THE VALLEY HOSPITAL INC

EIN: 221487307 501(c)(3) Health Care

RIDGEWOOD, NJ

Total Revenue
$1,153,072,946
Total Expenses
$1,035,353,094
Total Assets
$2,368,786,881
Net Assets
$1,657,688,009
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Financial Trends

Organization Details

Formation Year
1925
Legal Domicile
NJ
Principal Officer
AUDREY MEYERS
Phone
2014478000
Tax Period
2023-01-01 to 2023-12-31

THE VALLEY HOSPITAL INC, founded in 1925, is a large national nonprofit in the Health Care sector that reported $1.2B in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.0B left a modest 10% surplus.

Mission

THE VALLEY HOSPITAL SERVES THE COMMUNITY BY HEALING AND CARING FOR PATIENTS, COMFORTING THEIR FAMILIES AND TEACHING GOOD HEALTH. THE VALLEY HOSPITAL IS DISTINGUISHED BY A COMMITMENT TO EXCELLENCE IN CLINICAL CARE, INNOVATION IN PROGRAMS AND TECHNOLOGY, AND PROVIDING A COMPASSIONATE AND RESPECTFUL ENVIRONMENT.

Program Service Accomplishments

Program 1
Expenses: $784,330,283 Revenue: $1,055,445,485

THE VALLEY HOSPITAL IN PARAMUS, NEW JERSEY IS A FULLY ACCREDITED, ACUTE CARE, NOT-FOR-PROFIT HOSPITAL SERVING MORE THAN 440,000 PEOPLE IN 32 TOWNS IN BERGEN COUNTY AND ADJOINING COMMUNITIES. THE...

