Atlantic Health System INC EIN 65-1301877

Atlantic Health System INC

EIN  65-1301877 Supporting organization Morristown, NJ Founded 1996
Form 990 (PDF) Compare with another nonprofit →
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Size
$100M+
What they do
Delivers high-quality, personalized healthcare services through a network of five hospitals to build healthier communities and improve lives for patients and caregivers in New Jersey.
Leadership
Brian Gragnolati · President & CEO · $9.7M
Money in and out
$4.8B revenue, $4.5B expenses
Bottom line
+6% net inflow

Delivers high-quality, personalized healthcare services through a network of five hospitals to build healthier communities and improve lives for patients and caregivers in New Jersey. For fiscal year 2024 it reported $4.8B in revenue, $4.5B in expenses, and $3.6B in net assets.Pt I

Money in and out · FY2024
Total revenue
$4.8B
Pt VIII · Ln 12
Total expenses
$4.5B
Pt IX · Ln 25
Net assets
$3.6B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $304.1M
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.16 Fundraising $0.00
Net inflow
+6%
revenue over expenses, this year▲ +21% vs prior filing year
Pass-through gifts
2%
of revenue from contributions▼ -15% vs prior filing year
Program spending
84%
of expenses reach stated programs▲ +1% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$4.8B
FY2024▲ +12%
Expenses
$4.5B
FY2024▲ +11%
Total assets
$6.3B
FY2024▲ +4%
Total liabilities
$2.7B
FY2024▲ +1%
Total revenue
$4.8B
Pt VIII · Ln 12
Total expenses
$4.5B
Pt IX · Ln 25
Net assets
$3.6B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$304.1M
Total assetsPt X · Ln 16$6.3B
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 339
Independent voting membersPt I · Ln 416
Mission & Programs · Part III

Where the work happens

1 program service account for $3.8B of program spending, described in the organization's own filed words · FY2024.
01

This Group Return Consists of the Following Subordinates

AHS Hospital Corp.(the "Hospital") is comprised of five hospitals, the Morristown Medical Center ("Morristown Division"), the Overlook Medical Center ("Overlook Division"), the Newton Medical Center ("Newton Division"),the Chilton Medical Center ("Chilton Division"), Hackettstown Medical Center ("Hackettstown Division").

$3.8Bprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAtlantic Health System INC
EINHdr · item D65-1301877
Principal addressHdr · item CMorristown, NJ
WebsiteHdr · item Jwww.atlantichealth.org
Year of formationHdr · item L1996
State of legal domicileHdr · item MNJ
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFSep 2006

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a39
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President & CEO
$9,720,812Pt VII · Sec A
Physician-Chair
$4,233,750Pt VII · Sec A
Evp,chief Bus-Strat Officer
$2,924,716Pt VII · Sec A
Svp,pres Mmc
$2,289,794Pt VII · Sec A
Evp,chief Health Sy Officer
$2,046,993Pt VII · Sec A
Evp,chief Phy Exec
$1,964,734Pt VII · Sec A
Physician
$1,929,848Pt VII · Sec A
Evp,chief-Inf/Dig/Tr Offficer
$1,889,710Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Brian Gragnolati$9,720,812$8,373,068$5,942,931$5,694,565$4,214,047
Kevin Lenahan$2,924,716$6,754,515$4,617,182$2,093,426$1,883,063
James Wittig MD$4,233,750$3,829,922$3,468,103$2,604,929$2,527,875
Amy Perry-Termed 103121$2,394,486
Patricia O'Keefe$2,289,794$1,781,450$1,657,797$1,693,445$1,338,331
Amy Perry$2,201,976
Scott Leighty$2,046,993$1,464,724$644,527
Steven Sheris MD$1,964,734$1,817,270$1,955,174$1,724,934$1,403,663

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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Statement of Revenue

Part VIII
Program service revenue$4.4B · 93%
Investment income$172.9M · 4%
Contributions & grants$117.7M · 2%
Other revenue$30.3M · 1%
Program service revenue93%$4.4B
Investment income4%$172.9M
Contributions & grants2%$117.7M
Other revenue1%$30.3M
— government grantsLn 1e$82.2M
Total revenueLn 12$4.8B

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.16 Fundraising $0.00
Program services84%$3.8B
Management & general16%$703.9M
Fundraising$3.8M
Total functional expensesLn 25$4.5B

Balance Sheet

Part X · end of year
CashLn 1$251.2M
Total assetsLn 16$6.3B
Total liabilitiesLn 26$2.7B
Total net assetsLn 32$3.6B
Months of cash on handcomputed0.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.1B · Operating expenses/yr $4.5B
8.4 months
Where the money goes
Program services
Program services $3.8B · Total expenses $4.5B
84%
Management & General
Management & general $703.9M · Total expenses $4.5B
16%
Fundraising
Fundraising $3.8M · Total expenses $4.5B
0%
Cost to raise $1
Fundraising expense (3-yr avg) $3.4M · Solicited contributions (3-yr avg) $23.9M
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $117.7M · Total revenue $4.8B
2%
Government reliance
Government grants $82.2M · Total revenue $4.8B
2%
Earned-income share
Program service revenue $4.4B · Total revenue $4.8B
93%
Investment reliance
Investment income $172.9M · Total revenue $4.8B
+4%
Program self-sufficiency
Program service revenue $4.4B · Total expenses $4.5B
100%
Growth & trend
Revenue growth (YoY)
This year $4.8B · Prior year $4.2B
+12%
Revenue CAGR
FY2020 $3.3B · FY2024 $4.8B
+10%
Net-asset trend (YoY)
End of year $3.6B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $4.8B · Expenses $4.5B
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $6.3B
Net-asset ratio
Net assets $3.6B · Total assets $6.3B
58%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $2.9B · Other securities (Pt X, ln 12) $7.9M · Total assets (Pt X, ln 16) $6.3B
45%
People & payroll
Highest Reported Total Compensation
Individual Brian Gragnolati · Reported title President & CEO · Highest reported compensation $9.7M · Total expenses $4.5B
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.5B · Total expenses $4.5B
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%
Overhead ratio 16%
Fundraising cost ratio 3%
Revenue growth 12%
Legal fee ratio 0%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$10K
Grants paid · 221 grants · $4.6M · 2020–2024
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$4.8B revenue · viewing · ⤓ 990 PDF
FY2023$4.2B revenue · ⤓ 990 PDF
FY2022$3.9B revenue · ⤓ 990 PDF
FY2021$3.7B revenue · ⤓ 990 PDF
FY2020$3.3B revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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