Civic Intelligence

Princeton Healthcare Affiliated

EIN 26-4203938 • 501(c)3 • Plainsboro, NJ

Profile

The organization provides medically necessary healthcare services in furtherance of the charitable purposes of princeton healthcare system, a new jersey nonprofit corporation; a related internal revenue code section 501(c)(3) tax-exempt hospital which provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin, religion or ability to pay. Please refer to the organization's community benefit statement included in schedule o.

One Plainsboro RoadPlainsboro, NJ 08536

www.princetonhcs.org

Siviq Scores

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

Liabilities / Assets

100th percentile

5422.13x

Higher debt load relative to assets than 100% of similar nonprofits.

NTEE E • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

84th percentile

1.47x

Higher debt load relative to revenue than 84% of similar nonprofits.

NTEE E • $25M-$50M nonprofits • Source year 2024

Net Margin

39th percentile

-0.0%

Higher net margin than 39% of similar nonprofits.

NTEE E • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

63rd percentile

$862,202

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

NTEE E • $25M-$50M nonprofits • Source year 2024

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

NTEE E • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

4th percentile

-45%

Faster revenue growth than 4% of similar nonprofits.

NTEE E • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$7,279

Down $4,371,122 (-100%) from 2022

Liabilities

Up

$39,467,694

Up $12,265,561 (+45%) from 2022

Net Assets

Down

-$39,460,415

Down $16,636,683 (-73%) from 2022

Revenue

Down

$26,913,448

Down $17,919,748 (-40%) from 2022

Expenses

Down

$26,915,902

Down $32,789,715 (-55%) from 2022

Net Income

Up

-$2,454

Up $14,869,967 (+100%) from 2022

Trend Graphs

Balance Sheet Trend

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

$40M$20M$0-$20M-$40MAssets 2013: $2,104,993Liabilities 2013: $2,127,022Net Assets 2013: -$22,0292013Assets 2015: $3,495,645Liabilities 2015: $4,647,371Net Assets 2015: -$1,151,7262015Assets 2017: $4,695,312Liabilities 2017: $6,491,266Net Assets 2017: -$1,795,9542017Assets 2019: $21,992,427Liabilities 2019: $5,992,539Net Assets 2019: $15,999,8882019Assets 2020: $6,702,715Liabilities 2020: $4,659,428Net Assets 2020: $2,043,2872020Assets 2021: $4,748,844Liabilities 2021: $12,700,155Net Assets 2021: -$7,951,3112021Assets 2022: $4,378,401Liabilities 2022: $27,202,133Net Assets 2022: -$22,823,7322022Assets 2024: $7,279Liabilities 2024: $39,467,694Net Assets 2024: -$39,460,4152024

Highlighted filing

2024

Assets$7,279
Liabilities$39,467,694
Net Assets-$39,460,415

Operations Trend

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

$100M$50M$0-$50MRevenue 2013: $24,608,313Expenses 2013: $29,207,742Net Income 2013: -$4,599,4292013Revenue 2015: $29,354,332Expenses 2015: $36,579,033Net Income 2015: -$7,224,7012015Revenue 2017: $51,778,944Expenses 2017: $61,340,578Net Income 2017: -$9,561,6342017Revenue 2019: $54,026,693Expenses 2019: $64,464,405Net Income 2019: -$10,437,7122019Revenue 2020: $51,384,230Expenses 2020: $65,340,831Net Income 2020: -$13,956,6012020Revenue 2021: $53,586,457Expenses 2021: $63,663,957Net Income 2021: -$10,077,5002021Revenue 2022: $44,833,196Expenses 2022: $59,705,617Net Income 2022: -$14,872,4212022Revenue 2024: $26,913,448Expenses 2024: $26,915,902Net Income 2024: -$2,4542024

Highlighted filing

2024

Revenue$26,913,448
Expenses$26,915,902
Net Income-$2,454

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$26,913,448
Mission and Program Overview

Mission

The organization provides physician services in furtherance of the charitable purposes of princeton healthcare system, a related internal revenue code section 501(c)(3) tax-exempt hospital which provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay.

