Totals
- Total revenue
- $12,118,940
- Total expenses
- $16,577,304
- Contributions and grants received
- $11,084,206
- Grants paid
- $13,186,608
- Program service revenue
- $0
- Investment income
- $1,032,413
- Other revenue
- $2,321
- Total assets, end of year
- $53,391,795
- Total liabilities, end of year
- $2,031,305
- Net assets or fund balances, end of year
- $51,360,490
- Program services expenses (Part IX)
- $13,186,608
- Management and general expenses
- $375,535
- Fundraising expenses
- $3,015,161
- Program service expenses (Part III)
- $13,186,608
Program services were 79.5% 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.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$116,613
-
1f · All other contributions, gifts and grants
$10,967,593
-
1g · Noncash contributions included above
$670,631
-
3 · Investment income
total $888,079 · excluded $888,079
-
7a · Gross sales of assets other than inventory
securities $4,517,499
-
7b · Less cost or other basis and sales expenses
securities $4,373,165
-
7c · Gain or loss
securities $144,334
-
7d · Net gain or loss
total $144,334 · excluded $144,334
-
8a · Fundraising events: gross income
$17,724
-
8a · Fundraising events: contributions included on line 1c
$116,613
-
8b · Fundraising events: direct expenses
$30,836
-
8c · Net income from fundraising events
total -$13,112 · excluded -$13,112
-
9a · Gaming: gross income
$17,308
-
9b · Gaming: direct expenses
$1,875
-
9c · Net income from gaming
total $15,433 · excluded $15,433
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $13,186,608 · program services $13,186,608
-
11b · Fees: legal
total $2,875 · management and general $2,875
-
11c · Fees: accounting
total $16,400 · management and general $16,400
-
11e · Fees: professional fundraising services
total $130,889 · fundraising $130,889
-
11f · Fees: investment management
total $13,405 · management and general $13,405
-
11g · Fees: other
total $98,864 · fundraising $98,864
-
13 · Office expenses
total $134,238 · management and general $101,225 · fundraising $33,013
-
14 · Information technology
total $151,912 · fundraising $151,912
-
17 · Travel
total $3,562 · fundraising $3,562
-
19 · Conferences, conventions and meetings
total $1,997 · fundraising $1,997
-
24a · Other expenses: REIMBURSED COMPENSATION
total $2,563,007 · management and general $241,630 · fundraising $2,321,377
-
24b · Other expenses: PROGRAM & SPECIAL EVENT
total $273,547 · fundraising $273,547
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $699,047 · end of year $577,026
-
2 · Savings and temporary cash investments
beginning of year $2,479,419 · end of year $1,493,621
-
3 · Pledges and grants receivable
beginning of year $19,220,052 · end of year $14,312,782
-
11 · Investments: publicly traded securities
beginning of year $40,105,385 · end of year $37,008,366
-
17 · Accounts payable and accrued expenses
beginning of year $14,702 · end of year $17,260
-
25 · Other liabilities
beginning of year $1,933,153 · end of year $2,014,045
-
27 · Net assets without donor restrictions
beginning of year $11,898,337 · end of year $9,762,280
-
28 · Net assets with donor restrictions
beginning of year $48,657,711 · end of year $41,598,210
Mission and programs · 2022
Mission
THE VALLEY HOSPITAL FOUNDATION IS THE PHILANTHROPIC COMPONENT OF VALLEY HEALTH SYSTEM. IT'S PRIMARY FUNCTION IS TO SECURE CHARITABLE CONTRIBUTIONS FROM INDIVIDUALS, CORPORATIONS, FOUNDATIONS, AND OTHER FUNDING ENTITIES, TO MANAGE THOSE GIFTS, AND TO DISTRIBUTE THEM IN ACCORDANCE WITH ITS CHARTER. CHARITABLE FUNDS RAISED FOR THE HOSPITAL SUPPORT CONSTRUCTION, CAPITAL IMPROVEMENTS, MEDICAL TECHNOLOGY, BIOMEDICAL RESEARCH, EDUCATION, ENDOWMENTS, AND SPECIAL PROJECTS. FUNDS RAISED FOR VALLEY HOME CARE SUPPORT THE PROGRAMS OF THE AGENCY, SUCH AS HOSPICE, JOURNEYS, MATERNAL CHILD HEALTH, AND ENDOWMENTS. FUNDS RAISED FOR VALLEY MEDICAL GROUP SUPPORT PROGRAMS, CAPITAL IMPROVEMENTS, MEDICAL TECHNOLOGY, EDUCATION AND SPECIAL PROJECTS.
