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Executive compensation

2015 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 Executive Team and the value of their 2015 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 executives are not involved in determining their own compensation and benefits.
  • Because Novant 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 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'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.
  • In 2015, Novant Health provided more than $706 million in community benefit, including $125 million in direct charity care. Novant Health is a very complex organization with 24,000 employees, annual revenues of $4.1 billion, 14 medical centers and approximately 450 locations across four states which include physician clinics and outpatient centers. This complexity is taken into consideration by the compensation consultant and the Committee when establishing its peer group.
Novant Health System Executive Compensation
Executive Team
Novant Health System Executives
Title 2015 Base Salary Compensation 2015 Incentive Compensation 2015 Total Annual Compensation 2015 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
1,306,659 1,019,029 2,843,976
518,288
35,263
59,400
Pete Brunstetter Chief Legal Officer & General Counsel Novant Health 475,707 305,850 811,297 29,740 31,202 157,824
Jesse Cureton Chief Consumer Officer Novant Health
610,977 502,171 1,141,747
28,599 35,606
183,945
Jacqueline Daniels Former Chief Administrative Officer Novant Health
605,353 479,929 1,116,387 31,105 17,151
65,400
Fred Hargett Chief Financial Officer Novant Health
811,869 580,244 1,683,471 291,358
33,083 59,400
Jeffery Lindsay
Chief Operating Officer & Executive Vice President Novant Health
787,093
481,548 1,425,622
156,981
37,138 59,400
John Phipps, MD President Novant Health medical group & Executive Vice President Novant Health
571,596 378,793
922,040 25,651 35,382
159,999
Thomas Zweng, MD Chief Medical Officer & Executive Vice President Novant Health
540,299 355,277 927,191 31,615
41,134
170,124