2025-11-14T10:58:26-06:00 2024-12-31 WithumSmithBrown PC 200 Jefferson Park Suite 400 Whippany NJ 079811070 990 2024-01-01 226064970 HEALTH RESEARCH & EDUCATIONAL TRUST OF NEW JERSEY % CHRISTOPHER BAILEY HEAL 6092754000 760 ALEXANDER ROAD po box 1 PRINCETON NJ 085430001 CHRISTOPHER BAILEY CFO 6092754000 2025-11-13 true true Scott J Mariani P00642486 9738989494 2024 2025-03-06 01:10:19Z CHRISTOPHER BAILEY 760 ALEXANDER ROAD po box 1 PRINCETON NJ 08543 2862505 false X WWW.NJHA.COM/HRET/INDEX.ASP X 1964 NJ THE ORGANIZATION WAS ESTABLISHED IN 1964 BY THE NEW JERSEY HOSPITAL ASSOCIATION. THE TRUST'S MISSION IS TO ENGAGE IN RESEARCH & EDUCATIONAL ACTIVITIES THAT SUPPORT HEALTHCARE PROVIDERS IN DELIVERING ACCESSIBLE, AFFORDABLE & QUALITY CARE. 23 21 9 0 0 0 1447099 1838484 649107 432268 266212 134094 0 619 2362418 2405465 0 0 0 0 696362 1138161 0 0 0 1228026 1483502 1924388 2621663 438030 -216198 6204317 6419335 120140 169310 6084177 6250025 X THE health research and educational trust of new jersey was established in 1964 by the new jersey hospital association. THE health research and educational trust of new jersey'S MISSION IS TO ENGAGE IN RESEARCH AND EDUCATIONAL ACTIVITIES THAT SUPPORT HEALTHCARE PROVIDERS IN DELIVERING ACCESSIBLE, AFFORDABLE, AND QUALITY CARE AND IN FOSTERING WELLNESS IN THEIR COMMUNITIES. false false 1750892 0 203535 RESEARCH, QUALITY & STAFFING: HRET RESEARCH AND QUALITY PROVIDE LEADERSHIP IN HEALTHCARE QUALITY AND SAFETY. HRET AT A STATE LEVEL HAS COMMITTED TO EDUCATION AND RESEARCH EFFORTS TO IMPROVE THE CARE OF PATIENTS AND FOCUSING ON MATERNAL AND CHILD HEALTH, QUALITY IMPROVEMENT AND PATIENT SAFETY, HEALTHCARE RESOURCES, MENTAL HEALTH & SUBSTANCE ABUSE, INCLUDING THE GARDEN STATE PATIENT SAFETY CENTER. 356899 0 118164 EDUCATION: HRET EDUCATION PROVIDES CONTINUING EDUCATION PROGRAMS FOR TRUSTEES, CEO'S, MANAGERS, ETC., WORKING IN THE NEW JERSEY HEALTHCARE ORGANIZATIONS AND COMMUNITIES. EDUCATION DESIGNS, PROVIDES WORKSHOPS, CONFERENCES, SEMINARS AND WEBINARS, AND OFFERS CONTINUING EDUCATION CREDITS TO A VARIETY OF DISCIPLINES. THESE CONTINUING EDUCATION PROGRAMS ADDRESS A BROAD SPECTRUM OF HEALTHCARE TOPICS. THESE INCLUDE, BUT ARE NOT LIMITED TO IMPROVING TRANSITIONS OF CARE ACROSS THE CONTINUUM, QUALITY IMPROVEMENT THROUGH COMMUNITY ORGANIZING: EQUIPPING LEADERS FOR A NEW HEALTH SYSTEM, PERINATAL MORBIDITY AND MORTALITY, AND SUICIDE & STIGMA: TAKING THE CONVERSATION OUT OF THE SHADOWS. 15000 0 110569 DATA REPORTER: HRET DATA REPORTER HELPS NEW JERSEY HOSPITALS TO ENHANCE THEIR QUALITY OF CARE AND PATIENT SAFETY, AND IMPROVE THE ACCURACY AND RELIABILITY OF PATIENT DATA INFORMATION COLLECTED AT REGISTRATION. COLLECTS HOSPITAL UNIFORM DATA FOR ANALYSIS BY THE HEALTHCARE INDUSTRY. 