Somc Medical Group Pc
- Assets
- $2.8m
- Revenue
- $21.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Edison, NJ
- Founding
- 11/2010
- Data as of
- 12/2021
- EIN
- 27-1412183
Organization Overview
Somc Medical Group Pc is located in Edison, NJ. The organization was established in 2010. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somc Medical Group 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, Somc Medical Group Pc generated $21.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $21.1m during the year ending 12/2021. While expenses have increased by 14.8% 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
THE CORPORATION WILL FURTHER THE CHARITABLE AND HEALTHCARE PURPOSES OF HACKENSACK MERIDIAN HEALTH, INC. AND ITS INTERNAL REVENUE CODE 501(C)(3) TAX-EXEMPT AFFILIATES.
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. ACCORDINGLY, THE CORPORATION IS AN INTEGRAL PART OF HACKENSACK MERIDIAN HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth N Sable MD Vice President & Secretary | OfficerTrustee | 2.5 | $0 |
James Clarke MD President & Treasurer | OfficerTrustee | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ocean County Family Care Pa Medical | 12/30/17 | $4,466,140 |
Ocean Medical Billing Serv Llc Medical | 12/30/17 | $456,210 |
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 | $21,081,320 |
| Investment income | $230 |
| 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 | $21,081,550 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,254,680 |
| 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 | $14,377,229 |
| 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 | $21,081,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,502,347 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,300,469 |
| Total assets | $2,802,816 |
| Accounts payable and accrued expenses | $4,477,016 |
| 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 | $0 |
| Total liabilities | $4,477,016 |
| Net assets without donor restrictions | -$1,674,200 |
| 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 | $2,802,816 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Somc Medical Group Pc has recieved totaling $1,346,463.
| Awarding Organization | Amount |
|---|---|
Hackensack Meridian Health Inc Edison, NJ PURPOSE: SUBSIDY | $1,346,463 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Albert Einstein Healthcare Network Norristown, PA | $7,839,790 | $39,526,659 |
Academic Medicine Services Inc Amherst, NY | $13,449,740 | $46,145,494 |
University Of Buffalo Pediatric Associates P C Buffalo, NY | $15,840,260 | $40,658,673 |
Radiology Associates Of Childrens Hospital Inc Philadelphia, PA | $46,682,181 | $35,756,530 |
University Physician Associates Of New Jersey Inc Oceanport, NJ | $81,309,216 | $28,931,632 |
Adirondack Health Institute Inc Glens Falls, NY | $33,135,931 | $28,558,628 |
Lenox Hill Hospital Medical Pc Westbury, NY | $7,028,959 | $23,639,356 |
Schuylkill Health System Medical Group Inc Allentown, PA | $12,517,828 | $15,274,825 |
University Neurology Inc Buffalo, NY | $5,475,460 | $21,710,139 |
Peconic Cardiology Pc Westbury, NY | $6,698,322 | $17,198,539 |
Somc Medical Group Pc Edison, NJ | $2,802,816 | $21,081,550 |
Central Jersey Behavioral Health Associates Inc Oceanport, NJ | $4,455,141 | $15,257,783 |