2025-11-13T11:58:50-05:00 2024-12-31 WithumSmithBrown PC 200 Jefferson Park Suite 400 Whippany NJ 079811070 990 2024-01-01 274645523 SAINT PETER'S HEALTHCARE SYSTEM PHYSICIAN ASSOCIATES PC % GARRICK J STOLDT FHFMA CP SAIN 7327458600 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 GARRICK J STOLDT CFO 7327458600 2025-05-15 true true Scott J Mariani P00642486 9738989494 2024 2025-03-06 01:10:19Z AMAR BUKHARI MD 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 10865231 false X WWW.SPPANJ.COM X 2011 NJ THE ORGANIZATION SUPPORTS THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF SAINT PETER'S UNIVERSITY HOSPITAL; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORG. 2 0 141 0 0 0 0 0 10055367 10840652 -1795 3675 35876 20904 10089448 10865231 0 0 0 0 10795217 12156652 0 0 0 6431476 5784934 17226693 17941586 -7137245 -7076355 5975119 3036761 101536471 11015485 -95561352 -7978724 X TO SUPPORT THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF SAINT PETER'S UNIVERSITY HOSPITAL ("THE HOSPITAL"); A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, OR ANY CORRESPONDING PROVISIONS OF ANY SUBSEQUENT FEDERAL TAX LAWS (HEREINAFTER REFERRED TO AS THE ("CODE"), INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE CODE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE PURPOSES OF THE CORPORATION ARE: (A) TO SERVE AS A PHYSICIAN SERVICES COMPONENT OF AN INTEGRATED HEALTHCARE DELIVERY SYSTEM, AND TO THEREBY PROMOTE, S false false 14311559 0 10840652 EXPENSES INCURRED IN SUPPORTING THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF SAINT PETER'S UNIVERSITY HOSPITAL; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. 14311559 true false false false false false false false false false true false false true true false false true false false true false false false false false false false false true false false false false false false false false false false false false false true false false false true 25 0 true 141 true false false false false false false false false false false false false false X 2 0 false false false false true true true true true false false true true true true true true true true false X GARRICK J STOLDT FHFMA CP 7327458600 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 X ALMA S RATCLIFFE MD TRUSTEE 55.0 0.0 X 0 682377 106967 AMAR BUKHARI MD PRESIDENT - TRUSTEE 55.0 0.0 X X 0 595575 55335 MICHAEL L CARLUCCI MD PHYSICIAN 55.0 0.0 X 565853 0 49285 ANDREW CAMEROTA MD PHYSICIAN 55.0 0.0 X 472113 0 35555 MAHMOUD EL-BANNA MD PHYSICIAN 55.0 0.0 X 413844 0 16117 Aijaz Hussain MD Physician 55.0 0.0 X 363172 0 53010 MERVAT B MANSOUR MD PHYSICIAN 55.0 0.0 X 357029 0 28377 2172011 1277952 344646 24 false true false Kianoush Sheykholeslami MD 562 EASTON AVENUE NEW BRUNSWICK NJ 08901 MEDICAL SERVICES 582500 ATHENAHEALTH INC PO BOX 415615 BOSTON MA 022415615 PRACTICE MGMT/EHR 489252 Irving Kaufman 59 Veronica Avenue Suite 204 SOMERSET NJ 08873 MEDICAL SERVICES 125000 3 0 NET PATIENT SERVICE REVENUE 622110 9210917 