Hackensack Meridian Health Inc
- Assets
- $16.4m
- Revenue
- $35.8m
- Investments
- $0.0
- Employees
- 531
- Location
- Neptune, NJ
- Founding
- 09/1996
- Data as of
- 12/2017
- EIN
- 22-2666023
Organization Overview
Hackensack Meridian Health Inc is located in Neptune, NJ. The organization was established in 1996. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2017, Hackensack Meridian Health Inc employed 531 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Hackensack Meridian Health 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 12/2017, Hackensack Meridian Health Inc generated $35.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $40.6m during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 3 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY CARE & MANAGEMENT SERVICES FOR PEOPLE IN NEED OF LONG TERM CARE, SUBACUTE CARE, ADULT DAY CARE, HUNTINGTON'S DISEASE, HEAD INJURY REPROGRAMMING, RESPIRATORY CARE, TRANSITIONAL LIVING & ASSISTED LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARTWYCK AT OAK TREE, INC. PROVIDES HOUSING, HEALTHCARE AND OTHER RELATED SERVICES TO ITS RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay M Jeney Trustee - Chair | OfficerTrustee | 3 | $0 |
David A Belowich Trustee - Vice Chair | OfficerTrustee | 3 | $0 |
John O Grun Trustee - Secretary | OfficerTrustee | 3 | $0 |
Helen J Paterniti Trustee - Treasurer | OfficerTrustee | 3 | $0 |
Robin O Winter MD Trustee | Trustee | 3 | $0 |
Fran Yorey Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tender Touch Rehab Services Llc Pt, Ot & Speech | 12/30/17 | $2,302,645 |
Creative Management National Inc Dietary Management | 12/30/17 | $2,088,281 |
Pharmcare Usa Of Edison Inc Pharmacy | 12/30/17 | $1,461,415 |
Healthcare Services Group Inc Housekeeping | 12/30/17 | $1,288,998 |
H&r Healthcare Bed Rentals | 12/30/17 | $158,271 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $76,243 |
| 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 | $76,243 |
| Total Program Service Revenue | $35,299,004 |
| Investment income | $16,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $372,000 |
| 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 | $35,763,522 |
| 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 | $19,693,135 |
| Pension plan accruals and contributions | $357,880 |
| Other employee benefits | $3,098,873 |
| Payroll taxes | $1,473,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,208 |
| Fees for services: Accounting | $58,841 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,096,369 |
| Advertising and promotion | $70,740 |
| Office expenses | $1,212,328 |
| Information technology | $121,760 |
| Royalties | $0 |
| Occupancy | $1,228,999 |
| Travel | $24,123 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,103 |
| Interest | $945,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,047,886 |
| Insurance | $662,798 |
| All other expenses | $171,884 |
| Total functional expenses | $40,591,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,227,984 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,385,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $150,203 |
| Prepaid expenses and deferred charges | $9,046 |
| Net Land, buildings, and equipment | $10,472,009 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $153,859 |
| Total assets | $16,398,664 |
| Accounts payable and accrued expenses | $5,385,864 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $13,419,713 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,685,914 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,155,851 |
| Total liabilities | $23,647,342 |
| Unrestricted restricted net Assets | -$7,248,678 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$7,248,678 |