Virtu-West Jersey Health System Inc
- Assets
- $2.4b
- Revenue
- $1.0b
- Investments
- $1.5b
- Employees
- 5,408
- Location
- Marlton, NJ
- Founding
- 07/1942
- Data as of
- 12/2022
- EIN
- 21-0634532
Organization Overview
Virtu-West Jersey Health System Inc is located in Marlton, NJ. The organization was established in 1942. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2023, Virtu-West Jersey Health System Inc employed 5,408 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virtu-West Jersey Health System Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Virtu-West Jersey Health System Inc generated $1.0b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $878.1m during the year ending 12/2022. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO HELP THE COMMUNITY TO BE WELL, GET WELL AND STAY WELL
Describe the Organization's Program Activity:
UNREIMBURSED MEDICAID - VIRTUA PROVIDED CARE TO MANY COMMUNITY MEMBERS THAT ARE INSURED UNDER MEDICAL ASSISTANCE PROGRAMS, INCLUDING THE STATE ADMINISTERED MEDICAID PROGRAM. REIMBURSEMENT FOR THESE PROGRAMS IS LESS THAN THE COST OF THE SERVICES PROVIDED BY APPROXIMATELY $52 MILLION, AS ESTIMATED BY MANAGEMENT. SERVICES ARE PROVIDED ON BOTH AN INPATIENT AND OUTPATIENT BASIS, INCLUDING THROUGH EMERGENCY DEPARTMENTS AND CLINICS.
ADDITIONAL COMMUNITY BENEFITS, SUCH AS:COMMUNITY HEALTH IMPROVEMENT SERVICES: HELD EVENTS THROUGHOUT THE YEAR TO BRING AWARENESS TO MANY MEDICAL ISSUES TO THE COMMUNITY.EXPENSE OF $4,706,127REVENUE OF $1,066,356FINANCIAL ASSISTANCE AT COST: CHARITY CAREEXPENSE OF $9,644,125REVENUE OF $1,944,484RESEARCH: PREFORMED ONCOLOGY CLINICAL RESEARCH STUDIES.EXPENSE OF $305,902REVENUE OF $21,902FINANCIAL AND IN-KIND CONTRIBUTIONS: PROVIDED CONTRIBUTIONS TO NON-PROFIT COMMUNITIES AND HEALTHCARE ORGANIZATIONS THROUGHOUT CAMDEN AND GLOUCESTER COUNTIES. ALSO PROVIDED MEETING SPACES TO ORGANIZATIONS AND MEDICAL SUPPLIES TO FAMILIES IN NEED.EXPENSE OF $295,812REVENUE OF $1,346COMMUNITY BUILDING ACTIVITIES: HELD EVENTS THROUGHOUT THE YEAR TO FEED AND PROVIDE PRESENTS TO MANY FAMILIES IN NEED.EXPENSE OF $754,524REVENUE OF $404,730PROVIDING FUNCTIONAL PATIENT SERVICES FOR THE HOSPITALSEXPENSE OF $548,004,406REVENUE OF $894,076,231
VIRTUA PROVIDES A WIDE RANGE OF OUTPATIENT SERVICES TO MEET COMMUNITY NEEDS, INCLUDING PRIMARY AND SPECIALTY CARE FOR INFANTS, CHILDREN, TEENS AND ADULTS. VIRTUA SUBSIDIZES WOMEN'S CLINICS FOR GYNECOLOGICAL AND OBSTETRICAL CARE, CHILDREN'S AND NEONATAL INTENSIVE CARE, AS WELL AS BEHAVIORAL HEALTH AND EMERGENCY SERVICES. THE COSTS RELATED TO THESE SERVICES ARE IN EXCESS OF REIMBURSEMENTS TO VIRTUA.
IN SUPPORT OF ITS COMMITMENT TO ENSURING THE CONTINUING EDUCATION AND DEVELOPMENT OF MEDICAL PROFESSIONALS, VIRTUA - WEST JERSEY HAS ITS OWN RESIDENCY PROGRAMS AND PARTICIPATES IN PROGRAMS SPONSORED BY OTHER INSTITUTIONS. VIRTUA -WEST JERSEY SPECIFICALLY OFFERS RESIDENCY PROGRAMS TO DEVELOP PHYSICIANS IN FAMILY PRACTICE, DENTAL MEDICINE AND PODIATRIC MEDICINE. VIRTUA -WEST JERSEY PARTICIPATES IN RESIDENCIES THAT SUPPORT THE DEVELOPMENT OF PHYSICIANS PRACTICING OBSTETRICS AND GYNECOLOGY, EMERGENCY MEDICINE, AND SURGERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis W Pullin President/ceo | OfficerTrustee | 0.2 | $0 |
Hafeza Shaikh Trustee - Physician (start 3/22/22) | Trustee | 0.12 | $0 |
Edward B Cloues Chairman | OfficerTrustee | 0.16 | $0 |
James Dwyer DO Vice Chair | OfficerTrustee | 0.14 | $0 |
Patricia Codey Trustee | Trustee | 0.12 | $0 |
Elaine Damm Trustee | Trustee | 0.12 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fastaff Llc Staffing | 12/30/22 | $30,797,750 |
Cardinal Health 110 Llc Healthcare Services | 12/30/22 | $58,274,269 |
Morrison Mgmt Specialist Inc Management Services | 12/30/22 | $14,875,804 |
Aon Risk Services Central Inc Risk Management | 12/30/22 | $12,788,268 |
Turner Construction Co Contractor | 12/30/22 | $9,829,285 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $312,567 |
| Government grants | $3,343,774 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,656,341 |
| Total Program Service Revenue | $962,671,369 |
| Investment income | $1,428,309 |
| Tax Exempt Bond Proceeds | $45,728 |
| Royalties | $0 |
| Net Rental Income | $232,932 |
| Net Gain/Loss on Asset Sales | $11,893,559 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$135,163 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,034,437,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $934,037 |
| Compensation of current officers, directors, key employees. | $186,807 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $297,214,021 |
| Pension plan accruals and contributions | $10,027,854 |
| Other employee benefits | $32,876,843 |
| Payroll taxes | $21,765,052 |
| Fees for services: Management | $9,437,097 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $998 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,478,436 |
| Fees for services: Other | $89,223,538 |
| Advertising and promotion | $124,762 |
| Office expenses | $13,118,541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,995,772 |
| Travel | $581,404 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,311,882 |
| Interest | $12,493,102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,241,666 |
| Insurance | $4,884 |
| All other expenses | $11,483,312 |
| Total functional expenses | $878,094,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,826,143 |
| Savings and temporary cash investments | $20,219,078 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,716,514 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,079,120 |
| Prepaid expenses and deferred charges | $6,718,726 |
| Net Land, buildings, and equipment | $573,075,945 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,483,989,806 |
| Investments—program-related | $0 |
| Intangible assets | $7,386,554 |
| Other assets | $235,851,465 |
| Total assets | $2,427,863,351 |
| Accounts payable and accrued expenses | $92,905,236 |
| Grants payable | $0 |
| Deferred revenue | $3,505,990 |
| Tax-exempt bond liabilities | $509,802,294 |
| Escrow or custodial account liability | $123,277 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $195,694,500 |
| Total liabilities | $802,031,297 |
| Net assets without donor restrictions | $1,623,011,504 |
| Net assets with donor restrictions | $2,820,550 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,427,863,351 |