2$17.5M
Total assetsLn 16$1.2B
LiabilitiesLn 26$198.3M
PeoplePt VI, VII
17
listed · VII A
PaidVII A17
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$679K
Government grantsLn 1e$630K
Fees for servicesLn 2g$409.2M
Investment incomeLn 3$15.4M
Other incomeLn 4–11$1.8M
Gains on assetsLn 7$8.8M
Total revenueLn 12$427.1M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$17.5M
Cash and savings togetherLn 1–2$17.5M
InvestmentsLn 11–13$1.06B
Land, buildings, equipmentLn 10c$42.7M
Other assetsLn 15$55.0M
Total assetsLn 16$1.2B
LiabilitiesLn 26$198.3M
Net assetsLn 32$1.0B
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 FY24End FY24
Cash and savingsLn 1–2$18.6M$17.5M
InvestmentsLn 11–13$1.01B$1.06B
Land, buildings, equipmentLn 10c$39.4M$42.7M
Total assetsLn 16$1.13B$1.23B
LiabilitiesLn 26$156.9M$198.3M
Net assetsLn 32$974.1M$1.03B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$9.8M$2.4M$7.3M
Pay of disqualified personsLn 6$327K$327K
Other salaries and wagesLn 7$188.4M$186.8M$1.6M
Pension plan contributionsLn 8$6.5M$6.4M$55K
Other employee benefitsLn 9$21.8M$20.6M$1.3M
Payroll taxesLn 10$13.0M$12.5M$557K
Management feesLn 11a$279K$279K
Legal feesLn 11b$1.1M$1.1M
Accounting feesLn 11c$816K$816K
Lobbying feesLn 11d$83K$83K
Investment management feesLn 11f$1.5M$1.5M
Other fees for servicesLn 11g$54.5M$47.7M$6.8M$0
Advertising and promotionLn 12$2.4M$2.4M$5K
Office expensesLn 13$9.5M$7.6M$1.9M
Information technologyLn 14$60.4M$60.4M
OccupancyLn 16$13.8M$13.4M$383K
TravelLn 17$854K$756K$97K
InterestLn 20$13K$13K
Depreciation, depletion and amortizationLn 22$11.3M$11.3M
InsuranceLn 23$3.1M$1.1M$1.9M
Other expenses (24a–d)Ln 24$9.4M$7.7M$1.7M
All other expensesLn 24e$3.4M$2.1M$1.3M$0
Total functional expensesLn 25$412.1M$383.5M$28.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Aug 17, 2026 $514.3M$497.1M$17.2M$1.1B 990 PDF
FY2024 ViewingFiled with the IRS Aug 15, 2025 $427.1M$412.1M$14.9M$1.0B 990 PDF
FY2023Filed with the IRS Aug 15, 2024 $382.6M$376.0M$6.6M$974.1M 990 PDF
FY2022Filed with the IRS Aug 15, 2023 $379.7M$377.1M$2.7M$824.8M 990 PDF
FY2021Filed with the IRS Aug 15, 2022 $339.4M$334.1M$5.3M$709.7M 990 PDF
FY2020Filed with the IRS Aug 16, 2021 $302.1M$320.1M−$18.0M$667.5M 990 PDF

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 FY2024 990 (6 parts)
Part I · Summary $427,070,951 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $134,616$679,330
I-9 Program service revenuePrior year $377,336,282$409,171,271
I-10 Investment incomePrior year $3,496,656$15,420,372
I-11 Other revenuePrior year $1,634,999$1,799,978
I-12 Total revenuePrior year $382,602,553$427,070,951
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $217,718,774$239,815,133
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $158,306,245$172,326,545
I-18 Total expensesPrior year $376,025,019$412,141,678
I-19 Revenue less expensesPrior year $6,577,534$14,929,273
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 $427,070,951 across 9 lines filed
Lines not itemized here account for $183,657 of total revenue; see the IRS return.
