2024-11-04T16:34:28-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2023-01-01 221487307 THE VALLEY HOSPITAL INC VALL 2014478000 223 NORTH VAN DIEN AVENUE RIDGEWOOD NJ 07450 WILLIAM KLUTKOWSKI SENIOR VP OF FINANCE & CFO 2014478000 2024-11-04 1 0 EDWARD G O'CONNOR P00434443 2017129800 2024-10-31 2023 2024-10-15 13:58:12Z AUDREY MEYERS 223 NORTH VAN DIEN AVENUE RIDGEWOOD NJ 07450 1908737378 0 X WWW.VALLEYHEALTH.COM X 1925 NJ THE VALLEY HOSPITAL SERVES THE COMMUNITY BY HEALING AND CARING FOR PATIENTS, COMFORTING THEIR FAMILIES AND TEACHING GOOD HEALTH. 19 18 4635 900 11049880 0 37470370 54733663 982682908 1055445485 16868807 9641569 22724416 33252229 1059746501 1153072946 96877491 127498284 0 0 370759601 400103419 0 0 0 470665655 507751391 938302747 1035353094 121443754 117719852 2192208083 2368786881 720677990 711098872 1471530093 1657688009 X THE VALLEY HOSPITAL SERVES THE COMMUNITY BY HEALING AND CARING FOR PATIENTS, COMFORTING THEIR FAMILIES AND TEACHING GOOD HEALTH. THE VALLEY HOSPITAL IS DISTINGUISHED BY A COMMITMENT TO EXCELLENCE IN CLINICAL CARE, INNOVATION IN PROGRAMS AND TECHNOLOGY, AND PROVIDING A COMPASSIONATE AND RESPECTFUL ENVIRONMENT. 0 0 784330283 127498284 1055445485 THE VALLEY HOSPITAL IN PARAMUS, NEW JERSEY IS A FULLY ACCREDITED, ACUTE CARE, NOT-FOR-PROFIT HOSPITAL SERVING MORE THAN 440,000 PEOPLE IN 32 TOWNS IN BERGEN COUNTY AND ADJOINING COMMUNITIES. THE VALLEY HOSPITAL IS PART OF VALLEY HEALTH SYSTEM, A REGIONAL HEALTHCARE SYSTEM THAT SERVES RESIDENTS IN NORTHERN NEW JERSEY AND SOUTHERN NEW YORK. IT COMPRISES THE VALLEY HOSPITAL, VALLEY HOME CARE, AND VALLEY MEDICAL GROUP. AS A NOT-FOR-PROFIT HOSPITAL, VALLEY IS COMMITTED TO GIVING BACK TO THE COMMUNITY. VALLEY SERVES THE COMMUNITY BY PROVIDING THOUSANDS OF HOURS OF HEALTHCARE EDUCATION AND SCREENINGS, SUPPORT GROUPS AND CLASSES TO ASSIST THOSE IN NEED, AND CARE TO ALL THOSE WHO COME THROUGH OUR DOORS, REGARDLESS OF THEIR ABILITY TO PAY. VALLEY'S LICENSED CAPACITY IS 2023 WAS 431 BEDS.BERGEN COUNTY IS THE MOST POPULOUS COUNTY IN NEW JERSEY AND ONE OF THE WEALTHIEST COUNTIES IN THE UNITED STATES. THERE ARE 952,997 RESIDENTS IN THE 233.01 SQUARE MILES OF BERGEN COUNTY, NJ. THE POPULATION IS 52.7% WHITE AND NON-HISPANIC, 22.7% HISPANIC, 7.8% BLACK, AND 17.6% ASIAN. SEVEN PERCENT OF THE POPULATION IS NOT PROFICIENT IN ENGLISH. THE CHILD POVERTY RATE IS 8% AND 17% OF STUDENTS ARE ELIGIBLE FOR FREE OR REDUCED-PRICE LUNCH. THE MEDIAN HOUSEHOLD INCOME IS $113,900. RESIDENTS ARE GENERALLY WELL-EDUCATED AND HAVE HIGHER GRADUATION RATES THAN NJ AS A WHOLE AND THE U.S. AS A WHOLE. BERGEN COUNTY FARES BETTER THAN THE AVERAGE COUNTY IN NEW JERSEY FOR HEALTH OUTCOMES. THE VALLEY HOSPITAL EMPLOYS PEOPLE WHO REPRESENT AND LIVE IN THE COMMUNITIES WE SERVE. MORE THAN 3,600 EMPLOYEES CONSTITUTE THE VALLEY HOSPITAL.VALLEY PARTICIPATES IN A COMMUNITY HEALTH NEEDS ASSESSMENT EVERY THREE YEARS. THIS ASSESSMENT IS PART OF A REGIONAL PROJECT CONDUCTED BY PROFESSIONAL RESEARCH CONSULTANTS, INC. (PRC) FOR THE COMMUNITY HEALTH IMPROVEMENT PARTNERSHIP (CHIP) OF BERGEN COUNTY. THE ASSESSMENT INCORPORATES DATA FROM MULTIPLE SOURCES, INCLUDING PRIMARY RESEARCH (THROUGH THE PRC COMMUNITY HEALTH SURVEY AND PRC ONLINE KEY INFORMANT SURVEY), AS WELL AS SECONDARY RESEARCH (VITAL STATISTICS AND OTHER EXISTING HEALTH-RELATED DATA). IT ALSO ALLOWS FOR TRENDING AND COMPARISON TO BENCHMARK DATA AT THE STATE AND NATIONAL LEVELS.IN 2023, 55,543 INDIVIDUALS WERE ADMITTED TO VALLEY, 73,171 PEOPLE WERE TREATED IN THE EMERGENCY DEPARTMENT, AND 3,602 BABIES WERE BORN. VALLEY'S KEY SERVICES INCLUDE CARDIOLOGY, ONCOLOGY, WOMEN'S AND CHILDREN'S SERVICES, EMERGENCY CARE, ORTHOPEDICS, AND NEUROSCIENCES. VALLEY ALSO OFFERS THE SERVICES OF A CENTER FOR MINIMALLY INVASIVE AND ROBOTIC SURGERY, A TOTAL JOINT REPLACEMENT CENTER, A NEUROSCIENCE CENTER, A CENTER FOR BARIATRIC SURGERY AND WEIGHT-LOSS MANAGEMENT, A CENTER FOR SLEEP MEDICINE, THE GAMMA KNIFE CENTER, AND THE KIREKER CENTER FOR CHILD DEVELOPMENT, AMONG OTHERS.VALLEY'S COMMUNITY CARE CLINIC HAD 5,271 VISITS IN 2023. THEY PROVIDE CARE AT NO COST TO THE PATIENTS WHO QUALIFY IN 16 (MEDICAL, NEUROLOGY, GI, GENERAL SURGERY, BREAST SURGERY, RHEUMATOLOGY, OPHTHALMOLOGY, GYN, OB, PEDIATRICS, PULMONARY, CARDIOLOGY, PAIN, DERMATOLOGY, ORTHOPEDICS, AND UROLOGY) SPECIALTY CLINICS. THEY CONTINUE TO PROVIDE CARE TO CHILDREN IN FOSTER CARE IN BERGEN AND PASSAIC COUNTIES THAT REQUIRE COMPLEX MEDICAL AND SUBSPECIALTY CARE. EACH YEAR, VALLEY DINING PREPARES OVER 23,000 MEALS FOR COMMUNITY MEALS, INC., AND FINANCIAL RESOURCES TO SUPPORT HOMEBOUND OLDER ADULTS IN VALLEY'S SERVICE AREA.VALLEY HEALTH SYSTEM HAS BEEN DESIGNATED AS AN LGBTQ+ HEALTHCARE EQUALITY HIGH PERFORMER BY THE HUMAN RIGHTS CAMPAIGN FOUNDATION, THE EDUCATIONAL ARM OF THE NATION'S LARGEST LESBIAN, GAY, BISEXUAL, TRANSGENDER, AND QUEER (LGBTQ+) CIVIL RIGHTS ORGANIZATION. THE HEALTHCARE EQUALITY INDEX STRIVES TO ENSURE LGBTQ+ PEOPLE ARE PROTECTED AND AFFIRMED BY THEIR HEALTHCARE PROVIDERS AND FEEL SAFE SEEKING SERVICES. HEI ACTIVE PARTICIPANTS ARE RECOGNIZED FOR IMPLEMENTING ROBUST, COMPREHENSIVE LGBTQ+ INCLUSIVE POLICIES THAT HOPEFULLY, BECAUSE OF THEIR WORK, BECOME STANDARD PRACTICE.VALLEY WORKS WITH LOCAL PARTNERS TO PROMOTE INCLUSIVITY AND EQUALITY. WHERE VALLEY WAS A SPONSOR, 335 COMMUNITY MEMBERS ATTENDED EDUCATION PROGRAMS ON LGBTQ+ HEALTH AND LOCAL PRIDE CELEBRATIONS. VALLEY'S SOCIAL EQUALITY COUNCIL IS THE RECIPIENT OF THE NEW JERSEY HOSPITAL ASSOCIATION'S (NJHA) 2023 DIVERSITY AND INCLUSION AWARD, FOR ITS WORK IN PROMOTING AN INCLUSIVE, FAIR, AND SUPPORTIVE CULTURE FOR OUR STAFF AND THE COMMUNITIES WE SERVE.FORMED IN 2020 IN THE WAKE OF NATIONWIDE PROTESTS AND DEMONSTRATIONS FOLLOWING THE DEATH OF GEORGE FLOYD, THE SOCIAL EQUALITY COUNCIL HAS TAKEN MANY STEPS TOWARD MAKING VALLEY AN EVEN BETTER PLACE FOR ALL EMPLOYEES, DOCTORS, AND MEMBERS OF OUR COMMUNITY. AMONG ITS ACCOMPLISHMENTS ARE THE CREATION OF THE CAREER DEVELOPMENT PROGRAM; INCREASED MINORITY REPRESENTATION IN MANAGEMENT AND PROMOTIONAL OPPORTUNITIES; AND ENHANCED UTILIZATION OF DIVERSE, MINORITY-LED VENDORS AND SUPPLIERS.VALLEY HEALTH SYSTEM'S CHAIR OF WOMEN'S SERVICES PRESENTED AT THE CONGRESSIONAL BLACK CAUCUS FOUNDATION'S ANNUAL LEGISLATIVE CONFERENCE ABOUT REDUCING BLACK MATERNAL MORTALITY. VALLEY CONTINUES TO PARTNER WITH BERGEN COMMUNITY COLLEGE TO DISCUSS HEALTH INEQUITIES AND HEALTH NEEDS OF THE BIPOC COMMUNITY. A PANEL DISCUSSION FEATURING FAMILY MEMBERS OF HENRIETTA