Hackensack Meridian Health Inc
- Assets
- $9.7m
- Revenue
- $3.0m
- Investments
- $5.3m
- Employees
- 0
- Location
- Neptune, NJ
- Founding
- 09/1996
- Data as of
- 12/2017
- EIN
- 22-2315044
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. 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 12/2017, Hackensack Meridian Health Inc generated $3.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (10.6%) per year over the past 3 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF JFK HEALTH SYSTEM, INC. AND ITS AFFILIATES, INCLUDING THE COMMUNITY HOSPITAL GROUP, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF JFK HEALTH SYSTEM, INC. AND ITS AFFILAITES, INCLUDING THE COMMUNITY HOSPITAL GROUP, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, RELIGION OR ABILITY TO PAY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph W Yewaisis Chair - Trustee | OfficerTrustee | 3 | $0 |
Steven Rothman Vice Chair - Trustee | OfficerTrustee | 3 | $0 |
A Joyce Busch Secretary/treasurer - Trustee | OfficerTrustee | 3 | $0 |
Donna Meade Trustee/fdn Pres; Ex-Offico | OfficerTrustee | 3 | $0 |
Richard C Smith Sr VP & CFO | Officer | 3 | $0 |
Vincent Amabile Trustee | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $482,954 |
| Related organizations | $18,798 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,489,528 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,991,280 |
| Total Program Service Revenue | $976,787 |
| Investment income | $122,280 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,800 |
| Net Gain/Loss on Asset Sales | $31,360 |
| Net Income from Fundraising Events | -$184,288 |
| Net Income from Gaming Activities | $32,378 |
| Net Income from Sales of Inventory | $46,409 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,039,006 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,202,258 |
| Grants and other assistance to domestic individuals. | $7,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $88,499 |
| Fees for services: Other | $25,925 |
| Advertising and promotion | $27,432 |
| Office expenses | $103,211 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,272 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,592 |
| All other expenses | $838,866 |
| Total functional expenses | $2,319,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,870,981 |
| Savings and temporary cash investments | $269,646 |
| Pledges and grants receivable | $703,210 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,456 |
| Prepaid expenses and deferred charges | $36,110 |
| Net Land, buildings, and equipment | $377,358 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,283,424 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $117,018 |
| Total assets | $9,692,203 |
| Accounts payable and accrued expenses | $178,765 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $178,765 |
| Unrestricted restricted net Assets | $1,684,705 |
| Temporarily restricted net Assets | $6,062,644 |
| Permanently restricted net Assets or current funds | $1,766,089 |
| 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 | $9,513,438 |
Grants Awarded
Over the last fiscal year, Hackensack Meridian Health Inc has awarded $1,202,258 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Edison, NJ PURPOSE: SUPPORT | $1,023,179 |
Neptune, NJ PURPOSE: SUPPORT | $76,243 |
Neptune, NJ PURPOSE: SUPPORT | $54,973 |
Neptune, NJ PURPOSE: SUPPORT | $28,953 |
Neptune, NJ PURPOSE: SUPPORT | $18,910 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hackensack Meridian Health Inc has recieved totaling $155,702.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $80,702 |
Delta Dental Endowment Association Of New Jersey Inc Parsippany, NJ PURPOSE: PROGRAM SUPPORT | $45,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $30,000 |
Endowment Analysis
| Beg. Balance | $1,244,626 |
| Net Contributions | $521,463 |
| Ending Balance | $1,766,089 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Main Line Health System Newtown Square, PA | $716,989,438 | $16,528,062 |
Albany Medical Center Saratoga Springs, NY | $17,328,223 | $18,761,699 |
Keystone Human Services Harrisburg, PA | $87,650,682 | $15,974,485 |
Metropolitan Medical Practice Plan Pc Bronx, NY | $6,076,770 | $14,643,918 |
Gslpg Inc Allentown, PA | $2,068,397 | $14,256,674 |
Wellspan Health Care Services York, PA | $27,111,355 | $16,698,867 |
Heritage Valley Health System Inc Beaver, PA | $119,093,589 | $30,915,024 |
Pittsburgh Mercy Health System Inc Pittsburgh, PA | $67,521,734 | $13,055,628 |
Glade Run Medical Associates Kittanning, PA | $1,611,141 | $7,978,684 |
Buffalo Niagara Medical Campus Inc Buffalo, NY | $98,865,415 | $10,408,874 |
Highmark Health Pittsburgh, PA | $7,929,072 | $9,317,844 |