Atlanticare Health System Inc
- Assets
- $1.7b
- Revenue
- $927.4m
- Investments
- $0.0
- Employees
- 6,400
- Location
- Egg Harbor Township, NJ
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 90-0779828
Organization Overview
Atlanticare Health System Inc is located in Egg Harbor Township, NJ. The organization was established in 2011. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2022, Atlanticare Health System Inc employed 6,400 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Atlanticare 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, Atlanticare Health System Inc generated $927.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $878.5m during the year ending 12/2022. While expenses have increased by 2.5% 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.
Since 2014, Atlanticare Health System Inc has awarded 59 individual grants totaling $33,426,223. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS ARE COMMITTED TO IMPROVING THE HEALTH AND WELL-BEING OF THE RESIDENTS OF NJ BY PROVIDING QUALITY, PATIENT-CENTERED HEALTHCARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING INPATIENT, OUTPATIENT, EMERGENCY AND VARIOUS OTHER MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY AND IN FURTHERANCE OF CHARITABLE TAX-EXEMPT PURPOSES. PLEASE REFER TO THE COMMUNITY BENEFIT STATEMENT IN SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori S Herndon Trustee - Ahs President/ceo | OfficerTrustee | 55 | $0 |
Blair A Bergen MD Trustee | Trustee | 55 | $0 |
Marilouise Venditti MD Svp, Chief Medical Officer | Officer | 55 | $0 |
Hak J Kim Trustee - Treasurer/svp & CFO | OfficerTrustee | 55 | $0 |
Mohammadyaser Mourad MD Chief Medical Quality Officer | 55 | $551,210 | |
Donna Michael-Ziereis ESQ VP General Counsel/secretary | Officer | 55 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Atlanticare Health System Inc Management | 12/30/22 | $73,472,164 |
P Agnes Inc Construction | 12/30/22 | $37,069,429 |
Medline Medical | 12/30/22 | $16,038,901 |
Symmetry Workforce Solutions Llc Staffing | 12/30/22 | $8,478,728 |
Laboratory Corp Of America Lab | 12/30/22 | $6,690,674 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $453,206 |
| Related organizations | $505,000 |
| Government grants | $35,839,797 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,706,473 |
| Noncash contributions included in lines 1a–1f | $17,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,504,476 |
| Total Program Service Revenue | $870,545,264 |
| Investment income | $7,928,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,587,900 |
| Net Gain/Loss on Asset Sales | -$224,739 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $26,560 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $927,367,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $557,267 |
| 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. | $4,280,881 |
| Compensation of current officers, directors, key employees. | $428,088 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $283,168,866 |
| Pension plan accruals and contributions | $11,257,011 |
| Other employee benefits | $61,176,838 |
| Payroll taxes | $21,887,629 |
| Fees for services: Management | $73,472,164 |
| Fees for services: Legal | $29,525 |
| Fees for services: Accounting | $791,488 |
| Fees for services: Lobbying | $3,000 |
| Fees for services: Fundraising | $46,579 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,069,009 |
| Advertising and promotion | $443,635 |
| Office expenses | $10,529,712 |
| Information technology | $1,743,438 |
| Royalties | $0 |
| Occupancy | $14,795,636 |
| Travel | $1,833,572 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $657,287 |
| Interest | $8,508,312 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,093,154 |
| Insurance | $8,912,904 |
| All other expenses | $6,548,838 |
| Total functional expenses | $878,514,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,631,056 |
| Savings and temporary cash investments | $2,614,256 |
| Pledges and grants receivable | $2,269,689 |
| Accounts receivable, net | $145,523,125 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,840,422 |
| Prepaid expenses and deferred charges | $17,429,725 |
| Net Land, buildings, and equipment | $511,447,667 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $896,071,354 |
| Intangible assets | $28,856,429 |
| Other assets | $72,082,773 |
| Total assets | $1,711,766,496 |
| Accounts payable and accrued expenses | $133,771,079 |
| Grants payable | $0 |
| Deferred revenue | $14,834 |
| Tax-exempt bond liabilities | $238,990,184 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,786,063 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $116,142,032 |
| Total liabilities | $496,704,192 |
| Net assets without donor restrictions | $1,187,877,155 |
| Net assets with donor restrictions | $27,185,149 |
| 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 | $1,711,766,496 |
Grants Awarded
Over the last fiscal year, Atlanticare Health System Inc has awarded $544,417 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S HEALTHCARE CHARITY PURPOSE: PROGRAM SUPPORT | $11,000 |
JEWISH FAMILY SERVICES PURPOSE: PROGRAM SUPPORT | $20,417 |
ATLANTICARE FOUNDATION PURPOSE: PROGRAM SUPPORT | $500,000 |
RISE UP AC PURPOSE: PROGRAM SUPPORT | $13,000 |