HOLY NAME MEDICAL CENTER INC

EIN: 221487322 501(c)(3) Health Care

TEANECK, NJ

Total Revenue
$596,467,503
Total Expenses
$597,781,453
Total Assets
$554,498,202
Net Assets
$303,723,804
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
NJ
Principal Officer
MICHAEL MARON
Phone
2018337016
Tax Period
2024-01-01 to 2024-12-31

HOLY NAME MEDICAL CENTER INC, founded in 1958, is a major nonprofit in the Health Care sector that reported $596.5M in total revenue in fiscal year 2024.

Mission

HOLY NAME MEDICAL CENTER, INC. IS A COMMUNITY OF CAREGIVERS COMMITTED TO A MINISTRY OF HEALING, EMBRACING THE TRADITION OF CATHOLIC PRINCIPLES, THE PURSUIT OF PROFESSIONAL EXCELLENCE AND CONSCIENTIOUS STEWARDSHIP. WE HELP OUR COMMUNITY ACHIEVE THE HIGHEST ATTAINABLE LEVEL OF HEALTH THROUGH PREVENTION, EDUCATION, AND TREATMENT.

Program Service Accomplishments

Program 1
Expenses: $250,245,285 Revenue: $341,252,196

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...

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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.

Program 2
Expenses: $204,058,536 Revenue: $176,630,067

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...

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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.

Program 3
Expenses: $24,360,648 Revenue: $42,327,854

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...

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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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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,843,773
Program Service Revenue $572,798,889
Investment Income $4,659,531
Other Revenue $4,165,310
TOTAL REVENUE $596,467,503

Expense Breakdown

Grants Paid $2,192,511
Salaries & Benefits $242,291,406
Fundraising Expenses $0
Program Expenses $520,891,446
Other Expenses $353,297,536
TOTAL EXPENSES $597,781,453

Year-over-Year Comparison

2024 2023 Change
Revenue $596,467,503 $560,855,952 +0.1%
Expenses $597,781,453 $552,986,664 +0.1%
Net Income $-1,313,950 $7,869,288 -1.2%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
14
Employees
3229
Volunteers
510

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
7
$3,453,062
Total Directors
19
$3,245,617
Key Employees
4
$3,319,600
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL MARON TRUSTEE - PRESIDENT & CEO 55.0
Officer Director
$2,394,978 $58,230 $2,453,208
Vasantha K Kondamudi EVP, Chief Medical Officer 55.0
Key Emp
$990,620 $86,105 $1,076,725
SAIKRISHNAN KANDAMANGALAM EVP, CHIEF INFORMATION OFFICER 55.0
Key Emp
$815,929 $208,223 $1,024,152
JONATHAN H LEE MEDICAL DIRECTOR, ONCOLOGY 55.0
Highest
$897,971 $47,043 $945,014
RYAN KENNEDY CPA EVP/CFO (Term 8/31/24) 55.0
Officer
$604,106 $68,876 $672,982
STEVEN L MOSSER EVP, OPERATIONS 55.0
Key Emp
$548,014 $62,292 $610,306
MICHELE ACITO DNP RN NE-BC EVP, CHIEF NURSING OFFICER 55.0
Key Emp
$572,799 $35,618 $608,417
RAJASEKAR PALANISAMY VP, HEAD OF SOFTWARE DEV 55.0
Highest
$550,668 $56,684 $607,352
Dennis W Sparks VP, Human Resources, CHRO 55.0
Highest
$538,669 $63,259 $601,928
RON WHITE MD DIRECTOR, RISK (term 9/08/24) 55.0
Highest
$516,691 $39,830 $556,521
NANCY PALAMARA VP, DIAGNOSTICS 55.0
Highest
$495,631 $43,877 $539,508
MICHAEL SKVARENINA FORMER KEY EMPLOYEE 0.0
$285,118 $42,532 $327,650
Santo Gencarelli CPA VP, Finance 55.0
Officer
$275,098 $51,774 $326,872
RANDY TARTACOFF MD TRUSTEE - PRESIDENT MED STAFF 55.0
Director
$303,456 $21,600 $325,056
MAUREEN c DONOHUE TRUSTEE 1.0
Director
$0 $39,026 $244,776
Sean O'Rourke FORMER KEY EMPLOYEE 0.0
$241,265 $1,716 $242,981
DAVID BUTLER MD TRUSTEE 55.0
Director
$0 $25,430 $222,577
FERNANDO GARIP CHAIRPERSON - TRUSTEE 1.0
Officer Director
$0 $0 $0
JAMES DOWLING VICE CHAIRPERSON - TRUSTEE 1.0
Officer Director
$0 $0 $0
JOHN M GERAGHTY SECRETARY - TRUSTEE 1.0
Officer Director
$0 $0 $0
TED A CARNEVALE CPA TREASURER - TRUSTEE 1.0
Officer Director
$0 $0 $0
Angelica Berrie Trustee 1.0
Director
$0 $0 $0
Stephen Borg Trustee 1.0
Director
$0 $0 $0
DALE A CREAMER TRUSTEE 1.0
Director
$0 $0 $0
MICHAEL R DRESSLER ESQ TRUSTEE 1.0
Director
$0 $0 $0
Sister Susan Francois Trustee 1.0
Director
$0 $0 $0
JOSEPH A FRASCINO MD TRUSTEE 1.0
Director
$0 $0 $0
Alexandra Garcia-Watts Trustee 1.0
Director
$0 $0 $0
DANIEL LEBER TRUSTEE 1.0
Director
$0 $0 $0
Margarette Lee Esq Trustee 1.0
Director
$0 $0 $0
Selwyn Levine MD Trustee 1.0
Director
$0 $0 $0
SISTER ANTOINETTE MOORE CSJP TRUSTEE 1.0
Director
$0 $0 $0
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 $596,467,503 $597,781,453 $554,498,202 $-1,313,950
2023 $560,855,952 $552,986,664 $492,479,419 $7,869,288
2022 $524,882,640 $546,433,340 $497,398,141 $-21,550,700
2021 $523,084,132 $501,697,935 $528,811,451 $21,386,197
2020 $483,196,582 $445,147,031 $538,902,803 $38,049,551
2019 $462,911,503 $443,684,610 $414,463,274 $19,226,893
2018 $435,766,178 $412,580,544 $367,667,454 $23,185,634
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