Overview
What is Palisades Medical Associates Llc?
Palisades Medical Associates Llc is a New Jersey-based corporation dedicated to providing medically necessary healthcare services directly to patients. They employ physicians who offer their expertise to Hackensack Meridian Health, a tax-exempt integrated healthcare delivery network. In addition to serving patients, Palisades Medical Associates contributes administrative, supervisory, teaching, coverage, and research services to HMH Hospitals Corporation. This collaboration advances their common charitable mission: to provide medical services to individuals in a nondiscriminatory manner, regardless of race, color, creed, sex, national origin, religion, or ability to pay. The organization, with a team of 34 employees, operates exclusively for this noble purpose.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Palisades Medical Associates LLC has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. This score is particularly noteworthy as it is derived entirely from the Accountability & Finance beacon, indicating a strong commitment to financial transparency and responsible management of its resources.
The nonprofit demonstrates exemplary practices, achieving full points in several key areas such as financial statements oversight, material diversion of assets, and various policy implementations, including conflict of interest and whistleblower policies. Its low liabilities to assets ratio showcases financial stability, while a high program expense ratio indicates that a significant portion of its funding is directed towards its programs and mission.
Despite these strengths, the overall rating suggests there may be areas for improvement. However, specific limitations are not detailed in the data provided, leaving room for potential growth in other aspects of its operations that could enhance its rating further in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Palisades Medical Associates Llc legitimate?
Palisades Medical Associates Llc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palisades Medical Associates Llc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,050,946
For more financial information, click here
What is the mission statement of Palisades Medical Associates Llc?
Palisades Medical Associates Llc is solely dedicated to supporting and advancing the charitable cause of providing medical services to patients under HMH Hospitals Corporation. Through their team of employed physicians, they directly deliver medically necessary healthcare services to individuals. Beyond clinical care, they also offer administrative, supervisory, teaching, coverage, and research services to HMH Hospitals Corporation. These efforts are in alignment with the organization's primary tax-exempt purpose of offering healthcare services to all, regardless of factors such as race, color, creed, sex, national origin, religion, or ability to pay. Palisades Medical Associates Llc is an essential part of Hackensack Meridian Health, a tax-exempt integrated healthcare delivery network.
Who is the CEO of Palisades Medical Associates Llc?
Anthony J Passannante Jr Md is the President - Trustee of Palisades Medical Associates Llc.
What is the revenue of Palisades Medical Associates Llc?
Palisades Medical Associates Llc's revenue in 2022 was $20,140,744.
Who are the executives of Palisades Medical Associates Llc and what are their salaries?
The average compensation at Palisades Medical Associates Llc during 2022 was $325,028. There are 34 employees at Palisades Medical Associates Llc.
Here are 6 key members and their salaries:
- Compensation: $1,393,553
- Related: $0
- Other: $42,647
- Compensation: $929,290
- Related: $0
- Other: $41,501
- Compensation: $0
- Related: $908,077
- Other: $35,068
- Compensation: $684,928
- Related: $15,000
- Other: $51,275
- Compensation: $530,928
- Related: $0
- Other: $50,984
- Compensation: $452,307
- Related: $0
- Other: $14,441
Where can I find the form 990 for Palisades Medical Associates Llc?
Palisades Medical Associates Llc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Palisades Medical Associates Llc
Palisades Medical Associates Llc is a charitable organization dedicated to supporting and advancing the noble cause of providing medical services to patients under HMH Hospitals Corporation. In line with its mission, the company deploys physicians to directly cater to the healthcare needs of individuals in a non-discriminatory manner. This includes rendering essential medical services to patients and offering administrative, supervisory, teaching, coverage, and research support to HMH Hospitals Corporation.
Palisades Medical Associates Llc is a crucial element of Hackensack Meridian Health, a tax-exempt integrated healthcare delivery network. The organization's unwavering commitment to its charitable purpose is reflected in its provision of medical care to all, irrespective of race, color, creed, sex, national origin, religion, or ability to pay. The company's team of physicians and support staff are integrated into the healthcare system, working together to ensure comprehensive healthcare services for everyone.
By offering medical expertise and resources to HMH Hospitals Corporation, Palisades Medical Associates Llc plays a vital role in furthering the network's mission to deliver top-notch healthcare services to the community. The organization's physicians provide on-the-ground care, while the administrative and research services they offer contribute to the overall improvement of healthcare delivery. In summary, Palisades Medical Associates Llc is an indispensable component of Hackensack Meridian Health, dedicated to enhancing the organization's capacity to provide essential medical services to all patients.
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Impact
October, 2024
Palisades Medical Associates LLC has a significant impact on healthcare access and delivery in the community. By providing medically necessary healthcare services through its employed physicians, the organization ensures that patients receive high-quality care tailored to their needs.
The company supports Hackensack Meridian Health Hospitals Corporation by offering essential administrative, supervisory, teaching, coverage, and research services. This collaborative approach enhances the overall healthcare environment, allowing for better patient outcomes and streamlined hospital operations.
A key aspect of Palisades Medical Associates is its commitment to serving all individuals without discrimination, addressing healthcare disparities related to race, color, creed, sex, national origin, religion, or ability to pay. This inclusive philosophy promotes health equity, ensuring that everyone in the community can access vital medical services.
With its strategic role within an integrated healthcare delivery network, Palisades Medical Associates is essential in advancing the mission to provide comprehensive, quality healthcare to all, ultimately contributing to the well-being of the population it serves in Edison, NJ, and beyond.
This information is meant to be a general summary of Palisades Medical Associates Llc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$15,450
- Program Service Revenue: $12,122,160
- Gross Receipts: $20,157,991
Assets and Liabilities:
- Total Assets: $40,366,215
- Total Liabilities: $2,889,181
- Net Assets: $37,477,034
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET PATIENT SERVICE REVENUE
Revenue
$12,059,464
OTHER HEALTH CARE RELATED REVENUE
Revenue
$62,696
Organization Details
Founding Year
2001
Phone
(908) 839-6787Principal Officer
Anthony J Passannante Jr Md
Main Address
C/O TAX DEPT 399 THORNALL STREET 2N, EDISON, NJ, 08837
NTEE Category
Code: E31 - Health
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