Form 990 for tax year 2023

Totals

Total revenue

$1,153,072,946

Total expenses

$1,035,353,094

Contributions and grants received

$54,733,663

Grants paid

$127,498,284

Program service revenue

$1,055,445,485

Investment income

$9,641,569

Other revenue

$33,252,229

Total assets, end of year

$2,368,786,881

Total liabilities, end of year

$711,098,872

Net assets or fund balances, end of year

$1,657,688,009

Program services expenses (Part IX)

$784,330,283

Management and general expenses

$251,022,811

Fundraising expenses

$0

Program service expenses (Part III)

$784,330,283

Program services were 75.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2023

• THE VALLEY HOSPITAL IN PARAMUS, NEW JERSEY IS A FULLY ACCREDITED, ACUTE CARE, NOT-FOR-PROFIT HOSPITAL SERVING MORE THAN 440,000 PEOPLE IN 32 TOWNS IN BERGEN COUNTY AND ADJOINING COMMUNITIES. THE VALLEY HOSPITAL IS PART OF VALLEY HEALTH SYSTEM, A REGIONAL HEALTHCARE SYSTEM THAT SERVES RESIDENTS IN NORTHERN NEW JERSEY AND SOUTHERN NEW YORK. IT COMPRISES THE VALLEY HOSPITAL, VALLEY HOME CARE, AND VALLEY MEDICAL GROUP. AS A NOT-FOR-PROFIT HOSPITAL, VALLEY IS COMMITTED TO GIVING BACK TO THE COMMUNITY. VALLEY SERVES THE COMMUNITY BY PROVIDING THOUSANDS OF HOURS OF HEALTHCARE EDUCATION AND SCREENINGS, SUPPORT GROUPS AND CLASSES TO ASSIST THOSE IN NEED, AND CARE TO ALL THOSE WHO COME THROUGH OUR DOORS, REGARDLESS OF THEIR ABILITY TO PAY. VALLEY'S LICENSED CAPACITY IS 2023 WAS 431 BEDS.BERGEN COUNTY IS THE MOST POPULOUS COUNTY IN NEW JERSEY AND ONE OF THE WEALTHIEST COUNTIES IN THE UNITED STATES. THERE ARE 952,997 RESIDENTS IN THE 233.01 SQUARE MILES OF BERGEN COUNTY, NJ. THE POPULATION IS 52.7% WHITE AND NON-HISPANIC, 22.7% HISPANIC, 7.8% BLACK, AND 17.6% ASIAN. SEVEN PERCENT OF THE POPULATION IS NOT PROFICIENT IN ENGLISH. THE CHILD POVERTY RATE IS 8% AND 17% OF STUDENTS ARE ELIGIBLE FOR FREE OR REDUCED-PRICE LUNCH. THE MEDIAN HOUSEHOLD INCOME IS $113,900. RESIDENTS ARE GENERALLY WELL-EDUCATED AND HAVE HIGHER GRADUATION RATES THAN NJ AS A WHOLE AND THE U.S. AS A WHOLE. BERGEN COUNTY FARES BETTER THAN THE AVERAGE COUNTY IN NEW JERSEY FOR HEALTH OUTCOMES. THE VALLEY HOSPITAL EMPLOYS PEOPLE WHO REPRESENT AND LIVE IN THE COMMUNITIES WE SERVE. MORE THAN 3,600 EMPLOYEES CONSTITUTE THE VALLEY HOSPITAL.VALLEY PARTICIPATES IN A COMMUNITY HEALTH NEEDS ASSESSMENT EVERY THREE YEARS. THIS ASSESSMENT IS PART OF A REGIONAL PROJECT CONDUCTED BY PROFESSIONAL RESEARCH CONSULTANTS, INC. (PRC) FOR THE COMMUNITY HEALTH IMPROVEMENT PARTNERSHIP (CHIP) OF BERGEN COUNTY. THE ASSESSMENT INCORPORATES DATA FROM MULTIPLE SOURCES, INCLUDING PRIMARY RESEARCH (THROUGH THE PRC COMMUNITY HEALTH SURVEY AND PRC ONLINE KEY INFORMANT SURVEY), AS WELL AS SECONDARY RESEARCH (VITAL STATISTICS AND OTHER EXISTING HEALTH-RELATED DATA). IT ALSO ALLOWS FOR TRENDING AND COMPARISON TO BENCHMARK DATA AT THE STATE AND NATIONAL LEVELS.IN 2023, 55,543 INDIVIDUALS WERE ADMITTED TO VALLEY, 73,171 PEOPLE WERE TREATED IN THE EMERGENCY DEPARTMENT, AND 3,602 BABIES WERE BORN. VALLEY'S