Chvi Professional Corporation

Nonprofit profile at a glance

EIN
475457904
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Tacoma, WA, USA
Phone
2534031000
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$97,425,078
Expenses
$91,653,747
Assets
$48,375,999
Liabilities
$51,734,238

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • HUNT WADE (PRESIDENT,PHI)

Highest reported compensation

  • PETER CHENMD (PHYSICIAN): $1,717,370 total reported compensation
  • NATHAN E SPENCEMD (PHYSICIAN): $1,557,184 total reported compensation
  • DAVID O'BRIENMD (BOARD MEMBER, SRVP MHS): $1,507,873 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Chvi's mission is together, give people their best life.

What it reported doing in 2024

Chvi d/b/a pulse heart institute (chvi) is a highly specialized tax exempt healthcare entity that employs board certified cardiologists, cardiothoracic surgeons and vascular surgeons to perform advanced cardiothoracic surgeries, cardiac research and education. Chvi is the most recent innovation in care delivery from cardiac study center and multicare health system, a related tax exempt organization. Chvi is the pacific northwest's destination for heart health, offering a comprehensive range of the most advanced cardiac, thoracic, and vascular services available. Chvi connects emergency, clinic, hospital and therapy services to enhance communication and continuity. The ethos of the organization is one of partnership and inspiration. Chvi's physicians are at the top of their field and actively (see schedule o) seek to stay on the cutting edge of cardiovascular medicine.

Operating model

Revenue model
Affiliate-supported. 96% of the money available for current operations came from contributions from related organizations.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 64
  • Accountability: 32
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.9%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 1.07; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 19.9%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 16.3% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 17% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 43.5% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 99.8% of spending went to programs
  • Governance: 0 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $91.5M in reported program spending
  • Leadership: top reported pay $1.7M · 17 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $1.7M reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 7 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 18 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.