9210917 OTHER HEALTHCARE RELATED REVENUE 622110 1629735 1629735 10840652 3675 3675 0 0 20904 20904 0 20904 20904 0 0 0 0 0 0 0 0 0 0 0 10865231 10840652 24579 0 0 0 0 0 0 10152060 8098047 2054013 417299 332869 84430 899394 717424 181970 687899 548720 139179 423737 338005 85732 0 0 0 0 0 140327 111935 28392 180 144 36 193301 154191 39110 0 0 1509475 1204071 305404 507 404 103 0 0 0 0 263840 210459 53381 150367 119944 30423 ALLOCATION OF PERSONNEL 2068383 1649898 418485 0 MEDICAL SUPPLIES 139544 111311 28233 0 REPAIRS & MAINTENANCE 24737 19732 5005 0 DUES & SUBSCRIPTIONS 16569 13217 3352 0 853967 681188 172779 17941586 14311559 3630027 0 283967 282531 0 0 0 0 259930 72270 0 0 0 0 0 0 0 0 47256 5460 3345099 2979669 726616 365430 0 0 0 0 0 0 0 0 4657350 2311070 5975119 3036761 2243492 2254499 0 0 0 0 0 0 0 0 0 0 0 0 0 0 99292979 8760986 101536471 11015485 X -95561352 -7978724 0 0 -95561352 -7978724 5975119 3036761 X -7076355 94658983 X X false true X true false X X X 1 SAINT PETER'S UNIVERSITY HOSPITAL 221487330 3 true 0 0 1 0 0 true false false false false false false false false false false false false false false true true true X true true Schedule A, Part IV, Section D, Question 3 and Section E, Question 2 AS MORE FULLY OUTLINED BELOW, SAINT PETER'S HEALTHCARE SYSTEM PHYSICIAN ASSOCIATES, P.C. ("PHYSICIAN ASSOCIATES") IS A SUPPORTING ORGANIZATION OF SAINT PETER'S UNIVERSITY HOSPITAL ("HOSPITAL"); AN ORGANIZATION RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A TAX-EXEMPT HOSPITAL UNDER INTERNAL REVENUE CODE ("IRC") 501(C)(3). ALL DECISIONS REGARDING PHYSICIAN ASSOCIATES' INVESTMENT POLICIES AND USE OF ITS INCOME OR ASSETS ARE MADE BY HOSPITAL ON BEHALF OF PHYSICIAN ASSOCIATES THROUGH THEIR RELATIONSHIP. PHYSICIAN ASSOCIATES WAS FORMED IN 2011 AS A PROFESSIONAL CORPORATION UNDER THE PROFESSIONAL SERVICE CORPORATION ACT OF NEW JERSEY (TITLE 14A) TO SUPPORT HOSPITAL BY PRACTICING MEDICINE, ENGAGING IN MEDICAL EDUCATION AND WORKING TO IMPROVE THE WELFARE OF INDIVIDUALS IN NEW JERSEY. AS DESCRIBED BELOW, PHYSICIAN ASSOCIATES CONSTITUTES A SIGNIFICANT PORTION OF THE CLINICAL SERVICES PHYSICIAN PRACTICE PLANS OF HOSPITAL. PHYSICIAN ASSOCIATES IS AN INTEGRAL PART OF HOSPITAL'S MEMBERSHIP IN SAINT PETER'S HEALTHCARE SYSTEM AND AFFILIATES; A TAX-EXEMPT, INTEGRATED HEALTHCARE DELIVERY SYSTEM. SAINT PETER'S HEALTHCARE SYSTEM, INC. ("SYSTEM") IS THE TAX-EXEMPT PARENT OF SAINT PETER'S HEALTHCARE SYSTEM. PHYSICIAN ASSOCIATES IS CONTROLLED BY HOSPITAL THROUGH SYSTEM AND PHYSICIAN ASSOCIATES' SOLE PHYSICIAN SHAREHOLDER. DUE TO CORPORATE PRACTICE OF MEDICINE PROHIBITION RULES AND REGULATIONS IN THE STATE OF NEW JERSEY, A LICENSED PHYSICIAN IS THE SOLE SHAREHOLDER AND NOMINEE OWNER OF PHYSICIAN ASSOCIATES FOR THE BENEFIT OF HOSPITAL. NEW JERSEY CORPORATE PRACTICE OF MEDICINE PROHIBITION RULES AND REGULATIONS DO NOT PERMIT HOSPITAL TO SERVE AS THE SHAREHOLDER OF PHYSICIAN ASSOCIATES. CONTROL BY HOSPITAL OF PHYSICIAN ASSOCIATES IS INSURED AND WILL CONTINUE BASED ON THE