Civic Intelligence

The Matheny School and Hospital Inc

EIN 22-1482276 • 501(c)3 • Peapack, NJ

Profile

The mission of matheny school and hospital is to optimize the quality of life for individuals with developmental disabilities and significant functional impairments.

65 Highland Avenue PO Box 339Peapack, NJ 07977

www.matheny.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

39th percentile

0.21x

Higher debt load relative to assets than 39% of similar nonprofits.

NTEE B • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

28th percentile

0.27x

Higher debt load relative to revenue than 28% of similar nonprofits.

NTEE B • $50M-$100M nonprofits • Source year 2024

Net Margin

46th percentile

1.1%

Higher net margin than 46% of similar nonprofits.

NTEE B • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

84th percentile

$577,827

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

NTEE B • $50M-$100M nonprofits • Source year 2024

Asset Growth

56th percentile

5.5%

Faster asset growth than 56% of similar nonprofits.

NTEE B • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

52nd percentile

4.8%

Faster revenue growth than 52% of similar nonprofits.

NTEE B • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$77,232,668

Up $3,991,890 (+5.5%) from 2023

Liabilities

Down

$16,133,434

Down $277,775 (-1.7%) from 2023

Net Assets

Up

$61,099,234

Up $4,269,665 (+7.5%) from 2023

Revenue

Up

$60,516,205

Up $2,779,254 (+4.8%) from 2023

Expenses

Up

$59,869,501

Up $2,057,321 (+3.6%) from 2023

Net Income

Up

$646,704

Up $721,933 (+960%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2010: $49,170,129Liabilities 2010: $9,745,404Net Assets 2010: $39,424,7252010Assets 2011: $52,795,784Liabilities 2011: $10,541,303Net Assets 2011: $42,254,4812011Assets 2012: $50,244,966Liabilities 2012: $8,926,351Net Assets 2012: $41,318,6152012Assets 2013: $48,633,782Liabilities 2013: $9,337,787Net Assets 2013: $39,295,9952013Assets 2014: $53,520,225Liabilities 2014: $9,820,775Net Assets 2014: $43,699,4502014Assets 2015: $51,177,947Liabilities 2015: $8,854,740Net Assets 2015: $42,323,2072015Assets 2016: $50,599,952Liabilities 2016: $7,423,538Net Assets 2016: $43,176,4142016Assets 2017: $54,548,825Liabilities 2017: $7,441,505Net Assets 2017: $47,107,3202017Assets 2018: $56,177,669Liabilities 2018: $8,074,163Net Assets 2018: $48,103,5062018Assets 2019: $56,434,935Liabilities 2019: $7,852,340Net Assets 2019: $48,582,5952019Assets 2020: $57,189,321Liabilities 2020: $7,284,904Net Assets 2020: $49,904,4172020Assets 2021: $69,499,999Liabilities 2021: $8,213,420Net Assets 2021: $61,286,5792021Assets 2022: $67,665,322Liabilities 2022: $12,196,208Net Assets 2022: $55,469,1142022Assets 2023: $73,240,778Liabilities 2023: $16,411,209Net Assets 2023: $56,829,5692023Assets 2024: $77,232,668Liabilities 2024: $16,133,434Net Assets 2024: $61,099,2342024

Highlighted filing

2024

Assets$77,232,668
Liabilities$16,133,434
Net Assets$61,099,234

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0-$20MExpenses 2010: $40,222,5692010Revenue 2011: $43,821,534Expenses 2011: $43,002,493Net Income 2011: $819,0412011Expenses 2012: $45,512,2862012Revenue 2013: $47,278,572Expenses 2013: $50,586,898Net Income 2013: -$3,308,3262013Revenue 2014: $50,114,752Expenses 2014: $47,593,913Net Income 2014: $2,520,8392014Revenue 2015: $46,767,857Expenses 2015: $46,738,774Net Income 2015: $29,0832015Revenue 2016: $48,128,486Expenses 2016: $46,805,226Net Income 2016: $1,323,2602016Revenue 2017: $49,358,318Expenses 2017: $46,420,050Net Income 2017: $2,938,2682017Revenue 2018: $49,297,789Expenses 2018: $48,841,188Net Income 2018: $456,6012018Revenue 2019: $48,942,139Expenses 2019: $49,168,588Net Income 2019: -$226,4492019Revenue 2020: $49,860,247Expenses 2020: $49,172,171Net Income 2020: $688,0762020Revenue 2021: $54,050,053Expenses 2021: $49,146,258Net Income 2021: $4,903,7952021Revenue 2022: $54,130,609Expenses 2022: $52,422,862Net Income 2022: $1,707,7472022Revenue 2023: $57,736,951Expenses 2023: $57,812,180Net Income 2023: -$75,2292023Revenue 2024: $60,516,205Expenses 2024: $59,869,501Net Income 2024: $646,7042024