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THE VALLEY HOSPITAL IN PARAMUS, NEW JERSEY IS A FULLY ACCREDITED, ACUTE CARE, NOT-FOR-PROFIT HOSPITAL SERVING MORE THAN 440,000 PEOPLE IN 32 TOWNS IN BERGEN COUNTY AND ADJOINING COMMUNITIES. THE VALLEY HOSPITAL IS PART OF VALLEY HEALTH SYSTEM, A REGIONAL HEALTHCARE SYSTEM THAT SERVES RESIDENTS IN NORTHERN NEW JERSEY AND SOUTHERN NEW YORK. IT COMPRISES THE VALLEY HOSPITAL, VALLEY HOME CARE, AND VALLEY MEDICAL GROUP. AS A NOT-FOR-PROFIT HOSPITAL, VALLEY IS COMMITTED TO GIVING BACK TO THE COMMUNITY. VALLEY SERVES THE COMMUNITY BY PROVIDING THOUSANDS OF HOURS OF HEALTHCARE EDUCATION AND SCREENINGS, SUPPORT GROUPS AND CLASSES TO ASSIST THOSE IN NEED, AND CARE TO ALL THOSE WHO COME THROUGH OUR DOORS, REGARDLESS OF THEIR ABILITY TO PAY. VALLEY'S LICENSED CAPACITY IS 2023 WAS 431 BEDS.BERGEN COUNTY IS THE MOST POPULOUS COUNTY IN NEW JERSEY AND ONE OF THE WEALTHIEST COUNTIES IN THE UNITED STATES. THERE ARE 952,997 RESIDENTS IN THE 233.01 SQUARE MILES OF BERGEN COUNTY, NJ. THE POPULATION IS 52.7% WHITE AND NON-HISPANIC, 22.7% HISPANIC, 7.8% BLACK, AND 17.6% ASIAN. SEVEN PERCENT OF THE POPULATION IS NOT PROFICIENT IN ENGLISH. THE CHILD POVERTY RATE IS 8% AND 17% OF STUDENTS ARE ELIGIBLE FOR FREE OR REDUCED-PRICE LUNCH. THE MEDIAN HOUSEHOLD INCOME IS $113,900. RESIDENTS ARE GENERALLY WELL-EDUCATED AND HAVE HIGHER GRADUATION RATES THAN NJ AS A WHOLE AND THE U.S. AS A WHOLE. BERGEN COUNTY FARES BETTER THAN THE AVERAGE COUNTY IN NEW JERSEY FOR HEALTH OUTCOMES. THE VALLEY HOSPITAL EMPLOYS PEOPLE WHO REPRESENT AND LIVE IN THE COMMUNITIES WE SERVE. MORE THAN 3,600 EMPLOYEES CONSTITUTE THE VALLEY HOSPITAL.VALLEY PARTICIPATES IN A COMMUNITY HEALTH NEEDS ASSESSMENT EVERY THREE YEARS. THIS ASSESSMENT IS PART OF A REGIONAL PROJECT CONDUCTED BY PROFESSIONAL RESEARCH CONSULTANTS, INC. (PRC) FOR THE COMMUNITY HEALTH IMPROVEMENT PARTNERSHIP (CHIP) OF BERGEN COUNTY. THE ASSESSMENT INCORPORATES DATA FROM MULTIPLE SOURCES, INCLUDING PRIMARY RESEARCH (THROUGH THE PRC COMMUNITY HEALTH SURVEY AND PRC ONLINE KEY INFORMANT SURVEY), AS WELL AS SECONDARY RESEARCH (VITAL STATISTICS AND OTHER EXISTING HEALTH-RELATED DATA). IT ALSO ALLOWS FOR TRENDING AND COMPARISON TO BENCHMARK DATA AT THE STATE AND NATIONAL LEVELS.IN 2023, 55,543 INDIVIDUALS WERE ADMITTED TO VALLEY, 73,171 PEOPLE WERE TREATED IN THE EMERGENCY DEPARTMENT, AND 3,602 BABIES WERE BORN. VALLEY'S KEY SERVICES INCLUDE CARDIOLOGY, ONCOLOGY, WOMEN'S AND CHILDREN'S SERVICES, EMERGENCY CARE, ORTHOPEDICS, AND NEUROSCIENCES. VALLEY ALSO OFFERS THE SERVICES OF A CENTER FOR MINIMALLY INVASIVE AND ROBOTIC SURGERY, A TOTAL JOINT REPLACEMENT CENTER, A NEUROSCIENCE CENTER, A CENTER FOR BARIATRIC SURGERY AND WEIGHT-LOSS MANAGEMENT, A CENTER FOR SLEEP MEDICINE, THE GAMMA KNIFE CENTER, AND THE KIREKER CENTER FOR CHILD DEVELOPMENT, AMONG OTHERS.VALLEY'S COMMUNITY CARE CLINIC HAD 