Palisades Medical Center Inc

Overview

Mission

To enhance the health status of the diverse communities served and to deliver patient care in a safe and nurturing environment consistent with the highest standards of excellence, quality and efficiency. Please refer to the organization's community benefit statement included in schedule o.

What it reported doing in 2015

Expenses incurred in providing medically necessary emergency department services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. Please refer to schedule o for the organization's community benefit statement.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
221487278
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
North Bergen, NJ, USA
Phone
2018545226
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$164,785,999
Expenses
$154,717,073
Assets
$127,202,000
Liabilities
$147,950,634

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 89
  • Accountability: 89
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.2%; rating input score 84
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 67th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 81.2%; rating input score 81; 33rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.1%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 1.16; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 84.2% of revenue deployed · 90% of spending went to programs
  • Governance: 13 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $139.2M in reported program spending
  • Leadership: top reported pay $1.5M · 29 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.6M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 10 filed schedules · includes major donors and executive pay
  • Filing history: 6 annual filings from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.

Leadership & pay

29 people listed

Highest reported compensation

  • BRUCE J MARKOWITZ (TRUSTEE - PRESIDENT/CEO): $1,472,623 total reported compensation
  • JOHN CALANDRIELLO FHFMA CPA (VP; CHIEF FINANCIAL OFFICER): $1,073,359 total reported compensation
  • DAVID BERKOWITZ (VP; CHIEF OPERATING OFFICER): $552,871 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015.