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← HACKENSACK MERIDIAN HEALTH MEDICAL GROUP-SPECIALTY CARE PC

Form 990 for tax year 2023

Filed by HACKENSACK MERIDIAN HEALTH MEDICAL GROUP-SPECIALTY CARE PC.

Totals

Total revenue
$720,923,458
Total expenses
$720,924,396
Contributions and grants received
$324,576,083
Grants paid
$0
Program service revenue
$395,845,661
Investment income
$202,184
Other revenue
$299,530
Total assets, end of year
$39,508,538
Total liabilities, end of year
$158,213,880
Net assets or fund balances, end of year
-$118,705,342
Program services expenses (Part IX)
$697,062,705
Management and general expenses
$23,861,691
Fundraising expenses
$0
Program service expenses (Part III)
$697,062,705

Program services were 96.7% 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

    $324,449,639

  • 1e · Government grants (contributions)

    $126,444

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

    total $390,133,124 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: OTHER HEALTHCARE RELATED REVENUE

    total $5,712,537 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $202,184 · unrelated business $0 · excluded $202,184

  • 6a · Gross rents

    real property $299,530

  • 6c · Rental income or loss

    real property $299,530

  • 6d · Net rental income or loss

    total $299,530 · excluded $299,530

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $461,584,048 · program services $461,584,048 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $14,108,428 · program services $14,108,428 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $15,084,692 · program services $15,084,692 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $17,183,224 · program services $17,183,224 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $159,001,213 · program services $135,151,031 · management and general $23,850,182 · fundraising $0

  • 11b · Fees: legal

    total $60,000 · program services $51,000 · management and general $9,000 · fundraising $0

  • 11c · Fees: accounting

    total $3,395 · program services $2,886 · management and general $509 · fundraising $0

  • 11g · Fees: other

    total $2,698,940 · program services $2,698,940 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $110,855 · program services $110,855 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $405,068 · program services $405,068 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $129,902 · program services $129,902 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $2,118,276 · program services $2,118,276 · management and general $0 · fundraising $0

  • 17 · Travel

    total $776,644 · program services $776,644 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $2,125,439 · program services $2,125,439 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

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

  • 23 · Insurance

    total $20,929,915 · program services $20,929,915 · management and general $0 · fundraising $0

  • 24a · Other expenses: PHYSICIAN BILLING

    total $23,233,720 · program services $23,233,720 · management and general $0 · fundraising $0

  • 24b · Other expenses: CONTRACTED SERVICES

    total $284,047 · program services $284,047 · management and general $0 · fundraising $0

  • 24c · Other expenses: CORP ALLOCATION

    total $240,884 · program services $240,884 · management and general $0 · fundraising $0

  • 24d · Other expenses: LICENSED PROFESSIONAL CORP FEES

    total $160,224 · program services $160,224 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $685,482 · program services $683,482 · management and general $2,000 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $7,324

  • 4 · Accounts receivable

    beginning of year $12,913,288 · end of year $35,183,059

  • 9 · Prepaid expenses and deferred charges

    beginning of year $446,967 · end of year $3,190,789

  • 10c · Land, buildings and equipment, net

    beginning of year $984,703

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $208,029,525 · end of year $1,127,366

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,457,504 · end of year $51,319,517

  • 19 · Deferred revenue

    beginning of year $432,427 · end of year $418,887

  • 25 · Other liabilities

    beginning of year $190,316,106 · end of year $106,475,476

  • 27 · Net assets without donor restrictions

    beginning of year $14,168,446 · end of year -$118,705,342

Mission and programs · 2023

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

TO SERVE AS THE PHYSICIAN SERVICES COMPONENT OF A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK & TO THEREBY PROMOTE, SUPPORT & FURTHER THE CHARITABLE PURPOSES, PROGRAMS & SERVICES OF HMH HOSPITALS CORP.

  • 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 $691,350,168 · Revenue $390,133,124

  • 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 $5,712,537 · Revenue $5,712,537

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

Listed in Part VII

  • MARK ANDERSON

    PHYSICIAN

    Total calculated
    $2,274,150
    From this org
    $2,233,054
    From related orgs
    $0
    Other
    $41,096
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,953,885
    Bonus
    $262,615
    Other
    $16,554
    Deferred
    $16,500
    Nontaxable benefits
    $24,596
    Filer's total
    $2,274,150

  • SIMON SALERNO

    PHYSICIAN

    Total calculated
    $1,946,766
    From this org
    $1,889,966
    From related orgs
    $0
    Other
    $56,800
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,802,289
    Bonus
    $60,000
    Other
    $27,677
    Deferred
    $16,500
    Nontaxable benefits
    $40,300
    Filer's total
    $1,946,766

  • DANIEL VARGA

    CHIEF PHYSICIAN EXECUTIVE

    Total calculated
    $1,946,588
    From this org
    $0
    From related orgs
    $1,890,919
    Other
    $55,669
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $1,142,469 related
    Bonus
    $0 + $540,645 related
    Other
    $0 + $207,805 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $39,169 related
    Filer's total
    $0 + $1,946,588 related

  • GEORGE BATSIDES

    PHYSICIAN

    Total calculated
    $1,783,718
    From this org
    $1,729,800
    From related orgs
    $0
    Other
    $53,918
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,592,160
    Bonus
    $109,128
    Other
    $28,512
    Deferred
    $16,500
    Nontaxable benefits
    $37,418
    Filer's total
    $1,783,718

  • SHABBAR DANISH

    PHYSICIAN

    Total calculated
    $1,638,430
    From this org
    $1,584,756
    From related orgs
    $0
    Other
    $53,674
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,292,843
    Bonus
    $289,093
    Other
    $2,820
    Deferred
    $16,500
    Nontaxable benefits
    $37,174
    Filer's total
    $1,638,430

  • ELIE ELMANN

    PHYSICIAN

    Total calculated
    $1,630,630
    From this org
    $1,600,039
    From related orgs
    $0
    Other
    $30,591
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,573,486
    Bonus
    $17,919
    Other
    $8,634
    Deferred
    $16,500
    Nontaxable benefits
    $14,091
    Filer's total
    $1,630,630

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 INDIVIDUALS 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 INDIVIDUALS 2023 FORM W-2 AS TAXABLE WAGES: DANIEL VARGA, $175,215.

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.

Related corporations and trusts

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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413189349305246

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