2025-11-14T09:33:22-06:00 2024-12-31 346565596 Ernst & Young US LLP 1 Manhattan West New York NY 10001 990 2024-01-01 223519709 NORTH JERSEY HEALTH CARE PROPERTIES INC NORT 9734512005 475 South Street Morristown NJ 07960 Michael Walter SVP-CFO 9736603166 2025-11-14 1 1 Nicole Sokolowski P01683199 2127733000 2024 2025-03-06 01:10:19Z Michael Walter 475 South Street Morristown NJ 07960 2715356 0 X N/A X 1997 NJ To hold title to real property for the benefit of Atlantic Health System. 4 0 0 0 662735 0 0 0 434131 432684 71160 0 -503662 -783068 1629 -350384 0 0 0 0 25531 25531 0 0 0 139173 135290 164704 160821 -163075 -511205 19473563 18834197 11602161 11474000 7871402 7360197 X Formed to own commercial buildings and conduct leasing activities. 0 0 To provide greater access to healthcare services for residents of Sussex County, New Jersey and Pike County, Pennsylvania, North Jersey Health Care Properties, in conjunction with Newton Medical Center, constructed the Sparta Health and Wellness and Milford Health and Wellness facilities.Sparta Health and Wellness Center, located in Sparta, New Jersey, provides greater access to healthcare services for residents of Sussex County and surrounding communities. Services available include a regional cancer center, laboratory services, and imaging center, wound services, a spice center, women's fitness, women's diagnostic services including a mammography suite, diabetes and nutritional programs, and various other health related programs. The site also features a wide array of physician services, including family practitioners, pediatricians and various specialty practices.Milford Health and Wellness Center, located in Milford, Pennsylvania, provides greater access to healthcare services for residents of Pike County, Pennsylvania and the surrounding communities. More than 76,000 people access its services each year. Milford Urgent Care, located at the Health and Wellness Center, provides quality urgent care close to home, seven days a week, twelve hours a day. Other services available at the center include Newton Medical Center lab and radiology services and an array of private practice physician offices, including family practitioners, cardiologists, internal medicine practitioners, and pediatricians. 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 4 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X Ken Butkowski 9734512005 475 South Street Morristown NJ 07960 Kevin Lenahan President & Treasurer 2.00 55.00 X X 0 2924716 461142 Sheilah O'Halloran Secretary 2.00 55.00 X X 0 1859057 282358 Robert Adams Director 2.00 55.00 X X 0 1266625 185492 Robert Peake Director 2.00 55.00 X X 0 906396 146805 0 6956794 1075797 0 0 1 0 0 Rent Income 531120 432684 432684 432684 2282672 3065740 -783068 -783068 -1445803 662735 -350384 -1013119 662735 0 25531 10000 38267 59367 16406 11250 160821 3190473 2566572 104084 111788 1322297 1534774 33866 8866 23800234 11532309 12485761 12267925 2337082 2344272 19473563 18834197 84140 118179 8943513 8774123 2574508 2581698 11602161 11474000 X 7871402 7360197 7871402 7360197 19473563 18834197 -511205 0 X 0 1 X 1 0 3889505 64885 447933 4402323 3338317 66470 484718 3889505 3784463 72784 -510391 8539 3338317 3214271 65191 517461 12460 3784463 2823120 58625 342388 9862 3214271 1.00000 0 1 1 1401249 1401249 19046779 9762590 9284189 3280392 1726161 1554231 43558 43558 0 28256 28256 12267925 Right of use asset 2344272 2344272 Security Deposits Payable 237426 Lease obligations 2344272 2581698 X 2715356 0 2715356 -3065740 -3065740 -350384 3226560 3065740 3065740 160820 0 160820 Part V, Line 4: The endowment funds represent permanently restricted net assets that have been restricted by donors to be maintained by Atlantic Health System, Inc. in perpetuity. Part X, Line 2: North Jersey Health Care Properties, Inc. (Properties) has been formed and operates as an exempt organization with the meaning of Section 