Executive Compensation

2022 Novant Health form 990.

The following describes how executive leadership compensation is established at Novant Health, a not-for-profit organization. Listed below are the members of Novant Health Executive Team and the value of their 2022 compensation and benefits.

Our organization considers an employee's compensation personal and private; however, we also recognize the importance of transparency and public interest in how tax-exempt, not-for-profit organizations establish compensation and benefits for its top leaders.

Novant Health prepares and files annually a Form 990 with the Internal Revenue Service (IRS) that discloses important financial information about the organization, including executive compensation and benefits. These annual information returns follow IRS rules and regulations, but they can be easily misinterpreted because of their complexity. We hope you find the summary on this page useful.

How executive compensation is established

  • The Novant Health Board of Trustees, which consists of community leaders from organizations and businesses, establishes executive compensation. Novant Health executives are not involved in determining their own compensation and benefits.
  • Because Novant Health is a tax-exempt, not-for-profit organization, its executive compensation must follow very specific checks and balances. Compensation must be considered "reasonable" and within an acceptable range compared to similar organizations. Executive compensation and benefits are established by comparing Novant Health to other similar health systems and organizations around the country that are comparable in size, complexity and reputation. The Board hires national, independent experts who guide trustees in this benchmarking process and help assure that compensation and benefits do not exceed fair market value.
  • Compensation is designed to be competitive and to help recruit and retain leaders. Novant Health establishes executive base salaries in the same way it establishes compensation for all employees, by using market data and comparing to similar jobs.
  • A significant part of executive compensation is based upon the performance of the organization and achieving goals that are challenging, balanced and focused on improving the services we provide to patients and communities. The executive team performs in the top quartile nationally. Novant Health's goals focus on the quality and safety of healthcare, improving the patient experience, transforming to an electronic health record, financial stewardship and providing community benefit.

Novant Health provided more than $1.5 billion in community benefit, including financial assistance and services, in 2022. Novant Health is a very complex organization with over 36,000 employees, annual operating revenues of $7 billion, 16 medical centers and more than 800 locations. This complexity is taken into consideration by the compensation consultant and the committee when establishing its peer group.

 

Novant Health system executive compensation

 

Novant Health System Executive Team

Title

2022 Base Salary Compensation

2022 Incentive Compensation

2022 Total Annual Compensation

2022 Other Taxable Compensation (e.g., Retirement, Severance)

2022 Total Taxable Compensation

2022 Nontaxable Benefits (e.g., life/health insur, disability)

2022 Accruals of deferred compensation

Carl Armato

President & CEO

2,258,713

1,724,913

3,983,626

904,992

4,888,618

34,860

418,300

Frank Emory, Jr.

Executive Vice President, Chief Administrative Officer

790,498

599,395

1,389,893

204,085

1,593,978

31,679

18,300

John Gizdic

Executive Vice President, Chief Business Development Officer

957,106

797,153

1,754,259

485,434

2,239,693

37,994

215,030

Jeffery Lindsay

Executive Vice President, Chief Operating Officer

1,207,991

935,266

2,143,257

288,544

2,431,801

32,799

18,300

Denise Mihal

Executive Vice President, Chief Nursing and Clinical Operations Officer

834,650

692,010

1,526,660

229,105

1,755,765

21,052

18,300

Pamela Oliver, MD

Executive Vice President, President Novant Health Physician Network

701,293

541,038

1,242,331

61,960

1,304,291

33,831

163,933

J. Dean Swindle

Executive Vice President, Novant Health Enterprises

563,445

-

563,445

26,442

589,887

19,789

-