RWJBH CORPORATE SERVICES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

MARK E MANIGAN

Phone

9733224032

Tax Period

2023-01-01 to 2023-12-31

RWJBH CORPORATE SERVICES INC, founded in 1982, is a large national nonprofit in the Health Care sector that reported $1.7B in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $1.5B left a modest 10% surplus.

Mission

THE ORGANIZATION IS AN AFFILIATE WITHIN RWJBARNABAS HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM. THE ORGANIZATION IS A SUPPORTING ORGANIZATION OF THE RWJBARNABAS HEALTH TAX-EXEMPT HOSPITALS AND MEDICAL CENTERS. THE ORGANIZATION SUPPORTS VARIOUS RWJBARNABAS HEALTH ENTITIES WHICH ARE AFFILIATES WITHIN A TAX-EXEMPT NOT-FOR-PROFIT INTEGRATED HEALTHCARE DELIVERY SYSTEM IN NEW JERSEY WHOSE CHARITABLE PURPOSES INCLUDE PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES TO THE COMMUNITY AND ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $1,004,647,474 Revenue: $1,142,121,688

EXPENSES INCURRED IN SUPPORTING RWJBARNABAS HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM BY PROVIDING INTEGRAL CORPORATE SERVICES. RWJBARNABAS HEALTH PROVIDES MEDICALLY NECESSARY...

EXPENSES INCURRED IN SUPPORTING RWJBARNABAS HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM BY PROVIDING INTEGRAL CORPORATE SERVICES. RWJBARNABAS HEALTH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.

Program 2

Expenses: $356,659,446 Revenue: $396,288,273

EXPENSES INCURRED FOR ALL COVERED RWJBARNABAS HEALTH EMPLOYEES RELATING TO RWJBARNABAS HEALTH'S SELF-INSURED HEALTH PLAN, INCLUDING MEDICAL CLAIMS AND PRESCRIPTIONS.

Program 3

Expenses: $16,434,198 Revenue: $28,211,485

EXPENSES INCURRED IN OPERATING RWJBH ACCOUNTABLE CARE, LLC, AN ACCOUNTABLE CARE ORGANIZATION WHOSE SOLE MEMBER IS RWJBH CORPORATE SERVICES, INC.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,511,263

Program Service Revenue $1,566,621,446

Investment Income $126,815,785

Other Revenue $260,804

TOTAL REVENUE $1,706,209,298

Expense Breakdown

Grants Paid $0

Salaries & Benefits $480,139,612

Fundraising Expenses $0

Program Expenses $1,377,741,118

Other Expenses $1,050,683,853

TOTAL EXPENSES $1,530,823,465

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,706,209,298	$1,387,085,254	+0.2%
Expenses	$1,530,823,465	$1,259,135,060	+0.2%
Net Income	$175,385,833	$127,950,194	+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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

