Monarch Healthcare
Legal name: Monarch
Nonprofit profile at a glance
- EIN
- 561326126
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Albemarle, NC, United States
- Phone
- (866) 272-7826
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Family Services
Reported finances
- Revenue
- $115,589,948
- Expenses
- $114,846,596
- Assets
- $59,624,587
- Liabilities
- $26,900,307
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- PEGGY TERHUNE (CEO)
- BLAKE MARTIN (PRESIDENT)
Highest reported compensation
- PEGGY TERHUNE (CEO): $614,526 total reported compensation
- TERRI BERNHARDT (CAO): $447,254 total reported compensation
- DR DOUGLAS SMITH (PSYCHIATRIST): $424,376 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
At Monarch, we believe recovery from mental illness and addiction is possible. We believe that people with intellectual and developmental disabilities can thrive. In short, we believe that all people can achieve their unique potential. Monarch provides support to more than 27,000 people in North Carolina and Rhode Island each year. Our dedicated team of nearly 1,600 staff members provide daily care, support and services to those who need us most. Monarch is nationally accredited by The Joint Commission, which indicates our commitment to the highest levels of quality health care and an investment in providing exceptional services to everyone we support. Our Mission.
What it reported doing in 2024
Nc medicaid is committed to effectively managing patients medical, social and behavioral conditions through a teambased, personcentered approach called care management. All medicaid enrollees will have access to appropriate care management and coordination support across multiple settings of care, including a strong basis in primary care and connections to specialty care and communitybased resources. Enrollees with high medical, behavioral or social needs should have access to a program of care management that includes the involvement of a multidisciplinary care team and the development of a written care plan. Local care management (care management performed at the site of care, in the home, or in the community where facetoface interaction is possible) is the preferred approach, building on the strengths of the current care management structure. Care managers will have access to timely and complete enrolleelevel information. As part of care management and care coordination, enrollees will have access to direct linkages to programs and services that address unmet healthrelated resource needs affecting social determinants of health, along with followup and ongoing planning. Care management activities will align with overall statewide priorities for achieving quality outcomes and value. 1,340 patients were served in the current year.ancillary program service revenue including rents, sales of inventory & refunds / reimbursements related to exempt purpose.
Operating model
- Revenue model
- Other-operating. 96% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 89
- Accountability: 100
- Sustainability: 30
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81.2%; rating input score 81
- Program expense ratio: 81.4%; rating input score 81
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.6%; rating input score 35; 35th percentile among comparable filings
- Total-asset coverage ratio: 0.52; rating input score 19; 19th percentile among comparable filings
- Liabilities to assets ratio: 0.45; rating input score 40; 40th percentile among comparable filings
- Officer compensation ratio: 3.6%; rating input score 30; 30th percentile among comparable filings
Growth
- Program expense growth: 4.2% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 5.6% per year; rating input score 100; 48th percentile among comparable filings
- Asset growth: 11.5% per year; rating input score 100; 77th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 81.2% of revenue deployed · 81.4% of spending went to programs
- Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $93.5M in reported program spending
- Leadership: top reported pay $615K · 30 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $3.7M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 8 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 13 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 35/100.
- High — Sustainability: Total-asset coverage ratio scored 19/100.
- Moderate — Sustainability: Officer compensation ratio scored 30/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 40/100.