Meridian Medical Group-Specialty Care Pc
- Assets
- $18.1m
- Revenue
- $139.2m
- Investments
- $0.0
- Employees
- 239
- Location
- Edison, NJ
- Founding
- 05/2009
- Data as of
- 12/2021
- EIN
- 14-1981647
Organization Overview
Meridian Medical Group-Specialty Care Pc is located in Edison, NJ. The organization was established in 2009. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Meridian Medical Group-Specialty Care Pc employed 239 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meridian Medical Group-Specialty Care Pc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Meridian Medical Group-Specialty Care Pc generated $139.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $139.2m during the year ending 12/2021. While expenses have increased by 17.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION WILL FURTHER THE CHARITABLE AND HEALTHCARE PURPOSES OF HACKENSACK MERIDIAN HEALTH, INC. AND ITS INTERNAL REVENUE CODE 501(C)(3) TAX-EXEMPT AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES DIRECTLY TO PATIENTS THROUGH THE PHYSICIANS EMPLOYED BY THE CORPORATION. ACCORDINGLY, THE CORPORATION IS AN INTEGRAL PART OF HACKENSACK MERIDIAN HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Simon Salerno MD Physician | 55 | $2,025,559 | |
Nasir Ahmad Physician | 55 | $982,952 | |
Evan Naylor Physician | 55 | $921,692 | |
Jatin Desani Physician | 55 | $913,002 | |
Paul Chung Physician | 55 | $900,388 | |
James Clarke MD Vice President & Secretary | OfficerTrustee | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jersey Coast Vascular Assoc Pa Medical | 12/30/17 | $2,169,194 |
Healthy Woman Obgyn Medical | 12/30/17 | $1,724,038 |
Atlantic Hematology Oncology Assoc Medical | 12/30/17 | $1,760,735 |
Medical Assoc Of Ocean County Medical | 12/30/17 | $2,156,589 |
Cardiac Care Center Llc Medical | 12/30/17 | $1,524,016 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $139,214,916 |
| Investment income | $21,157 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,236,073 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $88,100,132 |
| Pension plan accruals and contributions | $1,153,243 |
| Other employee benefits | $2,677,272 |
| Payroll taxes | $2,376,961 |
| Fees for services: Management | $34,977,866 |
| Fees for services: Legal | $420 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,011,169 |
| Advertising and promotion | $0 |
| Office expenses | $107,953 |
| Information technology | $5,031 |
| Royalties | $0 |
| Occupancy | $136,256 |
| Travel | $104,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $237,335 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,290,883 |
| Insurance | $0 |
| All other expenses | $2,416 |
| Total functional expenses | $139,236,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,785,565 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,876,982 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $609,117 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,813,470 |
| Total assets | $18,085,134 |
| Accounts payable and accrued expenses | $8,223,950 |
| Grants payable | $0 |
| Deferred revenue | $4,748 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,228,698 |
| Net assets without donor restrictions | $9,856,436 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,085,134 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Meridian Medical Group-Specialty Care Pc has recieved totaling $41,475,332.
| Awarding Organization | Amount |
|---|---|
Hackensack Meridian Health Inc Edison, NJ PURPOSE: Subsidy | $41,475,332 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Englewood Hospital And Medical Center A New Jersey Nonprofit Corp Englewood, NJ | $770,563,796 | $890,451,423 |
Inspira Medical Centers Inc Bridgeton, NJ | $1,997,035,403 | $960,599,521 |
Valley Hospital Inc Ridgewood, NJ | $2,214,086,950 | $1,000,529,103 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Virtu-West Jersey Health System Inc Marlton, NJ | $2,706,789,713 | $1,000,808,483 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Bayhealth Medical Center Inc Dover, DE | $1,592,804,671 | $861,509,299 |