Skip to content
Nonprofiteer
← PALISADES MEDICAL ASSOCIATES LLC

Form 990 for tax year 2022

Filed by PALISADES MEDICAL ASSOCIATES LLC.

Totals

Total revenue
$20,140,744
Total expenses
$20,140,744
Contributions and grants received
$8,034,034
Grants paid
$0
Program service revenue
$12,122,160
Investment income
-$15,450
Other revenue
$0
Total assets, end of year
$40,366,215
Total liabilities, end of year
$2,889,181
Net assets or fund balances, end of year
$37,477,034
Program services expenses (Part IX)
$19,272,600
Management and general expenses
$868,144
Fundraising expenses
$0
Program service expenses (Part III)
$19,272,600

Program services were 95.7% 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.

  • 1d · Related organizations

    $8,033,534

  • 1e · Government grants (contributions)

    $500

  • 2a · Program service revenue: NET PATIENT SERVICE REVENUE

    total $12,059,464 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: OTHER HEALTH CARE RELATED REVENUE

    total $62,696 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $817 · unrelated business $0 · excluded $817

  • 7a · Gross sales of assets other than inventory

    securities $980

  • 7b · Less cost or other basis and sales expenses

    securities $17,247

  • 7c · Gain or loss

    securities -$16,267

  • 7d · Net gain or loss

    total -$16,267 · related or exempt $0 · unrelated business $0 · excluded -$16,267

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $11,050,946 · program services $11,050,946 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $202,265 · program services $202,265 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $488,774 · program services $488,774 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $392,614 · program services $392,614 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $5,787,627 · program services $4,919,483 · management and general $868,144 · fundraising $0

  • 11g · Fees: other

    total $616,385 · program services $616,385 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $22,256 · program services $22,256 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $699,051 · program services $699,051 · management and general $0 · fundraising $0

  • 17 · Travel

    total $35,966 · program services $35,966 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $45,275 · program services $45,275 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $161,507 · program services $161,507 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $438,038 · program services $438,038 · management and general $0 · fundraising $0

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $199,547 · program services $199,547 · management and general $0 · fundraising $0

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $493 · program services $493 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $965,491 · end of year $1,229,899

  • 4 · Accounts receivable

    beginning of year $990,995 · end of year $1,118,828

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $133,333

  • 10a · Land, buildings and equipment: cost or other basis

    $4,006,868

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,771,356

  • 10c · Land, buildings and equipment, net

    beginning of year $1,685,535 · end of year $1,235,512

  • 13 · Investments: program-related

    beginning of year $17,247 · end of year $0

  • 15 · Other assets

    beginning of year $18,748,377 · end of year $36,648,643

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,669,036 · end of year $2,110,921

  • 25 · Other liabilities

    beginning of year $1,060,579 · end of year $778,260

  • 27 · Net assets without donor restrictions

    beginning of year $18,678,030 · end of year $37,477,034

Mission and programs · 2022

Mission

THE COMPANY IS OPERATED EXCLUSIVELY FOR THE SOLE PURPOSE OF SUPPORTING AND FURTHERING THE CHARITBLE PURPOSE OF PROVIDING MEDICAL SERVICES TO THE PATIENTS OF HMH HOSPTIALS CORPORATION.

  • PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES DIRECTLY TO PATIENTS THROUGH THE PHYSICIANS EMPLOYED BY THE CORPORATION. ALSO, PROVIDING ADMINISTRATIVE, SUPERVISORY, TEACHING, COVERAGE AND RESEARCH SERVICES TO HMH HOSPITALS CORPORATION; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, IN FURTHERANCE OF ITS PRIMARY TAX-EXEMPT PURPOSE IN PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, RELIGION OR ABILITY TO PAY. ACCORDINGLY, THE CORPORATION IS AN INTEGRAL PART OF HACKENSACK MERIDIAN HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK.

    Expenses $19,209,904 · Revenue $12,059,464

  • PROMOTE A CLINICALLY INTEGRATED NETWORK OF HEALTH CARE PROVIDERS WITH THE GOAL OF IMPROVING HEALTH OUTCOMES, REDUCING HEALTH CARE COSTS, AND ENHANCING PATIENT EXPERIENCE.

    Expenses $62,696 · Revenue $62,696

As filed on the 2022 return.

