Valley Physician Services PC FY2020 filing

Tax-deductible

Paramus, NJ501(c)(3)Since 2014Health CareEIN 46-5285330

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To provide medical care and carry out the purposes of Valley health system, INC.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
$7.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $2.0M a year · under 1% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$7.5M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $878K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$33.8M
137% of total assets
Concern: liabilities are 137% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$156.1M
Spent
$158.4M
To programs
97%
Net assets
−$9.1M
By yearFY2020–FY2024
Revenue
$156.1M
FY2020
Revenue by fiscal year
FY2020$156.1M
FY2021$185.2M
FY2022$201.0M
FY2023$208.2M
FY2024$229.6M
Expenses
$158.4M
FY2020
Expenses by fiscal year
FY2020$158.4M
FY2021$188.3M
FY2022$204.1M
FY2023$208.2M
FY2024$230.9M
Net assets
−$9.1M
FY2020
Net assets by fiscal year
FY2020−$9.1M
FY2021−$12.2M
FY2022−$15.3M
FY2023−$15.3M
FY2024−$16.6M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2017-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Mar 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $154.0M Management & general 3% · $4.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $7.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
$1,489,899Pt VII · Sec A
Chief of Oncology Surgery
$1,276,207Pt VII · Sec A
Chair, Surgical Services
$1,247,449Pt VII · Sec A
$1,131,623Pt VII · Sec A
Medical Director, Tvh Fertility Center
$937,580Pt VII · Sec A
Treasurer
$827,026Pt VII · Sec A
$549,203Pt VII · Sec A
Senior VP, Finance/CFO Thru 8/2020
$0Pt VII · Sec A

Juan Grau’s $1.7M as Director, Cardiothoracic Surgery is at the 79th percentile of top reported officer pay among 1747 $100M+ health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Juan Grau$1,745,095$1,644,026$1,643,753$1,602,819—
Suneet Mittal$1,673,228————
Paul Burns$1,577,221$1,465,271———
Alex Zapolanski MD————$1,489,899
Alex Zapolanski—$1,006,876$1,310,266$1,480,935—
Thomas Ahlborn MD—$1,146,034$1,265,394$1,328,315$1,247,449
Robert Korst MD——$1,001,459$923,336$1,276,207
Michael Rahmin MD$1,232,071$1,198,374$1,225,822$1,183,432$1,131,623

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides medical care and supports health system purposes.

Provided by the organization

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1 program · $154.0M · in their own filed words · FY2020
01

Valley physician services, P.C. Rendered medical care to a total of 454,319 patients. Medical care provided was in the fields of family medicine, internal medicine, cardiology, OB/GYN, urgent care and endocrinology. Valley physician services, P.C. Also provide strategic programs to valley hospital, inc.

$154.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$878K
Grants paid · 6 grants · $171.9M · 2020–2024
Valley Hospital INCNJ · FY2024$28,475,490
Valley Hospital INCNJ · FY2023$27,076,288
Valley Hospital INCNJ · FY2022$47,852,914
Valley Hospital INCNJ · FY2021$44,133,513
Valley Hospital INCNJ · FY2020$14,736,696
Valley Physician Servcies INCNJ · FY2020$9,648,216

