Seattle Children's

What it reported doing in 2023

Patient care: seattle children's provides superior medical care to children from Washington, Alaska, Montana and Idaho, serving the largest geographical area of any children's hospital in the united states. In addition, families living beyond our primary service region increasingly seek care from our world-renowned specialists in programs such as cancer, organ transplants and craniofacial specialties. In fiscal year 2024, seattle children's medical team treated kids of all ages during 513,604 patient visits, including 373,775 other ambulatory clinic appointments, 57,155 visits to our emergency department, and 63,637 visits to urgent care. We cared for children during 17,559 admissions to the hospital and 1,478 day surgeries. As the primary pediatric hospital offering high-level specialty care in our region, in response to the covid-19 pandemic, we set up testing sites, held vaccine clinics, expanded telemedicine offerings, and created an emergency command center. Seattle children's received $17.8 million in federal emergency management agency (fema) funds in fiscal year 2024 related to reimbursement of costs incurred in prior years to respond to the pandemic.

Financial Efficiency

• Mission deployment rate: 90.4%; rating input score 90
• Program expense ratio: 98.3%; rating input score 98
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 3 of 8 controls in place; rating input score 38
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Pass
  • Conducts site visits: Fail
  • Requires grant agreements: Pass
  • May require repayment: Fail
• Grant itemization coverage: 99.7%; rating input score 100; 44th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 78th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 9.8%; rating input score 75; 75th percentile among comparable filings
• Total-asset coverage ratio: 2.33; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 0.36; rating input score 51; 51st percentile among comparable filings
• Officer compensation ratio: 0.6%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 9.5% per year; rating input score 100; 72nd percentile among comparable filings
• Revenue growth: 8% per year; rating input score 100; 68th percentile among comparable filings
• Asset growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings