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Executive compensation

2019 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 2019 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 $993.2 million in community benefit, including financial assistance and services, in 2019. Novant Health is a very complex organization with over 29,000 employees, annual operating revenues of $5 billion, 15 medical centers and nearly 700 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 2019 Base Salary Compensation 2019 Incentive Compensation 2019 Total Annual Compensation 2019 Other Compensation, such as Retirement Payments or Severance Nontaxable Benefits such as life and health insurance, disability Accounting accruals for deferred compensation
Carl Armato President & CEO Novant Health 1,619,458 1,452,510 3,062,968 999,114 40,938 24,300
Tanya Blackmon Executive vice president, chief diversity, inclusion and equity officer Novant Health 369,816 282,896 652,712 165,678 15,431 102,273
Jesse Cureton
Executive vice president and chief consumer officer Novant Health 598,439 564,280 1,162,719 293,557 39,254 149,133
Frank
Emory, Jr.
Executive vice president and chief administrative officer Novant Health 590,059 100,000 690,059 64,889 32,593
Eric Eskioglu Executive vice president and chief medical officer Novant Health 773,705 487,416 1,261,121 225,519 38,671 184,300
Fred Hargett Executive vice president and chief financial officer Novant Health 868,308 795,468 1,663,776 557,745 40,195 24,300
Jeffery Lindsay Executive vice president and chief operating officer Novant Health 987,316 836,381 1,823,697 290,924 30,812 24,300
Denise Mihal Executive vice president, chief nursing and clinical operations officer 728,775 640,413 1,369,188 325,074 19,991 24,300
Pamela Oliver Executive vice president and president of Novant Health Physician Network 514,261 36,602 550,863 97,986 29,617 131,100
Angela Yochem Executive vice president, chief digital and technology officer Novant Health 526,154 440,475 966,629 110,559 35,371 126,000