The organization provides physician services in furtherance of the charitable purposes of princeton healthcare system, a related irc section 501(c)(3) tax-exempt hospital

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,246,010$0▼ $2,246,010
Inventories for Sale or Use$595,453$0▼ $595,453
Land, Buildings, and Equipment, Net$287,453$0▼ $287,453
Savings and Temporary Cash Investments$255,916$0▼ $255,916
Prepaid Expenses and Deferred Charges$81,310$0▼ $81,310
Cash and Non-Interest-Bearing Accounts$636$7,279▲ $6,643
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Other Assets Total$53,683$0▼ $53,683
Total Assets$3,520,461$7,279▼ $3,513,182
Liabilities
Other Liabilities$39,275,670$39,467,391▲ $191,721
Accounts Payable and Accrued Expenses$3,702,752$303▼ $3,702,449
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$42,978,422$39,467,694▼ $3,510,728
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-39,457,961$-39,460,415▼ $2,454
Total Net Assets Fund Balance$-39,457,961$-39,460,415▼ $2,454
Total Liabilities and Net Assets / Fund Balance$3,520,461$7,279▼ $3,513,182
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John Heim MdPhysicianFT$702,780$159,422$862,202
Bushra F MirzaPhysicianFT$286,199$450,514$736,713
Anish a Sheth MdPhysicianFT$632,082$1,209$633,291
Lisa Motavelli MdPhysicianFT$436,504$186,112$622,616
Khare MadhuraniPhysicianFT$258,650$357,018$615,668

Board Members and Trustees

NameTitle
Kathryn RobisonPresident, Phap
Guilherme Valladares MbaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$26,913,448
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-2,454
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,165,206
Other Expenses$5,750,696
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,732,051$1,748,006$0$17,480,057
Fees for Services Other$3,102,308$900,150$0$4,002,458
Other Employee Benefits$2,446,596$271,844$0$2,718,440
Payroll Taxes$870,038$96,671$0$966,709
Occupancy$606,802$67,422$0$674,224
All Other Expenses$293,946$32,659-$326,605
Insurance$190,501$21,167$0$211,668
Travel$67,790$7,532$0$75,322
Office Expenses$13,506$1,501$0$15,007
Depreciation Depletion$4,595$511$0$5,106
Other Expenses$4,261$473$0$4,734
Information Technology$3,653$406$0$4,059
Total Functional Expenses$23,759,088$3,156,814$0$26,915,902
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interco Due To/(from) Affiliates$39,404,250
Other Liabilites$63,141
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Lines 6 & 7

Detail of members the university is the sole member of holding. Holding is the sole member of this organization which exists through a physician nominee agreement due to state of new jersey corporate practice of medicine prohibition rules and regulations. ----------

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

Form 990 review process information related to this organization's form 990 filing is gathered by finance staff and provided to pwc us tax llp for review and return preparation. A draft copy of the june 30, 2024 form 990 was reviewed by various senior financial management officials before it was submitted to the board for their review. A copy of the final june 30, 2024 form 990 was then made available to each board member prior to the filing deadline. ----------

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

Conflict of interest policy this organization is an affiliate of the trustees of the university of pennsylvania ("university"). Each covered person* annually shall complete a conflict of interest questionnaire provided by the university and shall update such questionnaire promptly as necessary to reflect changes during the course of the year. Former board members who are not trustee emeriti are encouraged but not required to complete the questionnaire during the five year period following completion of their terms. Completed questionnaires shall be returned to the office of the secretary and shall be subject to review by such office and the office of the general counsel, as well as by any outside legal counsel and/or auditors who may be appointed to advise the compensation committee of the board of trustees appointed to oversee this policy. Completed questionnaires also shall be available for inspection by any board member. *covered persons include: (1) voting members of the board of trustees (including charter trustees, term trustees, alumni trustees, and commonwealth trustees); (2) trustee emeriti who have served in that capacity for five years or less; (3) other former voting trustees for a period of five years from the end of their term as such; (4) officers as defined in the statutes; and (5) members of the investment board. Each covered person (except former board members who are not trustee emeriti) shall be required to acknowledge, not less than annually, that he or she has read and is in compliance with this policy. ----------

Form 990, Part VI, Section B, Line 15

Compensation process this organization is an affiliate of the trustees of the university of pennsylvania ("university"). Compensation arrangements involving any of our officers and/or key employees are established by the university pursuant to a process that satisfies the rebuttable presumption procedure available for section 4958 excess benefit transaction tax purposes (which requires a review of compensation determinations by disinterested persons, use of appropriate comparability data, and contemporaneous documentation of the process). ----------

Form 990, Part VI, Section C, Line 19

Documents availability to public the organization's form 990, governing documents, audited financial statements, and conflict of interest policy are available to the public upon request. The organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey department of treasury. ----------

