2024-06-25T10:32:57-07:00 2022-12-31 990 2022-07-01 813872529 HACKENSACK MERIDIAN SCHOOL OF MEDICINE HACK 9088396787 C/O TAX DEPT 399 THORNALL STREET 2N EDISON NJ 08837 JAMES DEROSA EVP, FINANCE 9088396787 2024-06-25 JAMES DEROSA XXX-XX-XXXX true 3 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z James DeRosa 399 THORNALL STREET 2ND FL EDISON NJ 08837 20661681 false X www.hmsom.org X 2016 NJ A MEDICAL SCHOOL DEDICATED TO EXCELLENCE IN THE TRIPARTITE ACADEMIC MEDICAL MISSIONS OF EDUCATION, SCIENTIFIC RESEARCH, AND CLINICAL CARE. 16 15 116 0 0 0 6798546 4829042 28553706 15712938 0 0 754171 119701 36106423 20661681 6704624 3883663 0 13265871 8072968 0 0 12392017 8473419 32362512 20430050 3743911 231631 39458744 62356147 10470833 29429012 28987911 32927135 X SEE SCHEDULE O false false 20430050 3883663 15843379 PROMOTING THE TRIPARTITE ACADEMIC MEDICAL MISSIONS OF EDUCATION, SCIENTIFIC RESEARCH, AND CLINICAL CARE. 20430050 true true false false false false false false false false true false true false true false false true true false false false false false false false false false true true false false false false false false false false false false false false false true false false false true 0 0 116 true false false false false false false false false false false true false X 16 15 false false false false true true true true true false false true true true true true true true true false X JOSE SEVILLA 2018803006 123 METRO BOULEVARD NUTLEY NJ 07110 X ROBERT C GARRETT FACHE TRUSTEE - CEO, Hackensack Meridian Health 3.00 X X 0 5674424 310355 JEFFREY BOSCAMP DEAN 40.00 X 0 1177028 14552 MIRIAM HOFFMAN ASSOCIATE DEAN- ACADEMIC AFFAIRS 40.00 X 517288 0 50966 STANLEY TERLECKY ASSOCIATE DEAN - RESEARCH/CHAIR M.D. 40.00 X 404371 0 51145 JOHN SCHIAVONE ASSOC DEAN, FINANCE AND OPS 40.00 X 339889 0 30298 LORRAINE SULLIVAN ASSOC DEAN, STDNT AFFAIRS/WELL 40.00 X 288336 0 37527 OFELIA MARTINEZ ASST DEAN, MEDICAL EDUCATION 40.00 X 287561 0 10745 JOHN F WILLIAMS JR MD CHAIRPERSON - TRUSTEE 2.00 X X 0 0 0 MARY ANN CHRISTOPHER VICE CHAIRPERSON - TRUSTEE 2.00 X X 0 0 0 LINDA BOWDEN SECRETARY - TRUSTEE 2.00 X X 0 0 0 FRANK L FEKETE CPA TREASURER - TRUSTEE 2.00 X X 0 0 0 WILLIAM J MONTGORIS TRUSTEE 2.00 X 0 0 0 AMY CRADIC TRUSTEE 2.00 X 0 0 0 ROBERT E O'HARA TRUSTEE 2.00 X 0 0 0 ROBERT HEKEMIAN JR TRUSTEE 2.00 X 0 0 0 RAYMOND CHAMBERS TRUSTEE 2.00 X 0 0 0 ULISES E DIAZ TRUSTEE 2.00 X 0 0 0 VAUGHN MCKOY JD TRUSTEE 2.00 X 0 0 0 RICHARD PARK TRUSTEE 2.00 X 0 0 0 SUZANNE SPERO TRUSTEE 2.00 X 0 0 0 JENNIFER VELEZ JD TRUSTEE 2.00 X 0 0 0 VINCENT AMABILE TRUSTEE 2.00 X 0 0 0 1837445 6851452 505588 37 false true false 4829042 4829042 EDUCATION PROGRAMS 611310 15712182 0 0 MPI 999999 756 0 0 15712938 NET ASSET RELEASE FOUNDATION 900099 119701 119701 0 0 119701 20661681 15832639 0 0 3883663 3883663 6772653 6772653 0 0 157329 157329 0 0 817719 817719 0 0 325267 325267 0 0 12891 12891 0 0 139414 139414 0 0 0 0 0 0 599105 599105 0 0 50131 50131 0 0 67276 67276 0 0 231845 231845 0 0 1542874 1542874 0 0 107938 107938 0 0 61794 61794 0 0 95479 95479 0 0 904253 904253 0 0 22780 22780 0 0 ALLOCATION OF PERSONNEL COSTS 3820332 3820332 0 0 DUES & SUBSCRIPTIONS 258961 258961 0 0 MED SUPPLY 92212 92212 0 0 REPAIRS & MAINTENANCE 30295 30295 0 0 435839 435839 0 0 20430050 20430050 0 0 7130021 14534137 3538969 2721659 1180434 16938019 401611 554000 17966324 2389041 16460447 15577283 10691328 12031049 55934 0 39458744 62356147 1329719 20344239 4500000 4500000 4641114 4584773 10470833 29429012 X 18245067 20844570 10742844 12082565 28987911 32927135 39458744 62356147 X 231631 -701 3708294 X X false true X true true true X 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 9022536 943228 8079308 4059526 599684 3459842 4884262 846129 4038133 15577283 FOUNDATION INTEREST 12031049 F 12031049 Due to Affiliates 2764 Long-Term Debt & Capital Lease Obligation 4582009 4584773 X Pt X, Line 2 PRICEWATERHOUSE COOPERS, L.L.P. AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF HACKENSACK MERIDIAN HEALTH, INC. FOR THE YEAR ENDED DECEMBER 31,2022. THE FOLLOWING DISCLOSURE IS INCLUDED IN THE ORGANIZATION'S INCOME TAX FOOTNOTE INCLUDED IN THE SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FOOTNOTE OF THE 2022 AUDITED CONSOLIDATED FINANCIAL STATEMENTS THAT REPORTS THE ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740): ALL OF THE NOT-FOR-PROFIT ENTITIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS ARE CORPORATIONS AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("CODE") AND ARE EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. PER THE REQUIREMENT TO ASSESS FOR TAX UNCERTAINTY, MANAGEMENT HAS DETERMINED THAT IT DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRED TO BE ACCRUED OR REPORTED. true true true true true true true false false false false false false false false true false true Line 3 HACKENSACK MERIDIAN SCHOOL OF MEDICINE ("HMSOM") RECEIVED PRELIMINARY ACCREDITATION IN 2018 AND PROVISIONAL STATUS IN FEBRUARY 2021 FROM THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION (MSCHE), A BODY OF THE ASSOCIATION OF AMERICAN MEDICAL COLLEGES. HMSOM SUBMITTED ALL REQUIRED DOCUMENTATION FOR AND HOSTED A SITE EVALUATION TEAM THAT REVIEWED THE SCHOOL'S APPLICATION TOWARD FULL ACCREDITATION STATUS. AFTER A ROBUST SEVEN-YEAR REVIEW PROCESS, HMSOM HAS BEEN GRANTED FULL ACCREDITATION BY MSCHE IN FEBRUARY 2023. Line 6b HACKENSACK MERIDIAN SCHOOL OF MEDICINE RECEIVED FINANCIAL