KEY SERVICES INCLUDE CARDIOLOGY, ONCOLOGY, WOMEN'S AND CHILDREN'S SERVICES, EMERGENCY CARE, ORTHOPEDICS, AND NEUROSCIENCES. VALLEY ALSO OFFERS THE SERVICES OF A CENTER FOR MINIMALLY INVASIVE AND ROBOTIC SURGERY, A TOTAL JOINT REPLACEMENT CENTER, A NEUROSCIENCE CENTER, A CENTER FOR BARIATRIC SURGERY AND WEIGHT-LOSS MANAGEMENT, A CENTER FOR SLEEP MEDICINE, THE GAMMA KNIFE CENTER, AND THE KIREKER CENTER FOR CHILD DEVELOPMENT, AMONG OTHERS.VALLEY'S COMMUNITY CARE CLINIC HAD 5,271 VISITS IN 2023. THEY PROVIDE CARE AT NO COST TO THE PATIENTS WHO QUALIFY IN 16 (MEDICAL, NEUROLOGY, GI, GENERAL SURGERY, BREAST SURGERY, RHEUMATOLOGY, OPHTHALMOLOGY, GYN, OB, PEDIATRICS, PULMONARY, CARDIOLOGY, PAIN, DERMATOLOGY, ORTHOPEDICS, AND UROLOGY) SPECIALTY CLINICS. THEY CONTINUE TO PROVIDE CARE TO CHILDREN IN FOSTER CARE IN BERGEN AND PASSAIC COUNTIES THAT REQUIRE COMPLEX MEDICAL AND SUBSPECIALTY CARE. EACH YEAR, VALLEY DINING PREPARES OVER 23,000 MEALS FOR COMMUNITY MEALS, INC., AND FINANCIAL RESOURCES TO SUPPORT HOMEBOUND OLDER ADULTS IN VALLEY'S SERVICE AREA.VALLEY HEALTH SYSTEM HAS BEEN DESIGNATED AS AN LGBTQ+ HEALTHCARE EQUALITY HIGH PERFORMER BY THE HUMAN RIGHTS CAMPAIGN FOUNDATION, THE EDUCATIONAL ARM OF THE NATION'S LARGEST LESBIAN, GAY, BISEXUAL, TRANSGENDER, AND QUEER (LGBTQ+) CIVIL RIGHTS ORGANIZATION. THE HEALTHCARE EQUALITY INDEX STRIVES TO ENSURE LGBTQ+ PEOPLE ARE PROTECTED AND AFFIRMED BY THEIR HEALTHCARE PROVIDERS AND FEEL SAFE SEEKING SERVICES. HEI ACTIVE PARTICIPANTS ARE RECOGNIZED FOR IMPLEMENTING ROBUST, COMPREHENSIVE LGBTQ+ INCLUSIVE POLICIES THAT HOPEFULLY, BECAUSE OF THEIR WORK, BECOME STANDARD PRACTICE.VALLEY WORKS WITH LOCAL PARTNERS TO PROMOTE INCLUSIVITY AND EQUALITY. WHERE VALLEY WAS A SPONSOR, 335 COMMUNITY MEMBERS ATTENDED EDUCATION PROGRAMS ON LGBTQ+ HEALTH AND LOCAL PRIDE CELEBRATIONS. VALLEY'S SOCIAL EQUALITY COUNCIL IS THE RECIPIENT OF THE NEW JERSEY HOSPITAL ASSOCIATION'S (NJHA) 2023 DIVERSITY AND INCLUSION AWARD, FOR ITS WORK IN PROMOTING AN INCLUSIVE, FAIR, AND SUPPORTIVE CULTURE FOR OUR STAFF AND THE COMMUNITIES WE SERVE.FORMED IN 2020 IN THE WAKE OF NATIONWIDE PROTESTS AND DEMONSTRATIONS FOLLOWING THE DEATH OF GEORGE FLOYD, THE SOCIAL EQUALITY COUNCIL HAS TAKEN MANY STEPS TOWARD MAKING VALLEY AN EVEN BETTER PLACE FOR ALL EMPLOYEES, DOCTORS, AND MEMBERS OF OUR COMMUNITY. AMONG ITS ACCOMPLISHMENTS ARE THE CREATION OF THE CAREER DEVELOPMENT PROGRAM; INCREASED MINORITY REPRESENTATION IN MANAGEMENT AND PROMOTIONAL OPPORTUNITIES; AND ENHANCED UTILIZATION OF DIVERSE, MINORITY-LED VENDORS AND SUPPLIERS.VALLEY HEALTH SYSTEM'S CHAIR OF WOMEN'S SERVICES PRESENTED AT THE CONGRESSIONAL BLACK CAUCUS FOUNDATION'S ANNUAL LEGISLATIVE CONFERENCE ABOUT REDUCING BLACK MATERNAL MORTALITY. VALLEY CONTINUES TO PARTNER WITH BERGEN COMMUNITY COLLEGE TO DISCUSS HEALTH INEQUITIES AND HEALTH NEEDS OF THE BIPOC COMMUNITY. A PANEL DISCUSSION FEATURING FAMILY MEMBERS OF HENRIETTA LACKS WELCOMED OVER 200 PARTICIPANTS. THE DISCUSSION NOT ONLY FOCUSED ON THE STORY OF HENRIETTA LACKS, BUT ALSO