2122791 true true false false false false false false false false true false false true true true true true false false false 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 X 24 0 true 9 true false false false false false false false false false false false false X 23 21 false false false false true true false true true false false true true true true true true true true false NJ X CHRISTOPHER BAILEY 6092754000 760 ALEXANDER ROAD PRINCETON NJ 08543 X Cathleen D Bennett TRUSTEE - PRESIDENT & CEO 55.0 0.0 X X 0 1391050 336083 CHRISTOPHER BAILEY ASSISTANT TREASURER - TRUSTEE 55.0 0.0 X X 0 456793 104304 RAYMOND A BRANDES chief operating officer 55.0 0.0 X 0 413280 59971 LILIANA MORALES PROJECT MANAGER - AIM 55.0 0.0 X 165088 0 25996 JENNIFER MARIE BARRETt-SRYFI DIRECTOR, PROGRAM DEVELOPment 55.0 0.0 X 118022 0 12856 CINDY A SORG ASSistant SEC. (term 12/24) 55.0 0.0 X 0 90823 17642 BELINDA B COOPER CHRO (term 1/24) 55.0 0.0 X 0 36536 1573 DEBORAH D VISCONI TREAS & CHAIR FIN COMM-TRUSTEE 1.0 0.0 X X 0 2200 0 WILLIAM S ARNOLD TURSTEE; EX-OFFICIO 1.0 0.0 X 0 1900 0 FRANK A GHINASSI CHAIR - TRUSTEE 1.0 0.0 X X 0 0 0 JOSE AZAR VICE CHAIR - TRUSTEE 1.0 0.0 X X 0 0 0 ROBERT W BRENNER SECRETARY - TRUSTEE 1.0 0.0 X X 0 0 0 VINCENT BARBA TRUSTEE 1.0 0.0 X 0 0 0 MARY ELLEN CLYNE TRUSTEE 1.0 0.0 X 0 0 0 PHILIP J DRISCOLL TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH DUFFY TRUSTEE 1.0 0.0 X 0 0 0 KAREN FREEMAN TRUSTEE 1.0 0.0 X 0 0 0 KATHLEEN KAMINSKY TRUSTEE 1.0 0.0 X 0 0 0 DONNA R LAWSON TRUSTEE 1.0 0.0 X 0 0 0 MICHELE MORRISON TRUSTEE 1.0 0.0 X 0 0 0 MEIKA TYLESE NEBLETT TRUSTEE 1.0 0.0 X 0 0 0 MICHELLE O'KEEFE TRUSTEE 1.0 0.0 X 0 0 0 ALAN R POPE TRUSTEE 1.0 0.0 X 0 0 0 ALMA S RATCLIFFE TRUSTEE 1.0 0.0 X 0 0 0 STEPHANIE SCHWARTZ TRUSTEE 1.0 0.0 X 0 0 0 ALAN SICKLES TRUSTEE 1.0 0.0 X 0 0 0 DEANNA SPERLING TRUSTEE 1.0 0.0 X 0 0 0 LYDIA STOCKMAN TRUSTEE 1.0 0.0 X 0 0 0 283110 2392582 558425 2 false true false PRASSAS CONSULTING 419 FEDERAL CITY ROAD PENNINGTON NJ 08534 EDUCATION & TRAINING 167500 1 1062144 776340 1838484 RESEARCH, QUALITY & STAFFING 611710 203535 203535 EDUCATION 900099 118164 118164 DATA REPORTER 900099 110569 110569 432268 145954 0 145954 0 0 0 0 0 445180 457040 -11860 -11860 -11860 0 0 0 0 0 0 0 0 0 PENSION REVENUE 900099 505 505 OTHER REVENUE 900099 114 114 619 2405465 432268 0 134713 0 0 0 0 0 0 965027 965027 37655 37655 65806 65806 69673 69673 381210 381210 0 0 0 0 9496 9496 0 0 52352 50815 1537 15000 15000 9215 9215 6120 6120 75374 75374 0 113532 113124 408 0 0 0 90907 90907 PURCHASED SERVICES 331121 326301 4820 PROFESSIONAL FEES 296759 296759 EDUCATIONAL SEMINARS 93041 93041 OTHER EXPENSES 9375 5001 4374 2621663 2122791 498872 0 748552 663169 0 0 0 0 300098 383571 0 0 0 0 0 0 0 0 57732 57059 625086 625086 4410681 4585939 0 0 0 0 0 0 687254 729597 6204317 6419335 58609 100212 0 0 5685 11903 0 0 0 0 0 0 0 0 0 0 55846 57195 120140 169310 X 6084177 6250025 0 0 6084177 6250025 6204317 6419335 X -216198 335886 46160 X X false true X true true true X 1984394 2210448 1859383 1119933 1838484 9012642 0 0 1984394 2210448 1859383 1119933 1838484 9012642 1200608 7812034 78501 82632 94545 137538 145954 539170 0 17 100 619 736 9552548 2791670 0.81780 0.79770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 303235 303235 0 291779 291779 0 30072 30072 0 0 PENSION - PREPAID 672402 ASSETS HELD IN TRUST 57195 729597 0 LIAB. FOR ASSETS HELD IN TRUST 57195 57195 X 2741351 335886 335886 2405465 2405465 2621663 2621663 2621663 schedule d, part x HEALTH RESEARCH & EDUCATIONAL TRUST of new jersey HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2024. HEALTH