Hackensack Meridian Health Inc
- Assets
- $47.2m
- Revenue
- $18.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Hackensack, NJ
- Founding
- 09/1996
- Data as of
- 12/2015
- EIN
- 22-2339534
Organization Overview
Hackensack Meridian Health Inc is located in Hackensack, 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
THE HACKENSACK UNIVERSITY MEDICAL CENTER FOUNDATION RAISES FUNDS THAT SUPPORT THE DIVERSE PROGRAMS AND SERVICES OF HACKENSACK UNIVERSITY MEDICAL CENTER ("HACKENSACKUMC").
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN SUPPORTING THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF HACKENSACK UNIVERSITY MEDICAL CENTER; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT MEDICAL CENTER 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ulises E Diaz Chairman - Trustee | OfficerTrustee | 10 | $0 |
Lawrence R Inserra Jr Vice Chairman - Trustee | OfficerTrustee | 10 | $0 |
Gloria Martini Secretary/treasurer - Trustee | OfficerTrustee | 5 | $0 |
Jon M Fitzgeraldeff 61614 Trustee - Evp/coo | OfficerTrustee | 60 | $0 |
Robert C Garrett See Sch O Pres/ceo, Humc - Trustee | OfficerTrustee | 0 | $0 |
James P Andersen Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Legends Hospitality Event Mgt/catering | 12/30/14 | $526,523 |
On The Move Entertainment Inc Entertainment | 12/30/14 | $151,200 |
Bentley Meeker Lighting Staging Entertainment | 12/30/14 | $136,230 |
Ridgewood Country Club Event Mgt/catering | 12/30/14 | $130,085 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,508,228 |
| Investment income | $958,383 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $161,409 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,628,020 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $73,533 |
| 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 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 | $94,374 |
| Fees for services: Legal | $16,382 |
| Fees for services: Accounting | $28,318 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,073 |
| Fees for services: Other | $24,750 |
| Advertising and promotion | $298,554 |
| Office expenses | $348,482 |
| Information technology | $42,560 |
| Royalties | $0 |
| Occupancy | $170,952 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $246,044 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $53,797 |
| All other expenses | $0 |
| Total functional expenses | $10,211,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $614,085 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $15,163,670 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $17,552 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,352,394 |
| Intangible assets | $0 |
| Other assets | $21,026,667 |
| Total assets | $47,174,368 |
| Accounts payable and accrued expenses | $150,503 |
| 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 | $1,175,253 |
| Total liabilities | $1,325,756 |
| Net assets without donor restrictions | $10,567,611 |
| Net assets with donor restrictions | $26,499,850 |
| Capital stock or trust principal, or current funds | $8,781,151 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $45,848,612 |
Grants Awarded
Over the last fiscal year, Hackensack Meridian Health Inc has awarded $18,923,171 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Edison, NJ PURPOSE: PROGRAM SERVICES | $18,883,171 |
Parsippany, NJ PURPOSE: PROGRAM SUPPORT | $25,000 |
New York, NY PURPOSE: SPONSORSHIP | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Hackensack Meridian Health Inc has recieved totaling $700,307.
| Awarding Organization | Amount |
|---|---|
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $275,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: MEDICAL/SCIENTIFIC RESEARCH & PROGRAMS | $110,000 |
Pga Tour Inc Ponte Vedra Beach, FL PURPOSE: GENERAL SUPPORT | $110,000 |
Arthritis Foundation Inc Atlanta, GA PURPOSE: RESEARCH | $50,000 |
Fighting Childrens Cancer Foundation Inc Fairfield, NJ | | $49,500 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: MEDICAL / PUBLIC SERVICES | $30,000 |
Endowment Analysis
| Beg. Balance | $2,908,278 |
| Earnings | $70,286 |
| Net Contributions | $2,097,349 |
| Other Expense | $82,417 |
| Ending Balance | $4,993,496 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbiadoctors Newyork-Presbyterian Imaging New York, NY | $48,011,662 | $60,111,009 |
Behavioral Wellness Center At Girard Philadelphia, PA | $26,586,230 | $42,933,018 |
Hackensack Meridian Health Inc Neptune, NJ | $16,398,664 | $35,763,522 |
Auburn Memorial Medical Services Pc Auburn, NY | $2,235,754 | $24,512,215 |
Rochester Regional Health Rochester, NY | $128,642,293 | $30,753,165 |
Centerville Clinics Inc Fredericktown, PA | $48,530,050 | $40,732,543 |
Oak Orchard Community Inc Brockport, NY | $20,165,727 | $27,606,467 |
Upstate Community Medical P C Syracuse, NY | $6,542,142 | $26,680,338 |
Montefiore Medicine Academic Health System Inc Tarrytown, NY | $16,007,860 | $26,430,573 |
Creative Health Services Inc Pottstown, PA | $28,190,052 | $30,096,171 |
Erieniagara Mltcp Inc Lockport, NY | $17,635,497 | $30,080,991 |
Catholic Health System Program Of All Inclusive Care For The Elderly Buffalo, NY | $30,769,024 | $24,759,387 |