501(c)(2) of the Internal Revenue Code. Some of Properties' leasing activities are conducted in debt-financed buildings and result in the reporting of unrelated debt-financed income to the Internal Revenue Service. When applicable, a provision for Federal income taxes is reflected in Properties' financial statements and is included in miscellaneous expenses on the statements of activities and changes in net assets. A provision for Federal income taxes was not applicable for 2024 and 2023. Properties is also exempt from state and local taxes. Properties follows the recognition and disclosure provisions of the accounting pronouncement related to accounting for uncertainty in income taxes and, accordingly, tax positions are evaluated for recognition using a more-likely-than-not threshold, and those tax positions requiring recognition are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Properties has evaluated the likelihood of its tax-exempt status being challenged as remote, and, accordingly has not included any income tax provisions, including interest and penalties, in the financial statements related to potential violations of its tax-exempt status. The Company has no open years prior to 2020 relating to its tax filings. Part XI, Line 4b - Other Adjustments: Rental Expenses -3,065,740. Part XII, Line 2d - Other Adjustments: Rental Expenses 3,065,740. 0 1 0 Kevin Lenahan President & Treasurer 0 1415590 0 1094600 0 414526 0 423493 0 37649 0 3385858 0 0 Sheilah O'Halloran Secretary 0 872855 0 661315 0 324887 0 248562 0 33796 0 2141415 0 223239 Robert Adams Director 0 596552 0 510632 0 159441 0 152992 0 32500 0 1452117 0 140479 Robert Peake Director 0 525316 0 272316 0 108764 0 120271 0 26534 0 1053201 0 87958 Part I, Line 4b 2024 Supplemental Executive Retirement Plan (SERP) Earned Credits Atlantic Health implemented a non-qualified Supplemental Executive Retirement Plan (SERP) paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. During 2024, the following Trustees received SERP credits: Sheilah O'Halloran $245,892 Robert Peake 82,321 Kevin Lenahan 385,483 Robert Adams 134,892 The above amounts represent earned credits which have not vested and were not included in their respective 2024 W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and in Schedule J, Column (C) of the 2024 IRS 990 tax return per IRS guidance. Once the officer meets the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Form W-2 of that year. 2024 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following Trustee received a taxable SERP distribution during 2023 based on the vesting criteria of the plan document. This taxable SERP distribution was included in the respective 2024 W-2 and is reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii) of this IRS 990: Sheilah O'Halloran $223,239 Robert Peake 87,958 Robert Adams 140,479 Kevin Lenahan 357,274 Form 990, Part VI, Section B, line 11b The 2024 Form 990 filings for North Jersey Health Care Properties, Inc. were prepared by the Finance Department and reviewed and signed by Ernst & Young LLP. The completed filings were reviewed by the entity's Senior VP-Chief Financial Officer and Administrative Officer. Subsequently, they were presented to the audit committee for review. All board members were invited to the audit committee meeting to take part in the detailed review. Upon finalization of the Form 990, all board members were provided a copy for their files. Form 990 was then filed with Internal Revenue Service after the review process. Form 990, Part VI, Section B, line 12c Each "Interested Person" of North Jersey Health Care Properties, Inc. shall annually sign the conflict of interest disclosure statement which affirms that such person: A. Has received a copy of the conflict of interest policy or the applicable bylaws, B. Has read and understands the policy, C. Has agreed to comply with the policy, D. Understands that the entity