Highlighted filing

2024

Revenue$60,516,205
Expenses$59,869,501
Net Income$646,704

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.2$16.1$61.1$60.5$59.9$0.65
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.2$16.4$56.8$57.7$57.8$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$67.7$12.2$55.5$54.1$52.4$1.71
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$69.5$8.21$61.3$54.1$49.1$4.90
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$57.2$7.28$49.9$49.9$49.2$0.69
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.4$7.85$48.6$48.9$49.2$0.23
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.2$8.07$48.1$49.3$48.8$0.46
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.5$7.44$47.1$49.4$46.4$2.94
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.6$7.42$43.2$48.1$46.8$1.32
2015Detailed filing. Detailed filing data is available for this year.$51.2$8.85$42.3$46.8$46.7$0.03
2014Detailed filing. Detailed filing data is available for this year.$53.5$9.82$43.7$50.1$47.6$2.52
2013Summary only. Only limited summary data is available for this year.$48.6$9.34$39.3$47.3$50.6$3.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.2$8.93$41.3$45.5
2011Summary only. Only limited summary data is available for this year.$52.8$10.5$42.3$43.8$43.0$0.82
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.2$9.75$39.4$40.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$74,119,658
Mission and Program Overview

Mission

The mission of matheny school and hospital is to optimize the quality of life for individuals with developmental disabilities and significant functional impairments.

Provide comprehensive services to individuals with developmental disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$40,837,535$44,379,177▲ $3,541,642
Accounts Receivable$18,793,430$17,269,408▼ $1,524,022
Land, Buildings, and Equipment, Net$10,501,923$10,542,646▲ $40,723
Savings and Temporary Cash Investments$1,980,818$3,884,123▲ $1,903,305
Prepaid Expenses and Deferred Charges$149,920$235,245▲ $85,325
Inventories for Sale or Use$14,690$14,690→ $0
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Total Assets$73,240,778$77,232,668▲ $3,991,890
Other Assets Total$962,362$907,279▼ $55,083
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,408,877$8,258,877▲ $850,000
Accounts Payable and Accrued Expenses$7,904,808$7,048,356▼ $856,452
Other Liabilities$897,524$826,201▼ $71,323
Tax Exempt Bond Liabilities$200,000$0▼ $200,000
Total Liabilities$16,411,209$16,133,434▼ $277,775
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$56,172,484$60,245,865▲ $4,073,381
Net Assets With Donor Restrictions$657,085$853,369▲ $196,284
Total Net Assets Fund Balance$56,829,569$61,099,234▲ $4,269,665
Total Liabilities and Net Assets / Fund Balance$73,240,778$77,232,668▲ $3,991,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,898,418$23,607,209$29,505,627
Equipment$2,556,202$8,977,182$11,533,384
Other Land Buildings$1,811,784$830,692$2,642,476
Land$270,094-$270,094
Leasehold Improvements$6,148$202,959$209,107

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$41,902,080-▲ $4,048,604-$45,950,684
2022$37,730,151-▲ $4,171,929-$41,902,080
2021$44,169,923-▼ $6,439,772-$37,730,151
2020$35,621,985-▲ $8,547,938-$44,169,923
2019$34,482,655-▲ $1,139,330-$35,621,985
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William M Kent MhaPresident & CEOFT$520,351$57,476$577,827
Vincent Barba Md Facp FhmVP Patient Care and Safety/CMOFT$364,955$46,890$411,845
Dr Christine MandPhysicianFT$300,513$42,366$342,879
Dr Surbparkash SinghPhysicianFT$242,417$36,434$278,851
Nancy PetrilloVP of Human ResourcesFT$229,640$34,323$263,963
Dr Susan RoeloffsPhysicianFT$214,255$46,325$260,580
Kenneth Robey Phd CphqAdmin Mgr of Qi Ps and Reg AffFT$183,737$31,779$215,516
Michael HewsonVP Finance/CFOFT$161,831$23,363$185,194
Cynthia LabarDirector Therapeutic and Rehab SrvsFT$160,557$14,706$175,263
Sean MurphyVP of EducationFT$128,380$19,254$147,634
Elizabeth HarperBoard SecretaryFT$77,070$2,129$79,199

