Hackensack Meridian Health Inc
Hackensack Meridian Health Inc. shows consistent revenue growth and strong asset base, with unusual 0% officer compensation reported on 990s.
EIN: 10649794 · Edison, NJ · NTEE: E21 · Updated: 2026-03-27
| Metric | Value |
|---|---|
| Total Revenue | $8.9B |
| Total Expenses | $7.1B |
| Program Spending | 95% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $5.5B |
| Transparency Score | 75/100 |
Is Hackensack Meridian Health Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hackensack Meridian Health Inc directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hackensack Meridian Health Inc
Hackensack Meridian Health Inc (EIN: 10649794) is a nonprofit organization based in Edison, NJ, classified under NTEE code E21. The organization reported total revenue of $8.9B and total assets of $7.6B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hackensack Meridian Health Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hackensack Meridian Health Inc is a major nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.5B |
| Total Expenses | $7.1B |
| Surplus / Deficit | +$323.2M |
| Total Assets | $7.1B |
| Total Liabilities | $1.6B |
| Net Assets | $5.5B |
| Operating Margin | 4.3% |
| Debt-to-Asset Ratio | 22.7% |
| Months of Reserves | 12.0 months |
Financial Health Grade: A
In 2023, Hackensack Meridian Health Inc reported a surplus of $323.2M with revenue exceeding expenses, holds 12.0 months of operating reserves (strong position), has a debt-to-asset ratio of 22.7% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hackensack Meridian Health Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.9% | +8.3% | +8.0% |
| 2022 | +4.2% | +7.0% | +5.9% |
| 2021 | +8.9% | +7.1% | -19.1% |
| 2020 | +5.7% | +10.1% | +11.5% |
| 2019 | +9.4% | +9.5% | -3.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hackensack Meridian Health Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 3%
- programs: 95%
- fundraising: 2%
According to IRS 990 filings, Hackensack Meridian Health Inc allocates its expenses as follows: admin: 3%, programs: 95%, fundraising: 2%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $323.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 22.7%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% for officer compensation across all available periods. For an organization with revenues exceeding $7 billion, this is highly atypical and suggests that executive compensation may be reported through a related entity or categorized differently, making it difficult to assess compensation relative to organizational size and mission directly from these filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hackensack Meridian Health Inc's IRS 990 filings:
- Unusual 0% officer compensation reported on 990s for a large organization, potentially obscuring executive pay details.
Strengths
The following positive indicators were identified for Hackensack Meridian Health Inc:
- Consistent and substantial revenue growth over the past decade, from $1.73 billion in 2014 to $7.47 billion in 2023.
- Strong asset base ($7.13 billion in 2023) significantly exceeding liabilities ($1.62 billion in 2023), indicating robust financial health.
- High proportion of expenses likely dedicated to program services, given the nature of a large healthcare system and the total expense figures relative to revenue.
Frequently Asked Questions about Hackensack Meridian Health Inc
Is Hackensack Meridian Health Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hackensack Meridian Health Inc (EIN: 10649794) some concerns. Mission Score: 75/100. 1 red flag identified, 3 strengths noted.
How does Hackensack Meridian Health Inc spend its money?
Hackensack Meridian Health Inc directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hackensack Meridian Health Inc tax-deductible?
Hackensack Meridian Health Inc is registered as a tax-exempt nonprofit (EIN: 10649794). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hackensack Meridian Health Inc CEO make?
Hackensack Meridian Health Inc's highest-compensated officer earns $7 annually. The organization reported $8.9B in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Hackensack Meridian Health Inc's spending goes to programs?
Hackensack Meridian Health Inc directs 95% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hackensack Meridian Health Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Hackensack Meridian Health Inc is above average for NTEE category E21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hackensack Meridian Health Inc located?
Hackensack Meridian Health Inc is headquartered in Edison, New Jersey and files with the IRS under EIN 10649794. It is classified under NTEE code E21.
How many years of IRS 990 filings does Hackensack Meridian Health Inc have?
Hackensack Meridian Health Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $8.9B in total revenue.
How is executive compensation for Hackensack Meridian Health Inc. truly structured and reported, given the 0% reported on the 990s?
The consistent reporting of 0% for officer compensation on the IRS 990s for an organization of this scale (over $7 billion in revenue) is highly unusual. It suggests that executive compensation might be paid through a related entity, a management services organization, or categorized under different expense lines not explicitly labeled as 'officer compensation' on the public 990 form. Further investigation into consolidated financial statements or other disclosures would be necessary to understand the full picture of executive remuneration.
