Valley Health System Inc
- Assets
- $58.6m
- Revenue
- $103.1m
- Investments
- $0.0
- Employees
- 500
- Location
- Ridgewood, NJ
- Founding
- 11/1988
- Data as of
- 12/2022
- EIN
- 22-2922016
Organization Overview
Valley Health System Inc is located in Ridgewood, NJ. The organization was established in 1988. According to its NTEE Classification (E70) the organization is classified as: Public Health, under the broad grouping of Health Care and related organizations. As of 12/2022, Valley Health System Inc employed 500 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Health System 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, Valley Health System Inc generated $103.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 58.2% each year . All expenses for the organization totaled $103.3m during the year ending 12/2022. While expenses have increased by 58.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MANAGEMENT AND PLANNING SERVICES FOR THE ENTITIES OF THE VALLEY HEALTH SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED MANAGEMENT AND PLANNING SERVICES TO ITS SUBSIDIARIES AND AFFILIATES OF THE VALLEY HEALTH SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Meyers President & Ceo, Vhs | OfficerTrustee | 8 | $3,974,039 |
Vincent Forlenza Chair | OfficerTrustee | 0.1 | $0 |
Kevin Lobo Vice Chair | OfficerTrustee | 0.1 | $0 |
Frank J Sheehy Vice Chair | OfficerTrustee | 0.1 | $0 |
Ann Limberg Vice Chair & Secretary | OfficerTrustee | 0.1 | $0 |
Joseph Marion Treasurer | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pangaia Partners Computer Security Services | 12/30/22 | $2,609,236 |
Spm Marketing & Communications Llc Healthcare Marketing & Communications | 12/30/22 | $2,452,759 |
Heritage Inc Commercial Printing | 12/30/22 | $820,469 |
Dispatch Health Management Llc Home Health Care | 12/30/22 | $718,016 |
Outfront Media Advertising Services | 12/30/22 | $689,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| 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 | $0 |
| Total Program Service Revenue | $102,672,075 |
| Investment income | $483,803 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$89,594 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $103,066,284 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $8,966,223 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,966,430 |
| Pension plan accruals and contributions | $2,063,979 |
| Other employee benefits | $5,354,443 |
| Payroll taxes | $3,476,557 |
| Fees for services: Management | $54,784 |
| Fees for services: Legal | $1,439,082 |
| Fees for services: Accounting | $64,279 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,344 |
| Fees for services: Other | $16,559,256 |
| Advertising and promotion | $6,389,309 |
| Office expenses | $1,010,876 |
| Information technology | $1,658,579 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $59,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $165,671 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,487,320 |
| All other expenses | $0 |
| Total functional expenses | $103,335,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,772,913 |
| Savings and temporary cash investments | $3,300,180 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $305,535 |
| 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 | $11,333,937 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $31,806,766 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,040,872 |
| Total assets | $58,560,203 |
| Accounts payable and accrued expenses | $18,049,003 |
| 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 | $35,927,438 |
| Total liabilities | $53,976,441 |
| Net assets without donor restrictions | $4,583,762 |
| Net assets with donor restrictions | $0 |
| 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 | $58,560,203 |