Hackensack Meridian Health Inc
90% goes to programs $10 to raise $100 Strong reserves Growing revenue
Hackensack Meridian Health Inc is a 501(c)(3) organization based in Edison, New Jersey, registered in 1996, with $8,846,442,863 in FY2024 revenue. CharityIndex grades it A, and it directs about 90% of spending to programs.
C/o Tax Dept 399 Thornall St 2nd Fl, Edison, NJ, 08837 EIN 01-0649794 Since 1996
Revenue (FY2024)
$8.8B
▲ 18.5% vs prior year
Health median: $840K
Expenses (FY2024)
$8.3B
Net assets
$5.9B
Employees
42,596
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating90% to programs · $10 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Hackensack Meridian Health Inc: 90% to programs · $10 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating9 mo reserves · +6% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Hackensack Meridian Health Inc: 9 mo reserves · +6% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Hackensack Meridian Health Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Hackensack Meridian Health Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
The organizations are committed to providing the full spectrum of life-enhancing care and services to create and sustain healthy, vibrant communities.
What they do
Pharmaceuticals: expenses incurred in providing medically necessary pharmaceutical services and pharmaceuticals, including chemotherapy drugs, to all individuals regardless of race, color, creed, sex, national origin or ability to pay.
Operating room: expenses incurred in providing medically necessary operating room services, including plastic surgery, trauma, pediatric and ambulatory surgery, to all individuals regardless of race, color, creed, sex, national origin or ability to pay. during 2024, the organization registered 113,195 surgical operations.
Providing various other medically necessary healthcare services, such as emergency department, obstetrics & newborns, chemotherapy, oncology, behavioral health, etc., to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay.
Contact & location
- Address
- C/o Tax Dept 399 Thornall St 2nd Fl, Edison, NJ, 08837
- City
- Edison
- State
- New Jersey
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $1.6B (FY2013) to $8.8B (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.7BNet assets $5.9B
Operating margin
6.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$7.6B
Total liabilities
$1.7B
Net assets
$5.9B
Salaries & benefits
$3.8B
46% of expenses
Board members
230
186 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $8,846,442,863▲18.5% | $8,311,698,467▲16.4% | $5,913,897,973▲7.3% | $7,606,228,788▲6.6% | 990 |
| 2023 | $7,466,842,942▲11.9% | $7,143,661,248▲8.3% | $5,511,171,524▲13.6% | $7,132,525,682▲8.0% | 990 |
| 2022 | $6,674,422,433▲4.2% | $6,593,951,459▲7.0% | $4,849,961,025▲15.7% | $6,606,327,564▲5.9% | 990 |
| 2021 | $6,406,920,204▲8.9% | $6,164,788,878▲7.1% | $4,190,172,080▲8.4% | $6,235,809,441▼19.1% | 990 |
| 2020 | $5,882,477,841▲5.7% | $5,756,645,094▲10.1% | $3,865,596,034▲0.8% | $7,707,680,041▲11.5% | 990 |
| 2019 | $5,565,689,162▲9.4% | $5,226,743,815▲9.5% | $3,836,606,905▲16.2% | $6,912,290,355▼3.6% | 990 |
| 2018 | $5,087,427,236▲98.2% | $4,774,210,848▲101% | $3,301,213,046▲59.9% | $7,168,887,311▲105% | 990 |
| 2017 | $2,567,369,098▲3.1% | $2,380,715,868▲6.3% | $2,064,285,172▲17.6% | $3,503,673,072▲3.7% | 990 |
| 2016 | $2,490,406,503▲33.5% | $2,239,199,095▲34.7% | $1,755,651,369▲30.9% | $3,379,438,327▲27.1% | 990 |
| 2015 | $1,865,053,653▲8.0% | $1,661,890,714▲5.1% | $1,340,885,796▲13.9% | $2,659,231,724▲12.2% | 990 |
| 2014 | $1,726,865,800▲7.4% | $1,581,204,513▲5.5% | $1,177,152,056▲7.6% | $2,371,084,364▲8.5% | 990 |
| 2013 | $1,607,860,923 | $1,498,365,954▼3.3% | $1,093,573,063▲25.1% | $2,186,332,852▲6.8% | 990 |
| 2012 | — | $1,550,012,554▲16.2% | $874,083,671▲14.5% | $2,046,341,207▲12.3% | 990 |
| 2011 | — | $1,333,383,115▲10.2% | $763,227,096▲4.5% | $1,822,810,841▲5.1% | 990 |
| 2010 | — | $1,209,566,290 | $730,438,761 | $1,733,738,284 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Robert C Garrett — $10,828,094 (0.13% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Robert C Garrett | Ceo/trustee | 57 | $10,828,094 |
| Mark Stauder | Trustee/chairperson/coo | 52 | $5,309,981 |
| Robert L Glenning | Pres, Fin & It Svcs Div, Cfo/trustee, Secretary/treasurer | 52 | $4,506,332 |
