Atlantic Health System Inc

EIN: 223380375 501(c)(3) Health Care

MORRISTOWN, NJ

Total Revenue
$9,524,927
Total Expenses
$7,015,883
Total Assets
$169,462,646
Net Assets
$121,062,326
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
NJ
Principal Officer
Michael Walter
Phone
9736606100
Tax Period
2023-01-01 to 2023-12-31

Atlantic Health System Inc, founded in 1996, is a community nonprofit in the Health Care sector that reported $9.5M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.5M, a strong 26% operating margin.

Mission

Establish, maintain, sponsor, and promote activities relating to the improvement of human health and the provision of care to the sick or injured through its wholly owned subsidiary, AHS Hospital Corp. via the processing of clinical research trials. The system provides the Hospital Corp and Subsidiaries with general and professional liability coverage under a self-insurance plan and through an affiliated entity.

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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 $5,949,426
Investment Income $944,800
Other Revenue $2,630,701
TOTAL REVENUE $9,524,927

Expense Breakdown

Grants Paid $5,901,389
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $7,015,883
Other Expenses $1,114,494
TOTAL EXPENSES $7,015,883

Year-over-Year Comparison

2023 2022 Change
Revenue $9,524,927 $7,573,385 +0.3%
Expenses $7,015,883 $6,825,762 +0.0%
Net Income $2,509,044 $747,623 +2.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
14
Employees
N/A
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
5
$20,577,440
Total Directors
16
$9,606,671
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brian Gragnolati President & CEO 2.00
Officer Director
$0 $1,137,448 $9,510,516
Christopher R Reidy Trustee-AHS 2.00
Director
$0 $0 $0
Samanatha Pozner Trustee-AHS 2.00
Director
$0 $0 $96,155
Grant Parr MD Trustee-AHS 2.00
Director
$0 $0 $0
John F Vigorita MD Trustee-AHS 2.00
Director
$0 $0 $0
Laura Ann Kelly-Vice Chair Trustee-AHS 2.00
Director
$0 $0 $0
Richard W Herbst Trustee-AHS 2.00
Director
$0 $0 $0
Robert E McCracken-Chair Trustee-AHS 2.00
Director
$0 $0 $0
Finn Wentworth Trustee-AHS 2.00
Director
$0 $0 $0
Sean Nicholson Trustee-AHS 2.00
Director
$0 $0 $0
Dennis Wilson Trustee-AHS 2.00
Director
$0 $0 $0
Jeanine Liburd Trustee-AHS 2.00
Director
$0 $0 $0
Arthur Orduna Trustee-AHS 2.00
Director
$0 $0 $0
Justice Jaynee LaVecchia Trustee-AHS 2.00
Director
$0 $0 $0
Mai Pham MD Trustee-AHS 2.00
Director
$0 $0 $0
Michael Ranger Trustee-AHS 2.00
Director
$0 $0 $0
Kevin Lenahan EVP-Chief Bus & Strategy O 2.00
Officer
$0 $406,954 $7,161,469
Sheilah O'Halloran EVP-General Counsel 2.00
Officer
$0 $272,919 $1,889,266
Katharine Driebe VP - Finance 2.00
Officer
$0 $119,910 $907,428
Michael Walter SVP-Chief Financial Office 2.00
Officer
$0 $137,577 $1,108,761
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 $9,524,927 $7,015,883 $169,462,646 $2,509,044
2022 $7,573,385 $6,825,762 $133,364,306 $747,623
2021 $14,314,039 $8,736,491 $129,133,842 $5,577,548
2020 $9,925,570 $7,111,663 $129,103,678 $2,813,907
2019 $7,970,342 $5,952,604 $130,146,139 $2,017,738
2018 $4,638,600 $4,607,594 $126,151,730 $31,006
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