The Valley Hospital Foundation Inc

Nonprofit profile at a glance

EIN
222324554
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Paramus, NJ, USA
Phone
2012916300
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$25,467,508
Expenses
$15,728,060
Assets
$59,525,708
Liabilities
$1,609,079

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

Leadership & pay

30 people listed

Executive titles in this filing

  • DAVID J BOHAN (VICE PRESIDENT & CPO)

Highest reported compensation

  • AUDREY MEYERS (TRUSTEE, EX OFFICIO): $6,647,856 total reported compensation
  • ROBERT W BRENNER MD (TRUSTEE, EX OFFICIO, EFF. JULY 2024): $1,909,865 total reported compensation
  • WILLIAM KLUTKOWSKI (SR. VP, FINANCE & CFO): $1,305,782 total reported compensation

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

Overview

Mission

The valley hospital foundation is the philanthropic component of valley health system. Its primary function is to secure charitable contributions from individuals, corporations, foundations, and other funding entities, to manage those gifts, and to distribute them in accordance with its charter. Charitable funds raised for the hospital support construction, capital improvements, medical technology, biomedical research, education, endowments, and special projects. Funds raised for valley home care support the programs of the agency, such as hospice, journeys, maternal child health, and endowments. Funds raised for valley medical group support programs, capital improvements, medical technology, education, and special projects.

What it reported doing in 2024

The foundation has evaluated the needs of valley health system and seeks to secure funding for four different cases: construction costs for the valley hospital in paramus, capital and technological improvements, clinical and translational research, and endowments.valley health system is a regional healthcare system that serves residents in northern New Jersey and southern New York. It comprises the valley hospital, valley home care, and valley medical group. Key services include cardiology, oncology, women's and children's services, emergency care, orthopedics, and neurosciences. Valley health system is one of the most honored healthcare organizations in New Jersey.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 71
  • Accountability: 79
  • Sustainability: 86
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.3%; rating input score 65
  • Program expense ratio: 78.8%; rating input score 79
  • Fundraising efficiency: $6.43 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87%; rating input score 87; 19th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.2%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 3.78; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 65.3% of revenue deployed · 78.8% of spending went to programs
  • Governance: 20 of 23 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.4M in reported program spending
  • Leadership: top reported pay $6.6M · 30 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $360K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.