Hackensack Meridian Health Medical Group-Specialty Care PC

Analysis

Hackensack Meridian Health Medical Group-Specialty Care PC is a registered charity in United States, based in Iselin, NJ. It received its IRS tax-exemption ruling in August 1999, 27 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hackensack Meridian Health Medical Group-Specialty Care PC reported income of $720.9m and spending of $720.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $140.5m to $720.9m (+413%), an average of +50% a year. The sharpest change came in the year to December 2023, when income rose by 159%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hackensack Meridian Health Medical Group-Specialty Care PC 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 Mainegeneral Health ($694.7m), Manhattan and Bronx Surface Transit Operating Authority ($737.0m) and Dalhousie University ($682.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Other salaries and wages came to $461.6m. At year end it held assets of $39.5m against liabilities of $158.2m, net assets of -$118.7m. It reported 1,531 employees.