Centrastate Medical Center Inc
- Assets
- $418.0m
- Revenue
- $348.8m
- Investments
- $0.0
- Employees
- 2,407
- Location
- Freehold, NJ
- Founding
- 07/1964
- Data as of
- 12/2021
- 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 12/2021, Centrastate Medical Center Inc employed 2,407 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 12/2021, Centrastate Medical Center Inc generated $348.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $343.5m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John T Gribbin Trustee - President/ceo | OfficerTrustee | 55 | $1,241,943 |
Thomas W Scott Svp/coo | Officer | 55 | $655,441 |
John A Dellocono Svp/cfo | Officer | 55 | $574,957 |
David A DE Simone ESQ SVP Transformation/clo | Officer | 55 | $552,325 |
James J Matera MD Svp/medical Director | Officer | 50 | $512,640 |
Moustafa Shafey MD Medical Dir. - Mental Hlth | 50 | $349,220 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
High Energy Electric Inc Construction | 12/30/21 | $4,746,390 |
Brian Tracy Architect | 12/30/21 | $1,681,548 |
Holmdel Physician Associates Medical | 12/30/21 | $1,346,514 |
Ernst Young Llp Consulting/audit | 12/30/21 | $654,766 |
Mainsail Holdco Llc Billing | 12/30/21 | $790,448 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,192,435 |
| Government grants | $19,835,849 |
| 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 | $21,028,284 |
| Total Program Service Revenue | $314,406,553 |
| Investment income | $6,414,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,519,736 |
| Net Gain/Loss on Asset Sales | $3,998,532 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $348,797,120 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,693 |
| 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. | $6,237,859 |
| Compensation of current officers, directors, key employees. | $623,785 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $119,031,893 |
| Pension plan accruals and contributions | $5,734,276 |
| Other employee benefits | $16,020,507 |
| Payroll taxes | $8,858,371 |
| Fees for services: Management | $249,586 |
| Fees for services: Legal | $415,967 |
| Fees for services: Accounting | $654,766 |
| Fees for services: Lobbying | $20,434 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $370,132 |
| Fees for services: Other | $49,263,565 |
| Advertising and promotion | $2,391,399 |
| Office expenses | $12,202,395 |
| Information technology | $4,114,211 |
| Royalties | $0 |
| Occupancy | $7,747,238 |
| Travel | $44,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,196,997 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,081,953 |
| Insurance | $2,206,511 |
| All other expenses | $6,380,649 |
| Total functional expenses | $343,504,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,768,100 |
| Savings and temporary cash investments | $14,772,162 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,761,749 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,020,658 |
| Prepaid expenses and deferred charges | $3,370,246 |
| Net Land, buildings, and equipment | $144,556,368 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $182,700,703 |
| Intangible assets | $0 |
| Other assets | $26,010,028 |
| Total assets | $417,960,014 |
| Accounts payable and accrued expenses | $48,093,151 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $53,972,420 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $29,228,177 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,004,153 |
| Total liabilities | $182,297,901 |
| Net assets without donor restrictions | $215,857,150 |
| Net assets with donor restrictions | $19,804,963 |
| 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 | $417,960,014 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Centrastate Medical Center Inc has recieved totaling $1,192,435.
| Awarding Organization | Amount |
|---|---|
Centrastate Healthcare Foundation Freehold, NJ PURPOSE: GENERAL SUPPORT | $1,192,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Englewood Hospital And Medical Center A New Jersey Nonprofit Corp Englewood, NJ | $770,563,796 | $890,451,423 |
Inspira Medical Centers Inc Bridgeton, NJ | $1,997,035,403 | $960,599,521 |
Valley Hospital Inc Ridgewood, NJ | $2,214,086,950 | $1,000,529,103 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Virtu-West Jersey Health System Inc Marlton, NJ | $2,706,789,713 | $1,000,808,483 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Bayhealth Medical Center Inc Dover, DE | $1,592,804,671 | $861,509,299 |