Raritan Bay Medical Center
Nonprofit profile at a glance
- EIN
- 221494442
- IRS 990 coverage
- 2010–2015
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2015
- Location
- Perth Amboy, NJ, USA
- Phone
- 732-442-3700
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $227,736,863
- Expenses
- $237,036,410
- Assets
- $142,292,673
- Liabilities
- $138,113,169
Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- MICHAEL R D'AGNES (TRUSTEE; EX-OFFICIO - PRES/CEO)
Highest reported compensation
- MICHAEL R D'AGNES (TRUSTEE; EX-OFFICIO - PRES/CEO): $1,000,072 total reported compensation
- THOMAS G SHANAHAN FHFMA CPA (EVP, COO): $586,514 total reported compensation
- ARUNESH K MISHRA MD (PHYSICIAN): $438,556 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Hackensack Meridian Health aims to transform health care and serve as a leader in the health care industry, providing high-quality, compassionate care to patients and communities.
What it reported doing in 2015
Expenses incurred in providing various medically necessary labor, delivery, recovery and postpartum services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin, religion or ability to pay. The organization had 6,912 labor, delivery, recovery and postpartum visits and admissions during 2015. Please refer to the organization's community benefit statement included in schedule o.
Operating model
- Revenue model
- Earned-program. 96% 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.
The verdict
SUPPORTED - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 81
- Accountability: 90
- Sustainability: 21
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.4%; rating input score 91
- 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: Scored; rating input score 0
- 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: 83.3%; rating input score 83; 35th 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: -4.1%; rating input score 13; 13th percentile among comparable filings
- Total-asset coverage ratio: 0.6; rating input score 25; 25th percentile among comparable filings
- Liabilities to assets ratio: 0.97; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 1.9%; rating input score 55; 55th percentile among comparable filings
Growth
- Program expense growth: 2% per year; rating input score 100; 29th percentile among comparable filings
- Revenue growth: -0.4% per year; rating input score 0; 12th percentile among comparable filings
- Asset growth: 1.8% per year; rating input score 100; 24th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 91.4% of revenue deployed · 90% of spending went to programs
- Governance: 15 of 18 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $213.3M in reported program spending
- Leadership: top reported pay $1M · 29 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $17.7M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 6 filing years from 2010 to 2015
- Contacts: How to reach this organization
- Money network: 14 filed money-flow records
- Related organizations: 10 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 scored 0/100.
- High — Sustainability: Operating margin scored 13/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 25/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Review — Sustainability: Officer compensation ratio scored 55/100.