Hackensack Meridian Health Medical Group-Specialty Care Pc
- Assets
- $222.4m
- Revenue
- $278.3m
- Investments
- $0.0
- Employees
- 995
- Location
- Edison, NJ
- Founding
- 08/1999
- Data as of
- 12/2022
- EIN
- 22-3376459
Organization Overview
Hackensack Meridian Health Medical Group-Specialty Care Pc is located in Edison, NJ. The organization was established in 1999. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. As of 12/2022, Hackensack Meridian Health Medical Group-Specialty Care Pc employed 995 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hackensack Meridian Health Medical Group-Specialty Care Pc 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, Hackensack Meridian Health Medical Group-Specialty Care Pc generated $278.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $278.3m during the year ending 12/2022. While expenses have increased by 6.1% 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 SERVE AS THE PHYSICIAN SERVICES COMPONENT OF A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK & TO THEREBY PROMOTE, SUPPORT & FURTHER THE CHARITABLE PURPOSES, PROGRAMS & SERVICES OF HMH HOSPITALS CORP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES DIRECTLY TO PATIENTS THROUGH THE PHYSICIANS EMPLOYED BY THE CORPORATION. ALSO, PROVIDING ADMINISTRATIVE, SUPERVISORY, TEACHING, COVERAGE AND RESEARCH SERVICES TO HMH HOSPITALS CORPORATION; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, IN FURTHERANCE OF ITS PRIMARY TAX-EXEMPT PURPOSE IN PROVIDING 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. ACCORDINGLY, THE CORPORATION IS AN INTEGRAL PART OF HACKENSACK MERIDIAN HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK.
PROMOTE A CLINICALLY INTEGRATED NETWORK OF HEALTH CARE PROVIDERS WITH THE GOAL OF IMPROVING HEALTH OUTCOMES, REDUCING HEALTH CARE COSTS, AND ENHANCING PATIENT EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Harris Physician | 55 | $5,143,527 | |
Harold Perl Physician | 55 | $1,915,420 | |
Francis Patterson Chief, Orthopedic Oncology | 55 | $1,763,638 | |
Michael Stifelman MD Chair, Urology | 55 | $1,629,121 | |
Daniel Varga Chief Physician Executive | OfficerTrustee | 0 | $0 |
Nabil Rizk Physician | 55 | $1,317,797 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $124,313,693 |
| Government grants | $161,072 |
| All other contributions, gifts, grants, and similar amounts not included above | $138,460 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $124,613,225 |
| Total Program Service Revenue | $153,445,326 |
| Investment income | $185,175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $92,018 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $278,335,744 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,955,953 |
| Pension plan accruals and contributions | $3,961,022 |
| Other employee benefits | $10,293,568 |
| Payroll taxes | $7,963,981 |
| Fees for services: Management | $63,749,562 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,133,355 |
| Advertising and promotion | $0 |
| Office expenses | $103,139 |
| Information technology | $29,738 |
| Royalties | $0 |
| Occupancy | $1,505,526 |
| Travel | $355,803 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $800,306 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $661,291 |
| Insurance | $10,454,216 |
| All other expenses | $449,418 |
| Total functional expenses | $278,335,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,913,288 |
| 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 | $446,967 |
| Net Land, buildings, and equipment | $984,703 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $208,029,525 |
| Total assets | $222,374,483 |
| Accounts payable and accrued expenses | $17,457,504 |
| Grants payable | $0 |
| Deferred revenue | $432,427 |
| 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 | $190,316,106 |
| Total liabilities | $208,206,037 |
| Net assets without donor restrictions | $14,168,446 |
| 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 | $222,374,483 |