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Nonprofiteer
← ATLANTIC HEALTH SYSTEM INC

Form 990 for tax year 2022

Filed by ATLANTIC HEALTH SYSTEM INC.

Totals

Total revenue
$7,573,385
Total expenses
$6,825,762
Contributions and grants received
$0
Grants paid
$5,739,156
Program service revenue
$5,799,406
Investment income
$179,121
Other revenue
$1,594,858
Total assets, end of year
$133,364,306
Total liabilities, end of year
$29,888,010
Net assets or fund balances, end of year
$103,476,296
Program services expenses (Part IX)
$6,825,762
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$6,825,762

Program services were 100.0% 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.

  • 2a · Program service revenue: Clinical Rsch Support

    total $5,799,406 · related or exempt $5,799,406

  • 3 · Investment income

    total $179,121 · excluded $179,121

  • 11a · Other revenue: HEALTHCARE QUALITY PARTNERS - MSS

    total $993,144 · excluded $993,144

  • 11b · Other revenue: RETURN ON OPTIMUS INVESTMENT

    total $600,007 · excluded $600,007

  • 11c · Other revenue: Miscellaneous Income

    total $1,707 · excluded $1,707

  • 11e · Other revenue, total

    $1,594,858

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,739,156 · program services $5,739,156

  • 24a · Other expenses: PRIMARY CARE PARTNERS -

    total $719,059 · program services $719,059

  • 24b · Other expenses: ATLANTIC HEALTH PARTNER

    total $358,430 · program services $358,430

  • 24c · Other expenses: BANK FEES

    total $9,117 · program services $9,117

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,354,000 · end of year $15,669,660

  • 4 · Accounts receivable

    beginning of year $427,000 · end of year $0

  • 12 · Investments: other securities

    beginning of year $343,583 · end of year $327,664

  • 13 · Investments: program-related

    beginning of year $98,584,244 · end of year $104,584,244

  • 15 · Other assets

    beginning of year $2,425,015 · end of year $12,782,738

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,452,000 · end of year $1,098,678

  • 25 · Other liabilities

    beginning of year $30,681,072 · end of year $28,789,332

  • 27 · Net assets without donor restrictions

    beginning of year $97,000,770 · end of year $103,476,296

Mission and programs · 2022

Mission

Establish, maintain, sponsor, and promote activities relating to the improvement of human health and the provision of care to the sick and injured through its wholly owned subsidiary, AHS Hospital Corp. The system provides the Hospital Corp and other subsidiaries with general and professional liability coverage under a self-insurance plan and through an affiliated entity.

Activities or mission (Part I)

Refer to Schedule OEstablish, maintain, sponsor, and promote activities relating to the improvement of human health and the provision of care to the sick or injured through its wholly owned subsidiary, AHS Hospital Corp. via the processing of clinical research trials. The system provides the Hospital Corp and Subsidiaries with general and professional liability coverage under a self-insurance plan and through an affiliated entity.

  • The organization provides for the collection of clinical trial receipts which represent the reimbursement for the related expenses with contracted external pharmaceutical companies and universities. These clinical trials promote the improvement of human health and the provision of care to the sick and/or injured.

    Expenses $6,825,762 · Grants $5,739,156 · Revenue $5,799,406

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brian Gragnolati

    President & CEO

    Total calculated
    $7,028,324
    From this org
    $0
    From related orgs
    $5,942,931
    Other
    $1,085,393
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,744,023 related
    Bonus
    $0 + $2,437,600 related
    Other
    $0 + $761,308 related
    Deferred
    $0 + $1,068,675 related
    Nontaxable benefits
    $0 + $16,718 related
    Filer's total
    $0 + $7,028,324 related

  • Christopher R Reidy

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Samanatha Pozner

    Trustee-AHS

    Total calculated
    $50,000
    From this org
    $0
    From related orgs
    $50,000
    Other
    $0
    Hours/week
    2