What is the actual program spending ratio for Hackensack Meridian Health Inc.?
Based on the latest available data (2023), Hackensack Meridian Health Inc. reported $7,466,842,942 in revenue and $7,143,661,248 in total expenses. Assuming the vast majority of these expenses are directly related to their healthcare programs, the program spending ratio appears very high, indicating a strong focus on its core mission. However, without a detailed breakdown of expenses on the 990, a precise program spending percentage is an estimate.
Is Hackensack Meridian Health Inc. financially stable?
Yes, Hackensack Meridian Health Inc. appears financially stable. Its assets of $7,132,525,682 significantly outweigh its liabilities of $1,621,354,158 in 2023, indicating a strong balance sheet. The organization has also demonstrated consistent revenue growth over the past decade, from $1.73 billion in 2014 to $7.47 billion in 2023, further supporting its financial health.
Filing History
IRS 990 filing history for Hackensack Meridian Health Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hackensack Meridian Health Inc's revenue has grown by 425%, moving from $1.4B to $7.5B. Total assets increased by 291.3% over the same period, from $1.8B to $7.1B. Total functional expenses rose by 435.8%, from $1.3B to $7.1B. In its most recent filing year (2023), Hackensack Meridian Health Inc reported a surplus of $323.2M, with revenue exceeding expenses. The organization holds $1.6B in liabilities against $7.1B in assets (debt-to-asset ratio: 22.7%), resulting in net assets of $5.5B.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.5B | $7.1B | $7.1B | $1.6B | — | — |
| 2022 | $6.7B | $6.6B | $6.6B | $1.8B | — | View 990 |
| 2021 | $6.4B | $6.2B | $6.2B | $2.0B | — | View 990 |
| 2020 | $5.9B | $5.8B | $7.7B | $3.8B | — | View 990 |
| 2019 | $5.6B | $5.2B | $6.9B | $3.1B | — | View 990 |
| 2018 | $5.1B | $4.8B | $7.2B | $3.9B | — | View 990 |
| 2017 | $2.6B | $2.4B | $3.5B | $1.4B | — | View 990 |
| 2016 | $2.5B | $2.2B | $3.4B | $1.6B | — | View 990 |
| 2015 | $1.9B | $1.7B | $2.7B | $1.3B | — | View 990 |
| 2014 | $1.7B | $1.6B | $2.4B | $1.2B | — | View 990 |
| 2013 | $1.6B | $1.5B | $2.2B | $1.1B | — | View 990 |
| 2012 | $1.6B | $1.6B | $2.0B | $1.2B | — | View 990 |
| 2011 | $1.4B | $1.3B | $1.8B | $1.1B | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.5B, expenses of $7.1B, and assets of $7.1B (revenue +11.9% year-over-year).
- 2022: Revenue of $6.7B, expenses of $6.6B, and assets of $6.6B (revenue +4.2% year-over-year).
- 2021: Revenue of $6.4B, expenses of $6.2B, and assets of $6.2B (revenue +8.9% year-over-year).
- 2020: Revenue of $5.9B, expenses of $5.8B, and assets of $7.7B (revenue +5.7% year-over-year).
- 2019: Revenue of $5.6B, expenses of $5.2B, and assets of $6.9B (revenue +9.4% year-over-year).
- 2018: Revenue of $5.1B, expenses of $4.8B, and assets of $7.2B (revenue +98.2% year-over-year).
- 2017: Revenue of $2.6B, expenses of $2.4B, and assets of $3.5B (revenue +3.1% year-over-year).
- 2016: Revenue of $2.5B, expenses of $2.2B, and assets of $3.4B (revenue +33.5% year-over-year).
- 2015: Revenue of $1.9B, expenses of $1.7B, and assets of $2.7B (revenue +8.0% year-over-year).
- 2014: Revenue of $1.7B, expenses of $1.6B, and assets of $2.4B (revenue +7.4% year-over-year).
- 2013: Revenue of $1.6B, expenses of $1.5B, and assets of $2.2B (revenue -1.0% year-over-year).
- 2012: Revenue of $1.6B, expenses of $1.6B, and assets of $2.0B (revenue +14.2% year-over-year).
- 2011: Revenue of $1.4B, expenses of $1.3B, and assets of $1.8B.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hackensack Meridian Health Inc:
Data Sources and Methodology
This transparency report for Hackensack Meridian Health Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.