FACT THAT A LICENSED PHYSICIAN IS A MEMBER OF HOSPITAL'S MEDICAL STAFF. PHYSICIAN ASSOCIATES HAS ENTERED INTO ADMINISTRATIVE SERVICE AGREEMENTS WITH BOTH SYSTEM AND HOSPITAL DATED APRIL 1, 2011. THESE ADMINISTRATIVE AGREEMENTS WERE DRAFTED FOR THE PURPOSE OF HOSPITAL AND SYSTEM TO PROVIDE ADMINISTRATIVE, MANAGERIAL AND SUPPORT SERVICES TO PHYSICIAN ASSOCIATES. THE ADMINISTRATIVE SERVICE AGREEMENTS, TOGETHER WITH THE NOMINEE OWNER'S EMPLOYMENT AT PHYSICIAN ASSOCIATES, ENSURES STRUCTURAL AND FINANCIAL CONTROL OF PHYSICIAN ASSOCIATES BY HOSPITAL. ARTICLE SECOND OF PHYSICIAN ASSOCIATES' AMENDED AND RESTATED CERTIFICATE OF INCORPORATION STATES THAT PHYSICIAN ASSOCIATES IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF IRC 501(C)(3) INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER IRC 501(C)(3). THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION PROVIDES THAT PHYSICIAN ASSOCIATES' SPECIFIC PURPOSES ARE: - TO SERVE AS A PHYSICIAN SERVICES COMPONENT OF AN INTEGRATED HEALTHCARE DELIVERY SYSTEM, AND TO THEREBY PROMOTE, SUPPORT, AND FURTHER THE CHARITABLE PURPOSES AND INTERESTS OF SAINT PETER'S UNIVERSITY HOSPITAL, A NONPROFIT ORGANIZATION EXEMPT FROM TAXATION UNDER IRC 501(C)(3). PURSUANT TO IRC 509(A)(3), PHYSICIAN ASSOCIATES SHALL BE OPERATED FOR THE BENEFIT OF, TO CARRY OUT THE PURPOSES OF, AND TO SUPPORT THE HOSPITAL; - TO PROVIDE HIGH QUALITY MEDICAL CARE AS PART OF AND IN CONJUNCTION WITH THE HOSPITAL AND CONSISTENT WITH (I) THE HOSPITAL'S CHARITABLE PURPOSES, (II) THE OTHER PURPOSES OF PHYSICIAN ASSOCIATES, (III) THE RULES AND REGULATIONS OF THE NEW JERSEY STATE BOARD OF MEDICAL EXAMINERS AND (IV) THE ETHICAL AND RELIGIOUS DIRECTIVES FOR CATHOLIC HEALTHCARE SERVICES; - TO PROVIDE MEDICAL CARE FOR ALL OF THE SICK AND INJURED WHO PRESENT FOR DIAGNOSIS, TREATMENT AND CARE WITHOUT REGARD TO RACE, COLOR, CREED, SEX, AGE OR ABILITY TO PAY FOR SERVICES; - TO ESTABLISH, MAINTAIN, SPONSOR AND PROMOTE ACTIVITIES RELATING TO THE IMPROVEMENT OF HUMAN HEALTH AND PROVISION OF CARE TO THE SICK, INJURED, OR DISABLED, INCLUDING EDUCATIONAL AND/OR RESEARCH PROGRAMS AND OTHER PROGRAMS DESIGNED AND CARRIED ON TO IMPROVE THE PHYSICAL, PSYCHOLOGICAL AND EMOTIONAL HEALTH AND WELFARE OF PERSONS LIVING IN THE SURROUNDING COMMUNITY; - TO STAFF, OPERATE AND MANAGE CERTAIN OUTPATIENT FACILITIES SPONSORED BY THE HOSPITAL, TO ENSURE THAT THESE FACILITIES ARE OPERATED EFFICIENTLY, PROVIDE A HIGH QUALITY OF MEDICAL CARE, AND OPERATE CONSISTENT WITH THE HOSPITAL'S CHARITABLE PURPOSES; AND - TO DO SUCH ACTS AND CARRY ON SUCH BUSINESSES AS MAY BE AUTHORIZED FOR PROFESSIONAL CORPORATIONS UNDER SECTION 14:9-5(3) OF THE NEW JERSEY BUSINESS CORPORATION ACT, SUBJECT TO THE LIMITATIONS OF THE ACT, AND TO THE LIMITATIONS CONTAINED IN PHYSICIAN ASSOCIATES' BYLAWS. PHYSICIAN ASSOCIATES IS A MEDICAL PRACTICE COMPONENT OF HOSPITAL AND PROVIDES MEDICAL SERVICES, MEDICAL RESEARCH AND EDUCATION OF HOSPITAL RESIDENTS AND MEDICAL STUDENTS. IN ITS ROLE AS A MEDICAL PRACTICE COMPONENT