HEALTH RESEARCH & EDUCATIONAL TRUST OF NEW JERSEY (EIN 226064970) - Form 990 Financial Analysis & Trantor Score

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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

1964

Legal Domicile

Principal Officer

CHRISTOPHER BAILEY

Phone

6092754000

Tax Period

2023-01-01 to 2023-12-31

HEALTH RESEARCH & EDUCATIONAL TRUST OF NEW JERSEY, founded in 1964, is a community nonprofit in the Health Care sector that reported $2.4M in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $438K, a strong 19% operating margin.

Mission

THE HEALTH RESEARCH AND EDUCATIONAL TRUST OF NEW JERSEY WAS ESTABLISHED IN 1964 BY THE NEW JERSEY HOSPITAL ASSOCIATION (NJHA). THE TRUST'S MISSION IS TO ENGAGE IN RESEARCH AND EDUCATIONAL ACTIVITIES THAT SUPPORT HEALTHCARE PROVIDERS IN DELIVERING ACCESSIBLE, AFFORDABLE, AND QUALITY CARE AND IN FOSTERING WELLNESS IN THEIR COMMUNITIES. THE TRUST QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE, AND ITS INCOME IS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES.

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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 $1,447,099

Program Service Revenue $649,107

Investment Income $266,212

Other Revenue $0

TOTAL REVENUE $2,362,418

Expense Breakdown

Grants Paid $0

Salaries & Benefits $696,362

Fundraising Expenses $0

Program Expenses $1,350,888

Other Expenses $1,228,026

TOTAL EXPENSES $1,924,388

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,362,418	$2,920,507	-0.2%
Expenses	$1,924,388	$2,591,385	-0.3%
Net Income	$438,030	$329,122	+0.3%

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

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

$2,617,863

Total Directors

$1,857,088

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY ELLEN CLYNE	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
KATHLEEN KAMINSKY	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
ALMA S RATCLIFFE	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
CATHLEEN BENNETT	PRESIDENT & CEO	1.00	Officer Director	$0	$55,716	$1,416,477
KAREN FREEMAN	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
JOSEPH DUFFY	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
DONNA R LAWSON	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
VINCENT BARBA	TRUSTEE CLASS OF 2024	1.00	Director	$0	$0	$0
STEPHANIE SCHWARTZ	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
MARK STRAUDER	TREASURER & CHAIRMAN OF FINANCE COMMITTEE	1.00	Director	$0	$0	$0
MEIKA NEBLETT	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
MICHELLE O'KEEFE	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
DEANNA SPERLING	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
CHRISTOPHER BAILEY	ASSISTANT TREASURER	1.00	Officer Director	$0	$52,306	$438,411
JOSE AZAR	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
EDWARD J CONDIT	EX-OFFICIO	1.00	Director	$0	$0	$2,200
FRANK A GHINASSI	CHAIR	1.00	Director	$0	$0	$0
ALAN SICKLES	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
LYDIA STOCKMAN	TRUSTEE CLASS OF 2023	1.00	Director	$0	$0	$0
DEBORAH D VISCONI	SECRETARY	1.00	Director	$0	$0	$0
CINDY A SORG	ASSISTANT SECRETARY	1.00	Officer	$0	$22,429	$113,351
BELINDA B COOPER	CHO	1.00	Officer	$0	$34,986	$274,674
RAYMOND A BRANDES	COO	1.00	Officer	$0	$44,638	$374,950
JENNIFER MARIE BARRET-SRYFI	DIRECTOR, PROGRAM DEVELOP	35.00	Highest	$119,062	$12,211	$131,273
NATALIE JONES	NURSING CONTINUING EDUCATION MANAGER	40.00	Highest	$118,768	$29,106	$147,874

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	$2,362,418	$1,924,388	$6,204,317	$438,030
2022	$2,920,507	$2,591,385	$5,889,155	$329,122
2021	$2,873,918	$3,087,012	$6,730,327	$-213,094
2020	$2,783,108	$3,328,015	$7,180,916	$-544,907
2019	$4,625,747	$4,393,986	$6,999,525	$231,761
2018	$5,490,179	$5,177,890	$5,944,404	$312,289

HEALTH RESEARCH & EDUCATIONAL TRUST OF NEW JERSEY