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$156.1M
Ln 12
Fees for servicesLn 2g$152.3M
Gifts and grantsLn 1h$3.9M
Other incomeLn 4–11$5K
Money outPt IX
$158.4M
Ln 25
Programscol B$154.0M
Managementcol C$4.3M
Owns and owesPt X
−$9.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$24.7M
LiabilitiesLn 26$33.8M
PeoplePt VI, VII
11
listed · VII A
PaidVII A7
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.9M
Government grantsLn 1e$3.0M
Fees for servicesLn 2g$152.3M
Other incomeLn 4–11$5K
Total revenueLn 12$156.1M
Assets in detailPt X, end of year
CashLn 1$2.3M
Cash and savings togetherLn 1–2$2.3M
Other assetsLn 15$8.2M
Total assetsLn 16$24.7M
LiabilitiesLn 26$33.8M
Net assetsLn 32−$9.1M
OperationsPt I, VI
EmployeesI 5445
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$5.4M$2.3M
Total assetsLn 16$20.8M$24.7M
LiabilitiesLn 26$27.3M$33.8M
Net assetsLn 32−$6.5M−$9.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$24.4M$24.4M
Pay of current officers, directors and key staffLn 5$1.4M$1.4M$3K
Other salaries and wagesLn 7$101.7M$101.5M$192K
Pension plan contributionsLn 8$2.4M$2.4M$13K
Other employee benefitsLn 9$2.5M$2.5M
Payroll taxesLn 10$4.2M$4.2M$61K
Management feesLn 11a$2.8M$2.8M
Other fees for servicesLn 11g$14.6M$10.5M$4.0M
Advertising and promotionLn 12$239$239
Office expensesLn 13$443K$426K$17K
Information technologyLn 14$1K$1K
TravelLn 17$24K$24K$232
Conferences, conventions and meetingsLn 19$890$307$583
InsuranceLn 23$3.1M$3.1M
Other expenses (24a–d)Ln 24$761K$761K
Total functional expensesLn 25$158.4M$154.0M$4.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $229.6M$230.9M−$1.3M−$16.6M 990 PDF
FY2023 $208.2M$208.2M$0−$15.3M 990 PDF
FY2022 $201.0M$204.1M−$3.1M−$15.3M 990 PDF
FY2021 $185.2M$188.3M−$3.1M−$12.2M 990 PDF
FY2020 Viewing $156.1M$158.4M−$2.2M−$9.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $156,131,506 across 6 lines filed
VIII-1d Related organizations$877,632
VIII-1e Government grants$2,983,156
VIII-1h Total contributions, gifts and grants$3,860,788
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $152,265,272$152,265,272
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $5,446$5,446
VIII-12 Total revenueRelated to mission $152,265,272 · Unrelated business $0 · Excluded from tax $5,446$156,131,506
Part IX · Statement of functional expenses $158,376,597 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $24,386,912$24,386,912
IX-5 Pay of current officers, directors and key staffPrograms $1,415,734 · Management $2,704$1,418,438
IX-7 Other salaries and wagesPrograms $101,478,977 · Management $191,810$101,670,787
IX-8 Pension plan contributionsPrograms $2,405,989 · Management $13,140$2,419,129
IX-9 Other employee benefitsPrograms $2,470,545$2,470,545
IX-10 Payroll taxesPrograms $4,162,446 · Management $60,838$4,223,284
IX-11a Management feesPrograms $2,827,388$2,827,388
IX-11g Other fees for servicesPrograms $10,547,245 · Management $4,049,145$14,596,390
IX-12 Advertising and promotionPrograms $239$239
IX-13 Office expensesPrograms $426,423 · Management $16,664$443,087
IX-14 Information technologyPrograms $1,002$1,002
IX-17 TravelPrograms $24,108 · Management $232$24,340
IX-19 Conferences, conventions and meetingsPrograms $307 · Management $583$890
IX-23 InsurancePrograms $3,132,925$3,132,925
IX-24 Other expenses (24a–d)Programs $761,241$761,241
IX-25 Total functional expensesPrograms $154,041,481 · Management $4,335,116 · Fundraising $0$158,376,597
Part X · Balance sheet $24,664,339 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $5,372,072$2,339,354
X-4 Accounts receivableStart of year $15,415,870$14,083,107
X-15 Other assetsStart of year $0$8,241,878
X-16 Total assetsStart of year $20,787,942$24,664,339
X-17 Accounts payable and accrued expensesStart of year $27,334,192$22,685,499
X-25 Other liabilitiesStart of year $0$11,071,430
X-26 Total liabilitiesStart of year $27,334,192$33,756,929
X-32 Total net assets or fund balancesStart of year −$6,546,250−$9,092,590
X-33 Total liabilities and net assetsStart of year $20,787,942$24,664,339
Part XI · Reconciliation of net assets −$9,092,590 net assets at year end
XI-1 Total revenue$156,131,506
XI-2 Total expenses$158,376,597
XI-3 Revenue less expenses−$2,245,091
XI-4 Net assets at start of year−$6,546,250
XI-9 Other changes in net assets−$301,251
XI-10 Net assets at end of year−$9,092,590

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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