AID AND ASSISTANCE FROM THE FOLLOWING GOVERNMENT AGENCIES IN TAX YEAR 2022 INCLUDING: THE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY (NJEDA), THE NEW JERSEY STATE LEGISLATURE, THE STATE OF NEW JERSEY THROUGH THE AMERICAN RESCUE PLAN ACT (ARPA),DEPARTMENT OF LABOR & WORKFORCE DEVELOPMENT OF NEW JERSEY,FEDERAL STUDENT AID PROGRAMS REAUTHORIZED UNDER TITLE IV OF THE HIGHER EDUCATION AMENDMENTS OF 1992. Other LINE 5G: HMSOM DOES NOT HAVE AN ATHLETIC PROGRAM. true HMH SCHOLARSHIPS 294 3896115 0 FMV N/A Pt I Line 2 SCHOLARSHIPS AND HARDSHIP ASSISTANCE ARE AWARDED BASED ON AN ANALYSIS OF CRITERIA OF ESTABLISHED POLICY SET BY HACKENSACK MERIDIAN SCHOOL OF MEDICINE. THE SCHOLARSHIP AND HARDSHIP ASSISTANCE RECIPIENTS ARE SELECTED BY A COMMITTEE OF THE ORGANIZATION BASED ON A REVIEW AND ANALYSIS OF THE OBJECTIVE AND NONDISCRIMINATORY CRITERIA. false true false false false false false false false ROBERT C GARRETT FACHE 0 2549241 0 1832399 0 1292784 0 277938 0 32417 0 5984779 0 250000 JEFFREY BOSCAMP 0 694999 0 198746 0 283283 0 10675 0 3877 0 1191580 0 0 MIRIAM HOFFMAN 457137 0 37941 0 22210 0 15250 0 35716 0 568254 0 0 0 STANLEY TERLECKY 364177 0 35737 0 4458 0 15250 0 35894 0 455516 0 0 0 JOHN SCHIAVONE 283401 0 32759 0 23729 0 15246 0 15052 0 370187 0 0 0 LORRAINE SULLIVAN 235664 0 27988 0 24684 0 11990 0 25537 0 325863 0 0 0 OFELIA MARTINEZ 261573 0 24587 0 1401 0 10463 0 282 0 298306 0 0 0 Pt I Line 3 PLEASE REFER TO OUR RESPONSE TO CORE FORM, PART VI, QUESTIONS 15A & 15B INCLUDED IN SCHEDULE O. Pt I Line 4b THE AMOUNT REFLECTED IN COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES PARTICIPATION IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") AS THE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. THE AMOUNTS OUTLINED HEREIN WERE INCLUDED IN EACH INDIVIDUAL'S 2022 FORM W-2 AS TAXABLE WAGES: ROBERT C. GARRETT, FACHE, $904,854 AND JEFFREY BOSCAMP $86,763. BOTH INDIVIDUALS COMPENSATIONS WERE PAID BY HMSOM'S RELATED ORGANIZATION, HACKENSACK MERIDIAN HEALTH, INC. Other PART III, LINE 1 - MISSION: THE MISSION OF HACKENSACK MERIDIAN SCHOOL OF MEDICINE ("HMSOM") IS TO DEVELOP ITS STUDENTS, RESIDENTS, FACULTY, AND HEALTHCARE ENVIRONMENT TO DELIVER THE HIGHEST QUALITY CARE FOR ALL, AND TO: EMBRACE AND MODEL OUR PROFESSIONAL ROOTS OF REVERENCE FOR THE HUMAN CONDITION, EMPATHY TOWARD SUFFERING, EXCELLENCE IN MEDICAL CARE, AND HUMILITY IN SERVICE; CONTINUE TO SERVE AND LEARN FROM THE ENGAGEMENT OF UNDERREPRESENTED MINORITY POPULATIONS AMONG STUDENTS, FACULTY, STAFF, AND COMMUNITY; INTEGRATE LIFELONG LEARNING AND INQUIRY INTO THEIR PRACTICE; WORK IN COMMUNION WITH SCHOLARS AND PRACTITIONERS OF OTHER DISCIPLINES TO INTEGRATE THEIR PERSPECTIVES, EXPERIENCES, AND