The Southern New Jersey Hospital W… - 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

1986

Legal Domicile

Principal Officer

Hak Kim

Phone

6096413000

Tax Period

2023-01-01 to 2023-12-31

The Southern New Jersey Hospital Workers Compensation Trust, founded in 1986, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2023. Expenses of $2.8M left a modest 10% surplus.

Mission

TO PROVIDE WORKERS COMPENSATION COVERAGE TO EMPLOYEES OF THE ATLANTICARE REGIONAL MEDICAL CENTER AND OTHER RELATED ENTITIES IN COMPLIANCE WITH NJ COMPENSATION LAWS.

Program Service Accomplishments

Program 1

Expenses: $2,694,667 Revenue: $2,820,000

ORGANIZATION PROVIDES WORKERS COMPENSATION COVERAGE TO EMPLOYEES OF THE ATLANTICARE REGIONAL MEDICAL CENTER AND OTHER RELATED ENTITIES IN COMPLIANCE WITH NJ COMPENSATION LAWS

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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 $2,820,000

Investment Income $267,396

Other Revenue $0

TOTAL REVENUE $3,087,396

Expense Breakdown

Grants Paid $0

Salaries & Benefits $387,216

Fundraising Expenses $0

Program Expenses $2,694,667

Other Expenses $2,403,845

TOTAL EXPENSES $2,791,061

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,087,396	$2,903,059	+0.1%
Expenses	$2,791,061	$3,545,374	-0.2%
Net Income	$296,335	$-642,315	-1.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PNC BANK NA	Trustee	1.0		$6,352	$0	$6,352
AtlantiCare REGIONAL MEDICAL CENTER	Trustee	1.0		$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	$3,087,396	$2,791,061	$5,817,416	$296,335
2022	$2,903,059	$3,545,374	$5,532,250	$-642,315
2021	$2,821,382	$3,205,717	$5,612,236	$-384,335
2020	$1,411,040	$1,761,927	$6,041,775	$-350,887
2020	$2,719,732	$3,220,488	$6,283,323	$-500,756
2019	$2,781,366	$3,231,526	$6,798,406	$-450,160
2018	$2,722,955	$3,194,843	$7,461,105	$-471,888

The Southern New Jersey Hospital Workers Compensation Trust