Cone Health

Legal name: Moses Cone Physician Services Inc

Nonprofit profile at a glance

EIN
800249057
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Greensboro, NC, US
Phone
336-832-7000
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health Treatment Facilities, Primarily Outpatient

Official website

Reported finances

Revenue
$24,780,449
Expenses
$39,569,583
Assets
$53,709,294
Liabilities
$453,424,932

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • PORTILLO MD MARTIN (FORMER PRESIDENT)
  • BROWN CHRISTOPHER (VICE-PRESIDENT)
  • CURRAN WILLIAM (PRESIDENT)

Highest reported compensation

  • CAGLE MD MARY JO (DIRECTOR): $2,397,790 total reported compensation
  • YARBROUGH MD CHESTER (PHYSICIAN): $1,652,682 total reported compensation
  • DILLINGHAM MD CLAIRE (PHYSICIAN): $1,192,974 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cone Health is a not-for-profit health care system serving the Piedmont Triad region of North Carolina, committed to providing high-quality, compassionate care to the communities it serves.

What it reported doing in 2024

Provision of physician services. Physicians provided 44,107 office, hospital, and telehealth visits this year. Of the total gross charges booked for the year, 66.81% were for medicare or medicaid patients, and the company provided $613,295 of charity care to the community.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 88
  • Accountability: 42
  • Sustainability: 15
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd 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: -59.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 1.36; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 8.44; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 17.1%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 6.5% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 77th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 0 of 3 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $35.6M in reported program spending
  • Leadership: top reported pay $2.4M · 12 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 74 filed related-organization links
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.