Atlantic Health System Inc
- Assets
- $169.5m
- Revenue
- $9.5m
- Investments
- $330.6k
- Employees
- 0
- Location
- Morristown, NJ
- Founding
- 09/2006
- Data as of
- 12/2023
- EIN
- 22-3380375
Organization Overview
Atlantic Health System Inc is located in Morristown, NJ. The organization was established in 2006. 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 parent organization of an affiliated group for tax-exemption purposes. Atlantic 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 12/2023, Atlantic Health System Inc generated $9.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $7.0m during the year ending 12/2023. While expenses have increased by 6.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
REFER TO SCHEDULE OESTABLISH, MAINTAIN, SPONSOR, AND PROMOTE ACTIVITIES RELATING TO THE IMPROVEMENT OF HUMAN HEALTH AND THE PROVISION OF CARE TO THE SICK OR INJURED THROUGH ITS WHOLLY OWNED SUBSIDIARY, AHS HOSPITAL CORP. VIA THE PROCESSING OF CLINICAL RESEARCH TRIALS. THE SYSTEM PROVIDES THE HOSPITAL CORP AND SUBSIDIARIES WITH GENERAL AND PROFESSIONAL LIABILITY COVERAGE UNDER A SELF-INSURANCE PLAN AND THROUGH AN AFFILIATED ENTITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES FOR THE COLLECTION OF CLINICAL TRIAL RECEIPTS WHICH REPRESENT THE REIMBURSEMENT FOR THE RELATED EXPENSES WITH CONTRACTED EXTERNAL PHARMACEUTICAL COMPANIES AND UNIVERSITIES. THESE CLINICAL TRIALS PROMOTE THE IMPROVEMENT OF HUMAN HEALTH AND THE PROVISION OF CARE TO THE SICK AND/OR INJURED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Gragnolati President & CEO | OfficerTrustee | 2 | $0 |
Christopher R Reidy Trustee-Ahs | Trustee | 2 | $0 |
Samanatha Pozner Trustee-Ahs | Trustee | 2 | $0 |
Grant Parr MD Trustee-Ahs | Trustee | 2 | $0 |
John F Vigorita MD Trustee-Ahs | Trustee | 2 | $0 |
Laura Ann Kelly-Vice Chair Trustee-Ahs | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,949,426 |
| Investment income | $944,800 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,524,927 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,901,389 |
| 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 | $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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,015,883 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,920,599 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $330,603 |
| Investments—program-related | $119,063,360 |
| Intangible assets | $0 |
| Other assets | $8,148,084 |
| Total assets | $169,462,646 |
| Accounts payable and accrued expenses | $2,545,253 |
| 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 | $45,855,067 |
| Total liabilities | $48,400,320 |
| Net assets without donor restrictions | $121,062,326 |
| 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 | $169,462,646 |