LACKS WELCOMED OVER 200 PARTICIPANTS. THE DISCUSSION NOT ONLY FOCUSED ON THE STORY OF HENRIETTA LACKS, BUT ALSO COVERED TOPICS SUCH AS INFORMED CONSENT AND THE CONTRIBUTIONS OF HELA CELLS ON MODERN MEDICINE.THE BOYS & GIRLS CLUBS OF PASSAIC, PATERSON AND CLIFTON PARTICIPATED IN THREE CAREER EVENTS LEARNING ABOUT EMERGENCY MEDICAL SERVICES, CARDIAC PROCEDURES, AND HEALTHCARE CAREERS. FORTY-THREE HIGH SCHOOL SENIORS PARTICIPATED IN VALLEY'S CAREER FRONTIERS HIGH SCHOOL WORKFORCE DEVELOPMENT PROGRAM DURING THEIR SCHOOL YEAR, REPRESENTING 13 DIFFERENT SCHOOLS THROUGHOUT BERGEN AND PASSAIC COUNTIES. "CAREER FRONTIERS" HIGH SCHOOL INTERNSHIP PROGRAM PROVIDES HS SENIOR INTERNS THE OPPORTUNITY TO LEARN THROUGH SERVICE. STUDENTS INTERESTED IN A HEALTHCARE CAREER LEARN THROUGH OBSERVATION AND EXPERIENCE TO SUPPORT THEIR CAREER READINESS. INTERNS SERVE PATIENTS, FAMILIES, AND STAFF WITH ADDED EXPERIENCES THAT MAY INCLUDE ASSISTING WITH DEPARTMENT PROJECTS, OBSERVING PATIENT CARE OR PROCEDURES, ATTENDING MEETINGS, ESTABLISHING MEANINGFUL CONNECTIONS WITH PATIENTS, THEIR FAMILIES, VISITORS, AND INTERACTING WITH A VARIETY OF DIVERSE HEALTHCARE PROFESSIONALS. STUDENTS ARE REQUIRED TO COMPLETE WEEKLY REFLECTION JOURNALS AND ATTEND IN DEPTH DEPARTMENT TOURS AND SPECIAL HEALTHCARE CAREER EDUCATION EVENTS. TWENTY-FOUR STUDENTS THE PATERSON STEAM HIGH SCHOOL RECEIVED HEARTSAVER & AED TRAINING CERTIFICATION.THE RIDGEWOOD ACADEMY FOR HEALTH PROFESSIONS (RAHP) IS A PARTNERSHIP BETWEEN VALLEY, RIDGEWOOD HIGH SCHOOL, AND BERGEN COMMUNITY COLLEGE. THIS THREE-YEAR PROGRAM BEGAN IN 2005 AND HAS GRADUATED OVER 500 STUDENTS INTERESTED IN PURSUING CAREERS IN HEALTHCARE. DURING THE STUDENT'S FIRST YEAR, TERMED THEIR "EXPLORATION YEAR," STUDENTS VISIT THREE FULL-DAY SESSIONS LEARNING ABOUT DIFFERENT DEPARTMENTS IN THE HEALTHCARE SETTING. THE SECOND YEAR CONCENTRATES ON AREAS OF INTEREST THE STUDENTS WOULD LIKE TO FURTHER INVESTIGATE. DURING THE STUDENT'S THIRD YEAR, TERMED THEIR "MENTORSHIP YEAR," STUDENTS CHOOSE ONE HEALTH-RELATED ISSUE TO EXPLORE UNDER THE GUIDANCE OF A MENTOR AND PREPARE A CAPSTONE PROJECT. VALLEY HAS ALREADY HIRED THREE NURSES, TWO SOCIAL WORKERS, AN IMAGING TECH, A PHYSICIAN, AND AN ADMINISTRATOR WHO ARE ALL GRADUATES OF RAHP.PARTICIPATION IN COMMUNITY EDUCATION CLASSES HAVE GROWN EXPONENTIALLY THROUGH THE USE OF VIRTUAL EDUCATION TOOLS AND SOCIAL MEDIA. IN 2023, 14,803 PEOPLE ATTENDED FREE, IN-PERSON SCREENINGS, EXERCISE PROGRAMS, AND EDUCATION EVENTS. AN ADDITIONAL 167,000 PEOPLE VIEWED VIRTUAL EDUCATION, PODCASTS, WRITTEN EDUCATION, AND SOCIAL MEDIA. IN 2023, A TOTAL OF 181,877 LEARNED ABOUT GOOD HEALTH FROM VALLEY'S COMMUNITY HEALTH DEPARTMENT. WHEN ASKED, 93.4% OF PARTICIPANTS SHARED THAT THEY INCREASED THEIR KNOWLEDGE AS A RESULT OF ATTENDING ONE OF OUR PROGRAMS. AND 85.5% SAID THEY INTEND TO MAKE LIFESTYLE CHANGES AS A RESULT OF WHAT THEY LEARNED.PARTICIPANTS IN VALLEY'S FREE WALKING PROGRAMS WALKED 650 MILES IN 2023. NUTRITION PROGRAMS WERE ATTENDED BY 3,540, COVERING TOPICS SUCH FAD DIETS, NUTRITION TRENDS, NEW YEAR EATING HABITS, NUTRITION JEOPARDY, PLANT-BASED EATING, AND NUTRITION AND DIABETES. 784330283 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 246 0 4635 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X WILLIAM KLUTKOWSKI 2014478000 223 NORTH VAN DIEN AVENUE RIDGEWOOD NJ 07450 AUDREY MEYERS PRESIDENT & CEO, VHS 10.80 29.20 X X 0 2880401 52035 KEVIN LOBO CHAIR 0.10 0.50 X X 0 0 0 FRANK J SHEEHY VICE CHAIR 0.10 0.50 X X 0 0 0 ANN LIMBERG VICE CHAIR 0.10 0.50 X X 0 0 0 JOSEPH MARION TREASURER 0.10 0.50 X X 0 0 0 DENIS SALAMONE SECRETARY 0.10 0.50 X 0 0 0 JUDY BASELICE TRUSTEE 0.10 0.50 X 0 0 0 JAMES BUSH TRUSTEE 0.10 0.50 X 0 0 0 VINCENT FORLENZA CHAIR EMERITUS 0.10 0.50 X 0 0 0 MICHELLE HASSON TRUSTEE 0.10 0.50 X 0 0 0 M SHAWN KENNEDY TRUSTEE 0.10 0.50 X 0 0 0 BRUCE MACTAS TRUSTEE 0.10 0.50 X 0 0 0 DUANE SACHS TRUSTEE 0.10 0.50 X 0 0 0 SCOTT SCHROEDER TRUSTEE 0.10 0.50 X 0 0 0 EDWARD B SELF MD TRUSTEE 0.10 1.00 X 0 0 0 STEVEN SILVERSTEIN TRUSTEE 0.10 0.50 X 0 0 0 JEFFREY TUCKER TRUSTEE 0.10 0.50 X 0 0 0 PATRICIA VERDUIN TRUSTEE 0.10 0.50 X 0 0 0 WAYNE WALD ESQ TRUSTEE 0.10 0.50 X 0 0 0 WILLIAM KLUTKOWSKI SR. VP, FINANCE & CFO 12.00 28.00 X 0 1079106 51469 CHARLES VANNOY VP/CNO, PATIENT CARE SVCS 40.00 0.00 X 565180 0 48065 KARTEEK BHAVSAR SR. VP, OPERATIONS & BUSIN 20.00 20.00 X 800778 0 27800 JOSEPH YALLOWITZ VP & CHIEF MEDICAL OFFICER 40.00 0.00 X 878446 0 54392 PETER DIESTEL TRANSITIONAL CONSULTANT 40.00 0.00 X 647018 0 52521 DAVID BOHAN VP & CHIEF DEVELOPMENT OFF 4.00 36.00 X 643957 0 30891 BRAD HASPEL VP, ANCILLARY SERVICES 40.00 0.00 X 439719 0 28736 BETTYANN KEMPIN VP, ADMINISTRATION 40.00 0.00 X 417104 0 45985 4392202 3959507 391894 1044 0 1 0 TORCON INC 214 EAST GROVE STREET WESTFIELD NJ 07091 GENERAL CONTRACTOR 164615486 VAYA WORKFORCE SOLUTIONS LLC 5930 CORNERSTONE COURT WEST SUITE SAN DIEGO CA 92121 TEMPORARY STAFFING 14921971 FMG GENERAL CONTRACTING CO INC 616 MIDLAND AVENUE YONKERS NY 10704 GENERAL CONTRACTOR 11740168 HDR ARCHITECTURE 1917 SOUTH 67TH STREET OMAHA NE 68106 ARCHITECTURAL SERVICES 3845120 SCHNEIDER ELECTRIC 160 CHUBB AVE SUITE 201 LYNDHURST NJ 07071 ELECTRICAL CONTRACTOR 2693132 141 53143492 1590171 54733663 PATIENT SERVICE REVENU 621990 1051778708 1051778708 HEALTH AND WELLNESS CE 713940 3666777 3666777 1055445485 23550735 23550735 42721 42721 9259883 10130286 -870403 -870403 -870403 731582259 745534146 -13951887 -13951887 -13951887 PHARMACY 621990 16670184 8089430 8580754 PURCHASE DISCOUNTS AND 900099 11739228 11739228 NON-PATIENT LABORATORY 541380 2960450 2960450 2752770 2752770 34122632 1153072946 1055445485 11049880 31843918 127498284 127498284 1441823 1162921 278902 653 653 329529900 269641804 59888096 13421233 10981820 2439413 34133746 27928544 6205202 21576064 17653536 3922528 7569863 2304243 5265620 204910 204910 77884699 68856115 9028584 1213800 665386 548414 4556879 2940406 1616473 26525790 7991710 18534080 536729 384159 152570 2862804 2769100 93704 3240776 3240776 53229738 37260817 15968921 SUPPLIES 152225478 32217878 120007600 DRUGS 111390658 111390658 PROVISION FOR BAD DEBT 33071463 33071463 EQUIPMENT RENTAL 27766874 20899870 6867004 5470930 5470140 790 1035353094 784330283 251022811 0 5957584 7080761 96646472 110203286 23283646 24032858 8858083 11067272 2020054374 869393448 916572094 1150660926 997147668 915632141 143742536 150109637 2192208083 2368786881 191606849 195373452 354390867 333262362 