is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes under Section 501(c)(3) or 501(c)(4) of the Internal Revenue Code. On the conflict of interest disclosure statement, all "interested persons" must detail all existing or potential conflicts of interest and file the form with the Chief Compliance Officer annually. Interim disclosures shall also be required as conflicts develop subsequent to the annual disclosures. To ensure the organization operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews should be conducted by the Chief Compliance Officer. The periodic reviews shall, at a minimum, include the following subjects: A. Whether compensation agreements and benefits are reasonable and are the results of appropriate negotiations. B. Whether physician recruitment practices and other provider services result in inurement or impermissible private benefit. C. Whether partnership and joint venture agreements conform to written policies, are properly recorded, reflect reasonable payments for goods and services, further the organization's charitable purposes, and do not result in inurement or impermissible private benefit. D. Whether agreements to provide health care and agreements with other health care providers, employees and third party payors further the organization's charitable purposes and do not result in inurement or impermissible private benefit. Form 990, Part VI, Section B, line 15 A review of officer compensation by an independent 3rd party (Sullivan Cotter) is completed every year by AHS Hospital Corp, a related organization. The most recent survey was conducted in 2024. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Atlantic Health System Inc 475 South Street Morristown NJ 07960 223380375 Healthcare Parent NJ 501(c)(3) Line 12a, I N/A 0 Chilton Medical Center Auxilliary Inc 97 West Parkway Pompton Plains NJ 07444 222883605 Support Charitable Exempt Programs and Services of Medical Hospital. NJ 501(c)(3) Line 12a, I Atlantic Health System 1 Chilton Medical Center Foundation Inc 97 West Parkway Pompton Plains NJ 07444 223084817 Support Charitable Exempt Programs and Services of Medical Hospital. NJ 501(c)(3) Line 7 Atlantic Health System 1 Chilton Realty Holding Inc 97 West Parkway Pompton Plains NJ 07444 223067739 Real estate and leasing activities for benefit of exempt organization. NJ 501(c)(2) Atlantic Health System 1 Foundation for Hackettstown Medical Center 651 Willow Grove Street Hackettstown NJ 07840 222333410 Fundraising for Hackettstown Medical Center. NJ 501(c)(3) Line 7 Atlantic Health System 1 Foundation for Morristown Medical Center 475 South Street Morristown NJ 07960 223392808 Fundraising for Morristown Medical Center. NJ 501(c)(3) Line 7 Atlantic Health System 1 Newton Medical Center Foundation 175 High Street Newton NJ 07860 222618102 Administers donations, grants and bequests and performs fundraising NJ 501(c)(3) Line 7 Atlantic Health System 1 Prime Care Inc 175 High Street Newton NJ 07860 222759566 Provides home health and other healthcare services NJ 501(c)(3) Line 10 Atlantic Health System 1 Center for Aging Inc 901 West Main Street Freehold NJ 07728 222575377 Health Services NJ 501(c)(3) Line 10 Atlantic Health System 1 CentraState Assisted Living Inc 901 West Main Street Freehold NJ 07960 223520730 Health Services NJ 501(c)(3) Line 10 Atlantic Health System 1 Healthcare Affiiates Inc 901 West Main Street Freehold NJ 07728 521594300 Health Services NJ 501(c)(3) Line 10 Atlantic Health System 1 CentraState Healthcare System Inc 901 West Main Street Freehold NJ 07728 222482803 Management NJ 501(c)(3) Line 12a, I Atlantic Health System 1 CentraState Healthcare Foundation Inc 901 West Main Street Freehold NJ 07960 272383065 Fundraising NJ 501(c)(3) Line 7 Atlantic Health System 1 CentraState Medical Center 901 West Main Street Freehold NJ 07728 221750190 Healthcare Services NJ 501(c)(3) Line 3 Atlantic Health System 1 