VIII-1d Related organizations$10,485
VIII-1e Government grants$629,902
VIII-1f All other contributions, gifts and grants$38,943
VIII-1h Total contributions, gifts and grants$679,330
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $409,166,462$409,166,462
VIII-3 Investment incomeUnrelated business −$20,095 · Excluded from tax $6,687,275$6,667,180
VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,753,192$8,753,192
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,621,130$1,621,130
VIII-12 Total revenueRelated to mission $410,971,249 · Unrelated business −$20,095 · Excluded from tax $15,440,467$427,070,951
Part IX · Statement of functional expenses $412,141,678 across 22 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $2,423,922 · Management $7,341,401$9,765,323
IX-6 Pay of disqualified personsPrograms $326,890$326,890
IX-7 Other salaries and wagesPrograms $186,803,569 · Management $1,585,700$188,389,269
IX-8 Pension plan contributionsPrograms $6,434,534 · Management $55,149$6,489,683
IX-9 Other employee benefitsPrograms $20,550,398 · Management $1,271,759$21,822,157
IX-10 Payroll taxesPrograms $12,464,861 · Management $556,950$13,021,811
IX-11a Management feesManagement $279,311$279,311
IX-11b Legal feesManagement $1,094,420$1,094,420
IX-11c Accounting feesManagement $816,445$816,445
IX-11d Lobbying feesPrograms $83,079$83,079
IX-11f Investment management feesManagement $1,511,799$1,511,799
IX-11g Other fees for servicesPrograms $47,702,828 · Management $6,762,801 · Fundraising $0$54,465,629
IX-12 Advertising and promotionPrograms $2,375,768 · Management $5,122$2,380,890
IX-13 Office expensesPrograms $7,570,336 · Management $1,924,522$9,494,858
IX-14 Information technologyPrograms $60,358,322$60,358,322
IX-16 OccupancyPrograms $13,409,370 · Management $383,409$13,792,779
IX-17 TravelPrograms $756,324 · Management $97,367$853,691
IX-20 InterestPrograms $12,867$12,867
IX-22 Depreciation, depletion and amortizationPrograms $11,321,793$11,321,793
IX-23 InsurancePrograms $1,112,924 · Management $1,948,425$3,061,349
IX-24 Other expenses (24a–d)Programs $7,696,304 · Management $1,668,701$9,365,005
IX-24e All other expensesPrograms $2,098,730 · Management $1,335,578 · Fundraising $0$3,434,308
IX-25 Total functional expensesPrograms $383,502,819 · Management $28,638,859 · Fundraising $0$412,141,678
Part X · Balance sheet $1,225,982,731 assets, 19 lines filed
Asset lines not itemized here account for $28,167; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,070$1,770
X-2 Savings and temporary cash investmentsStart of year $18,585,409$17,490,947
X-4 Accounts receivableStart of year $4,621,907$11,442,715
X-8 Inventories for sale or useStart of year $5,048,110$6,086,991
X-9 Prepaid expenses and deferred chargesStart of year $27,184,588$28,829,373
X-10c Land, buildings and equipment, netStart of year $39,406,732$42,711,738
X-11 Publicly traded securitiesStart of year $140,011,528$154,901,332
X-12 Other securitiesStart of year $124,978,056$108,030,679
X-13 Program-related investmentsStart of year $749,883,901$801,469,242
X-15 Other assetsStart of year $21,287,856$54,989,777
X-16 Total assetsStart of year $1,131,010,157$1,225,982,731
X-17 Accounts payable and accrued expensesStart of year $87,721,360$104,061,404
X-18 Grants payableStart of year $69,091$138,875
X-19 Deferred revenueStart of year $641,164$974,812
X-25 Other liabilitiesStart of year $68,467,866$93,122,716
X-26 Total liabilitiesStart of year $156,899,481$198,297,807
X-27 Net assets without donor restrictionsStart of year $974,110,676$1,027,684,924
X-32 Total net assets or fund balancesStart of year $974,110,676$1,027,684,924
X-33 Total liabilities and net assetsStart of year $1,131,010,157$1,225,982,731
Part XI · Reconciliation of net assets $1,027,684,924 net assets at year end
XI-1 Total revenue$427,070,951
XI-2 Total expenses$412,141,678
XI-3 Revenue less expenses$14,929,273
XI-4 Net assets at start of year$974,110,676
XI-5 Net unrealized gains (losses) on investments$20,511,894
XI-9 Other changes in net assets$18,133,081
XI-10 Net assets at end of year$1,027,684,924

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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