RESEARCH & EDUCATIONAL TRUST of new jersey'S U.S. FEDERAL AND STATE INCOME TAX RETURNS PRIOR TO CALENDAR YEAR 2020 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. X X X X false true false false false false false true false Cathleen D Bennett TRUSTEE - PRESIDENT & CEO 0 898470 0 80910 0 411670 0 306357 0 29726 0 1727133 0 0 CHRISTOPHER BAILEY ASSISTANT TREASURER - TRUSTEE 0 382864 0 70879 0 3050 0 68667 0 35637 0 561097 0 0 RAYMOND A BRANDES chief operating officer 0 349267 0 0 0 64013 0 24150 0 35821 0 473251 0 0 LILIANA MORALES PROJECT MANAGER - AIM 164575 0 0 0 513 0 10433 0 15563 0 191084 0 0 0 SCHEDULE J, PART I; QUESTION 4B The amount reflected in column b(iii) for the following individual includes current year vestings in an internal revenue code section 457(f) plan (non-qualified deferred compensation plan) as the amount was no longer subject to a substantial risk of complete forfeiture. The amount outlined herein was included in her 2024 form w-2, box 5, as taxable medicare wages: CATHLEEN D. BENNETT, $161,458. THE DEFERRED COMPENSATION AMOUNT IN COLUMN C FOR THE FOLLOWING INDIVIDUALS INCLUDES UNVESTED BENEFITS IN AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN) WHICH ARE SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. ACCORDINGLY, THE INDIVIDUALS MAY NEVER ACTUALLY RECEIVE THIS UNVESTED BENEFIT AMOUNT. THE AMOUNTS OUTLINED HEREIN WERE NOT INCLUDED IN EACH INDIVIDUAL'S 2024 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES: CATHLEEN D. BENNETT, $271,857 and Christopher Bailey, $39,342. SCHEDULE J, PART I; QUESTION 7 CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2024 WHICH WAS INCLUDED IN COLUMN B(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. CORE FORM, PART I; LINE 1 THE health research and educational trust of new jersey was established in 1964 by the new jersey hospital association. THE health research and educational trust of new jersey'S MISSION IS TO ENGAGE IN RESEARCH AND EDUCATIONAL ACTIVITIES THAT SUPPORT HEALTHCARE PROVIDERS IN DELIVERING ACCESSIBLE, AFFORDABLE, AND QUALITY CARE AND IN FOSTERING WELLNESS IN THEIR COMMUNITIES. THE TRUST QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE, AND ITS INCOME IS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. core form, part v; question 15 Cathleen d. Bennett is listed as a trustee/officer on this form 990; an uncompensated position. Cathleen d. Bennett is not involved with this organization in any other capacity; she provides no services to or for this organization and is not involved in the management of this organization. She serves as the president and chief executive officer of the new jersey hospital association and njha healthcare business solutions, inc.; related organizations. Accordingly, her common law employer/employee relationship is with both the new jersey hospital association (ein: 21-0618622) and njha healthcare business solutions, inc. (ein: 22-2325161). The new jersey hospital association and njha healthcare business solutions, inc. Each filed a 2024 federal form 4720 which included a remittance of excise tax related to ms. Bennett's compensation in