Board Members and Trustees

NameTitle
William a Krais EsqChairperson
Paul FrascellaCo-chairperson
Nancy Hamstra FacheVice Chair/board Secretary
Alan E Turovlin CPA CgmaTrustee
Carl KirtonTrustee
Carla M Jardim MdTrustee
David SchulzTrustee
David SzottTrustee
Edana DesatnickTrustee
Kristen Labazzo Phd MbaTrustee
Peter HollowayTrustee
Ruth K BashTrustee
Warren JosephsonTrustee
Patrick ScaglioneTrustee (until 9/23)
R Bruce FisherTrustee (until 9/23)
Albert Mezzaroba EsqTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Reinhart Food ServiceFood Service100 INDUSTRIAL PARK RD, Coal Township, PA 17866$291,788
Partners PharmacyPharmacy ManagementLOCKBOX 825583, Mt Laurel, NJ 08054$168,477
Presidio Networked Solutions Group LLCIt ServicesPO BOX 677638, Dallas, TX 75267$160,002
Baker Tilly US LLCAuditing And Tax ServicesBOX 78975, Milwaukee, WI 53278$151,290
Unitemp Mechanical Degrees LLCContractor26 WORLDS FAIR DRIVE, Somerset, NJ 08873$147,285
Revenue and Support

Revenue Composition

Contributions and Grants
$1,063,563
Program Service Revenue
$57,542,126
Investment Income
$1,519,579
Other Revenue
$390,937
All Other Contributions
$597,990
Change in Net Assets
$646,704

Audited Revenue Reconciliation

Revenue per Audited Statements
$60,560,378
Revenue Not Reported on Financial Statements
$-44,173
Revenue Not Reported on Form 990
$3,315,371
Other Revenue Adjustments
$-44,173
Total Revenue per Audited Statements
$63,875,749
Total Revenue per Form 990
$60,516,205
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$48,283,480
Other Expenses$11,586,021
Total Fundraising Expense$537,425
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$36,125,420$2,546,059$344,237$39,015,716
Other Employee Benefits$3,967,399$296,194$37,604$4,301,197
Payroll Taxes$2,621,694$218,695$22,266$2,862,655
Fees for Services Other$1,778,457$558,367$116,114$2,452,938
Current Officers, Directors, Trustees, and Key Employees$670,237$1,113,568-$1,783,805
Insurance-$1,254,983-$1,254,983
Depreciation Depletion$1,108,945--$1,108,945
Occupancy$850,209--$850,209
Interest$582,677--$582,677
Office Expenses$11,670$392,955$9,983$414,608
Pension Plan Contributions$283,914$32,985$3,208$320,107
Other Expenses$314,688$37,073$2,619$314,688
Fees for Service Investment Mgmnt Fees-$307,590-$307,590
All Other Expenses$249,623$25,310$1,269$276,202
Fees for Services Accounting-$131,400-$131,400
Fees for Services Legal-$63,246-$63,246
Advertising-$50,966-$50,966
Conferences and Meetings$13,749$1,283$125$15,157
Fees for Services Management-$15,000-$15,000
Total Functional Expenses$52,286,402$7,045,674$537,425$59,869,501

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$59,869,501
Total Expenses per Audited Statements$59,606,084
Expenses per Audited Statements$59,561,911
Expenses Not Reported on Financial Statements$307,590
Other Expense Adjustments$307,590
Expenses Not Reported on Form 990$44,173
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$44,173
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Miles for Matheny$224,483-$44,173-
Total Events$224,483-$44,173$-44,173
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Obligations$610,022
Sundry Liabilities$216,179
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Board member edana desatnick is the sister-in-law of board member albert mezzaroba.

