Cone Health
Legal name: Moses H Cone Memorial Hospital Operating Corporation
Nonprofit profile at a glance
- EIN
- 581588823
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Greensboro, NC, USA
- Phone
- 336-832-8000
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $598,632,199
- Expenses
- $550,308,780
- Assets
- $1,998,205,395
- Liabilities
- $236,357,697
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
35 people listed
Executive titles in this filing
- CAGLE MD MARY JO (PRESIDENT & CEO)
- HAMMOCK PRESTON (SVP & PRESIDENT MOSES CONE HOS)
Highest reported compensation
- CAGLE MD MARY JO (PRESIDENT & CEO): $2,397,790 total reported compensation
- PRIEST MD MARLON (EXE VP & ASST SEC THRU 02/24): $2,132,944 total reported compensation
- EATON MANDY (CHIEF OPERATING OFFICER): $1,357,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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What it reported doing in 2024
Provision of healthcare services: during the fiscal year, moses h. Cone memorial operating system had a total of 11,431 patient discharges, 59,337 days of care, 293,963 total outpatient and telehealth visits and an average daily census of 645.0.
Operating model
- Revenue model
- Other-operating. 99% of the money available for current operations came from other operating 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 78
- Accountability: 92
- Sustainability: 69
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 82.8%; rating input score 83
- Program expense ratio: 90%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 17th 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: 47.9%; rating input score 48; 10th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 86.7%; rating input score 87; 33rd 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: 8.1%; rating input score 67; 67th percentile among comparable filings
- Total-asset coverage ratio: 3.63; rating input score 80; 80th percentile among comparable filings
- Liabilities to assets ratio: 0.12; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: 3.6% per year; rating input score 100; 28th percentile among comparable filings
- Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: 10.2% per year; rating input score 100; 71st percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site
- Where the money goes: 82.8% of revenue deployed · 90% of spending went to programs
- Governance: 13 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $495.3M in reported program spending
- Leadership: top reported pay $2.4M · 35 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $188.9M reported
- Consistency: 34 of 35 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 25 filed money-flow records
- Related organizations: 80 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Transparency & Controls: Grant itemization coverage scored 48/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.