TOOLS; AND UNDERSTAND THAT CONTEXT, COMMUNITY, AND BEHAVIOR DRIVE WELLBEING. Other PART III, LINE 4 - EFFECTIVE JANUARY 1, 2023, HACKENSACK MERIDIAN SCHOOL OF MEDICINE (HMSOM) CHANGED ITS ACCOUNTING PERIOD FROM FISCAL YEAR TO CALENDAR YEAR. AS A RESULT, HMSOM IS FILING ITS 2022 FORM 990 AS A FINAL RETURN ON ITS STANDALONE ENTITY, FOR THE SHORT PERIOD FROM JULY 1, 2022 TO DECEMBER 31, 2022. BEGINNING 2023, HMSOMS NEW TAX PERIOD START DATE WILL BE JANUARY 1 AND END DATE WILL BE DECEMBER 31. ADDITIONALLY, HMSOM WILL BE JOINING ITS DIRECT PARENT HACKENSACK MERIDIAN HEALTH INC.S GROUP EXEMPTION RULING AND ITS ACTIVITIES WILL BE CONSOLIDATED INTO GROUP FORM 990 RETURN, UNDER THE PARENTS CENTRAL ORGANIZATION EIN 01-0649794 AND GROUP EXEMPTION NUMBER 3827. Pt VI, Line 6 HMSOM IS A NEW JERSEY NONPROFIT CORPORATION WITH ONE MEMBER, HACKENSACK MERIDIAN HEALTH, INC. ("HMH")A NEW JERSEY NONPROFIT CORPORATION AND CHARITABLE HEALTH CARE NETWORK DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ITS WEBSITE IS HTTP://WWW.HMSOM.ORG Pt VI, Line 7a HMSOM SHALL HAVE AN INITIAL BOARD OF GOVERNORS COMPRISED OF FIFTEEN (15) APPOINTED MEMBERS ("GOVERNORS"), EACH OF WHO SHALL BE APPOINTED BY HMH. IN ADDITION TO THE APPOINTED GOVERNORS, THE DEAN, THE PRESIDENT OF SETON-HALL UNIVERSITY ("SHU") AND THE CHIEF EXECUTIVE OFFICER OF HMH ("CEO OF HMH") SHALL SERVE AS MEMBERS OF THE BOARD OF GOVERNORS, EX OFFICIO. THE CEO OF HMH SHALL HAVE THE RIGHT TO VOTE; THE DEAN AND PRESIDENT OF SHU SHALL NOT HAVE THE RIGHT TO VOTE. OTHER THAN THE DEAN, THE PRESIDENT OF SHU AND THE CEO OF HMH, EACH OF WHOM SHALL SERVE ON THE BOARD OF GOVERNORS EX-OFFICIO BY VIRTUE OF THEIR POSITIONS, EACH OF THE GOVERNORS SHALL BE APPOINTED FOR THREE (3) YEAR TERMS. EACH APPOINTED GOVERNOR SHALL HOLD OFFICE UNTIL THE EXPIRATION OF THE TERM FOR WHICH HE OR SHE HAS BEEN APPOINTED AND UNTIL HIS OR HER SUCCESSOR IS APPOINTED AND QUALIFIED, OR UNTIL HIS OR HER EARLIER DEATH, RESIGNATION OR REMOVAL. GOVERNORS MAY BE APPOINTED TO SUCCEED THEMSELVES BUT NO GOVERNOR MAY SERVE MORE THAN THREE (3) CONSECUTIVE THREE (3) YEAR TERMS; ONCE AN INDIVIDUAL HAS SERVED AS A GOVERNOR FOR THREE (3) CONSECUTIVE THREE (3) YEAR TERMS, HE OR SHE SHALL NOT BE ELIGIBLE FOR REAPPOINTMENT UNTIL HE OR SHE HAS BEEN OFF THE BOARD OF GOVERNORS FOR AT LEAST TWO (2) YEARS; PROVIDED, HOWEVER, THAT AN INDIVIDUAL'S SERVICE AS A GOVERNOR FOR A PARTIAL TERM OF LESS THAN TWO (2) YEARS SHALL NOT PRECLUDE A GOVERNOR FROM SERVING ON THE BOARD OF GOVERNORS FOR THREE (3) ADDITIONAL THREE (3) YEAR TERMS. Pt VI, Line 7b HMH SHALL HAVE THE ULTIMATE AUTHORITY, FOLLOWING CONSIDERATION OF THE ADVICE, GUIDANCE, RECOMMENDATIONS AND DECISIONS OF THE BOARD OF GOVERNORS (IF ANY), TO TAKE ANY OF THE