Centrastate Medical Center Inc
- Assets
- $400.0m
- Revenue
- $353.8m
- Investments
- $0.0
- Employees
- 2,393
- Location
- Freehold, NJ
- Founding
- 07/1964
- Data as of
- 12/2022
- EIN
- 22-1750190
Organization Overview
Centrastate Medical Center Inc is located in Freehold, NJ. The organization was established in 1964. 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 12/2022, Centrastate Medical Center Inc employed 2,393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centrastate Medical Center 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, Centrastate Medical Center Inc generated $353.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $379.6m during the year ending 12/2022. While expenses have increased by 4.8% 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
CENTRASTATE MEDICAL CENTER'S MISSION IS TO ENHANCE THE HEALTH AND WELL-BEING OF OUR COMMUNITIES THROUGH THE COMPASSIONATE DELIVERY OF QUALITY HEALTHCARE.
Describe the Organization's Program Activity:
EXPENSES INCURRED IN PROVIDING INPATIENT, OUTPATIENT, EMERGENCY AND VARIOUS OTHER MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY AND IN FURTHERANCE OF CHARITABLE TAX-EXEMPT PURPOSES. PLEASE REFER TO THE COMMUNITY BENEFIT STATEMENT IN SCHEDULE O.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas W Scott Trustee - Pres/ceo (eff. 4/9) | OfficerTrustee | 55 | $1,104,034 |
John T Gribbin Trustee-Pres/ceo(retired 4/8) | OfficerTrustee | 55 | $899,967 |
David A DE Simone ESQ SVP Transform/clo(term 10/14) | Officer | 55 | $747,263 |
John A Dellocono Svp/cfo | Officer | 55 | $619,526 |
James J Matera MD Svp/medical Director | Officer | 50 | $579,740 |
Cathleen G Janzekovich Vp, Patient Services | Officer | 50 | $394,098 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mainsail Holdco Llc Billing | 12/30/22 | $1,743,953 |
Health Carousel Staffing | 12/30/22 | $1,718,995 |
High Energy Electric Inc Construction | 12/30/22 | $1,278,704 |
Brian Tracy Architect | 12/30/22 | $975,390 |
Crest Construction Group Construction | 12/30/22 | $808,888 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,989,045 |
| Government grants | $17,480,337 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $32,330 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,469,382 |
| Total Program Service Revenue | $319,198,497 |
| Investment income | $4,254,391 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,280,144 |
| Net Gain/Loss on Asset Sales | $4,049,703 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $353,792,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,570 |
| 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. | $6,640,048 |
| Compensation of current officers, directors, key employees. | $664,005 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,838,445 |
| Pension plan accruals and contributions | $5,814,095 |
| Other employee benefits | $15,750,598 |
| Payroll taxes | $9,567,127 |
| Fees for services: Management | $343,324 |
| Fees for services: Legal | $878,359 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $16,474 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $289,818 |
| Fees for services: Other | $66,179,953 |
| Advertising and promotion | $3,302,230 |
| Office expenses | $13,017,237 |
| Information technology | $4,413,032 |
| Royalties | $0 |
| Occupancy | $7,874,133 |
| Travel | $88,896 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,220,052 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,848,656 |
| Insurance | $2,179,639 |
| All other expenses | $9,855,381 |
| Total functional expenses | $379,581,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,308,293 |
| Savings and temporary cash investments | $14,535,639 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,151,129 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,014,031 |
| Prepaid expenses and deferred charges | $2,536,435 |
| Net Land, buildings, and equipment | $189,406,071 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $122,190,229 |
| Intangible assets | $0 |
| Other assets | $26,903,169 |
| Total assets | $400,044,996 |
| Accounts payable and accrued expenses | $53,010,445 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,271,269 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $108,166,207 |
| Total liabilities | $167,447,921 |
| Net assets without donor restrictions | $215,577,120 |
| Net assets with donor restrictions | $17,019,955 |
| 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 | $400,044,996 |