Hackensack Meridian Health Inc

Analysis

Hackensack Meridian Health Inc is a registered charity in United States, based in Edison, NJ. It received its IRS tax-exemption ruling in September 1996, 30 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hackensack Meridian Health Inc reported income of $7.47bn and spending of $7.14bn, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.57bn to $7.47bn (+34%), an average of +7.6% a year. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hackensack Meridian Health Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Memorial Sloan-Kettering Cancer Center ($7.46bn), Memorial Hermann Health System ($7.58bn) and Mayo Clinic ($7.08bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $39.4m (0.6% of expenses). Other salaries and wages came to $2.89bn. It paid $3.2m in professional fundraising fees. At year end it held assets of $7.13bn against liabilities of $1.62bn, net assets of $5.51bn. It reported 40,080 employees.