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Nonprofiteer
← ATLANTIC HEALTH SYSTEM INC

Form 990 for tax year 2023

Filed by ATLANTIC HEALTH SYSTEM INC.

Totals

Total revenue
$9,524,927
Total expenses
$7,015,883
Contributions and grants received
$0
Grants paid
$5,901,389
Program service revenue
$5,949,426
Investment income
$944,800
Other revenue
$2,630,701
Total assets, end of year
$169,462,646
Total liabilities, end of year
$48,400,320
Net assets or fund balances, end of year
$121,062,326
Program services expenses (Part IX)
$7,015,883
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$7,015,883

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Brian Gragnolati

    President & CEO

    Total calculated
    $9,510,516
    From this org
    $0
    From related orgs
    $8,373,068
    Other
    $1,137,448
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $3,027,508 related
    Bonus
    $0 + $2,305,875 related
    Other
    $0 + $3,039,685 related
    Deferred
    $0 + $1,124,068 related
    Nontaxable benefits
    $0 + $13,380 related
    Filer's total
    $0 + $9,510,516 related

  • Christopher R Reidy

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Samanatha Pozner

    Trustee-AHS

    Total calculated
    $96,155
    From this org
    $0
    From related orgs
    $96,155
    Other
    $0
    Hours/week
    2 + 2 related

  • 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

  • Justice Jaynee LaVecchia

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Mai Pham MD

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Michael Ranger

    Trustee-AHS

    Total calculated
    $0
    Hours/week
    2

  • Kevin Lenahan

    EVP-Chief Bus & Strategy O

    Total calculated
    $7,161,469
    From this org
    $0
    From related orgs
    $6,754,515
    Other
    $406,954
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,347,725 related
    Bonus
    $0 + $992,992 related
    Other
    $0 + $4,413,798 related
    Deferred
    $0 + $393,574 related
    Nontaxable benefits
    $0 + $13,380 related
    Filer's total
    $0 + $7,161,469 related

  • Sheilah O'Halloran

    EVP-General Counsel

    Total calculated
    $1,889,266
    From this org
    $0
    From related orgs
    $1,616,347
    Other
    $272,919
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $839,197 related
    Bonus
    $0 + $593,867 related
    Other
    $0 + $183,283 related
    Deferred
    $0 + $259,539 related
    Nontaxable benefits
    $0 + $13,380 related
    Filer's total
    $0 + $1,889,266 related

  • Katharine Driebe

    VP - Finance

    Total calculated
    $907,428
    From this org
    $0
    From related orgs
    $787,518
    Other
    $119,910
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $471,265 related
    Bonus
    $0 + $235,676 related
    Other
    $0 + $80,577 related
    Deferred
    $0 + $102,029 related
    Nontaxable benefits
    $0 + $17,881 related
    Filer's total
    $0 + $907,428 related

  • Michael Walter

    SVP-Chief Financial Office

    Total calculated
    $1,108,761
    From this org
    $0
    From related orgs
    $971,184
    Other
    $137,577
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $879,991 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $16,193 related
    Deferred
    $0 + $119,777 related
    Nontaxable benefits
    $0 + $17,800 related
    Filer's total
    $0 + $1,108,761 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
2023 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 2023, 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 $4,372,618 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. 2023 Supplemental Executive Retirement Plan (SERP) Earned Credits During 2023, 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 2023, the following Officers received SERP credits: Brian Gragnolati 1,112,605 Katharine Driebe 72,329 Sheilah O'Halloran 223,239 Michael Walter 117,061 Kevin Lenahan 357,274 The above amounts represent earned credits which have not vested and were not included in their respective 2023 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 2023 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. 2023 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following officers received taxable SERP distributions during 2023 based on the vesting criteria of the plan document. These taxable SERP distributions were included in their respective 2023 W-2s and are reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii))of the this IRS 990: Brian Gragnolati $2,980,366 Katharine Driebe 67,545 Sheliah O'Halloran 148,702

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443189349308644

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