excess of $1m. CORE FORM, PART VI, SECTION A; QUESTION 6 & 7 The members of this organization consist of representatives from hospitals within the state of New Jersey. The board of trustees is elected by the member hospitals. CORE FORM, PART VI, SECTION B; QUESTION 11B This organization's federal Form 990 was provided to each voting member of the organization's governing body, its board of directors, prior to filing with the Internal Revenue Service ("IRS"). As part of the organization's federal Form 990 tax return preparation process the system hired a professional certified public accounting ("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 various other 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 internal working group for review. The 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 internal working group for final review and approval. Following this review, the Form 990 was then provided to the new jersey hospital association's audit and compliance committee and subsequently 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 IN ACCORDANCE WITH THE New Jersey Hospital Association ("NJHA") "CODE OF CONDUCT", ALL EMPLOYEES ARE REQUIRED TO REPORT ANY "CONFLICT OF INTEREST" (WHICH INCLUDES FAMILIAL OR BUSINESS RELATIONSHIPS WITH OTHER NJHA EMPLOYEES) TO THE NJHA COMPLIANCE OFFICER AND THEIR SUPERVISOR. THIS IS DONE ON A "SELF DISCLOSURE INCIDENT REPORTING FORM". ALL EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE THEIR UNDERSTANDING OF THIS POLICY, IN WRITING, ON AN ANNUAL BASIS AS PART OF THEIR ANNUAL REVIEW PROCESS. ALL EMPLOYEES MUST ALSO ATTEND A MANDATORY "COMPLIANCE TRAINING" SESSION ANNUALLY. ADDITIONALLY, TRUSTEES MUST ALSO COMPLETE A "CONFLICT OF INTEREST" FORM ANNUALLY, DISCLOSING ANY POTENTIAL CONFLICTS. NJHA ALSO USES A "1-800" HOTLINE FOR CODE OF CONDUCT VIOLATION REPORTING. CORE FORM, PART VI, SECTION B; QUESTION 15 OUTSIDE COMPENSATION CONSULTANTS ROUTINELY REVIEW TOTAL COMPENSATION FOR THE CEO, CFO AND OTHER SENIOR MANAGEMENT PERSONNEL WITH THE EXECUTIVE COMPENSATION COMMITTE. OTHER MEMBERS OF UPPER MANAGEMENT ARE PERIODICALLY REVIEWED AND ASSESSED USING DATA OBTAINED VIA PUBLISHED SURVEYS, WRITTEN EMPLOYMENT CONTRACTS AND OTHER EXTERNAL MARKET DATA, INTERNAL EQUITY CONCERNS AND RELATIVE PERFORMANCE CONCERNS AND RELATIVE PERFORMANCE. CORE FORM, PART VI, SECTION C; QUESTION 19 The organization's GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. IN ADDITION, 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. 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 RELATED ORGANIZATIONS. PLEASE NOTE THIS REMUNERATION WAS FOR SERVICES RENDERED AS FULL-TIME EMPLOYEES OF THE RELATED ORGANIZATIONS AND NOT FOR SERVICES RENDERED AS A VOTING MEMBER OR OFFICER OF THIS ORGANIZATION'S GOVERNING BODY. CORE FORM, PART VII, SECTION A, COLUMN B THIS ORGANIZATION IS AN AFFILIATE WITHIN NEW JERSEY HOSPITAL ASSOCIATION ("THE ASSOCIATION"). CERTAIN BOARD OF TRUSTEE MEMBERS, OFFICERS AND/OR DIRECTORS LISTED ON CORE FORM, PART VII AND SCHEDULE J OF THIS FORM 990 MAY HOLD SIMILAR POSITIONS WITH BOTH THIS ORGANIZATION AND OTHER AFFILIATES OF THE ASSOCIATION. 