FOLLOWING ACTIONS BELOW: (A) SELLING SUBSTANTIALLY ALL OF HMSOMS ASSETS, OR MERGING OR CONSOLIDATING HMSOM INTO OR WITH ANY OTHER CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY OR SIMILAR ENTITY FOLLOWING REVIEW BY THE BOARD OF GOVERNORS; (B) SELLING OR TRANSFERRING ANY HMSOM REAL PROPERTY TO A THIRD PARTY, FOLLOWING REVIEW BY THE BOARD OF GOVERNORS; (C) ACQUIRING THE STOCK OF, OR MEMBERSHIP INTERESTS IN, OR SUBSTANTIALLY ALL OF THE ASSETS OF, ANOTHER CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY OR SIMILAR ENTITY, OR OTHERWISE INVESTING IN SUCH ENTITY, FOLLOWING REVIEW BY THE BOARD OF GOVERNORS; (D) CONVERTING HMSOM TO A FOR-PROFIT OR NON-TAX-EXEMPT ENTITY, FOLLOWING APPROVAL BY THE BOARD OF GOVERNORS; (E) CREATING ANY NEW CLASS OR CLASSES OF MEMBERS, OR ADMITTING ANY NEW MEMBERS, WHETHER BY APPROVING THE TRANSFER, ASSIGNMENT OR SALE OF A MEMBERS INTEREST IN HMSOM OR OTHERWISE; (F) MAKING ANY MATERIAL CHANGE TO HMSOMS PURPOSES OR MISSION, FOLLOWING APPROVAL OF THE BOARD OF GOVERNORS; (G) CHANGING THE LEGAL NAME OF HMSOM, OR ADDING, REMOVING OR MODIFYING ANY FICTITIOUS NAME, FOLLOWING REVIEW BY THE BOARD OF GOVERNORS; (H) SUBJECT TO THE LAST SENTENCE OF ARTICLE 11, AMENDING, MODIFYING OR REPEALING ANY PART OF THE CERTIFICATE OF INCORPORATION OR THESE BYLAWS FOLLOWING APPROVAL OF THE BOARD OF GOVERNORS; (I) APPROVING ANY MATERIAL BORROWINGS; (J) LIQUIDATING, DISSOLVING OR WINDING UP THE AFFAIRS OF HMSOM, FOLLOWING REVIEW BY THE BOARD OF GOVERNORS; AND (K) ANY OTHER MATTER FOR WHICH HMH OR AN HMH AFFILIATED HOSPITAL OR OTHER HEALTHCARE FACILITY OR CLINICAL SERVICES PROVIDER MUST EXERCISE ULTIMATE AUTHORITY PURSUANT TO FEDERAL, STATE OR CLINICAL LICENSURE, CERTIFICATION OR ACCREDITATION BODY REQUIREMENTS. Pt VI, Line 11b HMH'S FINANCE PERSONNEL PREPARED AND REVIEWED THE FEDERAL FORM 990, WHICH WAS THEN REVIEWED BY OTHER APPROPRIATE INTERNAL STAFF FOR ACCURACY. THE FORM 990 WAS THEN PROVIDED TO EACH VOTING MEMBER OF HMSOM'S GOVERNING BODY, ITS BOARD OF GOVERNORS, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. Pt VI, Line 12c HMH, PARENT OF A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK ("NETWORK") HAS ADOPTED A NETWORK-WIDE CONFLICT OF INTEREST POLICY WHICH IS APPLICABLE TO ALL OF IT SUBSIDIARY ORGANIZATIONS, INCLUDING HMSOM. THE ORGANIZATIONS REGULARLY MONITOR AND ENFORCE COMPLIANCE WITH THE NETWORKS CONFLICT OF INTEREST POLICY. ANNUALLY, ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES OF EACH ORGANIZATION ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE WITH RESPECT TO ANY APPLICABLE TRANSACTIONS AND RELATIONSHIPS. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE NETWORK'S CHIEF COMPLIANCE OFFICER FOR REVIEW. THE CHIEF COMPLIANCE OFFICER THEN PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES AND PRESENTS THE SUMMARY TO THE NETWORK'S GOVERNANCE AND BOARD DEVELOPMENT COMMITTEE FOR ITS REVIEW, DISCUSSION AND ACTION (IF NEEDED). ANY TRUSTEE, OFFICER OR KEY EMPLOYEE WITH A DISCLOSED CONFLICT WOULD RECUSE THEMSELVES FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS OF A TRANSACTION IN QUESTION. DURING THE YEAR, THE CHIEF COMPLIANCE OFFICER, IN CONJUNCTION WITH THE GENERAL COUNSEL, ALSO MONITORS ON-GOING TRANSACTIONS IN LIGHT OF THE SUMMARY TO ENSURE THAT ANY POTENTIAL CONFLICTS OF INTEREST ARE APPROPRIATELY HANDLED IN COMPLIANCE WITH THE POLICY. Pt VI, Line 15a HMSOM IS AN AFFILIATE WITHIN A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY NETWORK IN WHICH HMH IS THE TAX-EXEMPT PARENT ORGANIZATION. THE EXECUTIVE AND PHYSICIAN COMPENSATION COMMITTEE ("COMMITTEE") OF HMH IS RESPONSIBLE FOR REVIEWING THE EXECUTIVE COMPENSATION OF THE PRESIDENT OF HMH AND THE TOP MANAGEMENT OFFICIAL OF HMSOM. THE COMMITTEE HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY, APPROVED BY THE GOVERNING BODY, WHICH IT FOLLOWS WHEN IT REVIEWS AND APPROVES COMPENSATION AND BENEFITS. THE EXECUTIVE COMPENSATION PHILOSOPHY RECOGNIZES THE SIZE AND COMPLEXITY OF THE HEALTH CARE NETWORK AND THE CRITICAL NEED TO HAVE AND RETAIN EXECUTIVES THAT CONSISTENTLY DEMONSTRATE SUPERIOR LEVELS OF PERFORMANCE SO THAT THE HEALTH NETWORK CAN FULFILL ITS CHARITABLE MISSION AND STRATEGIC OBJECTIVES. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION", INCLUDING BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED, ON AT LEAST AN ANNUAL BASIS TO ENSURE THAT THE "TOTAL COMPENSATION" OF HMHS CHIEF EXECUTIVE OFFICER AND THE TOP MANAGEMENT OFFICIAL OF HMSOM IS REASONABLE. TO ASSIST WITH THE REVIEW, THE COMMITTEE ENGAGES THE SERVICES OF A NATIONALLY RECOGNIZED INDEPENDENT CONSULTING FIRM SPECIALIZING IN EXECUTIVE COMPENSATION FOR NOT-FOR-PROFIT HEALTH CARE ORGANIZATIONS, AND RECEIVES NATIONAL AND REGIONAL MARKET DATA FOR COMPARABLE ORGANIZATIONS, A REPORT SUMMARIZING SUCH DATA, AND AN OPINION LETTER RELATING TO THE REASONABLENESS OF THE TOTAL COMPENSATION AND BENEFITS. ADDITIONALLY, A SENIOR MEMBER OF THE CONSULTING FIRM ATTENDS THE COMMITTEE'S MEETINGS TO PROVIDE INFORMATION AND TO RESPOND TO QUESTIONS BY THE MEMBERS OF THE COMMITTEE. THE INDEPENDENT COMMITTEE UTILIZES THE OUTSIDE MARKET DATA COMPARABILITY AND, BASED UPON THE EXECUTIVE COMPENSATION PHILOSOPHY, THE ORGANIZATION'S PERFORMANCE, BUSINESS JUDGMENT CONSIDERATIONS, AND THE INDIVIDUAL'S PERFORMANCE, REVIEWS AND APPROVES COMPENSATION FOR EACH INDIVIDUAL. GUIDED AT EACH MEETING BY OUTSIDE COUNSEL TO THE COMMITTEE, THE COMPREHENSIVE REVIEW PROCESS UTILIZED BY THE COMMITTEE