Executive Compensation at Virtua Health (2024)

Virtua Health is a tax-exempt, non-profit healthcare provider in southern New Jersey with 5 hospitals, 40 ambulatory surgery centers,  and more than 400 healthcare offices.  The entire Virtua healthcare network consists of 13 related tax-exempt organizations, 36 related taxable partnerships, and 3 related organizations taxable as a corporation or trust. This post addresses the executive compensation of Virtua Health, Inc (Virtua) – the non-profit that manages the entire organization and provides support services to these entities.  Consequently, Virtua’s primary source of revenue is the organizations that make up the network who pay into Virtua.

Virtua has 17 voting members (trustees) of its governing body, 16 of whom are independent; 12 of the 17 (71%) are male while 5 of the 17 (29%) are female.

Key information about Virtua includes the following:

• Total revenue was $620 million in 2024, most of which came from providing support services ($608 million) to related organizations;
• Total expenses were $618 million in 2023, the largest expenses reported to be compensation ($408 million) and office related expenses ($112 million);
• Net assets are -$387 million, which appears to be because of changes in assets (primarily asset transfers) made through the years.

2,541 employees received $408 million in compensation in 2024, an average of $161,000. However, only 604 employees received more than $100,000 in compensation with the 9 most highly compensated reported to be:

• $3,320,959:  Dennis W Pullin, Presdient/CEO
• $1,754,395:  John M Matsinger, EVP, COO
• $1,406,709:  Robert M Segin, Treasurer- EVP/CFO
• $1,227,707:  Reginald J Blaber, EVP, CCO (end 12/24)
• $1,088,524:  Stephanie Fendrick, EVP and Chief Strategy Officer
• $1,001,614:  Rhonda R Sheppard-Jordan, EVP, CHRO
• $1,000,281:  Lauren Rowinski, Secretary – SVP and General
• $  859,920:  Jennifer Khelil, SVP/CMO
• $  795,556:  Thomas Gordon, SVP/CIO

The 9 most highly compensated employees received nearly $13 million in 2024.

To read about “Loans To and From Interested Persons,” which addresses the supplemental retirement program and reporting reasons, see the Form 990, Schedule L, Part II and V.

To read the Form 990 (2024), click here.