OF HOSPITAL AND AS AN EDUCATOR, MEDICAL STUDENTS AND MEDICAL RESIDENTS OF HOSPITAL RECEIVE EDUCATION AND TRAINING AT PHYSICIAN ASSOCIATES THROUGH MEDICAL ROTATIONS. THESE ACTIVITIES FURTHER THE CHARITABLE PURPOSES OF PHYSICIAN ASSOCIATES AND THE CHARITABLE PURPOSES OF HOSPITAL BY PROVIDING MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS. PHYSICIAN ASSOCIATES WAS FORMED TO (1) EXPAND HOSPITAL'S AND, THUS, SYSTEM'S INTEGRATED HEALTHCARE DELIVERY SYSTEM THROUGHOUT PRIMARILY MIDDLESEX COUNTY, NEW JERSEY, (2) BE A SEAMLESS EXTENSION OF HOSPITAL'S HEALTHCARE SERVICES AND (3) OPERATE FOR THE CONVENIENCE OF HOSPITAL'S PATIENTS. CONSISTENT WITH HOSPITAL'S GENERAL PRACTICE DESCRIBED ABOVE, PHYSICIAN ASSOCIATES IS STAFFED BY ITS OWN PHYSICIANS AND LEASED HOSPITAL EMPLOYED PHYSICIANS. ALTHOUGH NOT REQUIRED, ALL PHYSICIANS EMPLOYED BY PHYSICIAN ASSOCIATES HAVE ADMITTING PRIVILEGES AT HOSPITAL. PHYSICIAN ASSOCIATES PERFORMS A CRUCIAL FUNCTION IN HOSPITAL'S AND, THUS, SYSTEM'S INTEGRATED HEALTHCARE DELIVERY SYSTEM IN NEW JERSEY. PHYSICIAN ASSOCIATES SUPPORTS HOSPITAL BY REACHING OUT INTO THE COMMUNITY AND THEREBY ALLOWING HOSPITAL TO DELIVER ITS STATE-OF-THE-ART HEALTHCARE SERVICES TO A LARGER PATIENT BASE THAN IT WOULD OTHERWISE BE ABLE TO REACH. THIS COMMUNITY SERVICE, INCLUDES, BUT IS NOT LIMITED TO, THE PHYSICIANS OF PHYSICIAN ASSOCIATES PROVIDING SPEAKING ENGAGEMENTS TO THE COMMUNITY AT NO COST IN ORDER TO EDUCATE THE PUBLIC ON VARIOUS MEDICAL AND HEALTHCARE ISSUES. 2589392 2322743 266649 725567 656926 68641 30140 30140 365430 OTHER RECEIVABLES 11751 SECURITY DEPOSIT 43969 RIGHT OF USE ASSET 2255350 2311070 0 DUE TO RELATED PARTIES 6505636 OPERATING LEASE LIABILITY 2255350 8760986 Central America and the Caribbean Program Services FINANCIAL VEHICLE 150367 150367 150367 false false false false false false SCHEDULE F, PART I THIS ORGANIZATION ACCRUED FOR ACCOUNTING PURPOSES EXPENSES IN THE AMOUNT OF $150,367 TO RISK ASSURANCE COMPANY OF SAINT PETER'S UNIVERSITY HOSPITAL; A FINANCIAL VEHICLE. ALL AMOUNTS PAID ON BEHALF OF THIS ORGANIZATION TO RISK ASSURANCE COMPANY OF SAINT PETER'S UNIVERSITY HOSPITAL DURING 2024 HAVE BEEN REPORTED ON THE SAINT PETER'S UNIVERSITY HOSPITAL FORM 926. X X X X X false true false false false false false true false ALMA S RATCLIFFE MD TRUSTEE 0 521995 0 118545 0 41837 0 83617 0 23350 0 789344 0 0 AMAR BUKHARI MD PRESIDENT - TRUSTEE 0 494027 0 97936 0 3612 0 16814 0 38521 0 650910 0 0 MICHAEL L CARLUCCI MD PHYSICIAN 318001 0 244699 0 3153 0 14939 0 34346 0 615138 0 0 0 ANDREW CAMEROTA MD PHYSICIAN 392233 0 69305 0 10575 0 15750 0 19805 0 507668 0 0 0 MAHMOUD EL-BANNA MD PHYSICIAN 204917 0 185483 0 23444 0 15145 0 972 0 429961 0 0 0 Aijaz Hussain MD Physician 248871 0 89893 0 24408 0 15726 0 37284 0 416182 0 0 0 MERVAT B MANSOUR MD PHYSICIAN 353670 0 0 0 3359 0 17250 0 11127 0 385406 0 0 0 SCHEDULE J, PART I; QUESTION 4B THE DEFERRED COMPENSATION AMOUNT IN COLUMN C FOR THE FOLLOWING INDIVIDUAL INCLUDES UNVESTED BENEFITS IN AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN) WHICH IS SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. ACCORDINGLY, THIS INDIVIDUAL MAY NEVER ACTUALLY RECEIVE THE UNVESTED BENEFIT AMOUNT. THE AMOUNT OUTLINED HEREIN WAS NOT INCLUDED IN HER 2024 FORM W-2, AS TAXABLE MEDICARE WAGES: ALMA S. RATCLIFFE, M.D., $66,367. SCHEDULE J, PART I; QUESTION 7 THE INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2024 WHICH WAS INCLUDED IN COLUMN (II) HEREIN AND IN EACH INDIVIDUAL'S 2024 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION BY PERSON BY AMOUNT. PART I, LINES 3 & 4 AND PART VI, SECTION A, QUESTIONS 1A & 1B THE ORGANIZATION IS AN AFFILIATE WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. ("SYSTEM"); A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM. SAINT PETER'S HEALTHCARE SYSTEM, INC. IS THE TAX-EXEMPT PARENT ENTITY OF THE SYSTEM WHICH INCLUDES SAINT PETER'S UNIVERSITY HOSPITAL; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. ALTHOUGH A MAJORITY OF THE ORGANIZATION'S VOTING MEMBERS OF THE BOARD ARE NOT INDEPENDENT UNDER THE INTERNAL REVENUE SERVICE DEFINITION, THIS ORGANIZATION ACTS IN A CHARITABLE TAX-EXEMPT MANNER FOR PURPOSES OF INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS ULTIMATELY CONTROLLED BY SAINT PETER'S HEALTHCARE SYSTEM, INC. SAINT PETER'S HEALTHCARE SYSTEM, INC. IS GOVERNED BY A BOARD WHOSE MAJORITY IS COMPRISED OF INDEPENDENT VOTING MEMBERS AND HAS THE OVERARCHING DUTY AND RESPONSIBILITY FOR GOVERNING ALL AFFILIATES WITHIN THE SYSTEM TO ENSURE THAT THEY ARE OPERATING IN ACCORDANCE WITH AND SUPPORTING THE SYSTEM'S CHARITABLE TAX-EXEMPT MISSION AND PURPOSES. CORE FORM, PART VI, SECTION A; QUESTIONS 6 & 7 SAINT PETER'S UNIVERSITY HOSPITAL ("SPUH") IS THE SOLE MEMBER OF THIS ORGANIZATION WHICH EXISTS THROUGH A PHYSICIAN NOMINEE AGREEMENT DUE TO STATE OF NEW JERSEY CORPORATE PRACTICE OF MEDICINE PROHIBITION RULES AND REGULATIONS. SPUH HAS THE RIGHT TO ELECT THE MEMBERS OF THIS ORGANIZATION'S BOARD OF TRUSTEES AND HAS CERTAIN RESERVED POWERS AS DEFINED IN THIS ORGANIZATION'S BYLAWS. CORE FORM, PART VI, SECTION B; QUESTION 11B THE ORGANIZATION IS AN AFFILIATE WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. AND AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM"). SAINT PETER'S HEALTHCARE SYSTEM, INC. IS THE TAX-EXEMPT PARENT OF THE SYSTEM. THIS ORGANIZATION'S FEDERAL FORM 990 WAS PROVIDED TO THE SOLE VOTING MEMBER OF ITS GOVERNING BODY PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). THE SAINT PETER'S HEALTHCARE SYSTEM, INC. AUDIT AND COMPLIANCE COMMITTEE HAS ASSUMED THE RESPONSIBILITY TO OVERSEE AND COORDINATE THE FEDERAL FORM 990 PREPARATION, REVIEW AND FILING PROCESS. AS PART OF THE ORGANIZATION'S FEDERAL FORM 990 TAX RETURN PREPARATION PROCESS THE ORGANIZATION HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN BOTH HEALTHCARE AND NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE ORGANIZATION'S FINANCE PERSONNEL AND SYSTEM INDIVIDUALS INCLUDING, BUT NOT LIMITED