Chambers Center For Well-Being LLC 475 South Street Morristown NJ 07960 832620066 Health Services NJ 501(c)(3) Line 10 Atlantic Health System 1 Morristown Medical Investors 200 American Road Morris Plains NJ 07950 650840535 Real Estate NJ 0 0 Primary Care Partners LLC 475 South Street Morristown NJ 07960 274980253 Physician Services NJ 0 0 Atlantic Rehabilitation Institute LLC 680 South Fourth Street Louisville KY 40202 814711074 Rehabilitation Facility KY 0 0 Atlantic Health Partners LLC 475 South Street Morristown NJ 07960 824198770 Physician Services NJ 0 0 Atlantic Brain and Spine LLC 465 South Street Morristown NJ 07960 931467537 Physician Services NJ 0 0 Premier Health Associtates LLC 432 Lafayette Road Suite 300 Sparta NJ 07871 222705732 Physician Services NJ 0 0 AHS ACO LLC 475 South Street Morristown NJ 07960 273800813 Physician Practice NJ C 0 AHS Health Network LLC 475 South Street Morristown NJ 07960 474079001 Physician Practice NJ C 0 AHS Insurance Company Ltd 200 American Road Morris Plains Grand Cayman CJ 07950 223380375 Insurance NJ C 0 Atlantic Advanced Urgent Care LLC 475 South Street Morristown NJ 07960 831558799 Healthcare NJ C 0 Atlantic Executive Health PA 475 South Street Morristown NJ 07960 471944011 Physician Practice NJ C 0 Atlantic Health ACO LLC 475 South Street Morristown NJ 07960 474126650 Physician Practice NJ C 0 Atlantic Health Management Corp and Subsidiaries 200 American Road Morris Plains NJ 07950 223538027 Healthcare Related Services NJ C 0 Care Better ACO LLC 475 South Street Morristown NJ 07960 831224464 Physician Practice NJ C 0 Chilton Community Care Inc and Subs 97 West Parkway Pompton Plains NJ 07444 222869148 Healthcare NJ C 0 Madison Pediatrics PA 100 Madison Ave Morris Plains NJ 07960 223645007 Healthcare NJ Atlantic Health System Inc C 0 Maternal Fetal Medicine of Practice Associates PA 100 Madison Ave Morristown NJ 07960 030376421 Healthcare NJ Atlantic Health System Inc C 0 Non-Invasive Diagnostics PA 100 Madison Ave Morristown NJ 07960 202027439 Healthcare NJ Atlantic Health System Inc C 0 Nutley Medical Care PA 100 Madison Ave Morristown NJ 07960 223645010 Healthcare NJ Atlantic Health System Inc C 0 Specialty Care of Practice Associates PA 100 Madison Ave Morristown NJ 07960 030376428 Healthcare NJ Atlantic Health System Inc C 0 Tertiary Care Specialists of Practice Associates PA 475 South Street Morristown NJ 07960 830713277 Physician Practice NJ C 0 The Northwest New Jersey MedicalSurgical Alliance PC 175 High Street Newton NJ 07860 450577942 Healthcare Services NJ C 0 The Northwest New Jersey Urgent Care Alliance PC 175 High Street Newton NJ 07860 830492357 Healthcare Services NJ C 0 Tertiary Care Specialists of Practice Associates PA 475 South Street Morristown NJ 07960 830713277 Physician Practice NJ C 0 Visiting Nurse Association of Somerset Hills Office Park Condominium 200 Mount Airy Rd Basking Ridge NJ 07920 261183397 Home health services NJ C 0 Ancillary Specialists of Practice Assoc PA 475 South Street Morristown NJ 07960 844693833 Physician Practice NJ C 0 Functional Medicine of Practice Associates 475 South Street Morristown NJ 07960 845006796 Physician Practice NJ C 0 Atlantic Urgent Care LLC 181 High Street Newton NJ 07860 491693160 Healthcare Services NJ C 0 CentraState Healthcare Services Inc 901 West Main Street Freehold NJ 07728 222512830 Health Services NJ Atlantic Health System Inc C 0 CentraState Medical Associates PC 901 West Main Street Freehold NJ 07728 223402359 Health Services NJ Atlantic Health System Inc C 0 CentraState Specialists PC 901 West Main Street Freehold NJ 07728 823704077 Health Services NJ Atlantic Health System Inc C 0 CentraState Captive Insurance Co LTD 901 West Main Street Freehold NJ 07728 981205985 Health Services CJ Atlantic Health System Inc 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 Atlantic Health System K 195000 Cost Atlantic Health System J 1029851 Cost