Listed in Part VII

  • David T Chang

    PHYSICIAN

    Total calculated
    $1,436,200
    From this org
    $1,393,553
    From related orgs
    $0
    Other
    $42,647
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,375,798
    Bonus
    $15,000
    Other
    $2,755
    Deferred
    $15,250
    Nontaxable benefits
    $27,397
    Filer's total
    $1,436,200

  • Mark Gabelman MD

    MEDICAL DIRECTOR

    Total calculated
    $970,791
    From this org
    $929,290
    From related orgs
    $0
    Other
    $41,501
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $885,129
    Bonus
    $0
    Other
    $44,161
    Deferred
    $15,250
    Nontaxable benefits
    $26,251
    Filer's total
    $970,791

  • Anthony J Passannante Jr MD

    PRESIDENT - TRUSTEE

    Total calculated
    $943,145
    From this org
    $0
    From related orgs
    $908,077
    Other
    $35,068
    Hours/week
    3

    Schedule J breakdown matched by us

    Base
    $0 + $539,764 related
    Bonus
    $0 + $213,447 related
    Other
    $0 + $154,867 related
    Deferred
    $0 + $8,054 related
    Nontaxable benefits
    $0 + $27,013 related
    Filer's total
    $0 + $943,145 related

  • Aida Capo MD

    PHYSICIAN

    Total calculated
    $751,203
    From this org
    $684,928
    From related orgs
    $15,000
    Other
    $51,275
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $659,699 + $15,000 related
    Bonus
    $15,000
    Other
    $10,229
    Deferred
    $15,250
    Nontaxable benefits
    $36,025
    Filer's total
    $736,203 + $15,000 related

  • Maria Capo

    PHYSICIAN

    Total calculated
    $581,912
    From this org
    $530,928
    From related orgs
    $0
    Other
    $50,984
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $506,554
    Bonus
    $15,000
    Other
    $9,374
    Deferred
    $15,250
    Nontaxable benefits
    $35,734
    Filer's total
    $581,912

  • Sonal Pathak

    PHYSICIAN

    Total calculated
    $466,748
    From this org
    $452,307
    From related orgs
    $0
    Other
    $14,441
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $397,300
    Bonus
    $53,333
    Other
    $1,674
    Deferred
    $13,674
    Nontaxable benefits
    $767
    Filer's total
    $466,748

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)

Pt I Line 3
PLEASE REFER TO OUR RESPONSE TO CORE FORM, PART VI, QUESTION 15A INCLUDED IN SCHEDULE O.
Pt I Line 4b
THE AMOUNT REFLECTED IN COLUMN B(III) FOR THE FOLLOWING INDIVIDUAL(S) INCLUDES PARTICIPATION IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") AS THE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. THE AMOUNTS OUTLINED HEREIN WERE INCLUDED IN EACH INDIVIDUAL'S 2022 FORM W-2 AS TAXABLE WAGES: ANTHONY PASSANNANTE, $94,899.

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

No itemized grants to organizations on this return.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HUMCUSPI SURGERY CENTERS LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • OLD BRIDGE MEDICAL ASSOCIATES LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • COASTAL CO-OP OF NJ

    PURCHASING · NJ · 0% owned

    Directly controlled by NA

  • MERIDIAN HEALTH VILLAGE REALTY ASSOC

    REAL ESTATE · NJ · 0% owned

    Directly controlled by NA

  • HACKENSACK MERIDIAN LIVING AT HOLMDEL LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • ESSEX RESIDENTIAL CARE LLC

    0% owned

  • BERGEN POST ACUTE LLC

    0% owned

  • HACKENSACK MUSCULOSKELETAL SURGERY CENTER LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • TOTOWA CANCER CENTER LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • HMH URGENT CARE MANAGEMENT I LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • HMH URGENT CARE MANAGEMENT II LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • HMH URGENT CARE MANAGEMENT III LLC

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • MERIDIAN AT STAFFORD

    HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HACKENSACK MERIDIAN HEALTH VENTURES INC

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • PALISADES CHILD CARE CENTER INC

    C · DAY CARE CENTER · NJ · 0% owned

    Directly controlled by NA

  • RARITAN INSURANCE LTD

    C · FINANCIAL VEHICLE · CJ · 0% owned

    Directly controlled by NA

  • OAPCA INC

    C · CONDO ASSOC · NJ · 0% owned

    Directly controlled by NA

  • JFK MEDICAL GROUP PC

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • JFK AMBULATORY CARE PA

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • HMH CASUALTY COMPANY LTD

    C · FINANCIAL VEHICLE · BD · 0% owned

    Directly controlled by NA

  • NEPHROLOGY ASSOCIATES PA

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • MERIDIAN CARDIOVASCULAR INTERPRETIVE SERVICES PC

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • HACKENSACK OCCUPATIONAL MEDICINE ASSOCIATES PC

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • NEW AMSTERDAM MEDICAL ASSOCIATE PC

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

  • HACKENSACK MERIDIAN URGENT CARE PC

    C · HEALTH SVCS · NJ · 0% owned

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343179349302769

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.