Hackensack Meridian Health

Legal name: Hackensack Meridian Health Medical Group- Specialty Care

Overview

Mission

See schedule o.

What it reported doing in 2024

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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
223376459
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Iselin, NJ, US
Phone
844-HMH-WELL
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$900,022,959
Expenses
$900,022,166
Assets
$54,204,993
Liabilities
$169,899,630

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 65
  • Accountability: 42
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 96.6%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th 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: 0%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 3.13; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 19.8% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 17.3% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 17.3% per year; rating input score 100; 90th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 96.6% of revenue deployed · 96.6% of spending went to programs
  • Governance: 0 of 1 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $869.5M in reported program spending
  • Leadership: top reported pay $3.4M · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 38 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.

Leadership & pay

6 people listed

Highest reported compensation

  • DANIEL VARGA (CHIEF PHYSICIAN EXECUTIVE): $3,367,459 total reported compensation
  • MARK ANDERSON (PHYSICIAN): $2,225,037 total reported compensation
  • SIMON SALERNO (PHYSICIAN): $2,067,490 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.