Hackensack Meridian Health

Legal name: Hackensack Meridian Health Inc-Subordinates

Nonprofit profile at a glance

EIN
010649794
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Edison, NJ, USA
Phone
9086756572
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Community Health Systems

Official website

Reported finances

Revenue
$8,846,442,863
Expenses
$8,311,698,467
Assets
$7,606,228,788
Liabilities
$1,692,330,815

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

Leadership & pay

271 people listed

Executive titles in this filing

  • Robert C Garrett (CEO/Trustee)
  • Todd Way (Reg President, Hospitals)

Highest reported compensation

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

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hackensack Meridian Health brings together leading-edge care, research, and medical education to deliver the best outcomes, and care shaped around the unique needs of every patient we serve. Welcome to the Hackensack Meridian _Health_ family! Our mission is to transform health care in New Jersey and beyond…and we live this mission every day. We are extremely proud to be 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. Here you’ll find the information, resources and tools that will help you to be successful at HMH. From great benefits and innovative wellness programs, to robust learning and development opportunities, we continue to cultivate an exceptional work environment where you can do the kind of work that leads to fulfillment and professional gr.

What it reported doing in 2024

Acute care: expenses incurred in providing medically necessary acute care services, including inpatient cardiac, pediatrics and rehabilitation services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin, religion or ability to pay. During 2024, there were 160,998 cases resulting in 838,753 patient days.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 94% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 82
  • Accountability: 89
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 89.8%; rating input score 90
  • Fundraising efficiency: $10.12 raised per $1 spent on fundraising; rating input score 42; 42nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 31st 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: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 80.9%; rating input score 81; 29th 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%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.92; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 17.2% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 76th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 84.8% of revenue deployed · 89.8% of spending went to programs
  • Governance: 186 of 230 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $7.5B in reported program spending
  • Leadership: top reported pay $13.5M · 271 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 47 of 48 current checks pass · 1 finding to review
  • Schedules: 14 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 125 filed money-flow records
  • Related organizations: 121 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 — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.