60857448 60605214 113822826 121857844 720677990 711098872 X 1464806994 1650912107 6723099 6775902 1471530093 1657688009 2192208083 2368786881 X 117719852 73521471 -5083407 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18441891 461109 2196702 713075 20386627 20840125 303256 -2170944 682761 18289676 20740794 1085386 2340095 3326150 20840125 18696561 580178 2048555 584500 20740794 16182482 135316 2952763 574000 18696561 0.18186 0.48631 0.33183 0 0 92685923 92685923 669083755 497914726 171169029 428809293 370659425 58149868 829475403 819297 828656106 1150660926 ASSETS HELD BY RELATED ORGANIZATION 26343659 DEFERRED FINANCING COSTS AND OTHER ASSETS 123765978 150109637 ACCRUED BOND INTEREST PAYABLE 6532825 AMOUNT DUE TO THIRD PARTY PAYERS AND OTHER LIABILITIES 78880359 ESTIMATED PROFESSIONAL MEDICAL LIABILITY 36444660 121857844 X 1171167464 73521471 5044061 78565532 1092601932 60471014 60471014 1153072946 979926141 5044061 5044061 974882080 60471014 60471014 1035353094 PART V, LINE 4: ENDOWMENT FUNDS WERE RESTATED AS OF THE BEGINNING OF THE YEAR. THE FOUNDATION CURRENTLY MAINTAINS TWELVE DONOR-RESTRICTED AND TWO BOARD-DESIGNATED ENDOWMENT FUNDS WHOSE PURPOSES ARE TO PROVIDE LONG TERM SUPPORT FOR THE PROGRAMS AND SERVICES OF VALLEY HOSPITAL AND/OR VALLEY HOME CARE. PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING 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. THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2023 OR 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST RENTAL INCOME 5,044,061. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR BAD DEBT 33,071,463. CONTRIBUTION NETTED AGAINST EXPENSES 27,399,551. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST RENTAL INCOME 5,044,061. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR BAD DEBT 33,071,463. CONTRIBUTION NETTED AGAINST EXPENSES 27,399,551. 1 1 X 1 X 1 X 500.000000000000 1 1 0 1 1 11845546 633489 11212057 0.01080 33180592 24052291 9128301 0.00880 45026138 24685780 20340358 0.01960 3571992 44462 3527530 0.00340 2061603 0 2061603 0.00200 3005217 3005217 0.00290 3235834 2945 3232889 0.00310 464807 10 464797 0.00040 12339453 47417 12292036 0.01180 57365591 24733197 32632394 0.03140 2 1 285705 285705 0.00030 2 0 36480 36480 0.00000 5 597 373081 373081 0.00040 9 598 695266 695266 0.00070 0 33071463 14220729 317187990 420022359 -102834369 X 1 1 1 1 THE VALLEY HOSPITAL 223 NORTH VAN DIEN AVENUE RIDGEWOOD NJ 07450 X THE VALLEY HOSPITAL 1 0 0 1 X X X X X X X X X 22 1 1 1 1 X WWW.VALLEYHEALTH.COM/SERVICES/COMMUNITY-HEALTH X 1 22 1 WWW.VALLEYHEALTH.COM/SERVICES/COMMUNITY-HEALTH 0 1 X 200.000000000000 500.000000000000 X X X 1 1 X X X 1 X WWW.VALLEYHEALTH.COM/BILLING-INSURANCE/FINANCIAL-ASSISTANCE X WWW.VALLEYHEALTH.COM/BILLING-INSURANCE/FINANCIAL-ASSISTANCE X WWW.VALLEYHEALTH.COM/BILLING-INSURANCE/FINANCIAL-ASSISTANCE X X X X X X 1 X 0 X X X 1 X 0 0 THE VALLEY HOSPITAL PART V, SECTION B, LINE 5: THE ASSESSMENT INCORPORATES DATA FROM MULTIPLE SOURCES, INCLUDING PRIMARY RESEARCH (THROUGH THE PRC COMMUNITY HEALTH SURVEY AND PRC ONLINE KEY INFORMANT SURVEY) AND QUALITATIVE RESEARCH, INCLUDING FOCUS GROUPS AND KEY INFORMANT INTERVIEWS, AS WELL AS A REVIEW OF SECONDARY DATA, INCLUDING VITAL STATISTICS AND OTHER EXISTING HEALTH INDICATORS. 1,356 COMMUNITY HEALTH SURVEYS AND 146 KEY INFORMANT SURVEYS WERE COMPLETED. THE VALLEY HOSPITAL PART V, SECTION B, LINE 6A: THE VALLEY HOSPITAL IS PART OF A REGIONAL PARTNERSHIP, THE COMMUNITY HEALTH IMPROVEMENT PARTNERSHIP (CHIP) OF BERGEN COUNTY. THE OTHER HOSPITAL FACILITIES INCLUDED IN THE CHIP AND THEREFORE THE ASSESSMENT ARE: HOLY NAME MEDICAL CENTER, ENGLEWOOD HEALTH, HACKENSACK MERIDIAN HACKENSACK UNIVERSITY MEDICAL CENTER, HACKENSACK MERIDIAN PASCACK VALLEY MEDICAL CENTER, BERGEN NEW BRIDGE MEDICAL CENTER, AND CHRISTIAN HEALTH. THE VALLEY HOSPITAL PART V, SECTION B, LINE 6B: THE HOSPITAL'S CHNA WAS ALSO COMPLETED WITH THE COMMUNITY HEALTH IMPROVEMENT PARTNERSHIP OF BERGEN COUNTY AND THE DEPARTMENT OF HEALTH. THE VALLEY HOSPITAL PART V, SECTION B, LINE 11: THE PRIORITIES PREVIOUSLY IDENTIFIED IN THE 2019 ASSESSMENT CONTINUE TO BE PRESSING NEEDS BUT ARE NOW FURTHER COMPLICATED BY THE IMPACT OF THE COVID-19 PANDEMIC. EXISTING INEQUITIES IN OPPORTUNITY, ACCESS, AND EDUCATION WERE EXACERBATED BY THE PANDEMIC. THE INEQUITIES HIGHLIGHTED BY THE PANDEMIC ELEVATED HEALTH EQUITY AS A LENS TO BE PRIORITIZED AND MORE CLOSELY ADDRESSED IN THE 2022-2025 PLANNING EFFORT.HEALTH NEEDS IDENTIFIED IN THE CHNA RESEARCH WERE CONFIRMED BY COMMUNITY STAKEHOLDERS AND REFINED THROUGH COLLABORATIVE DISCUSSION. LOCAL CONCERNS WERE THEN ALIGNED WITH THE STATEWIDE HEALTH PRIORITIES IN THE NEW JERSEY STATE HEALTH IMPROVEMENT PLAN (2020). THIS APPROACH ENSURES PRIORITY AREAS REFLECT LOCAL CONCERNS AND COMMUNITY-GENERATED STRATEGIES FOR ACTION WHILE ESTABLISHING A CONNECTION TO STATEWIDE INITIATIVES. THERE WAS OVERWHELMING SUPPORT FOR THE STRATEGY, AND ULTIMATELY PARTICIPANTS ENDORSED THE PRIORITY AREAS FOR 2023-2025 AS HEALTHY MINDS, HEALTHY BODIES, AND BUILDING BRIDGES. HEALTHY MINDS - BEHAVIORAL HEALTH AND MENTAL HEALTH, SUBSTANCE ABUSE, STRESS, ADVERSE CHILDHOOD EXPERIENCES. HEALTHY BODIES - CHRONIC DISEASE PREVENTION AND AWARENESS. THIS INCLUDES CANCER, DIABETES, HEART DISEASE, STROKE, TOBACCO USE, NUTRITION, PHYSICAL ACTIVITY AND WEIGHT, RESPIRATORY DISEASES. BUILDING BRIDGES - IMPROVING COMMUNICATION, FOSTERING COLLABORATION, OUTREACH AND INCLUSION. SUB-PRIORITIES INCLUDE APPOINTMENT AVAILABILITY, FINDING A PHYSICIAN, INCONVENIENT HOURS, AND LACK OF TRANSPORTATION. SCHEDULE H, PART V, SECTION B, LINE 5: THE HOSPITAL FACILITY TOOK INTO ACCOUNT INPUT FROM PERSONS WHO REPRESENT THE COMMUNITY BY ENGAGING INDIVIDUALS ACROSS BERGEN COUNTY TO PARTICIPATE IN THE ASSESSMENT AND PLANNING PROCESS. REPRESENTATIVES FROM HEALTH AND SOCIAL SERVICE PROVIDERS; COUNTY LEADERSHIP AND STAFF; FAITH LEADERS; COMMUNITY RESIDENTS; HOSPITAL LEADERSHIP, CLINICIANS AND STAFF; COMMUNITY AND PUBLIC HEALTH OFFICIALS; AND COMMUNITY ORGANIZERS AND ADVOCATES PARTICIPATED IN THE PROCESS. EACH REPRESENTATIVE ORGANIZATION ON THE STEERING COMMITTEE SUBMITTED A LIST OF KEY INFORMANTS THAT COULD PROVIDE A DEEP AND BROAD PERSPECTIVE ON THE HEALTH-RELATED NEEDS OF THE COUNTY AND BECAUSE OF THEIR ABILITY TO IDENTIFY PRIMARY CONCERNS OF THE POPULATIONS WITH WHOM THEY WORK. REFINED THE FINDINGS FROM QUANTITATIVE DATA SOURCES AND PROVIDED VALUABLE INSIGHT ON COMMUNITY NEED, COMMUNITY HEALTH PRIORITIES, TO ENSURE