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 OF THE ASSOCIATION, 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 PART VII OF THIS FORM 990, FOR BOARD MEMBERS WHO RECEIVE COMPENSATION FOR SERVICES RENDERED IN A NON-BOARD CAPACITY, PAID OFFICERS AND KEY EMPLOYEES, REFLECT TOTAL HOURS WORKED PER WEEK ON BEHALF OF THE ASSOCIATION; NOT SOLELY THIS ORGANIZATION. CORE FORM, PART XI; question 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCE INCLUDE: - PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION CREDIT - $46,160. CORE FORM, PART XII; QUESTION 2 An independent cpa firm audited the consolidated financial statements of new jersey hospital association and affiliates for the years ended december 31, 2024 and december 31, 2023; respectively, and issued a consolidated financial statement with consolidating schedules by entity. An unmodified opinion was issued each year by the independent CPA firm. The New Jersey Hospital Association's audit and compliance committee assumes responsibility for the oversight of the audit of the financial statements and the selection of an independent auditor. In addition, an independent cpa firm audited the financial statements of the health research & educational trust of new jersey for the years ended december 31, 2024 and december 31, 2023; respectively. The independent cpa firm issued an unmodified opinion with respect to the audited financial statements. The new jersey hospital association's audit and compliance committee has assumed responsibility for the oversight of the audit of the financial statements, and the selection of an independent auditor. CORE FORM, PART XII; QUESTION 3 This organization engaged an independent accounting firm to prepare and issue an audit under the Single Audit Act and OMB Circular A-133. NEW JERSEY HOSPITAL ASSOCIATION 760 ALEXANDER ROAD PO BOX 1 PRINCETON NJ 08543 210618622 TRADE ASSOC. NJ 501(C)(6) N/A false HEALTHCARE EMPLOYEES FED CREDIT UNION 29 EMMONS DRIVE PRINCETON NJ 08540 222570818 COOP FIN INST NJ 501(C)(1) N/A false NJHA HEALTH POLITICAL ACTION COMMITTEE 760 ALEXANDER ROAD PO BOX 1 PRINCETON NJ 08543 222978626 PAC NJ 527 N/A false NJHA HEALTHCARE BUSINESS SOLUTIONS INC 760 ALEXANDER ROAD PO BOX 1 PRINCETON NJ 08543 222325161 ADMINISTRATIVE NJ NA C CORP false NEW JERSEY HOSPITAL ASSOCIATION INS FUND 760 ALEXANDER ROAD PO BOX 1 PRINCETON NJ 08543 226136100 PURCHASE GROUP NJ NA TRUST false false false false false false false false false false false true true true false true false false true true new jersey hospital association L 50434 COST NJHA HEALTHCARE BUSINESS SOLUTIONS INC L 89651 COST new jersey hospital association M 91838 COST NJHA HEALTHCARE BUSINESS SOLUTIONS INC M 429457 COST new jersey hospital association O 229081 COST SCHEDULE R, PART V This organization is a member of the new jersey hospital association and affiliates (the "association"). Funds are routinely transferred between affiliates and business activities are common on behalf of the association'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 promote the concerns of the healthcare industry and fine solutions to common issues and in furtherance of charitable tax-exempt purposes.