Hackensack Meridian Health

Legal name: Hackensack Meridian Health Inc

Overview

Mission

Hackensack Meridian Health is a leading not-for-profit health care organization that is the largest, most comprehensive and truly integrated health care network in New Jersey, offering a complete range of medical services, innovative research, and life-enhancing care.

What it reported doing in 2024

Health care services: 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.

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
223474145
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Iselin, NJ, US
Phone
844-HMH-WELL
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$271,269,165
Expenses
$99,861,149
Assets
$4,895,821,663
Liabilities
$3,655,245,879

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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 47
  • Accountability: 98
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.1%; rating input score 64
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 96.4%; rating input score 96; 49th 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: 63.2%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 49.03; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 6.1%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 18% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 20.5% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 23.1% per year; rating input score 100; 95th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 64.1% of revenue deployed · 99.8% of spending went to programs
  • Governance: 27 of 28 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $99.6M in reported program spending
  • Leadership: top reported pay $13.5M · 42 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $106M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, executive pay, and related organizations
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 42 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.

Leadership & pay

42 people listed

Highest reported compensation

  • Robert C Garrett (CEO/Trustee): $13,541,590 total reported compensation
  • Mark Stauder (Chief Operating Officer): $6,059,233 total reported compensation
  • Robert L Glenning (Pres, Fin & IT Svcs Div, CFO): $4,866,513 total reported compensation

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