THE BEST REPRESENTATION OF THE POPULATION SURVEYED, A MIXED-MODE METHODOLOGY WAS IMPLEMENTED. THIS INCLUDED TARGETED SURVEYS CONDUCTED BY PRC VIA TELEPHONE (CELL PHONE AND LANDLINE) OR THROUGH ONLINE QUESTIONNAIRES, AS WELL AS A COMMUNITY OUTREACH COMPONENT, PROMOTED BY THE STUDY SPONSERS THROUGH SOCIAL MEDIA POSTING AND OTHER COMMUNICATIONS,RANDOM-SMAPLE SURVEYS WERE USED FOR TARGETED ADMISNITRATION, PRC ADMINISTERED 571 SURVEYS AT RANDOM THROUGHOUT THE SERVICE AREA.COMMUNITY OUTREACH SURVEYS (COMMUNITY HEALTH IMPROVEMENT PARTNERSHIP OF BERGEN COUNTY) PRC CREATED A LINK TO AN ONLINE VERSION OF THE SURVEY, AND AREA HOSPITALS ALONG WITH PARTNERSHIP ORGANIZATIONS PROMOTED THIS LINK THROUGHOUT THE VARIOUS COMMUNITIES IN ORDER TO DRIVE ADDITIONAL PARTICIPATION AND BOLSTER OVERALL SAMPLES. THIS YIELDED AN ADDITIONAL 785 SURVEYS TO THE OVERALL SAMPLE.IN ALL 1,356 SURVEYS WERE COMPLETED THROUGH THESE MECHANISMS. ONCE THE INTERVIEWS WERE COMPLETED, THESE WERE WEIGHTED IN PROPORTION TO THE ACTUAL POPULATION DISTRIBUTION SO AS TO APPROPRIATELY REPRESENT THE SERVICE AREA AS A WHOLE. ALL ADMINSITRATION OF THE SURVEYS, DATA COLLECTION, AND DATA ANALYSIS WAS CONDUCTED BY PRC.THE FOLLOWING FOCUS GROUPS AND INDIVIDUALS WERE CONSULTED:FOCUS GROUPS:- AFRICAN AMERICAN COMMUNITY LEADERS- ELDER CARE PROVIDERS- EMT/FIRST RESPONDERS- HEALTH OFFICALS FROM BERGEN COUNTY COMMUNITY - KOREAN LANGUAGE SPEAKERS- LGBTQ+ COMMUNITY MEMBERS- MENTAL HEALTH AND SUBSTANCE USER PROVIDERS- LATINX COMMUNITY LEADERS- YOUTH SERVICE PROVIDERSVIRTUAL INTERVIEWS:- LYNN ALGRANT, BERGEN COMMUNITY ACTION- HELEN ARCHIONTOU, YMCA NORTHERN NJ- DR. HILLARY COHEN, CME ENGELWOOD HEALTH- LIZ CORSINI, BERGEN FAMILY CENTER- DR. MOHAMMED ELRAFEI, CHRISTIAN HEALTH RAMAPO RIDGE PSYCHIATRIC HOSPITAL- SOFIA MAGNIFICO, CHRISTIAN HEALTH- MICHAEL MCCANN, FORGE HEALTH- COMMINSIONER GERMAINE ORTIZ- KRISTINE PENDY, BERGEN NEW BRIDGE HEALTH- VITO VENERUSO, NORTH HUDSON COMMUNITY ACTION- DEBORAH VISCONI, BERGEN NEW BRIDGE MEDICAL CENTER- EJ VIZZI, AGE FRIENDLY TEANECK- CHAIRWOMEN, COMMISSIONR TRACY ZUR PART I, LINE 6A: THE HOSPITAL PREPARES AN ANNUAL COMMUNITY BENEFIT REPORT AND IS AVAILABLE UPON REQUEST. COMMUNITY BENEFIT STATISTICS ARE ALSO REPORTED AT OUR ANNUAL MEETING, WHICH IS OPEN TO THE PUBLIC. PART I, LINE 7: THE COST TO CHARGE RATIO USED TO CALCULATE THE AMOUNTS IN THE TABLE WAS DERIVED FROM WORKSHEET 2, RATIO OF PATIENT CARE COST-TO-CHARGES. PART I, LINE 7G: THERE ARE NO SUBSIDIZED HEALTH SERVICES WHICH ARE ATTRIBUTABLE TO A PHYSICIAN CLINIC. COSTS INCLUDED REPRESENT MEDICATION AND TRANSPORTATION FOR INDIGENT PATIENTS. PART II, COMMUNITY BUILDING ACTIVITIES: SEE STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS PART III, LINE 2: THIS IS THE TOTAL BAD DEBT EXPENSE FOR THE HOSPITAL DISCOUNTED BY THE RATIO OF PATIENT CARE COST TO CHARGES. PART III, LINE 3: THIS IS THE TOTAL BAD DEBT EXPENSE FOR PATIENTS ELIGIBLE FOR FINANCIAL ASSISTANCE DISCOUNT BY THE RATIO OF PATIENT CARE COST TO CHARGES. PART III, LINE 4: NET PATIENT SERVICE REVENUES ARE RECOGNIZED AT THE AMOUNT THAT REFLECTS THE CONSIDERATION TO WHICH THE ORGANIZATION EXPECTS TO BE ENTITLED IN EXCHANGE FOR PROVIDING PATIENT CARE. THESE AMOUNTS ARE DUE FROM PATIENTS, THIRD-PARTY PAYORS (INCLUDING COMMERCIAL AND GOVERNMENTAL PROGRAMS) AND OTHERS AND INCLUDES VARIABLE CONSIDERATION FOR RETROACTIVE REVENUE ADJUSTMENTS DUE TO SETTLEMENT OF AUDITS, REVIEWS AND INVESTIGATIONS. GENERALLY, THE ORGANIZATION BILLS THE PATIENTS AND THIRD-PARTY PAYORS SEVERAL DAYS AFTER THE SERVICES ARE PERFORMED AND/OR THE PATIENT IS DISCHARGED FROM THE FACILITY. REVENUES ARE RECOGNIZED AS PERFORMANCE OBLIGATIONS ARE SATISFIED.PERFORMANCE OBLIGATIONS ARE DETERMINED BASED ON THE NATURE OF THE SERVICES PROVIDED BY THE ORGANIZATION. REVENUES FOR PERFORMANCE OBLIGATIONS SATISFIED OVER TIME IS RECOGNIZED BASED ON ACTUAL SERVICES INCURRED IN RELATION TO TOTAL EXPECTED (OR ACTUAL) PAYMENTS. THE ORGANIZATION BELIEVES THAT THIS METHOD PROVIDES A FAITHFUL DEPICTION OF THE TRANSFER OF SERVICES OVER THE TERM OF THE PERFORMANCE OBLIGATION BASED ON THE INPUTS NEEDED TO SATISFY THE OBLIGATION. GENERALLY, PERFORMANCE OBLIGATIONS SATISFIED OVER TIME RELATE TO PATIENTS IN THE ORGANIZATION RECEIVING INPATIENT ACUTE CARE SERVICES. THE ORGANIZATION MEASURES THE PERFORMANCE OBLIGATION FROM ADMISSION INTO THE FACILITY TO THE POINT WHEN IT IS NO LONGER REQUIRED TO PROVIDE SERVICES TO THAT PATIENT, WHICH IS GENERALLY AT THE TIME OF DISCHARGE. REVENUES FOR PERFORMANCE OBLIGATIONS SATISFIED AT A POINT IN TIME ARE RECOGNIZED WHEN SERVICES ARE PROVIDED AND THE ORGANIZATION DOES NOT BELIEVE IT IS REQUIRED TO PROVIDE ADDITIONAL SERVICES TO THE PATIENT.GENERALLY, BECAUSE ALL THE ORGANIZATION'S PERFORMANCE OBLIGATIONS RELATE TO CONTRACTS WITH A DURATION OF LESS THAN ONE YEAR, THE ORGANIZATION HAS ELECTED TO APPLY THE OPTIONAL EXEMPTION PROVIDED IN ACCOUNTING STANDARD CODIFICATION (ASC) 606-10-50-14(A) AND, THEREFORE, THE ORGANIZATION IS NOT REQUIRED TO DISCLOSE THE AGGREGATE AMOUNT OF THE TRANSACTION PRICE ALLOCATED TO PERFORMANCE OBLIGATIONS THAT ARE UNSATISFIED OR PARTIALLY UNSATISFIED AT THE END OF THE REPORTING PERIOD. THE UNSATISFIED OR PARTIALLY UNSATISFIED PERFORMANCE OBLIGATIONS REFERRED TO ABOVE ARE PRIMARILY RELATED TO INPATIENT ACUTE CARE SERVICES AT THE END OF THE REPORTING PERIOD. THE PERFORMANCE OBLIGATIONS FOR THESE CONTRACTS ARE GENERALLY COMPLETED WHEN THE PATIENTS ARE DISCHARGED, WHICH GENERALLY OCCURS WITHIN DAYS OR WEEKS OF THE END OF THE REPORTING PERIOD.THE ORGANIZATION DETERMINES THE TRANSACTION PRICE BASED ON STANDARD CHARGES FOR SERVICES PROVIDED, REDUCED BY CONTRACTUAL ADJUSTMENTS PROVIDED TO THIRD-PARTY PAYORS, DISCOUNTS PROVIDED TO UNINSURED PATIENTS IN ACCORDANCE WITH THE ORGANIZATION'S POLICY AND/OR IMPLICIT PRICE CONCESSIONS PROVIDED TO UNINSURED PATIENTS. THE ORGANIZATION DETERMINES ITS ESTIMATES OF CONTRACTUAL ADJUSTMENTS AND DISCOUNTS BASED ON CONTRACTUAL AGREEMENTS, ITS DISCOUNT POLICIES AND HISTORICAL EXPERIENCE. THE ORGANIZATION DETERMINES ITS ESTIMATE OF IMPLICIT PRICE CONCESSIONS BASED ON ITS HISTORICAL COLLECTION EXPERIENCE WITH THIS CLASS OF PATIENTS. PART III, LINE 8: IN ADDITION TO CHARITY CARE, BAD DEBT, AND THE TREATMENT OF FINANCIALLY NEEDY PATIENTS UNDER THE MEDICAID PROGRAM, THE HOSPITAL PROVIDES SERVICES TO ELDERLY AND DISABLED PATIENTS COVERED UNDER THE MEDICARE PROGRAM REGARDLESS OF INCOME. THE UNPAID COSTS ATTRIBUTED TO PROVIDING CARE UNDER THIS PROGRAM (MEDICARE