COVERED TOPICS SUCH AS INFORMED CONSENT AND THE CONTRIBUTIONS OF HELA CELLS ON MODERN MEDICINE.THE BOYS & GIRLS CLUBS OF PASSAIC, PATERSON AND CLIFTON PARTICIPATED IN THREE CAREER EVENTS LEARNING ABOUT EMERGENCY MEDICAL SERVICES, CARDIAC PROCEDURES, AND HEALTHCARE CAREERS. FORTY-THREE HIGH SCHOOL SENIORS PARTICIPATED IN VALLEY'S CAREER FRONTIERS HIGH SCHOOL WORKFORCE DEVELOPMENT PROGRAM DURING THEIR SCHOOL YEAR, REPRESENTING 13 DIFFERENT SCHOOLS THROUGHOUT BERGEN AND PASSAIC COUNTIES. "CAREER FRONTIERS" HIGH SCHOOL INTERNSHIP PROGRAM PROVIDES HS SENIOR INTERNS THE OPPORTUNITY TO LEARN THROUGH SERVICE. STUDENTS INTERESTED IN A HEALTHCARE CAREER LEARN THROUGH OBSERVATION AND EXPERIENCE TO SUPPORT THEIR CAREER READINESS. INTERNS SERVE PATIENTS, FAMILIES, AND STAFF WITH ADDED EXPERIENCES THAT MAY INCLUDE ASSISTING WITH DEPARTMENT PROJECTS, OBSERVING PATIENT CARE OR PROCEDURES, ATTENDING MEETINGS, ESTABLISHING MEANINGFUL CONNECTIONS WITH PATIENTS, THEIR FAMILIES, VISITORS, AND INTERACTING WITH A VARIETY OF DIVERSE HEALTHCARE PROFESSIONALS. STUDENTS ARE REQUIRED TO COMPLETE WEEKLY REFLECTION JOURNALS AND ATTEND IN DEPTH DEPARTMENT TOURS AND SPECIAL HEALTHCARE CAREER EDUCATION EVENTS. TWENTY-FOUR STUDENTS THE PATERSON STEAM HIGH SCHOOL RECEIVED HEARTSAVER & AED TRAINING CERTIFICATION.THE RIDGEWOOD ACADEMY FOR HEALTH PROFESSIONS (RAHP) IS A PARTNERSHIP BETWEEN VALLEY, RIDGEWOOD HIGH SCHOOL, AND BERGEN COMMUNITY COLLEGE. THIS THREE-YEAR PROGRAM BEGAN IN 2005 AND HAS GRADUATED OVER 500 STUDENTS INTERESTED IN PURSUING CAREERS IN HEALTHCARE. DURING THE STUDENT'S FIRST YEAR, TERMED THEIR "EXPLORATION YEAR," STUDENTS VISIT THREE FULL-DAY SESSIONS LEARNING ABOUT DIFFERENT DEPARTMENTS IN THE HEALTHCARE SETTING. THE SECOND YEAR CONCENTRATES ON AREAS OF INTEREST THE STUDENTS WOULD LIKE TO FURTHER INVESTIGATE. DURING THE STUDENT'S THIRD YEAR, TERMED THEIR "MENTORSHIP YEAR," STUDENTS CHOOSE ONE HEALTH-RELATED ISSUE TO EXPLORE UNDER THE GUIDANCE OF A MENTOR AND PREPARE A CAPSTONE PROJECT. VALLEY HAS ALREADY HIRED THREE NURSES, TWO SOCIAL WORKERS, AN IMAGING TECH, A PHYSICIAN, AND AN ADMINISTRATOR WHO ARE ALL GRADUATES OF RAHP.PARTICIPATION IN COMMUNITY EDUCATION CLASSES HAVE GROWN EXPONENTIALLY THROUGH THE USE OF VIRTUAL EDUCATION TOOLS AND SOCIAL MEDIA. IN 2023, 14,803 PEOPLE ATTENDED FREE, IN-PERSON SCREENINGS, EXERCISE PROGRAMS, AND EDUCATION EVENTS. AN ADDITIONAL 167,000 PEOPLE VIEWED VIRTUAL EDUCATION, PODCASTS, WRITTEN EDUCATION, AND SOCIAL MEDIA. IN 2023, A TOTAL OF 181,877 LEARNED ABOUT GOOD HEALTH FROM VALLEY'S COMMUNITY HEALTH DEPARTMENT. WHEN ASKED, 93.4% OF PARTICIPANTS SHARED THAT THEY INCREASED THEIR KNOWLEDGE AS A RESULT OF ATTENDING ONE OF OUR PROGRAMS. AND 85.5% SAID THEY INTEND TO MAKE LIFESTYLE CHANGES AS A RESULT OF WHAT THEY LEARNED.PARTICIPANTS IN VALLEY'S FREE WALKING PROGRAMS WALKED 650 MILES IN 2023. NUTRITION PROGRAMS WERE ATTENDED BY 3,540, COVERING TOPICS SUCH FAD DIETS, NUTRITION TRENDS, NEW YEAR EATING HABITS, NUTRITION JEOPARDY, PLANT-BASED EATING, AND NUTRITION AND DIABETES.

