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Nonprofiteer
← HACKENSACK MERIDIAN HEALTH INC

Form 990 for tax year 2022

Filed by HACKENSACK MERIDIAN HEALTH INC.

Totals

Total revenue
$20,661,681
Total expenses
$20,430,050
Contributions and grants received
$4,829,042
Grants paid
$3,883,663
Program service revenue
$15,712,938
Investment income
$0
Other revenue
$119,701
Total assets, end of year
$62,356,147
Total liabilities, end of year
$29,429,012
Net assets or fund balances, end of year
$32,927,135
Program services expenses (Part IX)
$20,430,050
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$20,430,050

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.

  • 1e · Government grants (contributions)

    $4,829,042

  • 2a · Program service revenue: EDUCATION PROGRAMS

    total $15,712,182 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: MPI

    total $756 · unrelated business $0 · excluded $0

  • 11a · Other revenue: NET ASSET RELEASE FOUNDATION

    total $119,701 · related or exempt $119,701 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $119,701

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,883,663 · program services $3,883,663

  • 7 · Other salaries and wages

    total $6,772,653 · program services $6,772,653 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $157,329 · program services $157,329 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $817,719 · program services $817,719 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $325,267 · program services $325,267 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $12,891 · program services $12,891 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $139,414 · program services $139,414 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11g · Fees: other

    total $599,105 · program services $599,105 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $50,131 · program services $50,131 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $67,276 · program services $67,276 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $231,845 · program services $231,845 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $1,542,874 · program services $1,542,874 · management and general $0 · fundraising $0

  • 17 · Travel

    total $107,938 · program services $107,938 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $61,794 · program services $61,794 · management and general $0 · fundraising $0

  • 20 · Interest

    total $95,479 · program services $95,479 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $904,253 · program services $904,253 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $22,780 · program services $22,780 · management and general $0 · fundraising $0

  • 24a · Other expenses: ALLOCATION OF PERSONNEL COSTS

    total $3,820,332 · program services $3,820,332 · management and general $0 · fundraising $0

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $258,961 · program services $258,961 · management and general $0 · fundraising $0

  • 24c · Other expenses: MED SUPPLY

    total $92,212 · program services $92,212 · management and general $0 · fundraising $0

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $30,295 · program services $30,295 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $435,839 · program services $435,839 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,130,021 · end of year $14,534,137

  • 3 · Pledges and grants receivable

    beginning of year $3,538,969 · end of year $2,721,659

  • 4 · Accounts receivable

    beginning of year $1,180,434 · end of year $16,938,019

  • 9 · Prepaid expenses and deferred charges

    beginning of year $401,611 · end of year $554,000

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

    $17,966,324

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

    $2,389,041

  • 10c · Land, buildings and equipment, net

    beginning of year $16,460,447 · end of year $15,577,283

  • 13 · Investments: program-related

    beginning of year $10,691,328 · end of year $12,031,049

  • 15 · Other assets

    beginning of year $55,934 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,329,719 · end of year $20,344,239

  • 19 · Deferred revenue

    beginning of year $4,500,000 · end of year $4,500,000

  • 25 · Other liabilities

    beginning of year $4,641,114 · end of year $4,584,773

  • 27 · Net assets without donor restrictions

    beginning of year $18,245,067 · end of year $20,844,570

  • 28 · Net assets with donor restrictions

    beginning of year $10,742,844 · end of year $12,082,565

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

A MEDICAL SCHOOL DEDICATED TO EXCELLENCE IN THE TRIPARTITE ACADEMIC MEDICAL MISSIONS OF EDUCATION, SCIENTIFIC RESEARCH, AND CLINICAL CARE.

  • PROMOTING THE TRIPARTITE ACADEMIC MEDICAL MISSIONS OF EDUCATION, SCIENTIFIC RESEARCH, AND CLINICAL CARE.