Filing and Contact Details

Filer

Filer Name
Princeton Healthcare Affiliated
EIN
26-4203938
In Care Of
% GUILHERME VALLADARES MBA
Phone
6098537107
Address
ONE PLAINSBORO ROAD, PLAINSBORO, NJ 08536

Signing Officer

Name
Guilherme Valladares
Title
Sr VP & CFO
Phone
6098537107
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Guilherme Valladares
Formed
2009
Legal Domicile
Nj
Voting Board Members
1
Independent Board Members
0
Employees
434
Volunteers
0

Preparer

Firm
PwC US Tax LLP
Address
2001 MARKET ST SUITE 1800, PHILADELPHIA, PA 19103
Preparer
Antonio C Russo Director
Phone
2673303000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

Statement of program service accomplishments penn medicine princeton medicine physicians is a network of board certified physicians who are dedicated to excellence in primary and specialty medical care. Patients of princeton medicine physicians benefit from the organization being part of penn medicine - a nationally recognized academic medical center with medical, behavioral health, and surgical care capabilities. The highly-trained physicians in the princeton medicine physicians network are experts in their fields and are skilled in the non-surgical and surgical treatment of acute and chronic health conditions, as well as preventive healthcare, including routine exams and health screenings. Princeton medicine physicians practices include specialties such as: bariatric and metabolic surgery; behavioral health; cardiology; digestive health; epilepsy; family medicine; gastroenterology; geriatric medicine; gynecologic oncology; gynecologic surgery; hematology/oncology; hospitalists; internal medicine; obstetrics and gynecology; plastic surgery; pulmonary medicine; sleep medicine; and thoracic surgery. Across the practice locations, medicare and most major insurance plans are accepted, including new plans offered through the health insurance marketplace. Patients can make appointments with princeton medicine physicians practices by calling a dedicated scheduling telephone number and by visiting princetonhcs.org and clicking a link to zocdoc, a third party scheduling system. Patients of princeton medicine physicians are seen in person and also have access to penn connected health virtual visit. A virtual visit allows patients and their princeton medicine physicians provider to connect remotely through a secure video app, or via telephone when necessary, from the comfort of their home or office. The princeton health community wellness department supports princeton medicine physicians patients through a series of free community lectures hosted by princeton medicine physicians on a variety of topics, such as: - weight loss surgery, is it right for me?: severe obesity is a serious health condition that can impact every aspect of your life. If traditional weight-loss methods have failed, surgery may be an option. The lecture includes an overview of traditional and minimally invasive surgical weight loss options, including laparoscopic gastric bypass surgery, sleeve gastrectomy and laparoscopic stomach banding, to help you make the choice that's right for you. - what you need to know about high blood pressure: hypertension, or high blood pressure, puts you at risk for many other health conditions, including heart attack, stroke, and kidney disease. Join us to learn what you can do to manage your blood pressure, and the importance of taking control of your health. - eat better, sleep better: they say you are what you eat, but did you also know there are foods that are best if you want proper rest? This informative session will teach you which foods keep you up at night and which ones help you sleep better. ----------

Form 990, Part V, Line 1A

Forms 1099 this organization is an affiliate of the trustees of the university of pennsylvania ("trustees"). The forms 1099 distributed as part of this entity's activities are done so through the university health system and consolidated with trustees. -----------------------------

Form 990 Part IX Line 11G

Description:temporary & outsourced employ total fees:2161782

Form 990 Part IX Line 11G

Description:overhead allocation total fees:793194

Form 990 Part IX Line 11G

Description:professional fees - medical total fees:761044

Form 990 Part IX Line 11G

Description:fees - professional services total fees:38660

Form 990 Part IX Line 11G

Description:billing expense total fees:2454

Form 990 Part IX Line 11G

Description:other fees total fees:245324

Financial Statement Notes

Schedule D, Part X, Line 1

Detail of other liabilities the interco due to/(from) affiliates account represents amounts due to/(owed to) this organization by the trustees of the university of pennsylvania ("penn"), a related organization, based upon penn's central treasury office managing the cash balances of certain of its affiliates. ------------

Schedule D, Part X, Line 2

Text of fin 48 (asc 740) footnote this organization is an affiliate of the trustees of the university of pennsylvania ("university"). The fin 48 (asc 740) footnote below derives from the consolidated june 30, 2024 financial statements of the university: the university regularly evaluates its tax position and does not believe it has any uncertain tax positions that require disclosure or adjustment to the consolidated financial statements.

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