Form 990, Part VI, Section B, Line 11B

The finance committee and board members review the tax return prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

A conflict of interest disclosure statement is completed annually by all matheny board of trustees, officers, and key employees as well as any identified staff. The corporate compliance officer is responsible for monitoring this process. A committee consisting of the vp's of finance, hr, operations, patient care, safety and the compliance officer reviews and addresses any potential conflicts of interest identified. The committee shall make a recommendation to the president or his/her designee regarding appropriate steps to be taken to eliminate the potential effect of the conflict of interest on independence of judgment or patient safety and quality of patient care. The president or his/her designee shall evaluate the committee's recommendation and shall direct the steps necessary. The committee keeps written minutes of their meetings which include identified conflicts, the nature of the conflict, the content of the discussion, and the necessary actions to be taken.

Form 990, Part VI, Section B, Line 15

Matheny medical and educational center has an established compensation committee. The compensation committee shall consist of such numbers of independent members of the board of trustees as may be recommended by the chairperson and appointed by a majority of the entire board of trustees. The compensation committee shall be responsible for oversight of management compensation. Compensation for the president shall be determined by the board of trustees, upon recommendation of the compensation committee. Compensation for other senior management shall be determined by the president, which determinations shall be reviewed and approved by the compensation committee. The compensation committee shall meet at least semiannually. The chair of the compensation committee shall be responsible for ensuring that the committee utilizes the appropriate processes in all compensation evaluations, recommendations and other actions. Matheny medical and educational center also participates in an annual wage and salary survey which is used to benchmark all positions to maintain appropriate salary guidelines. This process is contemporaneously documented in the board minutes.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Matheny School and Hospital Inc
EIN
22-1482276
Phone
9082340011
Address
65 HIGHLAND AVENUE PO BOX 339, PEAPACK, NJ 07977
Doing Business As
Matheny Medical & Educational Center

Signing Officer

Name
Michael Hewson
Title
VP Finance/CFO
Phone
9082340011
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Kent
Formed
1950
Legal Domicile
Nj
Voting Board Members
16
Independent Board Members
14
Employees
737
Volunteers
15

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
1570 FRUITVILLE PIKE SUITE 400, LANCASTER, PA 17601
Preparer
Kerri N Bogda CPA
Phone
7177404863
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

The endowment funds are designated to support the sustainability of matheny.

PART X, LINE 2:

The center accounts for uncertainty in income taxes using a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Management determined that there were no tax uncertainties that met the recognized threshold in 2024 and 2023.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Investment expenses netted against revenue on f/s -307,590.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses -44,173.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses 44,173.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Investment expenses netted against revenue on f/s 307,590.

Raw XML AppendixShowing 400 of 1,011 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0PROFESSIONAL CARE AND NURSING - PRIMARY, SUBSPECIALTY AND REHABILITATIVE CARE TO PATIENTS WITH CHRONIC NEUROLOGICAL DISABLING CONDITIONS OF ALL AGES. PROVIDE SUPPORT FOR NURSING AND ALL CLINICAL, THERAPEUTIC AND EDUCATIONAL DISCIPLINES. PROVIDE THE SCHOOL HEALTH FUNCTIONS FOR THE MATHENY SCHOOL. STAFF THE INPATIENT AND OUTPATIENT UNITS OF MATHENY MEDICAL AND EDUCATIONAL CENTER. PROVIDE EACH PATIENT WITH THE HIGHEST LEVEL OF PROFESSIONAL NURSING AND PARAPROFESSIONAL PERSONAL CARE. BE AN INTEGRATED TEAM WHICH PROVIDES COMPREHENSIVE, TRANSDISCIPLINARY SERVICES TO INDIVIDUALS WITH DISABILITIES OF A DEVELOPMENTAL NATURE. CONTINUED ON SCHEDULE O.MAINTAIN WELLNESS BY CREATING AN ATMOSPHERE WHICH IS HARMONIOUS AND PROMOTES INDIVIDUAL GROWTH AND DEVELOPMENT. TO PROVIDE RELATED SERVICES TO THE MATHENY COMMUNITY, INCLUDING INFECTION CONTROL, ENTERSTOMAL THERAPY, EMPLOYEE HEALTH SERVICES, RESPIRATORY THERAPY AND PHLEBOTOMY SERVICES. ALSO CONSULT WITH THE ADULT LEARNING CENTER AT HILLSBORO (MALCH) AND THE CENTER OF MEDICINE AND DENTISTRY (MCMD).
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