| Patrick Young | Pres, Population Health | 52 | $3,665,554 |
| Daniel Varga Md | Pres, Chief Physician Executive | 52 | $3,076,319 |
| Ihor Sawczuk Md | Pres, Academics, Rsch, & Innov | 52 | $3,051,912 |
| Audrey C Murphy Esq | Evp, Co-chief Legal Officer | 52 | $2,931,200 |
| Ann B Gavzy Esq | Evp, Co-chief Legal Officer | 52 | $2,522,831 |
| Mark D Sparta Md | Trustee/pres, N Reg & Pres, Che, Humc | 55 | $2,509,216 |
| James Blazar | Evp, Chief Strategy Officer | 52 | $2,405,307 |
| Kenneth N Sable Md | Pres, South Reg | 52 | $2,284,216 |
| Linda Mchugh | Trustee/vice Chair, Evp Chief Experience Officer | 52 | $2,247,172 |
| Kash Patel | Evp, Chief Digital and Info Officer (termed 9/30/2024) | 52 | $1,935,728 |
| Joyce Hendricks | Trustee/chief Development Officer | 52 | $1,903,624 |
| Jeffrey Boscamp | Pres & Dean, School of Medicine | 52 | $1,841,652 |
| Anne Goodwill-pritchett | Evp, Revenue Operations (termed 3/9/2024) | 52 | $1,800,187 |
| Todd Way | Reg President, Hospitals | 52 | $1,758,469 |
| Timothy J Hogan | Trustee/evp, Cts & Pres, Che, Rmc | 55 | $1,654,480 |
| Donna Snider Cfa | Svp, Chief Investment Officer | 52 | $1,574,463 |
| James Clarke | Evp & Pres, Physician Services | 55 | $1,380,345 |
Top vendors & contractors (FY2019)
| Contractor | Services | Paid |
|---|---|---|
| Blanchard Turner Joint Venture LLC | Construction | $73,713,383 |
| Divurgent | Consulting | $30,990,772 |
| Comprehensive Pharmacy Services Ll | Medical | $28,674,829 |
| Aya Healthcare Inc | Medical | $18,366,413 |
| Forest Healthcare Associates | Medical | $11,432,694 |
Grants received · $253K total
4 grants to Hackensack Meridian Health Inc totaling $253K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Kaiser Foundation Health Plan of Washington | Research subrecipient | 2024 | $36,959 |
| Blood Cancer United Inc | Research grant | 2021 | $99,000 |
| Blood Cancer United Inc | Research grant | 2018 | $110,000 |
| Hackensack Meridian Health Inc | Sponsorship | 2015 | $6,750 |
Grants made · $468.9M in FY2024
79 grants totaling $468.9M in FY2024 — showing the 15 largest. All grants made by Hackensack Meridian Health Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Hackensack Meridian Health Medical Group-specialty Care PC | Subsidy | $385,781,094 |
| Hackensack Meridian Health Medical Group - Primary Care PC | Subsidy | $61,654,533 |
| Hackensack Meridian Health Medical Group-complex Care PC | Subsidy | $18,208,253 |
| Somc Medical Group PC | Subsidy | $1,041,598 |
| Count Basie Theatre Inc | Sponsorship | $432,500 |
| New Jersey Symphony Orchestra | Sponsorship | $120,700 |
| Wyckoff Family YMCA | Sponsorship | $110,000 |
| The Tom Coughlin Jay Fund Foundation Inc | Sponsorship | $100,000 |
| American Cancer Society Inc | Research support | $87,100 |
| Monmouth Park Charity Fund Inc | Sponsorship | $80,000 |
| Playfly Holdings LLC | Sponsorship | $77,250 |
| Two River Theatre Company | Sponsorship | $75,000 |
| Bergen Performing Arts Center Inc | Sponsorship | $60,000 |
| Sharing Network Foundation Inc | Sponsorship | $55,000 |
| Susan G Komen Breast Cancer Foundation | Sponsorship | $45,000 |
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Frequently asked questions
- Is Hackensack Meridian Health Inc a legitimate nonprofit?
- Yes. Hackensack Meridian Health Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 01-0649794, based in Edison, New Jersey. Donations are tax-deductible.
- What is Hackensack Meridian Health Inc's EIN?
- Hackensack Meridian Health Inc's Employer Identification Number (EIN) is 01-0649794.
- How much revenue does Hackensack Meridian Health Inc report?
- Hackensack Meridian Health Inc reported $8,846,442,863 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Hackensack Meridian Health Inc's spending goes to programs?
- Hackensack Meridian Health Inc spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Hackensack Meridian Health Inc have?
- CharityIndex grades Hackensack Meridian Health Inc A, based on program efficiency and fundraising cost.
- How much does Hackensack Meridian Health Inc's highest-paid employee make?
- The highest reported compensation on Hackensack Meridian Health Inc's latest Form 990 is $10,828,094, paid to Robert C Garrett (Ceo/trustee).
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Data for Hackensack Meridian Health Inc (EIN 01-0649794) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.