2025-11-13T11:32:08-06:00 2024-12-31 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2024-01-01 222922016 VALLEY HEALTH SYSTEM INC VALL 2012916200 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 WILLIAM KLUTKOWSKI SENIOR VP OF FINANCE & CFO 2012916200 2025-11-13 1 0 GARRETT M HIGGINS P00543209 2017129800 2025-11-13 2024 2025-03-06 01:10:19Z X ROBERT BRENNER 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 126857689 0 X WWW.VALLEYHEALTH.COM X 1988 NJ TO PROVIDE MANAGEMENT AND PLANNING SERVICES FOR THE ENTITIES OF THE VALLEY HEALTH SYSTEM. 19 18 527 18 0 0 339362 344547 116981170 126513081 66 61 11194423 0 128515021 126857689 0 0 0 0 68896241 74249552 0 0 0 60665229 62450440 129561470 136699992 -1046449 -9842303 32780884 49538141 29243571 48455823 3537313 1082318 X VALLEY HEALTH SYSTEM IS A FULL SERVICE HEALTHCARE SYSTEM SERVING THE RESIDENTS OF NORTHERN NEW JERSEY. IT COMPRISES THE MANY PROGRAMS AND SERVICES OF THE VALLEY HOSPITAL, A FULL SERVICE HOME CARE AGENCY, VALLEY HOME CARE, AND COMMUNITY-BASED PRIMARY AND URGENT CARE CENTERS, VALLEY HEALTH MEDICAL GROUPS, THAT BRING QUALITY HEALTHCARE TO MANY COMMUNITIES OF BERGEN COUNTY. 0 0 136699992 0 126513081 THE ORGANIZATION PROVIDED MANAGEMENT AND PLANNING SERVICES TO ITS SUBSIDIARIES AND AFFILIATES OF THE VALLEY HEALTH SYSTEM. 136699992 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 148 0 527 1 0 0 0 0 0 0 0 0 0 0 1 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X WILLIAM KLUTKOWSKI 2012916200 223 NORTH VAN DIEN AVE RIDGEWOOD NJ 07450 AUDREY MEYERS PRESIDENT & CEO, VHS THRU JUNE 2024 18.00 22.00 X X 6593387 0 54469 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 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 RN TRUSTEE 0.10 0.50 X 0 0 0 BRUCE MACTAS TRUSTEE 0.10 0.50 X 0 0 0 MICHAEL MCGUIRE 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 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 TIMOTHY WENTWORTH TRUSTEE 0.10 0.50 X 0 0 0 ROBERT W BRENNER PRESIDENT & CEO, VHS EFF. JULY 2024 13.50 26.50 X 1878651 0 31214 WILLIAM KLUTKOWSKI SR. VP, FINANCE & CFO 19.50 20.50 X 1252548 0 53234 KARTEEK BHAVSAR SR. VP & COO 20.00 20.00 X 1177040 0 29075 JOSE BALDERRAMA SR VP, HUMAN RESOURCES 40.00 0.00 X 797304 0 32708 JULIA N KARCHER SR. VP, VHS/VMG 5.00 35.00 X 876302 0 45403 EPHRAIM CASPER CMO CMO, COMPREHENSIVE CANCER CARE 39.50 0.50 X 1090002 0 47422 ROBIN HOLLANDER SENIOR VP SR. VP LEGAL SERVICES/ GENERAL COUNSEL 40.00 0.00 X 1222539 0 58367 ERIC CAREY VP/CIO, INFORMATION SYSTEMS 40.00 0.00 X 867403 0 62509 JOSEPH LORINO VP, FACILITIES MANAGEMENT 40.00 0.00 X 649656 0 39428 NISHA SIKDER VP, PAYER STRATEGIES 40.00 0.00 X 591136 0 49405 GAIL CALLANDRILLO FORMER KEY EMPLOYEE 0.00 0.00 X 696170 0 0 17692138 0 503234 217 1 1 0 SPM MARKETING & COMMUNICATIONS LLC 15 W HARRIS AVENUE STE 300 LA GRANGE IL 60525 MARKETING SVCS. 2778898 MICROSOFT LICENSING GP 120 PARK AVE NEW YORK NY 10017 SOFTWARE LICENSING SERVICES 2666955 DISPATCHHEALTH MANAGEMENT LLC 3825 N LAFAYETTE STREET DENVER CO 80205 MEDICAL SERVICES 1579338 MEDICAL INFORMATION TECHNOLOGY INC 1 MEDITECH CIRCLE WESTWOOD MA 02090 MEDICAL IT SERVICES 1377476 SHI INTERNATIONAL CORP 290 DAVIDSON AVE SOMERSET NJ 08873 IT PRODUCTS AND SERVICES 1340098 76 344547 344547 MANAGEMENT/PLANNING SERVICES 900099 114174867 114174867 INCENTIVE PROGRAM FEES 900099 12338214 12338214 126513081 61 61 126857689 126513081 0 61 X 12821334 12821334 696170 696170 47376297 47376297 2659514 2659514 6318946 6318946 4377291 4377291 1807572 1807572 70132 70132 20194728 20194728 6576247 6576247 973933 973933 1796162 1796162 77313 77313 127757 127757 1512196 1512196 ALLOCATED OTHER EXPENSE 23321329 