SHORTFALL) ARE CONSIDERED TO BE COMMUNITY BENEFIT. PART III, LINE 9B: WHEN A PATIENT MAY QUALIFY FOR CHARITY CARE OR FINANCIAL ASSISTANCE, OUR SYSTEM IS SET UP TO STOP SENDING STATEMENTS TO PREVENT THEM FROM GOING TO A COLLECTION AGENCY. WE ALSO HAVE THE ABILITY TO MANUALLY PUT AN ACCOUNT ON HOLD TO AVOID COLLECTION ACTIVITY AS WELL. PART VI, LINE 2: HOSPITAL STAFF REVIEWS ALL THE DISCHARGE DATA FROM THE STATE DOHSS TO DETERMINE WHAT THE MAJOR HEALTH ISSUES ARE IN THE COMMUNITY. WE LOOK AT DISEASE SPECIFIC INCIDENCE RATES IN OUR COMMUNITY AND DEVELOP FORECASTS FOR WHAT HEALTH ISSUES ARE PROJECTED TO PLAGUE THE POPULATION IN THE FUTURE. WE REVIEW CENSUS DATA TO MONITOR DEMOGRAPHIC SHIFTS AND WE CONDUCT QUALITATIVE RESEARCH (FOCUS GROUPS) TO ASSESS COMMUNITY FEEDBACK TO NEW PROGRAMS AND SERVICES. WE DEVELOP OUR CORE SERVICES AROUND THE MAJOR HEALTH ISSUES IN THE COMMUNITY - THUS, THEY ARE MOSTLY IN THE AREA OF HEART AND VASCULAR DISEASE, ONCOLOGY (MEDICAL AND SURGICAL), NEUROLOGY (STROKE) AND WOMEN'S AND CHILDREN'S SERVICES (OB, NICU, PICU, MFM AND IVF). PART VI, LINE 3: SIGNS ARE POSTED AT EVERY REGISTRATION AREA. INFORMATION REGARDING FINANCIAL SCREENING IS POSTED ON THE HOSPITAL'S WEBSITE FOR CHARITY CARE AS WELL AS THE UNINSURED DISCOUNT POLICY. PATIENTS CAN PRINT APPLICATIONS AND REQUIREMENTS FROM THE WEBSITE. THE HOSPITAL'S STATEMENTS CONTAIN INFORMATION ALERTING PATIENTS OF FINANCIAL ASSISTANCE. THE HOSPITAL'S HANDBOOKS EXPLAIN FINANCIAL OPTIONS WHICH INCLUDE INFORMATION OF STATE ASSISTANCE, DISCOUNT POLICY AND ANY OTHER TYPE OF FINANCIAL ARRANGEMENT. PART VI, LINE 4: THE PRIMARY AND SECONDARY SERVICE AREA OF THE VALLEY HOSPITAL IS COMPOSED OF 34 TOWNS IN NORTHWEST BERGEN AND PASSAIC COUNTIES. THESE COMMUNITIES ACCOUNT FOR OVER 65% OF ALL OF OUR DISCHARGES. THE POPULATION IS 460,000 PEOPLE. PART VI, LINE 5: CONSTRUCTION IS CURRENTLY IN PROCESS FOR A NEW STATE OF THE ART HOSPITAL OPENING IN 2024. THE NEW HOSPITAL WILL PROVIDE AN EVEN BETTER EXPERIENCE FOR PATIENTS AND FAMILIES, MEETING THE HEALTH CARE NEEDS OF THE NORTHERN NEW JERSEY COMMUNITY FOR YEARS TO COME. 1 VALLEY PHYSICIAN SERVICES INC 223 NORTH VAN DIEN AVENUE RIDGEWOOD NJ 07450 320041186 501(C)(3) 126871032 0 GENERAL SUPPORT VALLEY HEALTH SYSTEM 223 NORTH VAN DIEN AVENUE RIDGEWOOD NJ 07450 222922016 501(C)(3) 339362 0 GENERAL SUPPORT BERGEN VOLUNTEER MEDICAL INITIATIVE 75 ESSEX STREET HACKENSACK NJ 07692 202633437 501(C)(3) 30000 0 GENERAL SUPPORT AMERICAN RED CROSS 209 FAIRFIEDL ROAD FAIRFIELD NJ 07004 530196605 501(C)(3) 25000 0 GENERAL SUPPORT PONY POWER THERAPIES INC 1170 RAMAPO VALLEY ROAD MAHWAH NJ 07430 203210841 501(C)(3) 21150 0 GENERAL SUPPORT BERGEN PERFORMING ARTS CENTER INC 30 NORTH VAN BRUNT STREET ENGLEWOOD NJ 07631 300194642 501(C)(3) 20000 0 GENERAL SUPPORT BOROUGH OF PARAMUS JOCKISH SQUARE PARAMUS NJ 07652 226002186 BOROUGH OF PARAMUS 20000 0 GENERAL SUPPORT BOYS & GIRLS CLUB OF PATERSON 264 21ST AVE PATERSON NJ 07501 221726665 501(C)(3) 20000 0 GENERAL SUPPORT CHILDREN'S AID & FAMILY SERVICES INC 200 ROBIN ROAD PARAMUS NJ 07652 221487147 501(C)(3) 15000 0 GENERAL SUPPORT AMERICAN HEART ASSOCIATION P O BOX 4002012 DE MOINES IA 503402012 135613797 501(C)(3) 15000 0 GENERAL SUPPORT MAHWAH REGIONAL CHAMBER OF COMMERCE INC ONE INTERNATIONAL BOULEVARD MAHWAH NJ 07495 223145589 501(C)(6) 12240 0 GENERAL SUPPORT SPECTRUM FOR LIVING DEVELOPMENT INC 210 RIVERVALE RD RIVER VALE NJ 07675 134148824 501(C)(3) 10000 0 GENERAL SUPPORT WELLS MOUNTAIN INITIATIVE 25D MAIN ST BRISTOL VT 05443 203823604 501(C)(3) 10000 0 GENERAL SUPPORT COMMUNITY MEALS INC 105 COTTAGE PLACE RIDGEWOOD NJ 07450 221976783 501(C)(3) 8000 0 GENERAL SUPPORT MONTVALE CHAMBER OF COMMERCE 12 MERCEDES DRIVE MONTVALE NJ 07645 208485568 501(C)(6) 7500 0 GENERAL SUPPORT NJ SHARING NETWORK 691 CENTRAL AVENUE NEW PROVIDENCE NJ 07974 202737719 501(C)(3) 7500 0 GENERAL SUPPORT MOUNT SINAI HEALTH SYSTEM 1 GUSTAVE L LEVY PLACE BOX 1223 NEW YORK NY 100029657 133939476 501(C)(3) 6000 0 GENERAL SUPPORT LIBERTY SCIENCE CENTER 222 JERSEY CITY BLVD JERSEY CITY NJ 07305 222302253 501(C)(3) 5500 0 GENERAL SUPPORT 16 2 PART I, LINE 2: THE BOARD'S COMMITTEE FOR COMMUNITY BENEFITS APPROVES THE GRANTS AND CHECKS ARE SENT TO EACH RECIPIENT BY YEAR-END, PROVIDING A CLEAR TIMELINE FOR THE PROCESS. THE RECIPIENTS THEN RECEIVE A LETTER FOR THE AWARD AMOUNT THAT STIPULATES REPORTS MUST BE SENT TO THE ORGANIZATION CONVEYING WHAT THE FUNDS HAVE BEEN USED FOR DURING THE YEAR. THE REQUIRED REPORTS MUST BE SENT TO THE ORGANIZATION BY JULY 1 EVERY YEAR. ONCE THE REPORTS ARE RECEIVED, THE ORGANIZATION'S STAFF REVIEWS THE REPORTS TO ENSURE THE GRANT FUNDS ARE UTILIZED AS STIPULATED. X 1 0 X X X X 0 1 0 0 0 0 0 1 0 AUDREY MEYERS PRESIDENT & CEO, VHS 0 1349573 0 1039480 0 491348 0 24750 0 27285 0 2932436 0 437682 WILLIAM KLUTKOWSKI SR. VP, FINANCE & CFO 0 669565 0 204270 0 205271 0 21450 0 30019 0 1130575 0 0 JOSEPH YALLOWITZ VP & CHIEF MEDICAL OFFICER 552767 0 171478 0 154201 0 16500 0 37892 0 932838 0 0 0 KARTEEK BHAVSAR SR. VP, OPERATIONS & BUSIN 542142 0 147108 0 111528 0 24750 0 3050 0 828578 0 0 0 PETER DIESTEL TRANSITIONAL CONSULTANT 352738 0 136875 0 157405 0 26116 0 26405 0 699539 0 150895 0 DAVID BOHAN VP & CHIEF DEVELOPMENT OFF 387161 0 159144 0 97652 0 15762 0 15129 0 674848 0 0 0 CHARLES VANNOY VP/CNO, PATIENT CARE SVCS 362969 0 115425 0 86786 0 24144 0 23921 0 613245 0 0 0 BRAD HASPEL VP, ANCILLARY SERVICES 317184 0 53550 0 68985 0 16207 0 12529 0 468455 0 0 0 BETTYANN KEMPIN VP, ADMINISTRATION 280903 0 54630 0 81571 0 23250 0 22735 0 463089 0 0 0 PART I, LINE 3 THE ORGANIZATION'S BOARD IS A SHARED BOARD WITH THE VALLEY HEALTH SYSTEM. THE VALLEY HEALTH SYSTEM HAS DEVELOPED A COMPENSATION PLAN, WHICH GOVERNS THE COMPENSATION FOR ALL EXECUTIVES, INCLUDING THE CEO AND VICE PRESIDENTS OF THE ORGANIZATION. THE PLAN WAS DEVELOPED IN CONJUNCTION WITH A CONSULTING FIRM, REVIEWED BY THE PHYSICIAN LEADERSHIP COUNCIL AND APPROVED BY THE BOARD OF TRUSTEES AND THE VALLEY HEALTH SYSTEM PHYSICIAN COMPENSATION COMMITTEE. ON AN ANNUAL BASIS, THE PLAN IS REVIEWED AND UPDATED AS NEEDED. PART I, LINE 4B AUDREY MEYERS, WILLIAM KLUTKOWSKI AND PETER DIESTEL PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. THE FOLLOWING INDIVIDUALS RECEIVED A PAYMENT IN 2023: AUDREY MEYERS, $437,682 AND PETER DIESTEL, $150,895 AS REPORTED IN PART II, COLUMN BIII AND COLUMN F. AUDREY MEYERS AND PETER DIESTEL PARTICIPATED IN A CAP-EX (SPLIT-DOLLAR LIFE INSURANCE PLAN). THEY DID NOT RECEIVE A