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Executive compensation

2020 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 2020 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 2020. 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 2020 Base Salary Compensation 2020 Incentive Compensation 2020 Total Annual Compensation 2020 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 1,739,096 1,536,365 3,275,461 724,824 41,273 17,100
Tanya Blackmon Executive vice president, chief diversity, inclusion and equity officer Novant Health 392,113 329,709 721,822 119,857 15,437 99,752
Jesse Cureton
Executive vice president and chief consumer officer Novant Health 599,309 589,927 1,189,236 210,853 39,588 141,933
Frank
Emory, Jr.
Executive vice president and chief administrative officer Novant Health 660,971 468,257 1,129,228 166,004 29,973 17,100
Eric Eskioglu Executive vice president and chief medical officer Novant Health 774,754 675,414 1,450,168 177,650 41,983 177,100
Fred Hargett Executive vice president and chief financial officer Novant Health 915,027 833,961 1,748,988 381,324 41,226 17,100
Jeffery Lindsay Executive vice president and chief operating officer Novant Health 1,030,071 907,641 1,937,712 248,139 30,908 17,100
Denise Mihal Executive vice president, chief nursing and clinical operations officer 753,148 670,559 1,423,707 199,240 19,951 17,100
Pamela Oliver Executive vice president and president of Novant Health Physician Network 607,774 350,126 957,900 57,311 27,709 143,124
Angela Yochem Executive vice president, chief digital and technology officer Novant Health 559,831 442,751 1,002,582 35,958 35,739 132,852