    Expenses $20,430,050 · Grants $3,883,663 · Revenue $15,843,379

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

Listed in Part VII

  • ROBERT C GARRETT FACHE

    TRUSTEE - CEO, Hackensack Meridian Health

    Total calculated
    $5,984,779
    From this org
    $0
    From related orgs
    $5,674,424
    Other
    $310,355
    Hours/week
    3

    Schedule J breakdown matched by us

    Base
    $0 + $2,549,241 related
    Bonus
    $0 + $1,832,399 related
    Other
    $0 + $1,292,784 related
    Deferred
    $0 + $277,938 related
    Nontaxable benefits
    $0 + $32,417 related
    Filer's total
    $0 + $5,984,779 related

  • JEFFREY BOSCAMP

    DEAN

    Total calculated
    $1,191,580
    From this org
    $0
    From related orgs
    $1,177,028
    Other
    $14,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $694,999 related
    Bonus
    $0 + $198,746 related
    Other
    $0 + $283,283 related
    Deferred
    $0 + $10,675 related
    Nontaxable benefits
    $0 + $3,877 related
    Filer's total
    $0 + $1,191,580 related

  • MIRIAM HOFFMAN

    ASSOCIATE DEAN- ACADEMIC AFFAIRS

    Total calculated
    $568,254
    From this org
    $517,288
    From related orgs
    $0
    Other
    $50,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $457,137
    Bonus
    $37,941
    Other
    $22,210
    Deferred
    $15,250
    Nontaxable benefits
    $35,716
    Filer's total
    $568,254

  • STANLEY TERLECKY

    ASSOCIATE DEAN - RESEARCH/CHAIR M.D.

    Total calculated
    $455,516
    From this org
    $404,371
    From related orgs
    $0
    Other
    $51,145
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $364,177
    Bonus
    $35,737
    Other
    $4,458
    Deferred
    $15,250
    Nontaxable benefits
    $35,894
    Filer's total
    $455,516

  • JOHN SCHIAVONE

    ASSOC DEAN, FINANCE AND OPS

    Total calculated
    $370,187
    From this org
    $339,889
    From related orgs
    $0
    Other
    $30,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,401
    Bonus
    $32,759
    Other
    $23,729
    Deferred
    $15,246
    Nontaxable benefits
    $15,052
    Filer's total
    $370,187

  • LORRAINE SULLIVAN

    ASSOC DEAN, STDNT AFFAIRS/WELL

    Total calculated
    $325,863
    From this org
    $288,336
    From related orgs
    $0
    Other
    $37,527
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,664
    Bonus
    $27,988
    Other
    $24,684
    Deferred
    $11,990
    Nontaxable benefits
    $25,537
    Filer's total
    $325,863

  • OFELIA MARTINEZ

    ASST DEAN, MEDICAL EDUCATION

    Total calculated
    $298,306
    From this org
    $287,561
    From related orgs
    $0
    Other
    $10,745
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,573
    Bonus
    $24,587
    Other
    $1,401
    Deferred
    $10,463
    Nontaxable benefits
    $282
    Filer's total
    $298,306

  • JOHN F WILLIAMS JR MD

    CHAIRPERSON - TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MARY ANN CHRISTOPHER

    VICE CHAIRPERSON - TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LINDA BOWDEN

    SECRETARY - TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • FRANK L FEKETE CPA

    TREASURER - TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM J MONTGORIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • AMY CRADIC

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ROBERT E O'HARA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ROBERT HEKEMIAN JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • RAYMOND CHAMBERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ULISES E DIAZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • VAUGHN MCKOY JD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • RICHARD PARK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SUZANNE SPERO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER VELEZ JD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • VINCENT AMABILE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

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, QUESTIONS 15A & 15B 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 INDIVIDUAL'S 2022 FORM W-2 AS TAXABLE WAGES: ROBERT C. GARRETT, FACHE, $904,854 AND JEFFREY BOSCAMP $86,763. BOTH INDIVIDUALS COMPENSATIONS WERE PAID BY HMSOM'S RELATED ORGANIZATION, HACKENSACK MERIDIAN HEALTH, INC.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
25 June 2024
IRS schema version
2022v5.0
Source object
202421779349300637

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