  • Grant Parr MD

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • John F Vigorita MD

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Laura Ann Kelly-Vice Chair

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Richard W Herbst

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Robert E McCracken-Chair

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Finn Wentworth

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Sean Nicholson

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Dennis Wilson

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Jeanine Liburd

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Arthur Orduna

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Kevin Lenahan

    EVP-Chief Bus & Strategy O

    Total calculated
    $6,049,032
    From this org
    $0
    From related orgs
    $4,617,182
    Other
    $1,431,850
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,266,037 related
    Bonus
    $0 + $752,083 related
    Other
    $0 + $2,599,062 related
    Deferred
    $0 + $1,415,320 related
    Nontaxable benefits
    $0 + $16,530 related
    Filer's total
    $0 + $6,049,032 related

  • Sheilah O'Halloran

    EVP-General Counsel

    Total calculated
    $1,587,216
    From this org
    $0
    From related orgs
    $1,394,534
    Other
    $192,682
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $763,291 related
    Bonus
    $0 + $430,345 related
    Other
    $0 + $200,898 related
    Deferred
    $0 + $176,152 related
    Nontaxable benefits
    $0 + $16,530 related
    Filer's total
    $0 + $1,587,216 related

  • Katharine Driebe

    VP - Finance

    Total calculated
    $814,091
    From this org
    $0
    From related orgs
    $700,608
    Other
    $113,483
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $450,899 related
    Bonus
    $0 + $182,795 related
    Other
    $0 + $66,914 related
    Deferred
    $0 + $91,584 related
    Nontaxable benefits
    $0 + $21,899 related
    Filer's total
    $0 + $814,091 related

  • Michael Walter

    SVP-Chief Financial Officer

    Total calculated
    $292,478
    From this org
    $0
    From related orgs
    $255,292
    Other
    $37,186
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,292 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $33,750 related
    Nontaxable benefits
    $0 + $3,436 related
    Filer's total
    $0 + $292,478 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 4b
2022 Mid Career Hire Plan Earned Credits The following Officer earned credits in his non-qualified retirement plan-457(f) plan known as the Mid-Career Hire Plan (MCHP): Kevin Lenahan $1,387,870 The above amounts represent earned credits which have not vested and were not included in the respective 2022 Form W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and as Deferred Compensation in Column (C) of Part II, Schedule J of the 2022 Form 990 per Internal Revenue Service guidance. Once the officers meets the applicable vesting criteria of the plan, the MCHP credits will be included as taxable compensation in their respective Forms W-2 of that year. 2022 Mid Career Hire Plan The organization provides a supplemental non-qualified retirement plan (457f plan) known as the Mid-Career Hire Plan (MCHP) for certain officers and key employees. During 2022, the following officer/key employee received vested distributions in this non-qualified retirement plan. Such distributions were included in Box 1, Box 5 and Box 16 of the participant's respective Form W-2: Kevin Lenahan $2,578,814 The Mid Career Hire Plan was terminated effective January 1, 2023. Any existing participants were transferred at that time into the Supplemental Executive Retirement Plan (SERP) as outlind below. 2022 Supplemental Executive Retirement Plan (SERP) Earned Credits During 2022, Atlantic Health System implemented a non-qualified SERP paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. During 2022, the following Officers received SERP credits: Brian Gragnolati 1,051,602 Katharine Driebe 64,134 Sheilah O'Halloran 148,702 Michael Walter 33,750 The above amounts represent earned credits which have not vested and were not included in their respective 2022 Forms W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and as Deferred Compensation in Column (C) of Part II, Schedule J of the 2021 Form 990 per Internal Revenue Service guidance. Once the officers meet the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Forms W-2 of that year. 2022 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following officers received taxable SERP distributions during 2022 based on the vesting criteria of the plan document. These taxable SERP distributions were included in their respective 2022 W-2s and are reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii))of the this IRS 990: Brian Gragnolati $690,901 Katharine Driebe 65,108 Sheliah O'Halloran 159,330

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

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.

