Holy Name Medical Center Inc
- Assets
- $528.8m
- Revenue
- $523.1m
- Investments
- $0.0
- Employees
- 3,509
- Location
- Teaneck, NJ
- Founding
- 03/1946
- Data as of
- 12/2021
- EIN
- 22-1487322
Organization Overview
Holy Name Medical Center Inc is located in Teaneck, NJ. The organization was established in 1946. 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, Holy Name Medical Center Inc employed 3,509 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Holy Name Medical Center Inc 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, Holy Name Medical Center Inc generated $523.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $501.7m during the year ending 12/2021. While expenses have increased by 6.6% 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.
Since 2017, Holy Name Medical Center Inc has awarded 28 individual grants totaling $1,291,279. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICALLY NECESSARY HEALTHCARE SVCS TO INDIVIDUALS IN THE COMMUNITY REGARDLESS OF RACE, COLOR, CREED, SEX, GENDER IDENTITY, NAT'L ORIGIN, AGE, DISABILITY OR ABILITY TO PAY.
Describe the Organization's Program Activity:
EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY OUTPATIENT SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED IN SCHEDULE O.
EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY INPATIENT SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED IN SCHEDULE O.
EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY EMERGENCY DEPARTMENT SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED IN SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Maron Trustee - President & CEO | OfficerTrustee | 55 | $2,351,139 |
Adam Jarrett MD Fache Evp, Chief Medical Officer | Officer | 55 | $920,004 |
Maryann Kicenuik ESQ Vp, General Counsel | Officer | 55 | $915,954 |
Ryan Kennedy CPA Evp/cfo, Assist. Sec/treas | Officer | 55 | $710,464 |
Saikrishnan Kandamangalam Evp, Chief Information Officer | Officer | 55 | $622,644 |
Michele Acito Dnp RN Ne-Bc Evp, Chief Nursing Officer | Officer | 55 | $612,475 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Claudio Bozzo Son Inc Construction | 12/30/21 | $7,053,785 |
Servpro Of Greater Boulder Restoration | 12/30/21 | $5,000,000 |
Sodexho Inc Affiliates Cafeteria Svcs. | 12/30/21 | $3,452,065 |
Tvs Next Private Limited It/software | 12/30/21 | $2,637,371 |
New Jersey Perinatal Associates Medical | 12/30/21 | $2,158,001 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $161,600 |
| Fundraising events | $0 |
| Related organizations | $5,499,702 |
| Government grants | $10,152,233 |
| All other contributions, gifts, grants, and similar amounts not included above | $101,710 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,915,245 |
| Total Program Service Revenue | $490,384,961 |
| Investment income | $3,308,930 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $531,455 |
| Net Gain/Loss on Asset Sales | $7,969,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $523,084,132 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $340,123 |
| Grants and other assistance to domestic individuals. | $192,581 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,196,749 |
| Compensation of current officers, directors, key employees. | $881,488 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $185,546,430 |
| Pension plan accruals and contributions | $3,766,429 |
| Other employee benefits | $12,602,057 |
| Payroll taxes | $12,898,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,220,550 |
| Fees for services: Accounting | $310,874 |
| Fees for services: Lobbying | $83,172 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $318,967 |
| Fees for services: Other | $16,398,807 |
| Advertising and promotion | $4,934,039 |
| Office expenses | $11,790,652 |
| Information technology | $8,233,892 |
| Royalties | $0 |
| Occupancy | $5,933,333 |
| Travel | $372,118 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $141,464 |
| Interest | $2,042,310 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,260,477 |
| Insurance | $3,097,782 |
| All other expenses | $5,001,202 |
| Total functional expenses | $501,697,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,824,970 |
| Savings and temporary cash investments | $18,568,478 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,596,899 |
| Loans from Officers, Directors, or Controlling Persons | $27,423,636 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,342,466 |
| Prepaid expenses and deferred charges | $4,751,942 |
| Net Land, buildings, and equipment | $139,527,707 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $149,728,138 |
| Intangible assets | $0 |
| Other assets | $101,047,215 |
| Total assets | $528,811,451 |
| Accounts payable and accrued expenses | $79,572,460 |
| Grants payable | $0 |
| Deferred revenue | $522,930 |
| Tax-exempt bond liabilities | $59,846,898 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,292,916 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $79,981,534 |
| Total liabilities | $241,216,738 |
| Net assets without donor restrictions | $264,973,713 |
| Net assets with donor restrictions | $22,621,000 |
| 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 | $528,811,451 |
Grants Awarded
Over the last fiscal year, Holy Name Medical Center Inc has awarded $323,072 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Verona, NJ PURPOSE: PROGRAM SUPPORT | $125,000 |
Paramus, NJ PURPOSE: PROGRAM SUPPORT | $100,000 |
Union City, NJ PURPOSE: PROGRAM SUPPORT | $40,000 |
Hackensack, NJ PURPOSE: PROGRAM SUPPORT | $22,500 |
BERGEN CATHOLIC HIGH SCHOOL PURPOSE: PROGRAM SUPPORT | $15,000 |
Union City, NJ PURPOSE: PROGRAM SUPPORT | $13,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Holy Name Medical Center Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Quentin J Kennedy Foundation Tenafly, NJ PURPOSE: CHARITABLE | $5,000 |
Endowment Analysis
| Beg. Balance | $18,870,612 |
| Earnings | $556,895 |
| Net Contributions | $6,923,917 |
| Other Expense | $5,793,612 |
| Ending Balance | $20,557,812 |
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 |