5,271 VISITS IN 2023. THEY PROVIDE CARE AT NO COST TO THE PATIENTS WHO QUALIFY IN 16 (MEDICAL, NEUROLOGY, GI, GENERAL SURGERY, BREAST SURGERY, RHEUMATOLOGY, OPHTHALMOLOGY, GYN, OB, PEDIATRICS, PULMONARY, CARDIOLOGY, PAIN, DERMATOLOGY, ORTHOPEDICS, AND UROLOGY) SPECIALTY CLINICS. THEY CONTINUE TO PROVIDE CARE TO CHILDREN IN FOSTER CARE IN BERGEN AND PASSAIC COUNTIES THAT REQUIRE COMPLEX MEDICAL AND SUBSPECIALTY CARE. EACH YEAR, VALLEY DINING PREPARES OVER 23,000 MEALS FOR COMMUNITY MEALS, INC., AND FINANCIAL RESOURCES TO SUPPORT HOMEBOUND OLDER ADULTS IN VALLEY'S SERVICE AREA.VALLEY HEALTH SYSTEM HAS BEEN DESIGNATED AS AN LGBTQ+ HEALTHCARE EQUALITY HIGH PERFORMER BY THE HUMAN RIGHTS CAMPAIGN FOUNDATION, THE EDUCATIONAL ARM OF THE NATION'S LARGEST LESBIAN, GAY, BISEXUAL, TRANSGENDER, AND QUEER (LGBTQ+) CIVIL RIGHTS ORGANIZATION. THE HEALTHCARE EQUALITY INDEX STRIVES TO ENSURE LGBTQ+ PEOPLE ARE PROTECTED AND AFFIRMED BY THEIR HEALTHCARE PROVIDERS AND FEEL SAFE SEEKING SERVICES. HEI ACTIVE PARTICIPANTS ARE RECOGNIZED FOR IMPLEMENTING ROBUST, COMPREHENSIVE LGBTQ+ INCLUSIVE POLICIES THAT HOPEFULLY, BECAUSE OF THEIR WORK, BECOME STANDARD PRACTICE.VALLEY WORKS WITH LOCAL PARTNERS TO PROMOTE INCLUSIVITY AND EQUALITY. WHERE VALLEY WAS A SPONSOR, 335 COMMUNITY MEMBERS ATTENDED EDUCATION PROGRAMS ON LGBTQ+ HEALTH AND LOCAL PRIDE CELEBRATIONS. VALLEY'S SOCIAL EQUALITY COUNCIL IS THE RECIPIENT OF THE NEW JERSEY HOSPITAL ASSOCIATION'S (NJHA) 2023 DIVERSITY AND INCLUSION AWARD, FOR ITS WORK IN PROMOTING AN INCLUSIVE, FAIR, AND SUPPORTIVE CULTURE FOR OUR STAFF AND THE COMMUNITIES WE SERVE.FORMED IN 2020 IN THE WAKE OF NATIONWIDE PROTESTS AND DEMONSTRATIONS FOLLOWING THE DEATH OF GEORGE FLOYD, THE SOCIAL EQUALITY COUNCIL HAS TAKEN MANY STEPS TOWARD MAKING VALLEY AN EVEN BETTER PLACE FOR ALL EMPLOYEES, DOCTORS, AND MEMBERS OF OUR COMMUNITY. AMONG ITS ACCOMPLISHMENTS ARE THE CREATION OF THE CAREER DEVELOPMENT PROGRAM; INCREASED MINORITY REPRESENTATION IN MANAGEMENT AND PROMOTIONAL OPPORTUNITIES; AND ENHANCED UTILIZATION OF DIVERSE, MINORITY-LED VENDORS AND SUPPLIERS.VALLEY HEALTH SYSTEM'S CHAIR OF WOMEN'S SERVICES PRESENTED AT THE CONGRESSIONAL BLACK CAUCUS FOUNDATION'S ANNUAL LEGISLATIVE CONFERENCE ABOUT REDUCING BLACK MATERNAL MORTALITY. VALLEY CONTINUES TO PARTNER WITH BERGEN COMMUNITY COLLEGE TO DISCUSS HEALTH INEQUITIES AND HEALTH NEEDS OF THE BIPOC COMMUNITY. A PANEL DISCUSSION FEATURING FAMILY MEMBERS OF HENRIETTA LACKS WELCOMED OVER 200 PARTICIPANTS. THE DISCUSSION NOT ONLY FOCUSED ON THE STORY OF HENRIETTA LACKS, BUT ALSO COVERED TOPICS SUCH AS INFORMED CONSENT AND THE CONTRIBUTIONS OF HELA CELLS ON MODERN MEDICINE.THE BOYS & GIRLS CLUBS OF PASSAIC, PATERSON AND CLIFTON PARTICIPATED IN THREE CAREER EVENTS LEARNING ABOUT EMERGENCY MEDICAL SERVICES, CARDIAC PROCEDURES, AND HEALTHCARE CAREERS. FORTY-THREE HIGH SCHOOL SENIORS PARTICIPATED IN VALLEY'S CAREER