Lundberg Association

What it reported doing in 2024

See schedule o.at providence, we use our voice to advocate for vulnerable populations and needed reforms in health care. We are also pursuing innovative ways to transform health care by keeping people healthy, and making our services more convenient, accessible and affordable for all. In an increasingly uncertain world, we are committed to high-quality, compassionate health care for everyone - regardless of coverage or ability to pay. We help people and communities benefit from the best health care model for the future - today.together, our 125,000 caregivers (all employees) serve in 51 hospitals, 1,014 clinics and a comprehensive range of health and social services across Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. The providence affiliate family includes:-providence across five western states-covenant health in west Texas and New Mexico-facey medical group in los angeles, ca-kadlec in southeast Washington-pacific medical centers in seattle, wa-swedish health services in seattle, wa in 2024, providence ministries and affiliates provided $1.9 billion in community benefit programs. This includes free and discounted care, uncompensated and subsidized care, and other community health activities.one of these vital programs, medicaid, is a lifeline for millions of individuals, including seniors, children, pregnant patients, those with disabilities and veterans. We are grateful to everyone in our communities who has joined us in advocating for continued funding and expansion of this program. Together, we are helping to ensure more people have access to needed care.for more information go to: https://www.providence.org/about/annual-report through our community benefit programs, we focus on meeting the diverse needs of the people we serve by working to ensure basic health needs are met, removing barriers to care, building community resilience and innovating for the future. Providence continues to work towards carbon negative and in 2024 decreased emissions by 19 percent compared to our 2019 baseline. Our efforts earned us a system record 55 environmental excellence awards from practice greenhealth and made us the first large system to receive the joint commission's sustainable healthcare certification in 2024 for each of our hospitals.program service accomplishmentsprovide subsidized housing with one-bedroom apartments designed to meet the needs of low income elderly persons aged 62 and older.overviewlundberg association dba providence house portland is a high-quality, supportive housing program sponsored, owned and managed by providence health & services. Designed and built especially for low-income, aging seniors, this non-smoking building features private apartments with all the comforts of home. Each apartment includes full kitchen amenities with a dining area, a private bathroom with tub or walk-in shower, built-in storage and an open floor plan. Shared laundry facilities and welcoming community spaces are available to all residents.located in the mount tabor neighborhood of portland, providence house portland is close to local stores, restaurants, churches, social activities and providence medical center. Nearby public transportation provides easy access to other parts of the city, and van transportation is provided to residents who wish to visit local stores.providence places a high value in supporting individual residents and creating a vibrant community by providing a shared computer lab with internet access, gathering spaces for resident groups, and a wide variety of scheduled activities including educational and recreational programming. A service coordinator helps residents identify and access local resources and services, and advocates for residents who require assistance.providence house portland receives an operating subsidy from the united states department of housing and urban development (hud). Hud requirements state that applicants for housing at providence house must be at least 62 years

Financial Efficiency

• Mission deployment rate: 91.1%; rating input score 91
• Program expense ratio: 87.5%; rating input score 87
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 26th 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: 100%; rating input score 100; 63rd 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: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -5%; rating input score 29; 29th percentile among comparable filings
• Total-asset coverage ratio: 3.94; rating input score 75; 75th percentile among comparable filings
• Liabilities to assets ratio: 0.25; rating input score 17; 17th percentile among comparable filings
• Officer compensation ratio: 225.5%; rating input score 0; 0th percentile among comparable filings

Growth

• Program expense growth: 3.3% per year; rating input score 100; 46th percentile among comparable filings
• Revenue growth: 0.8% per year; rating input score 100; 28th percentile among comparable filings
• Asset growth: 1.5% per year; rating input score 100; 31st percentile among comparable filings