IS INTENTIONALLY STRUCTURED TO QUALIFY FOR THE REBUTTABLE PRESUMPTION UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY THE COMMITTEE, WHICH IS AN "AUTHORIZED BODY" OF THE ORGANIZATION COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITHIN THE MEANING OF THE IRS REGULATIONS UNDER SECTION 4958; 2. THE COMMITTEE OBTAINS AND RELIES UPON "APPROPRIATE DATA AS TO COMPARABILITY" (FOR COMPARABLE POSITIONS AT SIMILAR HEALTHCARE ORGANIZATIONS) PRIOR TO MAKING ITS DETERMINATION, WHICH COMPARABILITY DATA IS PROVIDED AND ANALYZED BY THE COMMITTEE'S INDEPENDENT CONSULTING FIRM WITH EXPERTISE IN THE AREA OF NOT-FOR-PROFIT HEALTH CARE EXECUTIVE COMPENSATION; AND 3. THE COMMITTEE THOROUGHLY DOCUMENTS ITS REVIEW AND APPROVAL PROCESS, AS WELL AS THE BASIS FOR ITS APPROVALS, CONCURRENTLY WITH MAKING THAT DETERMINATION AGAIN AS DESCRIBED IN THE REGULATIONS. AS APPROPRIATE, THE COMMITTEE SUPPLEMENTS THE COMPARABILITY DATA WITH OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THE REASONABLENESS OF THE COMPENSATION PAID, INCLUDING AN ANALYSIS OF INDIVIDUAL GOALS AND OBJECTIVES, ORGANIZATIONAL PERFORMANCE, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS, AND WRITTEN OFFERS FROM COMPETING ORGANIZATIONS. THE COMPENSATION ARRANGEMENTS APPROVED BY THE COMMITTEE ARE REPORTED IN EXECUTIVE SESSION TO THE FULL BOARD BY THE CO-CHAIRS OF THE COMMITTEE. Pt VI, Line 15b SEE RESPONSE TO PART VI, QUESTION 15A ABOVE. Pt VI, Line 19 THE CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE POSTED ON HMHS WEBSITE. THE GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Pt VII, Col (E) THE COMPENSATION LISTED IS FOR SALARIES EARNED IN CALENDAR YEAR 2022. Pt VII, Col (F) THE COMPENSATION LISTED IS FOR SALARIES EARNED IN CALENDAR YEAR 2022. Pt XI FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS INCLUDE $1,339,721 TEMPORARY RESTRICTED NET ASSETS; $2,368,573 INTERNAL EQUITY TRANSFER. Pt XII, Line 2c THE HMSOM FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 WERE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. ONCE COMPLETED, THE AUDIT COMMITTEE REVIEWS THE AUDITED FINANCIAL STATEMENT BEFORE THEY ARE ISSUED AND THEY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. HACKENSACK MERIDIAN HEALTH INC 343 THORNALL STREET EDISON NJ 08837 223474145 HEALTH SVCS. NJ 501(C)(3) 12C NA false PALISADES MEDICAL ASSOCIATES LLC 7600 RIVER ROAD NORTH BERGEN NJ 07047 223814193 HEALTH SVCS. NJ 501(C)(3) 10 HMHHC false MERIDIAN MEDICAL GROUP-RETAIL CLINIC PC 343 THORNALL STREET EDISON NJ 08837 061755228 HEALTH SVCS. NJ 501(C)(3) 10 HMH false MERIDIAN MEDICAL GROUP-FACULTY PRACTICE PC 343 THORNALL STREET EDISON NJ 08837 061755230 HEALTH SVCS. 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