  • Morristown Medical Investors LLP

    Real Estate · NJ

  • Affiliated Collection Services LLC

    Collection Services · NJ

  • Primary Care Partners LLC

    Physician Services · NJ · 88% owned · share of income -$1,040,906 · share of assets $5,622,147

    Directly controlled by Atlantic Health System Inc

  • Morris Photopheresis

    Research · NJ

  • Atlantic Health Partners LLC

    Medical Practice · NJ · 95.5% owned · share of income $96,381 · share of assets $957,514

    Directly controlled by Atlantic Health System Inc

  • Healthcare Transformation Consortium LLC

    Medical Practice · NJ · 16.67% owned · share of income -$16,261

    Directly controlled by Atlantic Health System Inc

  • Atlantic Rehabilitation Institute LLC

    Rehabilitation Facility · KY

  • HTC Telemedicine Physician Group LLC

    Physician Services · NJ

  • Optimus Heatlhcare Partners LLC

    ACO Medical Services · NJ · 50% owned · share of income $367,576 · share of assets $9,762,480

    Directly controlled by Atlantic Health System Inc

Related corporations and trusts

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

  • ATLANTIC HEALTH MANAGEMENT CORP AND SUBSIDIARIES

    C · HEALTHCARE Related Services · NJ · 100% owned · share of income -$2,000 · share of assets $66,811,525 · controlled entity

    Directly controlled by Atlantic Health System Inc

  • AHS INSURANCE COMPANY LTD

    C · INSURANCE · NJ · 100% owned · share of assets $160,995,915 · controlled entity

    Directly controlled by Atlantic Health System Inc

  • NUTLEY MEDICAL CARE PA

    HEALTHCARE · NJ

  • NON-INVASIVE DIAGNOSTICS PA

    HEALTHCARE · NJ

  • SPECIALITY CARE OF PRACTICE ASSOCIATES PA

    HEALTHCARE · NJ

  • MATERNAL FETAL MEDICINE OF PRACTICE ASSOCIATES PA

    HEALTHCARE · NJ

  • MADISON PEDIATRICS PA

    HEALTHCARE · NJ

  • AHS ACO LLC

    Physician services · NJ

  • The Northwest New Jersey MedicalSurgical Alliance PC

    Healthcare Services · NJ

  • The Northwest New Jersey Urgent Care Alliance PC

    Healthcare Services · NJ

  • Tertiary Care Specialists of Practice Associates PA

    HEALTHCARE · NJ

  • Atlantic Executive Health PA

    HEALTHCARE · NJ

  • Chilton Community Care Inc and Subs

    C · HEALTHCARE · NJ

  • Atlantic Advanced Urgent Care LLC

    C · Healthcare · NJ

  • Care Better ACO LLC

    C · Physician Practice · NJ

  • AHS Health Network LLC

    C · Physician Practice · NJ

  • Atlantic Health ACO LLC

    C · Physician Practice · NJ

  • Visiting Nurse Association of Somerset Hills Office Park Condominium

    C · Home health services · NJ

  • Ancillary Specialists of Practice Assoc PA

    C · Physician Practice · NJ

  • Functional Medicine of Practice Associates PA

    C · Physician Practice · NJ

  • Atlantic Urgent Care LLC

    C · HEALTHCARE · NJ

  • CentraState Healthcare Services Inc

    C · Health Services · NJ

    Directly controlled by Atlantic Health System Inc

  • CentraState Medical Associates PC

    C · Health Services · NJ

    Directly controlled by Atlantic Health System Inc

  • CentraState Specialists PC

    C · Health Services · NJ

    Directly controlled by Atlantic Health System Inc

  • CentraState Captive Insurance Co LTD

    CJ

    Directly controlled by Atlantic Health System Inc

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303179349302875

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