4341

Volunteers

N/A

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

$17,145,250

Total Directors

$9,255,335

Key Employees

$30,749,445

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARRY H OSTROWSKY	FORMER OFFICER	0.0		$7,456,506	$0	$7,456,506
MARK E MANIGAN	TRUSTEE - PRESIDENT/CEO	60.0	Officer Director	$5,993,545	$1,282,166	$7,275,711
JOHN W DOLL CPA	SR. EVP, CHIEF OPERATING OFF.	60.0	Officer	$5,288,653	$1,172,566	$6,461,219
THOMAS A BIGA	EVP, PRESIDENT NW REGION	55.0	Key Emp	$3,161,038	$630,360	$3,791,398
GARY S HORAN	PRES/CEO-TRMC(TERM 4/14/23)	55.0	Highest	$3,720,585	$2,293	$3,722,878
WILLIAM S ARNOLD	EVP, PRESIDENT SOUTHERN REGION	55.0	Key Emp	$2,397,166	$569,865	$2,967,031
MICHAEL PRILUTSKY	EVP, PRESIDENT NE REGION	55.0	Key Emp	$1,929,922	$379,716	$2,309,638
RICHARD L DAVIS	PRESIDENT/CEO - CBMC	55.0	Highest	$1,776,594	$291,954	$2,068,548
DAVID A MEBANE ESQ	TRUSTEE - EVP, GENERAL COUNSEL	55.0	Officer Director	$1,616,025	$363,599	$1,979,624
DEBRA LIENHARDT	EVP, chief bus dev off.	55.0	Key Emp	$1,528,498	$373,690	$1,902,188
PATRICK KNAUS	EVP, CHIEF STRATEGY OFFICER	55.0	Key Emp	$1,531,757	$345,817	$1,877,574
DARRELL TERRY	PRESIDENT/CEO - NBIMC	55.0	Highest	$1,344,893	$515,923	$1,860,816
GLENN MILLER	EVP, CHIEF DEVELOPMENT OFFICER	55.0	Key Emp	$1,427,226	$336,848	$1,764,074
NANCY HOLECEK	EVP, CHIEF NURSING OFFICER	55.0	Key Emp	$1,378,057	$348,685	$1,726,742
RURIC C ANDERSON MD	EVP, CHIEF MED & QUALITY OFF.	55.0	Key Emp	$1,279,809	$368,947	$1,648,756
ROBERT G IRWIN	EVP, CHIEF INTEGRATION OFFICER	55.0	Key Emp	$1,314,924	$266,174	$1,581,098
MICHAEL E KNECHT	EVP, CHIEF MARKETING & COMM.	55.0	Key Emp	$1,274,043	$287,051	$1,561,094
PAUL G ALEXANDER MD	EVP, CHIEF HEALTH EQUITY/CTO	55.0	Key Emp	$1,270,743	$264,374	$1,535,117
FRANK PIPAS CPA	EVP, CHIEF FINANCIAL OFFICER	60.0	Officer	$1,162,302	$266,394	$1,428,696
STEPHEN K BARRY	EVP, FACILITIES MANAGEMENT	55.0	Key Emp	$1,092,040	$314,910	$1,406,950
DEANNA L MINUS-VINCENT	EVP, CSJO (Term 3/29/23)	55.0	Key Emp	$1,378,274	$54	$1,378,328
KAREN LUMPP	SVP, CFO-TRMC (TERM 10/6/23)	55.0	Highest	$1,363,226	$3,156	$1,366,382
ROBERT T ADAMSON	EVP, CHIEF INFO. OFFICER	55.0	Key Emp	$1,045,148	$315,194	$1,360,342
INDU LEW	EVP, chief of staff	55.0	Key Emp	$1,045,649	$306,591	$1,352,240
JOHN F BONAMO MD MS	FORMER KEY EMPLOYEE	0.0		$1,342,411	$7,589	$1,350,000
TRINA PARKS	evp,chf corp div(term 3/29/23)	55.0	Key Emp	$1,262,875	$3,654	$1,266,529
GREGORY ROKOSZ MD	SVP, VPMA-CBMC(TERM 3/29/23)	55.0	Highest	$1,225,369	$1,974	$1,227,343
MARY DENO	SVP, CHIEF HR OFFICER	55.0	Key Emp	$895,478	$171,254	$1,066,732
MARTIN S EVERHART	FORMER KEY EMPLOYEE	0.0		$900,000	$0	$900,000
GEORGE HELMY	EVP,CHF Ext affrs(EFF 9/29/23)	55.0	Key Emp	$201,457	$52,157	$253,614
MARC E BERSON	CHAIR-TRUSTEE (DECD. 12/2/23)	1.0	Officer Director	$0	$0	$0
JACK MORRIS	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	No data	No data	No data	No data
2023	$1,706,209,298	$1,530,823,465	$5,337,159,148	$175,385,833
2022	$1,387,085,254	$1,259,135,060	$6,094,222,613	$127,950,194
2021	$1,417,493,962	$1,021,310,565	$7,403,719,280	$396,183,397
2020	$1,170,199,726	$914,006,628	$6,701,827,004	$256,193,098
2019	$982,036,480	$780,381,628	$5,518,965,775	$201,654,852
2018	$920,079,317	$720,145,314	$4,403,835,347	$199,934,003