Hackensack Meridian Health Inc

EIN: 223474145 501(c)(3) Health Care

EDISON, NJ

Total Revenue
$60,482,688
Total Expenses
$81,092,608
Total Assets
$4,039,269,712
Net Assets
$422,614,673
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NJ
Phone
9086756572
Tax Period
2023-01-01 to 2023-12-31

Hackensack Meridian Health Inc, founded in 1997, is a mid-sized nonprofit in the Health Care sector that reported $60.5M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $81.1M exceeded revenue, resulting in a 34% operating deficit.

Mission

THE ORGANIZATION IS COMMITTED TO PROVIDING THE FULL SPECTRUM OF LIFE ENHANCING CARE AND SERVICES TO CREATE AND SUSTAIN HEALTHY, VIBRANT COMMUNITIES.

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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 $106,210,755
Program Service Revenue $25,967,666
Investment Income $-73,246,535
Other Revenue $1,550,802
TOTAL REVENUE $60,482,688

Expense Breakdown

Grants Paid $0
Salaries & Benefits $14,394,158
Fundraising Expenses $0
Program Expenses $80,867,249
Other Expenses $66,698,450
TOTAL EXPENSES $81,092,608

Year-over-Year Comparison

2023 2022 Change
Revenue $60,482,688 $89,245,237 -0.3%
Expenses $81,092,608 $57,961,144 +0.4%
Net Income $-20,609,920 $31,284,093 -1.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
22
Independent Members
21
Employees
N/A
Volunteers
21

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
6
$10,652,151
Total Directors
25
$7,784,322
Key Employees
11
$20,050,219
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A TRUSTEE/CHAIRPERSON 3.0
Officer Director
$3,779 $0 $3,779
N/A TRUSTEE/SECRETARY 3.0
Officer Director
$0 $0 $0
N/A TRUSTEE/VICE CHAIRPERSON 3.0
Officer Director
$0 $0 $0
N/A TRUSTEE/TREASURER 3.0
Officer Director
$0 $0 $0
N/A CEO/TRUSTEE 3.0
Officer Director
$0 $60,582 $7,772,269
N/A TRUSTEE (TERMED 6/28/2023) 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$4,495 $0 $4,495
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE (TERMED 11/16/2023) 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE (TERMED 11/20/2023) 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$3,779 $0 $3,779
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A PRES FIN/IT SVCS CFO 3.0
Officer
$0 $52,431 $2,876,103
N/A EVP CO-CHF LEGAL OFFICER 3.0
Key Emp
$0 $57,466 $1,465,941
N/A EVP CO-CHF LEGAL OFFICER 3.0
Key Emp
$0 $67,291 $1,965,979
N/A CHIEF PHYSICIAN EXECUTIVE 3.0
Key Emp
$0 $55,669 $1,946,588
N/A REG PRES HOSPITALS 3.0
Key Emp
$0 $57,684 $2,469,672
N/A EVP, Chief Strategy Officer 3.0
Key Emp
$0 $49,408 $1,743,551
N/A DEAN OF SCHOOL OF MEDICINE 3.0
Key Emp
$0 $32,103 $1,562,945
N/A EVP, CHIEF GROWTH OFFICER 3.0
Key Emp
$0 $116,323 $819,921
N/A Chief Devel Officer 3.0
Key Emp
$0 $46,755 $1,228,298
N/A EVP Chief Exp Off 3.0
Key Emp
$0 $19,059 $1,525,967
N/A CHIEF OPERATING OFFICER 3.0
Key Emp
$0 $45,404 $3,190,590
N/A PRES POP HEALTH 3.0
Key Emp
$0 $219,780 $2,130,767
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 $60,482,688 $81,092,608 $4,039,269,712 $-20,609,920
2022 $89,245,237 $57,961,144 $3,476,715,183 $31,284,093
2021 $570,011,580 $85,867,136 $4,603,504,808 $484,144,444
2020 $151,034,525 $77,696,166 $4,474,254,486 $73,338,359
2019 $139,229,384 $63,244,617 $2,407,834,204 $75,984,767
2018 $209,349,249 $47,131,958 $2,098,362,577 $162,217,291
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