Hackensack Meridian Health Medical Group-Specialty Care Pc
- Assets
- $10.6m
- Revenue
- $235.5m
- Investments
- $0.0
- Employees
- 740
- Location
- Edison, NJ
- Founding
- 08/1999
- Data as of
- 12/2021
- 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 12/2021, Hackensack Meridian Health Medical Group-Specialty Care Pc employed 740 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 12/2021, Hackensack Meridian Health Medical Group-Specialty Care Pc generated $235.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $235.5m during the year ending 12/2021. While expenses have increased by 4.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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 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.
PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES DIRECTLY TO PATIENTS THROUGH THE PHYSICIANS EMPLOYED BY THE CORPORATION. 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 Stifelman MD Chair, Urology | 55 | $1,417,019 | |
Michael A Kelly Chair, Orthopedics | 55 | $1,397,500 | |
Francis Patterson Chief, Orthopedic Oncology | 55 | $1,388,688 | |
Abdulla Al-Khan Physician | 55 | $1,235,245 | |
Nabil Rizk Physician | 55 | $1,211,398 | |
Daniel Varga Chief Physician Executive | OfficerTrustee | 0 | $0 |
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 | $208,514 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,514 |
| Total Program Service Revenue | $235,131,054 |
| Investment income | $19,061 |
| 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 | $235,450,647 |
| 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 | $158,976,673 |
| Pension plan accruals and contributions | $3,395,641 |
| Other employee benefits | $7,655,068 |
| Payroll taxes | $6,907,724 |
| Fees for services: Management | $28,037,679 |
| Fees for services: Legal | $2,500 |
| Fees for services: Accounting | $43,837 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,692,810 |
| Advertising and promotion | $13,948 |
| Office expenses | $427,066 |
| Information technology | $238,347 |
| Royalties | $0 |
| Occupancy | $7,803,229 |
| Travel | $121,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $838,858 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,303,780 |
| Insurance | $8,429,971 |
| All other expenses | $1,066,679 |
| Total functional expenses | $235,450,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,559,255 |
| 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 | $99,485 |
| Net Land, buildings, and equipment | $1,137,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $452,361 |
| Other assets | $305,528 |
| Total assets | $10,554,365 |
| Accounts payable and accrued expenses | $13,017,953 |
| Grants payable | $0 |
| Deferred revenue | $50,000 |
| 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 | $85,645,584 |
| Total liabilities | $98,713,537 |
| Net assets without donor restrictions | -$88,159,172 |
| 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 | $10,554,365 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hackensack Meridian Health Medical Group-Specialty Care Pc has recieved totaling $86,722,960.
| Awarding Organization | Amount |
|---|---|
Hackensack Meridian Health Inc Edison, NJ PURPOSE: Subsidy | $86,682,960 |
Foundation Forsurgical Fellowships Los Angeles, CA PURPOSE: General Support | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wellspan Medical Group York, PA | $140,592,269 | $745,783,571 |
St Lukes Physician Group Inc Allentown, PA | $77,606,071 | $634,645,551 |
Lehigh Valley Physician Group Allentown, PA | $433,846,962 | $621,243,367 |
Amida Care Inc New York, NY | $166,110,282 | $443,931,771 |
Chs Physician Partners Pc Roslyn, NY | $61,423,993 | $204,939,316 |
Childrens Health Care Associates Inc Philadelphia, PA | $189,904,169 | $296,151,416 |
New York Queens Medicine And Surgery Pc Flushing, NY | $27,206,982 | $238,033,722 |
Hackensack Meridian Health Medical Group-Specialty Care Pc Edison, NJ | $10,554,365 | $235,450,647 |
Atlanticare Physician Group Pa Egg Harbor Township, NJ | $40,354,647 | $220,923,775 |
Lancaster General Medical Group East Petersburg, PA | $36,228,576 | $121,615,307 |
St Peters Health Partners Medical Associates Pc Albany, NY | $63,947,656 | $143,209,123 |
Rwjbh Medical Group Pc Oceanport, NJ | $74,539,454 | $153,670,080 |