FRONTIERS HIGH SCHOOL WORKFORCE DEVELOPMENT PROGRAM DURING THEIR SCHOOL YEAR, REPRESENTING 13 DIFFERENT SCHOOLS THROUGHOUT BERGEN AND PASSAIC COUNTIES. "CAREER FRONTIERS" HIGH SCHOOL INTERNSHIP PROGRAM PROVIDES HS SENIOR INTERNS THE OPPORTUNITY TO LEARN THROUGH SERVICE. STUDENTS INTERESTED IN A HEALTHCARE CAREER LEARN THROUGH OBSERVATION AND EXPERIENCE TO SUPPORT THEIR CAREER READINESS. INTERNS SERVE PATIENTS, FAMILIES, AND STAFF WITH ADDED EXPERIENCES THAT MAY INCLUDE ASSISTING WITH DEPARTMENT PROJECTS, OBSERVING PATIENT CARE OR PROCEDURES, ATTENDING MEETINGS, ESTABLISHING MEANINGFUL CONNECTIONS WITH PATIENTS, THEIR FAMILIES, VISITORS, AND INTERACTING WITH A VARIETY OF DIVERSE HEALTHCARE PROFESSIONALS. STUDENTS ARE REQUIRED TO COMPLETE WEEKLY REFLECTION JOURNALS AND ATTEND IN DEPTH DEPARTMENT TOURS AND SPECIAL HEALTHCARE CAREER EDUCATION EVENTS. TWENTY-FOUR STUDENTS THE PATERSON STEAM HIGH SCHOOL RECEIVED HEARTSAVER & AED TRAINING CERTIFICATION.THE RIDGEWOOD ACADEMY FOR HEALTH PROFESSIONS (RAHP) IS A PARTNERSHIP BETWEEN VALLEY, RIDGEWOOD HIGH SCHOOL, AND BERGEN COMMUNITY COLLEGE. THIS THREE-YEAR PROGRAM BEGAN IN 2005 AND HAS GRADUATED OVER 500 STUDENTS INTERESTED IN PURSUING CAREERS IN HEALTHCARE. DURING THE STUDENT'S FIRST YEAR, TERMED THEIR "EXPLORATION YEAR," STUDENTS VISIT THREE FULL-DAY SESSIONS LEARNING ABOUT DIFFERENT DEPARTMENTS IN THE HEALTHCARE SETTING. THE SECOND YEAR CONCENTRATES ON AREAS OF INTEREST THE STUDENTS WOULD LIKE TO FURTHER INVESTIGATE. DURING THE STUDENT'S THIRD YEAR, TERMED THEIR "MENTORSHIP YEAR," STUDENTS CHOOSE ONE HEALTH-RELATED ISSUE TO EXPLORE UNDER THE GUIDANCE OF A MENTOR AND PREPARE A CAPSTONE PROJECT. VALLEY HAS ALREADY HIRED THREE NURSES, TWO SOCIAL WORKERS, AN IMAGING TECH, A PHYSICIAN, AND AN ADMINISTRATOR WHO ARE ALL GRADUATES OF RAHP.PARTICIPATION IN COMMUNITY EDUCATION CLASSES HAVE GROWN EXPONENTIALLY THROUGH THE USE OF VIRTUAL EDUCATION TOOLS AND SOCIAL MEDIA. IN 2023, 14,803 PEOPLE ATTENDED FREE, IN-PERSON SCREENINGS, EXERCISE PROGRAMS, AND EDUCATION EVENTS. AN ADDITIONAL 167,000 PEOPLE VIEWED VIRTUAL EDUCATION, PODCASTS, WRITTEN EDUCATION, AND SOCIAL MEDIA. IN 2023, A TOTAL OF 181,877 LEARNED ABOUT GOOD HEALTH FROM VALLEY'S COMMUNITY HEALTH DEPARTMENT. WHEN ASKED, 93.4% OF PARTICIPANTS SHARED THAT THEY INCREASED THEIR KNOWLEDGE AS A RESULT OF ATTENDING ONE OF OUR PROGRAMS. AND 85.5% SAID THEY INTEND TO MAKE LIFESTYLE CHANGES AS A RESULT OF WHAT THEY LEARNED.PARTICIPANTS IN VALLEY'S FREE WALKING PROGRAMS WALKED 650 MILES IN 2023. NUTRITION PROGRAMS WERE ATTENDED BY 3,540, COVERING TOPICS SUCH FAD DIETS, NUTRITION TRENDS, NEW YEAR EATING HABITS, NUTRITION JEOPARDY, PLANT-BASED EATING, AND NUTRITION AND DIABETES.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $54,733,663
Program Service Revenue $1,055,445,485
Investment Income $9,641,569
Other Revenue $33,252,229
TOTAL REVENUE $1,153,072,946