TO, THE CHIEF FINANCIAL OFFICER, CONTROLLER AND OTHER SYSTEM INDIVIDUALS ("INTERNAL WORKING GROUP") TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO THE ORGANIZATION'S INTERNAL WORKING GROUP, FOR REVIEW. THE ORGANIZATION'S INTERNAL WORKING GROUP REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S INTERNAL WORKING GROUP FOR FINAL REVIEW AND APPROVAL. FOLLOWING THIS APPROVAL, THE FINAL FEDERAL FORM 990 WAS MADE AVAILABLE TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY PRIOR TO FILING WITH THE IRS. CORE FORM, PART VI, SECTION B; QUESTION 12 THE ORGANIZATION IS AN AFFILIATE WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. AND AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM"). THE ORGANIZATION AND THE SYSTEM REGULARLY MONITOR AND ENFORCE COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS AND SENIOR MANAGEMENT PERSONNEL ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION AND THE SYSTEM'S CHIEF COMPLIANCE OFFICER FOR REVIEW. THEREAFTER, THE CHIEF COMPLIANCE OFFICER PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED BY AN INDIVIDUAL ON AN INDIVIDUAL BASIS AND PRESENTS THIS SUMMARY TO THE SYSTEM'S CORPORATE SECRETARY FOR REFERENCE DURING BOARD MEETINGS. CORE FORM, PART VI, SECTION B; QUESTION 15 THE ORGANIZATION IS AN AFFILIATE WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. AND AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM") WHICH INCLUDES SAINT PETER'S UNIVERSITY HOSPITAL ("SPUH"). SAINT PETER'S HEALTHCARE SYSTEM, INC. IS THE TAX-EXEMPT PARENT ENTITY OF THE SYSTEM. THIS FILING ORGANIZATION ITSELF HAS NO PAID SENIOR MANAGEMENT PERSONNEL RECEIVING COMPENSATION DIRECTLY FROM THIS ORGANIZATION. RATHER, KEY SENIOR MANAGEMENT PERSONNEL ARE EMPLOYED BY SAINT PETER'S HEALTHCARE SYSTEM, INC. HOWEVER, THE COMPENSATION AND BENEFITS OF THESE INDIVIDUALS ARE SHOWN ON THIS TAX RETURN BECAUSE THEY ARE EITHER TRUSTEES, OFFICERS OR KEY EMPLOYEES OF THIS ORGANIZATION. SPUH'S BOARD OF TRUSTEES HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY WHICH IT FOLLOWS WHEN IT REVIEWS AND APPROVES OF THE COMPENSATION AND BENEFITS OF THE ORGANIZATION'S SENIOR MANAGEMENT, INCLUDING, BUT NOT LIMITED TO, THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUALS WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS DONE ON AT LEAST AN ANNUAL BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF SENIOR MANAGEMENT OF THE ORGANIZATION IS REASONABLE. THE ACTIONS TAKEN BY THE COMMITTEE ENABLE SPUH AND SYSTEM TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE SECTION 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT; 2. THE AUTHORIZED BODY OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE AUTHORIZED BODY "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES EACH OF WHO ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE RELIED UPON APPROPRIATE COMPARABLE DATA; SPECIFICALLY THE COMMITTEE OBTAINED A WRITTEN COMPENSATION STUDY FROM AN INDEPENDENT FIRM WHICH SPECIALIZES IN THE REVIEW OF HOSPITAL AND