PAYMENT DURING 2023. SEE SCHEDULE L, PART V, FOR A BROADER DESCRIPTION OF THE ARRANGEMENT. PART I, LINE 7 EMPLOYEES OF THE ORGANIZATION RECEIVED A BOARD-APPROVED DISCRETIONARY BONUS, AWARDED BASED ON PERFORMANCE, AS REPORTED IN PART II, COLUMN B(II). A NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY 221987084 645790NB8 2019-12-11 402437137 CONSTRUCTION OF NEW HOSPITAL 0 0 0 A 52940000 404833633 2437137 400000000 2024 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 PART II, LINE 3 THE DIFFERENCE BETWEEN THE ISSUE PRICE AND THE TOTAL AMOUNT OF PROCEEDS REPRESENTS INVESTMENT EARNINGS. AUDREY MEYERS PRESIDENT/CEO, VHS SEE PART V X 9071138 11939558 0 1 1 ROBIN GOLDFISCHER-HOLLANDER SENIOR VP, LEGAL SERVICES SEE PART V X 3392128 4463818 0 1 1 PETER DIESTEL PRESIDENT, VHS OPERATIONS SEE PART V X 5796536 7629482 0 1 1 24032858 SCHEDULE L, PART II, COLUMN (C) THE HOSPITAL PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE IRS REQUIRES REPORTING IN THE LOAN SECTION OF SCHEDULE L, CASD IS NOT A LOAN BECAUSE NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. RATHER, THE "LOAN" TREATMENT APPLIES BECAUSE AFTER THE EXECUTIVE HAS RECEIVED RETIREMENT BENEFITS, THE HOSPITAL RECOVERS ALL OF ITS OUTLAYS PLUS INTEREST. THE RECOVERY RIGHT IS A KEY ADVANTAGE OF CASD FOR THE HOSPITAL. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD THE HOSPITAL RECOVERS NOT ONLY ITS OUTLAYS BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY. CASD WORKS AS FOLLOWS. THE HOSPITAL DEPOSITS FUNDS INTO CASH VALUE LIFE INSURANCE POLICIES ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE CASH SURRENDER VALUE TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE HOSPITAL'S RECOVERY RIGHTS. AT THE EXECUTIVE'S DEATH, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY THE HOSPITAL ITS DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. IF DEATH HAD OCCURRED DURING THE REPORTING YEAR, ANY REMAINING DEATH PROCEEDS WOULD HAVE BEEN PAID TO THE HOSPITAL. FORM 990, PART III, LINE 4A OVER 1,000 PEOPLE PARTICIPATED IN FREE BLOOD PRESSURE SCREENING CLINICS, AND 17,288 PEOPLE PARTICIPATED IN PROGRAMS ON CARDIAC AND STROKE. SOME PROGRAM TOPICS INCLUDE ANTICOAGULANTS, PROTECTING YOUR HEART, NUTRITION AND HEAR HEALTH, DEEP VEIN THROMBOSIS, AND HOLISTIC HEART HEALTH. VALLEY ALSO HOSTS A STROKE SUPPORT GROUP WITH APPROXIMATELY 10 PARTICIPANTS EACH MONTH. PARTICIPANTS IN VALLEY HOSPITAL'S SMOKING CESSATION PROGRAM REPORT UNEXPECTED BENEFITS AFTER QUITTING, SUCH AS IMPROVED TASTE AND SMELL, BETTER SKIN AND APPEARANCE, AND EVEN REDUCED STRESS LEVELS. VALLEY WORKS WITH THE OTHER BERGEN COUNTY HOSPITALS, THE BERGEN COUNTY HEALTH DEPARTMENT, AND OTHER SERVICE ORGANIZATIONS ON EFFORTS TO IMPROVE HEALTH IN OUR COMMUNITIES. THE CHIP IS JUST ONE COMMUNITY PARTNERSHIP THAT IS DEDICATED TO IMPROVING HEALTH. AS PART OF THE CHIP, VALLEY DONATES INSTRUCTORS TO PROVIDE FREE EXERCISE CLASSES IN LOCAL PARKS. VALLEY ALSO PROVIDES IN KIND LEADERSHIP TO THE BOARD. THE NORTHWEST BERGEN REGIONAL HEALTH COMMISSION PROVIDES PUBLIC HEALTH SERVICES TO MANY TOWNS IN OUR AREA. WE RECENTLY PARTNERED WITH NWBRHC TO PROVIDE PUBLIC HEALTH EDUCATION AND NURSING SERVICES TO 12 OF THEIR TOWNS. VALLEY IS PROUD TO AFFILIATE WITH HIGH-QUALITY ORGANIZATIONS TO OFFER OUR PATIENTS THE BEST CARE AND SERVICE. OUR ACADEMIC AFFILIATION WITH THE MOUNT SINAI HEALTH SYSTEM PROVIDES STATE-OF-THE-ART, COMPREHENSIVE CANCER CARE AND SPECIALTY CHILDREN'S SERVICES TO OUR PATIENTS AND THEIR FAMILIES. WE ALSO HAVE A CARDIAC AFFILIATION WITH CLEVELAND CLINIC THE NO. 1 HEART HOSPITAL IN THE COUNTRY TO SHARE BEST PRACTICES, COORDINATE CARE, AND DEVELOP PROGRAMS TO IMPROVE QUALITY AND PATIENT SAFETY. IN 2023, 64,000 PEOPLE ATTENDED CANCER PROGRAMS. THIS REMARKABLE RESPONSE WAS DUE TO A VIRTUAL PROSTATE CANCER EDUCATION THAT APPEARED TO "GO VIRAL." COLON CANCER AWARENESS, UTERINE CANCER, SUN PROTECTION, CANCER AND YOUR HEART, AND CANCER SCREENINGS WERE SOME OF THE TOPICS DISCUSSED. VALLEY RECEIVED THE SCOPY AWARD BY THE AMERICAN COLLEGE OF GASTROENTEROLOGY FOR THEIR EFFORTS IN COMMUNITY ENGAGEMENT, EDUCATION, AND AWARENESS EFFORTS FOR COLORECTAL CANCER PREVENTION. THE 2023 PARAMUS RELAY FOR LIFE WAS A GREAT SUCCESS. VALLEY HEALTH SYSTEM'S TEAM RAISED ALMOST $28,500, AND THE EVENT ITSELF RAISED APPROXIMATELY $54,000! THE VALLEY TEAM WAS EVEN PRESENTED WITH A SPECIAL AWARD BY THE AMERICAN CANCER SOCIETY FOR BEING THE 6TH LARGEST TEAM IN THE NATION FOR FUNDRAISING! OVER THE LAST 21 YEARS, VALLEY'S TOTAL RELAY FOR LIFE DONATIONS ARE ALMOST $420,000! VALLEY HEALTH SYSTEM AND CHRISTIAN HEALTH HAVE PARTNERED TO LAUNCH VALERIDGE CENTER FOR BEHAVIORAL HEALTH AND WELLNESS, COMBINING RESOURCES TO ADDRESS THE GROWING DEMAND FOR ACCESSIBLE MENTAL HEALTH CARE IN THE NORTHERN NEW JERSEY COMMUNITIES THEY SERVE. THE CENTER OFFERS RAPID-ACCESS MENTAL HEALTH SERVICES FOR INDIVIDUALS OF ALL AGES IN THE GREATER BERGEN COUNTY COMMUNITY, WITH A SPECIAL FOCUS ON MATERNAL MENTAL HEALTH AND CHILD AND ADOLESCENT SERVICES. ALMOST 3,000 PEOPLE ATTENDED MENTAL HEALTH AND SUBSTANCE ABUSE EDUCATION PROGRAMS ON TOPICS INCLUDING KIDS AND SOCIAL MEDIA, STRESS MANAGEMENT, GUIDED MEDITATION, DEPRESSION AWARENESS, AND IMPROVING YOUR MEMORY. WE PARTNER WITH AREA MENTAL HEALTH ORGANIZATIONS TO ENSURE THAT INFORMATION IS PROVIDED WHEN REQUESTED. OVER 21,000 LEARNED ABOUT VARIOUS ORTHOPEDIC TOPICS, SUCH AS HEALING YOUR BONES, BETTER BALANCE, MANAGING OSTEOARTHRITIS, AND SHOULD PAIN. VALLEY PROVIDES AN INSTRUCTOR, LOCATION, AND ADMINISTRATIVE SUPPORT FOR PROJECT HEALTHY BONES. THIS FREE 24-WEEK EXERCISE CLASS AND EDUCATION PROGRAM IS FOR OLDER WOMEN AND MEN AT RISK FOR, OR WHO HAVE, OSTEOPOROSIS. DRUMMING FOR STRESS IS AN EVIDENCE-BASED PROGRAM THAT'S BEEN SHOWN TO REDUCE STRESS, ANXIETY AND DEPRESSION, HELP CONTROL CHRONIC PAIN, AND LOWER BLOOD PRESSURE. VALLEY PROVIDES INSTRUCTORS, EQUIPMENT, AND SUPPORT TO PROVIDE THIS PROGRAM MONTHLY FOR COMMUNITY MEMBERS. VALLEY'S COMMUNITY SPEAKER'S BUREAU PROVIDED SPEAKERS FOR 39 COMMUNITY ORGANIZATIONS, SUCH AS CHURCHES, LOW-INCOME HOUSING, SENIOR CENTERS, AND SOCIAL CLUBS. TOPICS INCLUDED SLEEP HEALTH, STROKE PREVENTION, MEMORY, BALANCE, NUTRITION, MENTAL HEALTH, AND HEART HEALTH. THE VALLEY HOSPITAL HAS RECEIVED TWO AWARDS FROM PRACTICE GREENHEALTH, A LEADER IN HEALTHCARE SUSTAINABILITY. THE PARTNER FOR CHANGE AWARD RECOGNIZES VALLEY'S ONGOING COMMITMENT TO IMPROVING OUR ENVIRONMENTAL PERFORMANCE, AS WELL AS OUR EFFORTS TO WEAVE SUSTAINABILITY