Expense Breakdown

Grants Paid $127,498,284
Salaries & Benefits $400,103,419
Fundraising Expenses $0
Program Expenses $784,330,283
Other Expenses $507,751,391
TOTAL EXPENSES $1,035,353,094

Year-over-Year Comparison

2023 2022 Change
Revenue $1,153,072,946 $1,059,746,501 +0.1%
Expenses $1,035,353,094 $938,302,747 +0.1%
Net Income $117,719,852 $121,443,754 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
18
Employees
4635
Volunteers
900

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$4,063,011
Total Directors
19
$2,932,436
Key Employees
2
$1,441,823
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AUDREY MEYERS PRESIDENT & CEO, VHS 10.80
Officer Director
$0 $52,035 $2,932,436
KEVIN LOBO CHAIR 0.10
Officer Director
$0 $0 $0
FRANK J SHEEHY VICE CHAIR 0.10
Officer Director
$0 $0 $0
ANN LIMBERG VICE CHAIR 0.10
Officer Director
$0 $0 $0
JOSEPH MARION TREASURER 0.10
Officer Director
$0 $0 $0
DENIS SALAMONE SECRETARY 0.10
Director
$0 $0 $0
JUDY BASELICE TRUSTEE 0.10
Director
$0 $0 $0
JAMES BUSH TRUSTEE 0.10
Director
$0 $0 $0
VINCENT FORLENZA CHAIR EMERITUS 0.10
Director
$0 $0 $0
MICHELLE HASSON TRUSTEE 0.10
Director
$0 $0 $0
M SHAWN KENNEDY TRUSTEE 0.10
Director
$0 $0 $0
BRUCE MACTAS TRUSTEE 0.10
Director
$0 $0 $0
DUANE SACHS TRUSTEE 0.10
Director
$0 $0 $0
SCOTT SCHROEDER TRUSTEE 0.10
Director
$0 $0 $0
EDWARD B SELF MD TRUSTEE 0.10
Director
$0 $0 $0
STEVEN SILVERSTEIN TRUSTEE 0.10
Director
$0 $0 $0
JEFFREY TUCKER TRUSTEE 0.10
Director
$0 $0 $0
PATRICIA VERDUIN TRUSTEE 0.10
Director
$0 $0 $0
WAYNE WALD ESQ TRUSTEE 0.10
Director
$0 $0 $0
WILLIAM KLUTKOWSKI SR. VP, FINANCE & CFO 12.00
Officer
$0 $51,469 $1,130,575
CHARLES VANNOY VP/CNO, PATIENT CARE SVCS 40.00
Key Emp
$565,180 $48,065 $613,245
KARTEEK BHAVSAR SR. VP, OPERATIONS & BUSIN 20.00
Key Emp
$800,778 $27,800 $828,578
JOSEPH YALLOWITZ VP & CHIEF MEDICAL OFFICER 40.00
Highest
$878,446 $54,392 $932,838
PETER DIESTEL TRANSITIONAL CONSULTANT 40.00
Highest
$647,018 $52,521 $699,539
DAVID BOHAN VP & CHIEF DEVELOPMENT OFF 4.00
Highest
$643,957 $30,891 $674,848
BRAD HASPEL VP, ANCILLARY SERVICES 40.00
Highest
$439,719 $28,736 $468,455
BETTYANN KEMPIN VP, ADMINISTRATION 40.00
Highest
$417,104 $45,985 $463,089
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,153,072,946 $1,035,353,094 $2,368,786,881 $117,719,852
2022 $1,059,746,501 $938,302,747 $2,192,208,083 $121,443,754
2021 $1,000,529,103 $855,859,930 $2,214,086,950 $144,669,173
2020 $897,397,023 $843,490,125 $2,094,706,375 $53,906,898
2020 $897,397,023 $843,490,125 $2,094,706,375 $53,906,898
2019 $860,142,109 $746,811,672 $1,846,770,409 $113,330,437
2019 $860,142,109 $746,811,672 $1,846,770,409 $113,330,437
2018 $759,003,505 $720,825,562 $1,249,287,053 $38,177,943
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