Activities or mission (Part I)
TO SOLICIT AND RECEIVE PHILANTHROPIC GIFTS, GRANTS, BEQUESTS FROM DONORS FOR THE PURPOSE OF SUPPORTING THE VALLEY HEALTH SYSTEM.
-
THE FOUNDATION HAS EVALUATED THE NEEDS OF VALLEY HEALTH SYSTEM AND SEEKS TO SECURE FUNDING FOR FOUR DIFFERENT CASES: CONSTRUCTION COSTS FOR THE VALLEY HOSPITAL IN PARAMUS, CAPITAL AND TECHNOLOGICAL IMPROVEMENTS, CLINICAL AND TRANSLATIONAL RESEARCH, AND ENDOWMENTS.VALLEY HEALTH SYSTEM IS 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. KEY SERVICES INCLUDE CARDIOLOGY, ONCOLOGY, WOMEN'S AND CHILDREN'S SERVICES, EMERGENCY CARE, ORTHOPEDICS, AND NEUROSCIENCES. VALLEY HEALTH SYSTEM IS ONE OF THE MOST HONORED HEALTHCARE ORGANIZATIONS IN NEW JERSEY.
Expenses $13,186,608 · Grants $13,186,608
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Victor WortmannVICTOR WORTMANN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
-
Danielle GagliotiDANIELLE GAGLIOTI
VICE CHAIRMAN, THRU 6/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Andrew GattoANDREW GATTO
VICE CHAIRMAN, EFF. 10/10/22
- Total calculated
- $0
- Hours/week
- 0.5
-
Peter C MarronPETER C MARRON
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
-
Edward M RubinEDWARD M RUBIN
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Nancy V BushNANCY V BUSH
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Joshua L AbramsJOSHUA L ABRAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Ephraim Casper MDEPHRAIM CASPER MD
TRUSTEE
- Total calculated
- $1,090,738
- From this org
- $0
- From related orgs
- $1,046,121
- Other
- $44,617
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $850,327 related
- Bonus
- $0 + $140,450 related
- Other
- $0 + $55,344 related
- Deferred
- $0 + $15,250 related
- Nontaxable benefits
- $0 + $29,367 related
- Filer's total
- $0 + $1,090,738 related
-
Daniel P CummingsDANIEL P CUMMINGS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Denise DowneyDENISE DOWNEY
TRUSTEE - EX OFFICIO, THRU 6/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Theodore L HarrisTHEODORE L HARRIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Lynn HolubaLYNN HOLUBA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Karen KeyesKAREN KEYES
TRUSTEE, EFF. 12/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Ralph M MastrangeloRALPH M MASTRANGELO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Audrey MeyersAUDREY MEYERS
TRUSTEE - EX OFFICIO
- Total calculated
- $4,023,611
- From this org
- $0
- From related orgs
- $3,974,039
- Other
- $49,572
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $1,249,299 related
- Bonus
- $0 + $984,960 related
- Other
- $0 + $1,739,780 related
- Deferred
- $0 + $22,875 related
- Nontaxable benefits
- $0 + $26,697 related
- Filer's total
- $0 + $4,023,611 related
-
Surya N MohapatraSURYA N MOHAPATRA
TRUSTEE, EFF. 6/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Lya Pfeifer EsqLYA PFEIFER ESQ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Yolla RahalYOLLA RAHAL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Thomas J Rakowski MDTHOMAS J RAKOWSKI MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Marc SabinoMARC SABINO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Theresa A SalamenoTHERESA A SALAMENO
TRUSTEE - EX OFFICIO, EFF. 6/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeffrey SeidlerJEFFREY SEIDLER
TRUSTEE, EFF. 10/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Ann Marie SnyderANN MARIE SNYDER
TRUSTEE, EFF. 10/2022
- Total calculated
- $0
- Hours/week
- 0.5
-
