SOMC MEDICAL GROUP PC

EIN: 271412183 501(c)(3) Health Care

EDISON, NJ

Total Revenue
$16,496,359
Total Expenses
$16,496,359
Total Assets
$4,309,754
Net Assets
$569,022
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
NJ
Principal Officer
JAMES CLARKE MD
Phone
5513677160
Tax Period
2024-01-01 to 2024-12-31

SOMC MEDICAL GROUP PC, founded in 2010, is a mid-sized nonprofit in the Health Care sector that reported $16.5M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

THE CORPORATION WILL FURTHER THE CHARITABLE AND HEALTHCARE PURPOSES OF HACKENSACK MERIDIAN HEALTH, INC. AND ITS INTERNAL REVENUE CODE 501(C)(3) TAX-EXEMPT AFFILIATES.

Program Service Accomplishments

Program 1
Expenses: $15,561,970 Revenue: $15,454,761

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.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,041,598
Program Service Revenue $15,454,761
Investment Income $0
Other Revenue $0
TOTAL REVENUE $16,496,359

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $15,561,970
Other Expenses $16,496,359
TOTAL EXPENSES $16,496,359

Year-over-Year Comparison

2024 2023 Change
Revenue $16,496,359 $15,259,320 +0.1%
Expenses $16,496,359 $15,258,677 +0.1%
Net Income $0 $643 -1.0%
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

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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
2
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
2
$4,252,662
Total Directors
2
$4,252,662
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENNETH N SABLE MD VICE PRESIDENT & SECRETARY 2.50
Officer Director
$0 $541,200 $2,825,416
JAMES CLARKE MD PRESIDENT & TREASURER 2.50
Officer Director
$0 $46,901 $1,427,246
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 $16,496,359 $16,496,359 $4,309,754 No data
2023 $15,259,320 $15,258,677 $3,719,717 $643
2022 $15,434,671 $15,434,671 $3,715,479 No data
2021 $21,081,550 $21,081,550 $2,802,816 No data
2020 $17,556,296 $17,556,296 $3,243,219 No data
2019 $12,483,097 $12,483,097 $1,204,570 No data
2018 $11,862,205 $11,862,205 $1,045,700 No data
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