23321329 LICENSES & ASSESSMENTS 5193561 5193561 DUES & SUBSCRIPTIONS 799510 799510 136699992 136699992 0 0 2646921 10746980 602180 0 678820 117004 11040975 13474861 17811988 25199296 32780884 49538141 19635396 31153448 9608175 17302375 29243571 48455823 X 3537313 1082318 3537313 1082318 32780884 49538141 X -9842303 7387308 X X 0 1 X 1 0 X 339362 344547 683909 80959432 101741635 102672075 116981170 126513081 528867393 80959432 101741635 102672075 117320532 126857628 529551302 0 0 0 529551302 387142 368445 483803 66 61 1239517 387142 368445 483803 66 61 1239517 81346574 102110080 103155878 117320598 126857689 530790819 0.99770 0.97280 0.00230 0.00450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENT IN CAPTIVE 25199296 C 25199296 ESTIMATED PROFESSIONAL LIABILITY 9645886 DUE FROM VALLEY HOSPITAL 7494224 DUE FROM VALLEY HOME CARE 162265 17302375 X 147101534 20243845 20243845 126857689 0 126857689 149556529 12856537 12856537 136699992 0 136699992 PART X, LINE 2: THE COMPANY AND ITS SUBSIDIARY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANY AND ITS SUBSIDIARY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION AND/OR DISCLOSURE. THE COMPANY IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS FOR PERIODS PRIOR TO DECEMBER 31, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE ATTRIBUTABLE TO AFFILIATE 20,243,845. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ATTRIBUTABLE TO AFFILIATE 12,856,537. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT IN CAPTIVE INSURANCE SUBSIDIARY 25187295 0 0 0 0 0 0 25187295 0 25187295 1 0 1 0 0 0 SCHEDULE F, PART IV, LINE 1: THE ORGANIZATION TRANSFERRED $9,000,000 TO VHS INSURANCE COMPANY, LTD., A FOREIGN CORPORATION, DURING THE TAX YEAR AND IS REQUIRED TO FILE FORM 926, RETURN BY A U.S. TRANSFEROR OF PROPERTY TO A FOREIGN CORPORATION. SCHEDULE F, PART IV, LINE 3: THE ORGANIZATION HAD AN OWNERSHIP INTEREST IN VHS INSURANCE COMPANY, LTD., A FOREIGN CORPORATION, DURING THE TAX YEAR REQUIRED TO FILE FORM 5471, INFORMATION RETURN OF U.S. PERSONS WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS. X X X X 0 1 0 0 0 0 0 1 0 AUDREY MEYERS PRESIDENT & CEO, VHS THRU JUNE 2024 1414852 0 1167040 0 4011495 0 25875 0 28594 0 6647856 0 3954895 0 ROBERT W BRENNER PRESIDENT & CEO, VHS EFF. JULY 2024 1277532 0 443100 0 158019 0 15525 0 15689 0 1909865 0 0 0 WILLIAM KLUTKOWSKI SR. VP, FINANCE & CFO 830046 0 309631 0 112871 0 24150 0 29084 0 1305782 0 0 0 ROBIN HOLLANDER SENIOR VP SR. VP LEGAL SERVICES/ GENERAL COUNS 631228 0 348738 0 242573 0 25875 0 32492 0 1280906 0 174226 0 KARTEEK BHAVSAR SR. VP & COO 794877 0 334460 0 47703 0 25875 0 3200 0 1206115 0 0 0 EPHRAIM CASPER CMO CMO, COMPREHENSIVE CANCER CARE 878184 0 153474 0 58344 0 15850 0 31572 0 1137424 0 0 0 ERIC CAREY VP/CIO, INFORMATION SYSTEMS 574715 0 228200 0 64488 0 26548 0 35961 0 929912 0 0 0 JULIA N KARCHER SR. VP, VHS/VMG 604494 0 199150 0 72658 0 22012 0 23391 0 921705 0 0 0 JOSE BALDERRAMA SR VP, HUMAN RESOURCES 526051 0 214830 0 56423 0 18975 0 13733 0 830012 0 0 0 GAIL CALLANDRILLO FORMER KEY EMPLOYEE 0 0 0 0 696170 0 0 0 0 0 696170 0 696170 0 JOSEPH LORINO VP, FACILITIES MANAGEMENT 390498 0 200000 0 59158 0 17250 0 22178 0 689084 0 0 0 NISHA SIKDER VP, PAYER STRATEGIES 455941 0 121485 0 13710 0 13225 0 36180 0 640541 0 0 0 PART I, LINE 3 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, GAIL CALLANDRILLO AND ROBIN HOLLANDER PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. THE AMOUNT REFLECTED ON SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDE A PAYMENT FROM A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. THE AMOUNTS OUTLINED HEREIN WERE INCLUDED IN THEIR 2024 FORM W-2, BOX 5 AS TAXABLE MEDICARE WAGES: AUDREY MEYERS, $3,954,895; GAIL CALLANDRILLO, $696,170; ROBIN HOLLANDER, $174,226. AUDREY MEYERS AND ROBIN GOLDFISCHER-HOLLANDER PARTICIPATED IN A CAP-EX (SPLIT-DOLLAR LIFE INSURANCE PLAN). THEY DID NOT RECEIVE A PAYMENT DURING 2024. PART I, LINE 7 EMPLOYEES OF THE ORGANIZATION RECEIVED A BOARD-APPROVED DISCRETIONARY BONUS, AWARDED BASED ON PERFORMANCE, AS REPORTED FOR THEM IN PART II, COLUMN B(II). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. IT IS REVIEWED BY MANAGEMENT AND THE AUDIT COMMITTEE OF VALLEY HEALTH SYSTEM. A COMPLETE COPY OF THE FORM 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE ORGANIZATION'S GOVERNING BODY PRIOR TO FILING. 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 HAS ESTABLISHED A POLICY FOR COMPENSATION OF ITS OFFICERS AND TOP MANAGEMENT. THE POLICY MANDATES THAT COMPENSATION FOR ITS OFFICERS AND TOP MANAGEMENT, BE ANNUALLY REVIEWED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES FREE OF ANY MEMBERS WITH CONFLICTS OF INTEREST RELATED THERETO. THE COMMITTEE DETERMINES THAT THE EXECUTIVES ARE BEING PAID AN APPROPRIATE LEVEL OF COMPENSATION BY USING COMPARATIVE DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. COMPENSATION DECISION ON THE AMOUNT OF COMPENSATION PAID AND TERM IS ADEQUATELY DOCUMENTED IN A CONTEMPORANEOUSLY WRITTEN FORMAT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OUTSIDE SERVICE FEES: PROGRAM SERVICE EXPENSES 1,620,639. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,620,639. MAINTENANCE CONTRACTS: PROGRAM SERVICE EXPENSES 15,599,752. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,599,752. TEMPORARY HELP: PROGRAM SERVICE EXPENSES 485,725. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 485,725. CONSULTING: PROGRAM SERVICE EXPENSES 2,488,612. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,488,612. FORM 990, PART XI, LINE 9: EQUITY IN CAPTIVE 7,387,308. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. COLIGOCARE LLC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 CLINICALLY INTERGRATED NETWORK NJ 12682761 9546059 VALLEY HEALTH SYSTEM INC THE VALLEY HOSPITAL FOUNDATION INC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 222324554 SOLICITS AND RECEIVES CONTRIBUTIONS FOR THE BENEFIT OF HEALTH SYSTEM NJ 501(C)(3) LINE 7 VALLEY HEALTH SYSTEM INC 1 THE VALLEY HOSPITAL INC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 221487307 PROVIDE HEALTHCARE PROGRAMS AND SERVICES TO ALL NJ 501(C)(3) LINE 3 VALLEY HEALTH SYSTEM INC 1 VALLEY HOME CARE INC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 223208480 PROVIDE HOME CARE AND HOSPICE SERVICES TO RESIDENTS OF NORTHERN NJ NJ 501(C)(3) LINE 10 VALLEY HEALTH SYSTEM INC 1 VALLEY PHYSICIAN SERVICE NY PC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 453125678 OPERATES URGENT/PRIMARY CARE CLINICS NY 501(C)(3) LINE 10 VALLEY PHYSICIAN SERVICES INC 0 VALLEY PHYSICIAN SERVICES INC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 320041186 PROVIDES MANAGEMENT AND VARIED CONSULTING SERVICES NJ 501(C)(3) LINE 10 THE VALLEY HOSPITAL INC 0 VALLEY PHYSICIANS SERVICES PC 4 VALLEY HEALTH PLAZA PARAMUS NJ 07652 465285330 PROVIDE PRIMARY AND SPECIALTY MEDICAL CARE NJ 501(C)(3) LINE 10 VALLEY PHYSICIAN SERVICES INC 0 VHS INSURANCE COMPANY LTD 010 MAIN STREET CAYMAN ISLANDS CJ 980408200 CAPTIVE INSURANCE COMPANY CJ VALLEY HEALTH SYSTEM INC C 7387308 50623860 1.00000 1 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 THE VALLEY HOSPITAL O 61224670 COST VALLEY HOME CARE Q 7408872 COST THE VALLEY HOSPITAL S 106400000 COST VHS INSURANCE COMPANY LTD B 9000000 COST THE VALLEY HOSPITAL C 344547 COST