HEALTHCARE SYSTEM EXECUTIVE COMPENSATION AND BENEFITS THROUGHOUT THE UNITED STATES. THIS STUDY USED COMPARABLE GEOGRAPHIC AND DEMOGRAPHIC MARKET DATA INCLUDING, BUT NOT LIMITED TO, SIMILAR SIZED HOSPITALS, # OF LICENSED BEDS AND NET PATIENT SERVICE REVENUE. THE COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION. THE ACTIONS OUTLINED ABOVE, WITH RESPECT TO THE COMMITTEE AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS, ONLY APPLIES TO CERTAIN SENIOR MANAGEMENT PERSONNEL. THE COMPENSATION AND BENEFITS OF CERTAIN OTHER INDIVIDUALS CONTAINED IN THIS FORM 990 ARE REVIEWED ANNUALLY BY THE PRESIDENT/CHIEF EXECUTIVE OFFICER WITH ASSISTANCE FROM SPUH'S HUMAN RESOURCES DEPARTMENT IN CONJUNCTION WITH THE INDIVIDUAL'S JOB PERFORMANCE DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY SPUH AND SYSTEM. OTHER OBJECTIVE FACTORS INCLUDE MARKET SURVEY DATA FOR COMPARABLE POSITIONS, INDIVIDUAL GOALS AND OBJECTIVES, PERSONNEL REVIEWS, EVALUATIONS, SELF-EVALUATIONS AND PERFORMANCE FEEDBACK MEETINGS. CORE FORM, PART VI, SECTION C; QUESTION 19 THE ORGANIZATION'S FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY. IN ADDITION, THE ORGANIZATION'S CONFLICT-OF-INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CORE FORM, PART VII AND SCHEDULE J CORE FORM, PART VII AND SCHEDULE J REFLECT CERTAIN BOARD MEMBERS AND OFFICERS RECEIVING COMPENSATION AND BENEFITS FROM THIS ORGANIZATION OR A RELATED ORGANIZATION. PLEASE NOTE THIS REMUNERATION IS FOR SERVICES RENDERED AS A FULL-TIME EMPLOYEE OF THE ORGANIZATION OR THE RELATED ORGANIZATION AND NOT FOR SERVICES RENDERED AS A VOTING MEMBER OR OFFICER OF THIS ORGANIZATION'S BOARD OF TRUSTEES. CORE FORM, PART VII, SECTION A, COLUMN B THE ORGANIZATION IS AN AFFILIATE WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. AND AFFILIATES ("SYSTEM"); A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM. CERTAIN BOARD OF TRUSTEE MEMBERS, OFFICERS AND KEY EMPLOYEES LISTED ON CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 MAY HOLD SIMILAR POSITIONS WITH BOTH THIS ORGANIZATION AND OTHER AFFILIATES WITHIN THE SYSTEM. THE HOURS SHOWN ON THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE NO COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, REPRESENT THE ESTIMATED HOURS DEVOTED PER WEEK FOR THIS ORGANIZATION. TO THE EXTENT THESE INDIVIDUALS SERVE AS A MEMBER OF THE BOARD OF TRUSTEES OF OTHER RELATED ORGANIZATIONS IN THE SYSTEM, THEIR RESPECTIVE HOURS PER WEEK PER ORGANIZATION ARE APPROXIMATELY THE SAME AS REFLECTED IN CORE FORM, PART VII OF THIS FORM 990. THE HOURS REFLECTED ON CORE FORM, PART VII OF THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, PAID OFFICERS, REFLECT TOTAL HOURS WORKED PER WEEK ON BEHALF OF THE SYSTEM; NOT SOLELY THIS ORGANIZATION. CORE FORM, PART XI; LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES INCLUDE: - NON-OPERATING NET PERIODIC PENSION COST - ($13,091), - GAIN ON EXTINGUISHMENT OF DEBT - $94,672,074. CORE FORM, PART XII; QUESTION 2 THE ORGANIZATION IS AN