Hackensack Meridian Health Inc

“The Executive Committee has delegated authority to transact the regular business of the Corporation and to implement the policy decisions of the Board during the interim between the meetings of the Board; provided, however, that such delegation of authority conforms with the subsequent approval requirements noted in the bylaws and that no act taken by the Executive Committee conflicts with the acts of the Board, the limitations imposed by the Board in the Bylaws or with the powers reserved to the Board, as specified in the Bylaws. The voting members of the Executive Committee shall consist of the Officers of the Corporation and no more than five (5) At-Large Trustees, with the Chairperson of the Board of HMH Hospitals Corporation serving ex-officio, without vote.”

“During the tax year the bylaws were updated to add two jfk trustees to the board. Under the authority of the board of trustees, the following organization was added as supported organizations in 2024: hackensack meridian ltach, llc (ein: 38-4209318)”

“Hackensack meridian health, inc. ("hmh") is the parent organization of a tax-exempt integrated healthcare delivery network. Hmh's finance personnel prepared the federal form 990. Hmh retained a firm of independent certified public accountants with experience and expertise in healthcare and not-for-profit tax return preparation to review and file the form 990. Hmh's board of trustees designated the audit and compliance committee ("acc") to review the form 990. The form 990 was provided to the members of the acc for review. The form 990 was also provided to each voting member of hmh's governing body, its board of trustees, prior to filing with the internal revenue service.”

“The organization, hackensack meridian health, inc., is the tax-exempt parent of a tax-exempt integrated healthcare delivery network ("network"). Hackensack meridian health, inc. Has adopted a network-wide conflict of interest policy which is applicable to all of its subsidiary organizations. The organizations regularly monitor and enforce compliance with the network's conflict of interest policy. Annually, all members of the board of trustees, officers and key employees of each organization are required to review the existing conflict of interest policy and complete a questionnaire with respect to any applicable transactions and relationships. The completed questionnaires are returned to the network's chief compliance officer for review. The chief compliance officer then prepares a summary of the completed questionnaires and presents the summary to the network's governance and board development committee for its review, discussion and action (if needed). Any trustee, officer or key employee with a disclosed conflict would recuse themselves from participating in the governing body's deliberations and decisions of a transaction in question. During the year, the chief compliance officer, in conjunction with the chief legal officers, also monitors on-going transactions in light of the summary to ensure that any potential conflicts of interest are appropriately handled in compliance with the policy.”

“This organization is the tax-exempt parent of a tax-exempt integrated healthcare delivery network ("network"). The executive and physician compensation committee ("committee") of this organization is responsible for reviewing the executive compensation of the chief executive officer and specified key employees (senior management) of this network. The committee has adopted a written executive compensation philosophy, which it follows when it reviews and approves compensation and benefits. The executive compensation philosophy recognizes the size and complexity of the health care network and the critical need to have and retain executives that consistently demonstrate superior levels of performance so that the health network can fulfill its charitable mission and strategic objectives. The committee reviews the "total compensation", including both current and deferred compensation and all employee benefits, both qualified and non-qualified, on at least an annual basis to ensure that the "total compensation" of the chief executive officer(s), other officers and each senior management key employee is reasonable. To assist with the review, the committee engages the services of a nationally recognized independent consulting firm specializing in executive compensation for not-for-profit health care organizations, and receives national and regional market data for comparable organizations, a report summarizing such data, and an opinion letter relating to the reasonableness of each executive's total compensation and benefits. Additionally, a senior member of the consulting firm attends the committee's meetings to provide information and to respond to questions by the members of the committee. The independent committee utilizes the outside market data comparability and, based upon the executive compensation philosophy, the organization's performance, business judgment considerations, and the individual's performance, reviews and approves compensation for each individual. Guided at each meeting by outside counsel to the committee, the comprehensive review process utilized by the committee is intentionally structured to qualify for the rebuttable presumption under section 4958 of the internal revenue code of 1986: 1. The compensation arrangement is approved in advance by the committee, which is an "authorized body" of the organization composed entirely of individuals who do not have a conflict of interest within the meaning of the irs regulations under section 4958; 2. The committee obtains and relies upon "appropriate data as to comparability" (for comparable positions at similar healthcare organizations) prior to making its determination, which comparability data is provided and analyzed by the committee's independent consulting firm with expertise in the area of not-for-profit health care executive compensation; and 3. The committee thoroughly documents its review and approval process, as well as the basis for its approvals, concurrently with making that determination, again as described in the irs regulations. As appropriate, the committee supplements the comparability data with other objective factors designed to ensure the reasonableness of the compensation paid, including an analysis of individual goals and objectives, organizational performance, personnel reviews, evaluations, self-evaluations, and any written offers from competing organizations. The compensation arrangements approved by the committee are reported in executive session to the full board by the chair and vice chair of the committee.”

“Refer to the above narrative on Part VI, Line 15a.”

“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. In addition, the organization makes available to the public via its website, www.hackensackmeridianhealth.org, its code of conduct and conflict of interest policy. Financial statements are available publicly at https://www.hackensackmeridianhealth.org/en/about-us/financial-statements”

“Part vii and schedule j reflect officers and board members receiving compensation and benefits from a related tax-exempt organization. Please note this remuneration was for services rendered as full-time employees of the related organization and not for services rendered as an officer or voting member of this organization's board of trustees.”

“Officers, Board Members and Key Employees reflected in Part VII and Schedule J receive compensation and benefits from related tax-exempt organizations. Please note this remuneration was for services rendered as full-time employees of the related organizations and not for services rendered as an officer or voting board member of this organization's board of trustees.”

“COORDINATION FEES - Total Expense: 15456080, Program Service Expense: 15456080, Management and General Expenses: , Fundraising Expenses: ; CONSULTING - Total Expense: 2163818, Program Service Expense: 2163818, Management and General Expenses: , Fundraising Expenses: ; - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ;”

“In accordance with the organization's audited financial statements, the tax-exempt bond values were reported on the books of hackensack meridian health, inc., the parent organization of this tax-exempt integrated healthcare delivery network. As such, the tax-exempt bonds are reported on schedule k of this form 990.”

“NET TRANSFER TO AFFILIATES - XXX-XX-XXXX; HMH PROGRAM SERVICE REVENUE RECLASS - 51698665; UNREALIZED PENSION ASSETS - 20489600; Total - XXX-XX-XXXX;”