Hackensack Meridian Health Inc

Analysis

Hackensack Meridian Health Inc is a registered charity in United States, based in Iselin, NJ. It received its IRS tax-exemption ruling in January 2002, 24 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation (type iii functionally integrated) 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 $60.5m and spending of $81.1m, spending 134% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $209.3m to $60.5m (-71%), an average of -22% a year. The sharpest change came in the year to December 2021, when income rose by 277%. Over the whole period it spent 34% 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 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include Community Health Systems Inc ($60.4m), Primary Health Care Inc ($60.5m) and National Association of Community Health Centers Inc ($60.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 176% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $12k (0.0% of expenses). Other salaries and wages came to $12.3m. At year end it held assets of $4.04bn against liabilities of $3.62bn, net assets of $422.6m.