Hackensack Meridian Health Inc
- Assets
- $71.4m
- Revenue
- $79.5m
- Investments
- $0.0
- Employees
- 1,251
- Location
- Neptune, NJ
- Founding
- 09/1996
- Data as of
- 12/2018
- EIN
- 22-1714106
Organization Overview
Hackensack Meridian Health Inc is located in Neptune, NJ. The organization was established in 1996. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2018, Hackensack Meridian Health Inc employed 1,251 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Hackensack Meridian Health 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 12/2018, Hackensack Meridian Health Inc generated $79.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $82.0m during the year ending 12/2018. While expenses have increased by 3.5% per year over the past 4 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
HMH CARRIER CLINIC'S PRIMARY ACTIVITIES ARE INPATIENT AND ADOLESCENT RESIDENTIAL PSYCHIATRIC TREATMENT, SUBSTANCE ABUSE TREATMENT AND REHABILITATION, AND SPECIAL EDUCATION FOR ADOLESCENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PSYCHIATRIC HOSPITAL PROVIDED SPECIALIZED MENTAL HEALTH TREATMENT PROGRAMS TO 5,091 INPATIENTS AND HAD A TOTAL OF 55,991 PATIENTS DAYS.
EAST MOUNTAIN SCHOOL PROVIDED QUALITY SPECIAL EDUCATION AND THERAPEUTIC SERVICES FOR 218 ADOLESCENTS AFFECTED BY BEHAVIORAL AND PSYCHIATRIC DISORDERS.
BLAKE RECOVERY CENTER PROVIDED SPECIALIZED TREATMENT AND REHABILITATION PROGRAMS FOR SUBSTANCE ABUSE TO 1,250 INPATIENTS AND HAD A TOTAL OF 10,610 PATIENT DAYS.
OTHER PROGRAMS OF NOTE TO THE COMMUNITY - RESIDENTIAL SERVICES, WHICH INCLUDE EAST MOUNTAIN YOUTH LODGE, SWAN LODGE, SUNFLOWER LODGE, AND LOTUS LODGE FOR EMOTIONALLY DISTURBED ADOLESCENTS, CARED FOR 112 RESIDENTS AND HAD A TOTAL OF 27,331 PATIENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Parker President & CEO | OfficerTrustee | 40 | $737,887 |
Umesh Mehta MD Chief Medical Director | OfficerTrustee | 40 | $566,719 |
Randolph Jacobson VP & CFO | Officer | 40 | $342,749 |
Syed Ali MD Psychiatrist | 40 | $328,316 | |
Abdul Kazi MD Psychiatrist | 40 | $326,874 | |
Joseph Verret MD Psychiatrist | 40 | $316,549 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Dietary & Housekeeping | 12/30/18 | $2,780,692 |
Mccarter & English Llp Legal Services | 12/30/18 | $822,653 |
Drinker Biddle & Reath Llp Legal Services | 12/30/18 | $554,437 |
New Advanced Medical Services Group Internal Medicine | 12/30/18 | $473,575 |
Kpmg Llp Auditing Services | 12/30/18 | $224,049 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $76,699 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $76,699 |
| Total Program Service Revenue | $77,112,617 |
| Investment income | $578,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $852,651 |
| Net Income from Fundraising Events | $1,154 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,547,655 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,149 |
| 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. | $2,723,932 |
| Compensation of current officers, directors, key employees. | $1,584,380 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,655,143 |
| Pension plan accruals and contributions | $2,548,423 |
| Other employee benefits | $5,352,086 |
| Payroll taxes | $3,518,839 |
| Fees for services: Management | $160,564 |
| Fees for services: Legal | $2,124,632 |
| Fees for services: Accounting | $252,128 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,162 |
| Fees for services: Other | $3,003,719 |
| Advertising and promotion | $967,130 |
| Office expenses | $922,153 |
| Information technology | $279,861 |
| Royalties | $0 |
| Occupancy | $745,845 |
| Travel | $73,883 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,696 |
| Interest | $993,104 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,337,735 |
| Insurance | $875,764 |
| All other expenses | $896,143 |
| Total functional expenses | $82,007,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,821,810 |
| Savings and temporary cash investments | $22,341 |
| Pledges and grants receivable | $53,652 |
| Accounts receivable, net | $7,983,252 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $232,560 |
| Prepaid expenses and deferred charges | $632,241 |
| Net Land, buildings, and equipment | $30,336,250 |
| Investments—publicly traded securities | $26,460,009 |
| Investments—other securities | $0 |
| Investments—program-related | $875,111 |
| Intangible assets | $0 |
| Other assets | $1,951,835 |
| Total assets | $71,369,061 |
| Accounts payable and accrued expenses | $8,736,079 |
| Grants payable | $0 |
| Deferred revenue | $197,068 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $17,540,957 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,015,076 |
| Total liabilities | $34,489,180 |
| Unrestricted restricted net Assets | $36,527,241 |
| Temporarily restricted net Assets | $352,640 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $36,879,881 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hackensack Meridian Health Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Hackensack Meridian Health Inc Edison, NJ PURPOSE: SPONSORSHIP | $25,000 |
Endowment Analysis
| Beg. Balance | $451,205 |
| Net Contributions | $215,418 |
| Other Expense | $313,983 |
| Ending Balance | $352,640 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Josephs Health System Subordinate Group Return Paterson, NJ | $1,081,595,215 | $963,799,571 |
Atlanticare Health System Inc Egg Harbor Township, NJ | $1,893,827,880 | $909,225,575 |
Geisinger System Services Danville, PA | $1,398,222,343 | $715,016,181 |
Bon Secours Charity Health System Affiliated Group Suffern, NY | $223,032,633 | $606,730,244 |
Highmark Health Pittsburgh, PA | $708,603,703 | $583,319,053 |
Hackensack Meridian Health Inc Edison, NJ | $279,460,343 | $549,822,020 |
Wellspan Health York, PA | $671,523,886 | $507,378,748 |
St Clair Health Corporation Pittsburgh, PA | $808,105,796 | $406,482,026 |
Wyckoff Heights Medical Center Brooklyn, NY | $318,132,023 | $364,136,906 |
Albany Medical Center Glens Falls, NY | $356,058,419 | $346,451,670 |
Centerlight Healthcare Inc Flushing, NY | $62,373,058 | $284,939,095 |
Albany Medical Center Saratoga Springs, NY | $380,815,690 | $338,787,899 |