MONMOUTH MEDICAL CENTER-FACULTY PR… - Form 990 Financial Data

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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

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. MONMOUTH MEDICAL CENTER, A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $16,039,269 Revenue: $4,989,696

THE ORGANIZATION PROVIDES PHYSICIAN SERVICES IN CONJUNCTION WITH MONMOUTH MEDICAL CENTER'S MEDICAL EDUCATION TEACHING PROGRAM. MONMOUTH MEDICAL CENTER, A RELATED INTERNAL REVENUE CODE SECTION...

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

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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 $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

Governance

Voting Members

Independent Members

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

$1,187,446

Total Directors

$495,591

Key Employees

Highest Compensated

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

MONMOUTH MEDICAL CENTER-FACULTY PRACTICE PLAN