Robert Van DykROBERT VAN DYK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Chris WraggeCHRIS WRAGGE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
William KlutkowskiWILLIAM KLUTKOWSKI
SR. VP, FINANCE & CFO
- Total calculated
- $1,074,260
- From this org
- $0
- From related orgs
- $1,016,955
- Other
- $57,305
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $627,904 related
- Bonus
- $0 + $192,180 related
- Other
- $0 + $196,871 related
- Deferred
- $0 + $21,138 related
- Nontaxable benefits
- $0 + $36,167 related
- Filer's total
- $0 + $1,074,260 related
-
David J BohanDAVID J BOHAN
VICE PRESIDENT & CDO
- Total calculated
- $621,771
- From this org
- $0
- From related orgs
- $582,103
- Other
- $39,668
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $367,745 related
- Bonus
- $0 + $118,908 related
- Other
- $0 + $95,450 related
- Deferred
- $0 + $15,250 related
- Nontaxable benefits
- $0 + $24,418 related
- Filer's total
- $0 + $621,771 related
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
Answered yes
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL (DAVID BOHAN, VICE PRESIDENT & CDO OF THE VALLEY HEALTH SYSTEM) IS COMPENSATED BY THE VALLEY HEALTH SYSTEM. THE VALLEY HEALTH SYSTEM HAS ESTABLISHED A POLICY FOR COMPENSATION OF OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES. THE POLICY INCLUDES A PERIODIC REVIEW BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, FREE OF ANY MEMBERS WITH CONFLICTS OF INTEREST. THE COMMITTEE DETERMINES APPROPRIATE LEVELS OF COMPENSATION USING COMPARATIVE DATA OF SIMILAR ORGANIZATIONS. COMPENSATION DECISIONS ARE ADEQUATELY AND CONTEMPORANEOUSLY DOCUMENTED. THE PROCESS WAS LAST UNDERTAKEN IN 2022.
- PART I, LINE 4B
- TRUSTEE, AUDREY MEYERS PARTICIPATED IN A 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN OF THE VALLEY HEALTH SYSTEM, A RELATED ORGANIZATION. SHE RECEIVED A PAYMENT IN THE AMOUNT OF $1,583,249 IN 2022, AS INCLUDED ON PART II, COLUMN B(III). SHE ALSO PARTICIPATED IN A CAP-EX (SPLIT-DOLLAR LIFE INSURANCE PLAN) OF THE VALLEY HEALTH SYSTEM, INC. SHE DID NOT RECEIVE A PAYMENT IN 2022.
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
-
$12,503,578
PROJECT/CAPITAL PROJECTS/DONOR-DESIGNATED SPECIAL PROGRAMS AND SERVICES
-
$439,800
DONOR-DESIGNATED SPECIAL PROGRAMS AND SERVICES
-
$243,230
DONOR-DESIGNATED SPECIAL PROGRAMS AND SERVICES
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.
-
501(C)(3) · PROVIDES HEALTHCARE PROGRAMS AND SERVICES TO ALL · NJ
Directly controlled by VALLEY HEALTH SYSTEM INC
-
501(C)(3) · PROVIDES HOME CARE AND HOSPICE SERVICES TO RESIDENTS OF NORTHERN NJ · NJ
Directly controlled by VALLEY HEALTH SYSTEM INC
-
501(C)(3) · PROVIDE PRIMARY AND SPECIALITY MEDICAL CARE · NJ
Directly controlled by THE VALLEY HOSPITAL INC
-
501(C)(3) · PROVIDES MANAGEMENT AND PLANNING SERVICES TO ITS MEMBERS · NJ
-
501(C)(3) · PROVIDE PRIMARY AND SPECIALITY MEDICAL CARE · NJ
Directly controlled by VALLEY PHYSICIANS SERVICES INC
-
501(C)(3) · PROVIDE PRIMARY AND SPECIALITY MEDICAL CARE · NJ
Directly controlled by VALLEY PHYSICIANS SERVICES INC
-
VALLEY PHYSICIAN SERVICE NY PC
501(C)(3) · OPERATES URGENT/PRIMARY CARE CLINICS · NY
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
VHS INSURANCE COMPANY LTD
C · PROVIDES PROFESSIONAL, MEDICAL, AND COMMERCIAL GENERAL LIABILITY INSURANCE · CJ
Directly controlled by VALLEY HEALTH SYSTEM INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 12 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303169349300880
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