AFFILIATE WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. AND AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM"). THE SYSTEM'S TAX-EXEMPT PARENT ENTITY IS SAINT PETER'S HEALTHCARE SYSTEM, INC. AN INDEPENDENT CPA FIRM AUDITED THE CONSOLIDATED FINANCIAL STATEMENTS OF SAINT PETER'S HEALTHCARE SYSTEM, INC. AND ALL ENTITIES WITHIN THE SYSTEM FOR THE YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023; RESPECTIVELY. THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS CONTAIN CONSOLIDATING SCHEDULES ON AN ENTITY BY ENTITY BASIS. THE INDEPENDENT CPA FIRM ISSUED AN UNMODIFIED OPINION WITH RESPECT TO THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS. THE SAINT PETER'S HEALTHCARE SYSTEM, INC. AUDIT AND COMPLIANCE COMMITTEE HAS ASSUMED RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS, WHICH INCLUDES THIS ORGANIZATION, AND THE SELECTION OF AN INDEPENDENT AUDITOR. ST PETER'S FOUNDATION 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 222329197 FUNDRAISING NJ 501(C)(3) 7 SPHCS false SAINT PETER'S HEALTH & MGMT SVCS CORP 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 270045088 SUPPORT SPUH NJ 501(C)(3) 12B SPHCS false ST PETER'S HEALTHCARE SYSTEM INC 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 262019056 HOLDING CO. NJ 501(C)(3) 12A N/A false ST PETER'S PROPERTIES CORPORATION 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 222428823 REAL ESTATE NJ 501(C)(2) N/A SPHCS false SAINT PETER'S UNIVERSITY HOSPITAL 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 221487330 HEALTH SVCS. NJ 501(C)(3) 3 SPHCS false NEW BRUNSWICK AFFILIATED HOSPITALS INC 2 CRESCENT PLACE OCEANPORT NJ 07757 221946837 HEALTH SVCS. NJ 501(C)(3) 12A RWJHCC false MARGARET MCLAUGHLIN MCCARRICK CARE CNTR 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 222577732 INACTIVE NJ 501(C)(3) 7 SPUH false SAINT PETER'S SOLAR ENERGY SOLUTIONSINC 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 223351339 SOLAR ENERGY NJ NA C CORP. false RISK ASSURANCE CO OF SPUH 94 SOLARIS AVENUE 2ND FLOOR GRAND CAYMAN CAYMAN ISLANDS CJ KY1-1102 980417672 FINANCIAL VEHICLE CJ NA FOREIGN CORP. false SAINT PETER'S SPECIALTY PHYSICIANS PC 254 EASTON AVENUE NEW BRUNSWICK NJ 08901 364761935 HEALTH SVCS. NJ NA C CORP. false false false false true true false false false false false false false false false true true false true false SCHEDULE R, PART V THIS ORGANIZATION IS A MEMBER WITHIN SAINT PETER'S HEALTHCARE SYSTEM, INC. AND AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM. FUNDS ARE ROUTINELY TRANSFERRED BETWEEN AFFILIATES AND BUSINESS ACTIVITIES ARE COMMON ON BEHALF OF THE SYSTEM'S AFFILIATES, INCLUDING THIS ORGANIZATION. THESE TRANSACTIONS MAY BE RECORDED ON THE REVENUE/EXPENSE AND BALANCE SHEET STATEMENTS OF THIS ORGANIZATION AND OTHER AFFILIATES. THESE ENTITIES WORK TOGETHER TO DELIVER HIGH QUALITY COST EFFECTIVE HEALTHCARE AND WELLNESS SERVICES TO THEIR COMMUNITIES REGARDLESS OF ABILITY TO PAY AND IN FURTHERANCE OF CHARITABLE TAX-EXEMPT PURPOSES.