INTO THE FABRIC OF OUR ORGANIZATION. VALLEY ALSO RECEIVED THE GREENING THE OR RECOGNITION AWARD FOR THE STRIDES WE HAVE MADE IN IMPROVING ENVIRONMENTAL PERFORMANCE IN THE OPERATING ROOM. AT VALLEY, WE TAKE PRIDE IN THE STEPS WE HAVE TAKEN TO REDUCE OUR ENVIRONMENTAL FOOTPRINT, INCLUDING OUR SIGNING OF THE HEALTH CARE SECTOR CLIMATE PLEDGE; BETTER-THAN-AVERAGE RECYCLING RATES; AND THE USE OF SUSTAINABLE PAPER PRODUCTS. THESE AND OTHER EFFORTS WILL CONTINUE WHEN THE VALLEY HOSPITAL MOVES TO ITS NEW HOME IN PARAMUS NEXT YEAR. VALLEY HAS BEEN RECOGNIZED BY THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES FOR ITS COMMITMENTS TO EMISSIONS REDUCTION AND CLIMATE RESILIENCE. AS ONE OF 133 HEALTHCARE SIGNATORIES OF THE WHITE HOUSE/HHS HEALTH SECTOR CLIMATE PLEDGE, VALLEY LAST YEAR PLEDGED TO REDUCE OUR CARBON FOOTPRINT AND PROVIDE PLANS TO PREPARE OUR FACILITIES FOR THE IMPACTS OF CLIMATE CHANGE, WHICH HARMS MILLIONS OF PEOPLE IN THE UNITED STATES EVERY YEAR. VALLEY HAS LONG BEEN COMMITTED TO REDUCING OUR ENVIRONMENTAL FOOTPRINT. WE'VE SUCCEEDED IN DECREASING OUR SOLID MUNICIPAL WASTE NUMBERS FROM 1,433 TONS IN 2022 TO 1,315 TONS IN 2023. WE'VE ALSO ADDED MORE MATERIALS TO RECYCLING, INCLUDING EVERYTHING FROM BATTERIES TO LIGHT BULBS, COMPUTER EQUIPMENT, CARDBOARD, CONSTRUCTION DEBRIS, METAL, CARPETING, AND MEDICAL INSTRUMENTS. VALLEY'S REDUCTION IN THE NUMBER OF INSTRUMENTS IN THE SURGICAL INSTRUMENTATION TRAYS LED TO A REDUCTION IN THE AMOUNT OF WATER AND ENZYMATIC CLEANERS REQUIRED TO REPROCESS INSTRUMENTATION. THROUGH THE STRYKER SUSTAINABILITY PROGRAM, VALLEY HAS MITIGATED 1,476 TONS OF CO2, DIVERTED 3,051 LBS. OF WASTE, AND DONATED 78 TREES THROUGH PRODUCTS FOR THE PLANET. VALLEY PROVIDED LOCAL POLICE DEPARTMENTS WITH LIFE-SAVING TOURNIQUETS. VALLEY EMPLOYEES AND COMMUNITY MEMBERS HOSTED A DIAPER DRIVE FOR A LOCAL PARTNER. VALLEY PROVIDED $78,000 TO LOCAL ORGANIZATIONS TO IMPROVE ACCESS AND BUILD CAPACITY THROUGH GRANTS. AN ADDITIONAL $335,347 OF CASH AND IN-KIND DONATIONS WERE GIVEN TO COMMUNITY GROUPS AND LOCAL CHARITY EVENTS TO HOMELESSNESS, CANCER, FOOD INSECURITY, ACCESS TO CARE, MENTAL HEALTH, CHILDREN'S HEALTH, MATERNAL HEALTH, AND LGBTQ+ HEALTH. OUR EMPLOYEES COLLECTED ALMOST 2,000 BACKPACKS WITH SUPPLIES FOR UNITED WAY OF PASSAIC. VALLEY'S PARAMEDIC TEAM PROVIDED OVER 150 HOURS OF EDUCATION, INCLUDING TRAINING LOCAL, VOLUNTEER EMTS ON TOPICS SUCH AS STROKE, PRESCRIPTION MEDICATION IDENTIFICATION, AND THE USE OF NARCAN/ EPINEPHRINE AUTO INJECTOR TRAINING. OUR TEAM ALSO WORKS WITH SCHOOLS TO DISCUSS CAREERS AS PARAMEDICS AND TRAIN STUDENTS IN LIFE-SAVING SKILLS. THRIVE! EMPOWERS WOMEN OF ALL AGES TO TAKE CHARGE OF THEIR WELLNESS, IMPROVE THE HEALTH OF THEIR FAMILIES, AND SET ASIDE TIME FOR THEMSELVES TO HAVE A LITTLE FUN. THRIVE! MOMS HIT OVER 2,000 MEMBERS. IN 2023, THRIVE! HOSTED 20 HEALTH EDUCATION CLASSES, A WALKING GROUP WITH 76 MOMS, AND 11 FACEBOOK LIVE AND SOCIAL MEDIA EVENTS. OVER 500 PEOPLE JOINED VALLEY FOR BREASTFEEDING SUPPORT GROUPS AND CLASSES IN 2023. THE VALLEY HOSPITAL'S NEW GRADUATE NURSE RESIDENCY PROGRAM HAS BEEN AWARDED ACCREDITATION WITH DISTINCTION, THE HIGHEST RECOGNITION POSSIBLE, BY THE AMERICAN NURSES CREDENTIALING CENTER (ANCC)'S PRACTICE TRANSITION ACCREDITATION PROGRAM. THIS RECOGNITION IS AWARDED TO PROGRAMS THAT EXCEL IN OFFERING A COLLABORATIVE LEARNING ENVIRONMENT AND THE OPPORTUNITY TO WORK WITH EXPERIENCED STAFF IN REAL-LIFE SETTINGS. VALLEY'S PROGRAM BROUGHT IN 100 NEW RN RESIDENTS, STRENGTHENING THE PIPELINE TO MEET FUTURE PATIENT CARE NEEDS. VALLEY'S STAFF PARTICIPATE IN ONGOING TRAINING TO MAINTAIN AND ENHANCE COMPETENCIES. THE SIMULATION TEAM HELPS PREPARE HEALTHCARE PROFESSIONALS TO MANAGE HIGH-RISK, LOW FREQUENCY EMERGENCIES. AND THE ADDITION OF A NIGHT SHIFT PROFESSIONAL DEVELOPMENT TEAM WILL GIVE OVERNIGHT STAFF ACCESS TO THE SAME CLINICAL TRAINING OPPORTUNITIES. THE PATIENT AND FAMILY ADVISORY COUNCIL (PFAC) IS AN ACTIVE COMMITTEE AT VALLEY. THE PFAC PROVIDES A VITAL ROLE IN OFFERING INSIGHTS AND FEEDBACK FROM PATIENTS AND THEIR FAMILIES TO IMPROVE THE QUALITY OF CARE AND OVERALL PATIENT EXPERIENCE. THEY MEET REGULARLY TO DISCUSS AND ADDRESS VARIOUS ASPECTS OF PATIENT CARE, ENSURING THAT THE COMMUNITY'S VOICE IS HEARD AND CONSIDERED IN DECISION-MAKING PROCESSES. IN 2023, VALLEY HAD 827 VOLUNTEERS. FORM 990, PART III, LINE 4A FOR THE SECOND CONSECUTIVE YEAR, THE VALLEY HOSPITAL HAS BEEN NAMED ONE OF AMERICA'S 100 BEST HOSPITALS FOR 2024 BY HEALTHGRADES. THIS DISTINCTION PLACES VALLEY IN THE TOP 2% OF HOSPITALS NATIONWIDE. VALLEY IS ONE OF ONLY THREE HOSPITALS IN NEW JERSEY AND THE ONLY HOSPITAL IN BERGEN COUNTY TO EARN A SPOT ON THE LIST. THE VALLEY HOSPITAL HOLDS DISEASE-SPECIFIC CERTIFICATIONS FROM THE JOINT COMMISSION IN PERINATAL CARE, STROKE, TOTAL HIP REPLACEMENT, TOTAL KNEE REPLACEMENT, AND WOUND CARE. VALLEY RECEIVED THE AMERICAN HEART ASSOCIATION'S GET WITH THE GUIDELINES STROKE GOLD PLUS QUALITY ACHIEVEMENT AWARDED FOR ITS COMMITMENT TO ENSURING STROKE PATIENTS RECEIVE THE MOST APPROPRIATE TREATMENT ACCORDING TO NATIONAL RECOGNIZED, RESEARCH BASED GUIDELINES, ULTIMATELY LEADING TO MORE LIVES SAVE AND REDUCES DISABILITY. THE VALLEY HOSPITAL HAS BEEN NAMED ONE OF THE WORLD'S BEST HOSPITALS BY NEWSWEEK IN ITS WORLD'S BEST HOSPITALS 2024 LIST. THE RANKING RECOGNIZES THE BEST MEDICAL INSTITUTIONS ACROSS 30 COUNTRIES. VALLEY WAS RANKED AMONG THE TOP THREE HOSPITALS IN NEW JERSEY AND WAS RANKED 137TH IN THE COUNTRY FOR 2024. VALLEY RANKED AMONG THE BEST HOSPITALS IN NEW JERSEY BY U.S. NEWS & WORLD REPORT FOR 2023-24. RANKINGS ARE BASED ON PATIENT OUTCOMES, PATIENT EXPERIENCE, A VARIETY OF CARE-RELATED FACTORS, AND EXPERT OPINION OBTAINED THROUGH PHYSICIAN SURVEYS. FOR THE 21ST TIME, THE VALLEY HOSPITAL HAS BEEN RECOGNIZED WITH AN "A" FOR PATIENT SAFETY AS PART OF THE HOSPITAL SAFETY GRADE PROGRAM FROM THE LEAPFROG GROUP. THE VALLEY HOSPITAL HAS BEEN RECOGNIZED WITH THE 2023-2024 AMERICAN ASSOCIATION FOR RESPIRATORY CARE (AARC) APEX RECOGNITION AWARD FOR ITS CONTINUED BEST PRACTICES AND PROMOTION OF PATIENT SAFETY IN RESPIRATORY CARE. VALLEY'S RESPIRATORY THERAPY TEAM WAS ONE OF ONLY 29 RECIPIENTS ACROSS THE UNITED STATES FOR THIS YEAR'S RECOGNITION. THANKS TO THE VALLEY HOSPITAL AND OUR OTHER CORPORATE PARTNERS AND INDIVIDUAL DONOR'S GENEROSITY AND SUPPORT, WE COLLECTED ALMOST 2,000 FILLED BACKPACKS FOR TO THE UNITED WAY TO DISTRIBUTE TO PASSAIC COUNTY STUDENTS IN NEED! OUR WORK WITH THE UNITED WAY OF PASSAIC ALSO INCLUDES THE SUPPORT OF A LOCAL COMMUNITY GARDEN. EACH YEAR, VALLEY EMPLOYEES DONATE TO THE COLLECTION FOR OUR TROOPS. IN 2023, 23 PACKAGES, TOTALING ABOUT 340 POUNDS, WERE DELIVERED TO TROOPS OVERSEAS. VALLEY'S EMPLOYEES COLLECTED MORE THAN 400 BOXES OF CEREAL FOR A LOCAL FOOD PANTRY. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S SOLE MEMBER IS VALLEY HEALTH SYSTEM, INC. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S SOLE MEMBER HAS THE RIGHT TO NOMINATE, ELECT, AND REMOVE THE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING DECISIONS OF THE ORGANIZATION ARE RESERVED TO THE ORGANIZATION'S SOLE MEMBER: TO DETERMINE THE NUMBER OF TRUSTEES ON THE BOARD TO AMEND, REVISE OR RESTATE THE CORPORATION'S CERTIFICATE OF INCORPORATION AND BYLAWS, AND TO APPROVE ALL AMENDMENTS OR REVISIONS TO THE CORPORATION'S CERTIFICATE OF INCORPORATION AND BYLAWS THAT MAY BE PROPOSED OR APPROVED BY THE BOARD BEFORE THEY BECOME EFFECTIVE; TO ADOPT OR CHANGE THE MISSION, PURPOSE, PHILOSOPHY OR OBJECTIVES OF THE CORPORATION; TO CHANGE THE LEGAL STRUCTURE OF THE CORPORATION; TO COMMIT TO ADD OR THE ADDITION OF ANOTHER HOSPITAL OR HEALTH SYSTEM TO THE CORPORATION; TO DISSOLVE, DIVIDE, CONVERT OR LIQUIDATE THE CORPORATION, TO CONSOLIDATE OR MERGE THE CORPORATION WITH ANOTHER CORPORATION OR ENTITY, TO SELL ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION, TO CAUSE THE CORPORATION TO ACQUIRE SUBSTANTIALLY ALL OF THE ASSETS OF ANOTHER CORPORATION OR ENTITY, AND TO APPROVE ANY OF THE FOREGOING ACTIONS THAT ARE RECOMMENDED BY THE BOARD BEFORE SUCH ACTION BECOMES EFFECTIVE; TO APPROVE THE ANNUAL CAPITAL AND OPERATING BUDGETS OF THE CORPORATION AND ANY AMENDMENTS THERETO; TO INITIATE AND TO APPROVE THE INCURRENCE OF DEBT BY THE CORPORATION OR TO IMPLEMENT ANY FINANCING STRATEGY, INCLUDING WITHOUT LIMITATION IN CONNECTION WITH ANY DEBT ISSUANCE, CAPITAL OR OPERATING LEASING TRANSACTIONS, AND TAXABLE AND NONTAXABLE FINANCINGS; TO APPROVE THE INCURRENCE OF DEBT BY THE CORPORATION IN EXCESS OF THOSE THRESHOLDS ESTABLISHED BY THE BOARD, IF SUCH INCURRENCE OF DEBT IS NOT INCLUDED IN THE CORPORATION'S APPROVED BUDGETS, WHETHER IN A SINGLE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS; TO CAUSE OR DIRECT THE CORPORATION TO PAY, LOAN OR OTHERWISE TRANSFER SUCH FUNDS AS ARE NECESSARY TO PAY ANY OUTSTANDING INDEBTEDNESS OBLIGATIONS, INCLUDING BUT NOT LIMITED TO BORROWINGS, GUARANTIES, NON-RECOURSE INDEBTEDNESS, LEASES, AND DERIVATIVE INSTRUMENTS, CREATED OR APPROVED BY THE CORPORATION; TO EXERCISE SUCH OVERSIGHT, INCLUDING INITIATING ACTION OR APPROVING ACTION BY THE CORPORATION, OVER THE MANAGEMENT, POLICIES, DISPOSITION OR ENCUMBRANCE OF ASSETS, INCLUDING REAL OR PERSONAL PROPERTY, OF THE CORPORATION TO CAUSE OR ENSURE COMPLIANCE WITH TERMS AND CONDITIONS OF INDEBTEDNESS OBLIGATIONS AND FINANCIAL RELATIONSHIPS RELATED IN ANY MANNER TO SUCH INDEBTEDNESS; TO APPROVE THE CAPITAL EXPENDITURES BY THE CORPORATION IN EXCESS OF THOSE THRESHOLDS ESTABLISHED BY THE BOARD, IF SUCH CAPITAL EXPENDITURES ARE NOT INCLUDED IN THE CORPORATION'S APPROVED BUDGETS, WHETHER IN A SINGLE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS; TO APPROVE ANY DONATION OR ANY OTHER TRANSFER OF THE CORPORATION'S ASSETS, OTHER THAN TO AN AFFILIATED ENTITY, IN EXCESS OF AN AMOUNT EQUAL TO OR GREATER THAN THE THRESHOLDS ESTABLISHED BY THE BOARD FOR SUCH CORPORATION, UNLESS SPECIFICALLY AUTHORIZED IN THE CORPORATION'S APPROVED BUDGETS; TO SELECT AND APPOINT AUDITORS OF THE CORPORATION; TO INITIATE AND APPROVE STRATEGIC PLANS AND MISSION STATEMENTS OF THE CORPORATION; TO INITIATE AND APPROVE INVESTMENT POLICIES AND CAPITAL CAMPAIGNS OF THE CORPORATION; TO INITIATE AND APPROVE THE CLOSURE OR RELOCATION OF A LICENSED HEALTH CARE FACILITY OF THE CORPORATION; TO INITIATE AND APPROVE THE FORMATION OF SUBSIDIARIES OF THE CORPORATION; TO APPROVE THE CORPORATION'S ACQUISITION OF CONTROLLING INTERESTS IN ORGANIZATIONS OR BUSINESSES OUTSIDE OF THE CORPORATION'S APPROVED STRATEGIC PLAN; TO THE EXTENT NOT EXPRESSLY SET FORTH ABOVE, TO DIRECT OR REQUIRE THE CORPORATION TO TAKE ANY OTHER LAWFUL ACTS OR ACTIONS WITH RESPECT TO THE CORPORATION'S BUSINESS, AFFAIRS, MANAGEMENT, PROPERTIES OR ACTIVITIES THAT THE SOLE MEMBER MAY DIRECT. FORM 990, PART VI, SECTION B, LINE 11B THE VALLEY HOSPITAL HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 IS PREPARED, IT IS SUBMITTED TO MANAGEMENT AND THE AUDIT COMMITTEE FOR REVIEW. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED BY THE AUDIT COMMITTEE FOR FILING WITH THE INTERNAL REVENUE SERVICE. BEFORE FILING, THE FORM 990 IS MADE AVAILABLE FOR THE BOARD'S REVIEW, BY HARD COPY AND OR ELECTRONIC COPY. FORM 990, PART VI, SECTION B, LINE 12C THE VALLEY HEALTH SYSTEM HAS A CONFLICT OF INTEREST POLICY WHICH COVERS ALL CONTROLLED ORGANIZATIONS WITHIN THE HEALTH SYSTEM, INCLUDING THIS ORGANIZATION. THE POLICY REQUIRES ALL TRUSTEES, OFFICERS, AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS, TO ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT, DISCLOSING ANY POTENTIAL CONFLICTS WHICH MAY EXIST. SUCH PERSONS ARE ALSO REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS AS THEY ARISE. CONFLICTS ARE DETERMINED BY THE BOARD OF TRUSTEES OR DELEGATED COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. PERSONS WITH CONFLICTS OF INTEREST MUST NOT PARTICIPATE IN THE DISCUSSION OR VOTE ON THE RELATED MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD IS A SHARED BOARD WITH THE VALLEY HEALTH SYSTEM. THE VALLEY HEALTH SYSTEM HAS DEVELOPED A COMPENSATION PLAN WHICH GOVERNS THE COMPENSATION FOR ALL EXECUTIVES, INCLUDING THE CEO AND VICE PRESIDENTS OF THE ORGANIZATION. THE PLAN WAS DEVELOPED IN CONJUNCTION WITH A CONSULTING FIRM, REVIEWED BY THE PHYSICIAN LEADERSHIP COUNCIL AND APPROVED BY THE BOARD OF TRUSTEES AND THE VALLEY HEALTH SYSTEM PHYSICIAN COMPENSATION COMMITTEE. ON AN ANNUAL BASIS, THE PLAN IS REVIEWED AND UPDATED AS NEEDED.THIS PROCESS WAS LAST UNDERTAKEN IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE HOSPITAL MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING OF THE RETURN ON GUIDESTAR.ORG AND SIMILAR TYPES OF WEBSITES. IN ADDITION FORM 990 AS WELL AS THE FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AND OTHER RELEVENT DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN ASSETS HELD BY RELATED ORG 52,803. NET ASSETS RELEASED FOR OPERATING PURPOSES -3,886,210. 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