PALISADES MEDICAL ASSOCIATES LLC

EIN: 223814193 501(c)(3) Health Care

EDISON, NJ

Total Revenue
$22
Total Expenses
N/A
Total Assets
$29,791,193
Net Assets
$29,788,228
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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
2001
Legal Domicile
NJ
Principal Officer
DANIEL VARGA
Phone
9086756572
Tax Period
2023-01-01 to 2023-12-31

PALISADES MEDICAL ASSOCIATES LLC, founded in 2001, is a micro nonprofit in the Health Care sector that reported $22 in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring.

Mission

THE COMPANY IS OPERATED EXCLUSIVELY FOR THE SOLE PURPOSE OF SUPPORTING AND FURTHERING THE CHARITBLE PURPOSE OF PROVIDING MEDICAL SERVICES TO THE PATIENTS OF HMH HOSPTIALS CORPORATION.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES DIRECTLY TO PATIENTS THROUGH THE PHYSICIANS EMPLOYED BY THE CORPORATION. ALSO, PROVIDING ADMINISTRATIVE, SUPERVISORY, TEACHING, COVERAGE AND RESEARCH...

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PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES DIRECTLY TO PATIENTS THROUGH THE PHYSICIANS EMPLOYED BY THE CORPORATION. ALSO, PROVIDING ADMINISTRATIVE, SUPERVISORY, TEACHING, COVERAGE AND RESEARCH SERVICES TO HMH HOSPITALS CORPORATION; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, IN FURTHERANCE OF ITS PRIMARY TAX-EXEMPT PURPOSE IN PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, RELIGION OR ABILITY TO PAY. ACCORDINGLY, THE CORPORATION IS AN INTEGRAL PART OF HACKENSACK MERIDIAN HEALTH; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK.

Program 2
Expenses: $0 Revenue: $0

PROMOTE A CLINICALLY INTEGRATED NETWORK OF HEALTH CARE PROVIDERS WITH THE GOAL OF IMPROVING HEALTH OUTCOMES, REDUCING HEALTH CARE COSTS, AND ENHANCING PATIENT EXPERIENCE.

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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 $22
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $22

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $0
Other Expenses $0
TOTAL EXPENSES $0

Year-over-Year Comparison

2023 2022 Change
Revenue $22 $20,140,744 -1.0%
Expenses N/A $20,140,744 -1.0%
Net Income N/A $0 N/A
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
1
Independent Members
N/A
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
1
$1,946,588
Total Directors
1
$1,946,588
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Daniel Varga Chief Physician Executive 2.50
Officer Director
$0 $55,669 $1,946,588
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 $22 No data $29,791,193 No data
2022 $20,140,744 $20,140,744 $40,366,215 No data
2021 $17,272,240 $17,272,240 $22,407,645 No data
2020 $15,525,249 $15,525,249 $3,105,958 No data
2019 $19,764,164 $19,764,164 $2,197,502 No data
2018 $13,866,739 $13,866,739 $4,247,195 No data
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