THE VALLEY HOSPITAL FOUNDATION INC

EIN: 222324554 501(c)(3) Health Care

RIDGEWOOD, NJ

Total Revenue
$15,001,805
Total Expenses
$17,757,492
Total Assets
$53,150,654
Net Assets
$51,344,094
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
NJ
Principal Officer
DAVID BOHAN
Phone
2012916300
Tax Period
2023-01-01 to 2023-12-31

THE VALLEY HOSPITAL FOUNDATION INC, founded in 1980, is a mid-sized nonprofit in the Health Care sector that reported $15.0M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $17.8M exceeded revenue, resulting in a 18% operating deficit.

Mission

THE VALLEY HOSPITAL FOUNDATION IS THE PHILANTHROPIC COMPONENT OF VALLEY HEALTH SYSTEM. IT'S PRIMARY FUNCTION IS TO SECURE CHARITABLE CONTRIBUTIONS FROM INDIVIDUALS, CORPORATIONS, FOUNDATIONS, AND OTHER FUNDING ENTITIES, TO MANAGE THOSE GIFTS, AND TO DISTRIBUTE THEM IN ACCORDANCE WITH ITS CHARTER. CHARITABLE FUNDS RAISED FOR THE HOSPITAL SUPPORT CONSTRUCTION, CAPITAL IMPROVEMENTS, MEDICAL TECHNOLOGY, BIOMEDICAL RESEARCH, EDUCATION, ENDOWMENTS, AND SPECIAL PROJECTS. FUNDS RAISED FOR VALLEY HOME CARE SUPPORT THE PROGRAMS OF THE AGENCY, SUCH AS HOSPICE, JOURNEYS, MATERNAL CHILD HEALTH, AND ENDOWMENTS. FUNDS RAISED FOR VALLEY MEDICAL GROUP SUPPORT PROGRAMS, CAPITAL IMPROVEMENTS, MEDICAL TECHNOLOGY, EDUCATION AND SPECIAL PROJECTS.

Program Service Accomplishments

Program 1
Expenses: $14,362,656

THE FOUNDATION HAS EVALUATED THE NEEDS OF VALLEY HEALTH SYSTEM AND SEEKS TO SECURE FUNDING FOR FOUR DIFFERENT CASES: CONSTRUCTION COSTS FOR THE VALLEY HOSPITAL IN PARAMUS, CAPITAL AND TECHNOLOGICAL...

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THE FOUNDATION HAS EVALUATED THE NEEDS OF VALLEY HEALTH SYSTEM AND SEEKS TO SECURE FUNDING FOR FOUR DIFFERENT CASES: CONSTRUCTION COSTS FOR THE VALLEY HOSPITAL IN PARAMUS, CAPITAL AND TECHNOLOGICAL IMPROVEMENTS, CLINICAL AND TRANSLATIONAL RESEARCH, AND ENDOWMENTS.VALLEY HEALTH SYSTEM IS 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. KEY SERVICES INCLUDE CARDIOLOGY, ONCOLOGY, WOMEN'S AND CHILDREN'S SERVICES, EMERGENCY CARE, ORTHOPEDICS, AND NEUROSCIENCES. VALLEY HEALTH SYSTEM IS ONE OF THE MOST HONORED HEALTHCARE ORGANIZATIONS IN NEW JERSEY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $13,446,445
Program Service Revenue $0
Investment Income $1,531,471
Other Revenue $23,889
TOTAL REVENUE $15,001,805

Expense Breakdown

Grants Paid $14,362,656
Salaries & Benefits $0
Fundraising Expenses $3,051,926
Program Expenses $14,362,656
Other Expenses $3,205,646
TOTAL EXPENSES $17,757,492

Year-over-Year Comparison

2023 2022 Change
Revenue $15,001,805 $12,118,940 +0.2%
Expenses $17,757,492 $16,577,304 +0.1%
Net Income $-2,755,687 $-4,458,364 -0.4%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
23
Independent Members
21
Employees
N/A
Volunteers
71

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
8
$1,805,422
Total Directors
25
$4,043,410
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EDWARD M RUBIN CHAIRMAN 0.50
Officer Director
$0 $0 $0
VICTOR WORTMANN CHAIRMAN, THRU 6/12/23 0.50
Officer Director
$0 $0 $0
ANDREW GATTO VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
PETER C MARRON VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
RALPH M MASTRANGELO TREASURER 0.50
Officer Director
$0 $0 $0
NANCY V BUSH SECRETARY 0.50
Officer Director
$0 $0 $0
JOSHUA L ABRAMS TRUSTEE 0.50
Director
$0 $0 $0
EPHRAIM CASPER MD TRUSTEE 0.50
Director
$0 $47,321 $1,110,974
SUNNY CHOI MD TRUSTEE, EFFECTIVE 12/2023 0.50
Director
$0 $0 $0
DANIEL P CUMMINGS TRUSTEE, THRU 2/23/23 0.50
Director
$0 $0 $0
THEODORE L HARRIS TRUSTEE 0.50
Director
$0 $0 $0
LYNN HOLUBA TRUSTEE 0.50
Director
$0 $0 $0
KAREN KEYES TRUSTEE 0.50
Director
$0 $0 $0
AUDREY MEYERS TRUSTEE - EX OFFICIO 4.00
Director
$0 $52,035 $2,932,436
SURYA N MOHAPATRA TRUSTEE 0.50
Director
$0 $0 $0
LYA PFEIFER ESQ TRUSTEE 0.50
Director
$0 $0 $0
YOLLA RAHAL TRUSTEE 0.50
Director
$0 $0 $0
THOMAS J RAKOWSKI MD TRUSTEE 0.50
Director
$0 $0 $0
MARC SABINO TRUSTEE 0.50
Director
$0 $0 $0
THERESA A SALAMENO TRUSTEE - EX OFFICIO 0.50
Director
$0 $0 $0
JEFFREY SEIDLER TRUSTEE 0.50
Director
$0 $0 $0
EDWARD B SELF JR MD TRUSTEE, EFFECTIVE 12/2023 0.50
Director
$0 $0 $0
ANN MARIE SNYDER TRUSTEE 0.50
Director
$0 $0 $0
ROBERT VAN DYK TRUSTEE 0.50
Director
$0 $0 $0
CHRIS WRAGGE TRUSTEE 0.50
Director
$0 $0 $0
WILLIAM KLUTKOWSKI SR. VP, FINANCE & CFO 0.50
Officer
$0 $51,469 $1,130,575
DAVID J BOHAN VICE PRESIDENT & CDO 36.00
Officer
$0 $30,890 $674,847
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 $15,001,805 $17,757,492 $53,150,654 $-2,755,687
2022 $12,118,940 $16,577,304 $53,391,795 $-4,458,364
2021 $18,375,355 $20,248,309 $62,503,903 $-1,872,954
2020 $15,487,331 $20,099,023 $64,108,394 $-4,611,692
2019 $19,078,520 $60,919,390 $66,696,272 $-41,840,870
2018 $33,662,111 $7,667,643 $103,802,266 $25,994,468
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