MONMOUTH MEDICAL CENTER-FACULTY PRACTICE PLAN

EIN: 223357053 501(c)(3) Health Care

OCEANPORT, NJ

Total Revenue
$4,989,696
Total Expenses
$17,821,410
Total Assets
$2,113,744
Net Assets
$-197,775,641
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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
1995
Legal Domicile
NJ
Principal Officer
kenneth m granet md
Phone
9733224032
Tax Period
2023-01-01 to 2023-12-31

MONMOUTH MEDICAL CENTER-FACULTY PRACTICE PLAN, founded in 1995, is a community nonprofit in the Health Care sector that reported $5.0M in total revenue in fiscal year 2023. Expenses of $17.8M exceeded revenue, resulting in a 257% operating deficit.

Mission

PHYSICIAN SERVICES IN CONJUNCTION WITH MONMOUTH MEDICAL CENTER'S MEDICAL EDUCATION AND TEACHING PROGRAM; A RELATED INTERNAL REVENUE CODE 501(C)(3) TAX-EXEMPT ORGANIZATION.

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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 $0
Program Service Revenue $4,989,696
Investment Income $0
Other Revenue $0
TOTAL REVENUE $4,989,696

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,655,647
Fundraising Expenses $0
Program Expenses $16,039,269
Other Expenses $14,165,763
TOTAL EXPENSES $17,821,410

Year-over-Year Comparison

2023 2022 Change
Revenue $4,989,696 $4,729,204 +0.1%
Expenses $17,821,410 $16,613,212 +0.1%
Net Income $-12,831,714 $-11,884,008 +0.1%
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

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Governance

Voting Members
38
Independent Members
34
Employees
129
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
7
$1,187,446
Total Directors
44
$495,591
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Alexander B King MD Physician (TERMED 12/23) 55.0
Highest
$2,081,851 $60,336 $2,142,187
DMITRY OLEYNIKOV MD CHAIRMAN 55.0
Highest
$776,471 $44,434 $820,905
Kenneth M Granet MD CMO 55.0
Officer
$0 $127,488 $766,745
IAN T COHEN MD CHAIRMAN (TERMED 11/23) 55.0
Highest
$633,481 $14,022 $647,503
ROBERT GRAEBE MD CHAIRMAN 55.0
Highest
$565,797 $57,332 $623,129
ROBERT A MASSARO MD PHYSICIAN 55.0
Highest
$391,532 $66,705 $458,237
Thomas Heleotis MD VP Medical Affairs (term 2/23) 55.0
Officer
$0 $2,551 $420,701
Douglas Livornese MD Trustee 55.0
Director
$0 $31,513 $392,713
Jeffrey C Lederman DO Trustee; Ex-Officio(Term 5/23) 25.0
Director
$39,998 $0 $39,998
Awani Kumar MD Trustee 25.0
Director
$0 $0 $34,800
Avinash Gupta MD Trustee 25.0
Director
$0 $0 $27,080
Sanjay Kumar MD Trustee (TermED 5/23) 5.0
Director
$0 $0 $1,000
Mary Anne Nagy Chair - Trustee 1.0
Officer Director
$0 $0 $0
Robert Sickel Vice Chair - Trustee 1.0
Officer Director
$0 $0 $0
Ann Unterberg Vice Chair - Trustee 1.0
Officer Director
$0 $0 $0
Anthony P Terracciano Treasurer - Trustee 1.0
Officer Director
$0 $0 $0
Anne Marie Bramnick Esq Trustee 1.0
Director
$0 $0 $0
Richard Crowe Trustee 1.0
Director
$0 $0 $0
Raj Derasagayam PhD Trustee 1.0
Director
$0 $0 $0
Jennifer Edmonds PhD Trustee 1.0
Director
$0 $0 $0
Alyce Franklin Trustee 1.0
Director
$0 $0 $0
Catherine D Franzoni Trustee 1.0
Director
$0 $0 $0
Monique Griffith PsyD Trustee 1.0
Director
$0 $0 $0
Derrick T Griggs Trustee 1.0
Director
$0 $0 $0
John W Heavey Trustee 1.0
Director
$0 $0 $0
Robert P Herrmann Trustee 1.0
Director
$0 $0 $0
Claire M Knopf Trustee; Ex-Officio 1.0
Director
$0 $0 $0
H Woody Knopf Trustee 1.0
Director
$0 $0 $0
Rabbi Aaron Kotler Trustee 1.0
Director
$0 $0 $0
Honorable Lawrence Lawson Trustee 1.0
Director
$0 $0 $0
Zachary Lewis Trustee 1.0
Director
$0 $0 $0
Yesenia Madas Trustee 1.0
Director
$0 $0 $0
James R Maida Trustee 1.0
Director
$0 $0 $0
Lauren Marrus Trustee 1.0
Director
$0 $0 $0
Jackeline Meijas-Fuertes Trustee 1.0
Director
$0 $0 $0
Andrew J Melnick Trustee 1.0
Director
$0 $0 $0
Valerie Montecalvo Trustee 1.0
Director
$0 $0 $0
John Paik Trustee 1.0
Director
$0 $0 $0
Honorable Jamie Perri Trustee 1.0
Director
$0 $0 $0
Luanne Peterpaul Trustee 1.0
Director
$0 $0 $0
Adam Pfeffer Esq Trustee 1.0
Director
$0 $0 $0
Arvind Prabhat MD Trustee; Ex-Officio 1.0
Director
$0 $0 $0
Ronald J Riccio Esq Trustee 1.0
Director
$0 $0 $0
Louis A Rodriguez PE Trustee 1.0
Director
$0 $0 $0
Andrew Safran Trustee 1.0
Director
$0 $0 $0
Mary Anne Schafer Trustee 1.0
Director
$0 $0 $0
Marta Silverberg Trustee 1.0
Director
$0 $0 $0
Victor Ferlise Esq V. Chair-Trustee (Termed 5/23) 1.0
Officer Director
$0 $0 $0
Anne Evans-Estabrook Trustee (Termed 5/23) 1.0
Director
$0 $0 $0
Michael Kokes Trustee (Termed 5/23) 1.0
Director
$0 $0 $0
Darsit Shah MD Trustee (Termed 5/23) 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 $4,989,696 $17,821,410 $2,113,744 $-12,831,714
2022 $4,729,204 $16,613,212 $1,502,392 $-11,884,008
2021 $5,288,901 $15,416,371 $1,624,084 $-10,127,470
2020 $3,109,489 $14,357,656 $1,350,991 $-11,248,167
2019 $4,334,811 $14,089,288 $1,231,207 $-9,754,477
2018 $3,435,501 $13,496,025 $932,044 $-10,060,524
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