  Expenses $784,330,283 · Grants $127,498,284 · Revenue $1,055,445,485

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

• VALLEY PHYSICIAN SERVICES INC

  $126,871,032

  GENERAL SUPPORT

• VALLEY HEALTH SYSTEM

  $339,362

  GENERAL SUPPORT

• BERGEN VOLUNTEER MEDICAL INITIATIVE

  $30,000

  GENERAL SUPPORT

• AMERICAN RED CROSS

  $25,000

  GENERAL SUPPORT

• PONY POWER THERAPIES INC

  $21,150

  GENERAL SUPPORT

• BERGEN PERFORMING ARTS CENTER INC

  $20,000

  GENERAL SUPPORT

• BOROUGH OF PARAMUS

  $20,000

  GENERAL SUPPORT

• BOYS & GIRLS CLUB OF PATERSON

  $20,000

  GENERAL SUPPORT

• CHILDREN'S AID & FAMILY SERVICES INC

  $15,000

  GENERAL SUPPORT

• AMERICAN HEART ASSOCIATION

  $15,000

  GENERAL SUPPORT

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• THE VALLEY HOSPITAL FOUNDATION INC

  501(C)(3) · SOLICITS AND RECEIVES CONTRIBUTIONS FOR THE BENEFIT OF HEALTH SYSTEM · NJ

  Directly controlled by VALLEY HEALTH SYSTEM INC

• VALLEY HEALTH SYSTEM INC

  501(C)(3) · PROVIDES MANAGEMENT & PLANNING SERVICES FOR ITS MEMBERS · NJ

• VALLEY HOME CARE INC

  501(C)(3) · PROVIDES REHABILITATION VISITS AND HOME HEALTH AIDS VISITS TO PATIENTS · NJ

  Directly controlled by VALLEY HEALTH SYSTEM INC

• VALLEY PHYSICIAN SERVICE NY PC

  501(C)(3) · OPERATES URGENT/PRIMARY CARE CLINICS · NJ

  Directly controlled by VALLEY PHYSICIAN SERVICES INC

• VALLEY PHYSICIAN SERVICES INC

  501(C)(3) · PROVIDES MEDICAL CARE TO CARRYOUT THE PURPOSE OF THE VALLEY HEALTH SYSTEM · NJ · controlled entity

  Directly controlled by THE VALLEY HOSPITAL INC

• VALLEY PHYSICIANS SERVICES PC

  501(C)(3) · PROVIDE PRIMARY AND SPECIALTY MEDICAL CARE · NJ

  Directly controlled by VALLEY PHYSICIAN SERVICES INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Provenance

Return type

form_990

Tax year

2023

Filed

4 November 2024

IRS schema version

2023v5.1

Source object

202433099349303113

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.