Providence

What it reported doing in 2024

See schedule oat 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. 2024 program service accomplishments covenant health lubbock hospitalscovenant medical center, grace surgical hospital, covenant children's hospital and covenant specialty hospital work collaboratively through a centralized/shared service community benefit/community health investment department to meet the needs identified in the chna. The lubbock based facilities are referred to collectively as covenant health lubbock hospitals and all serve the same geographic service area of west Texas and eastern New Mexico. Additionally, due to overlapping service areas, close geographic proximity to one another, and shared community benefit outreach programs, the covenant health lubbock hospitals worked with covenant health plainview, covenant health levelland and covenant hobbs hospital to develop a regional approach to many of their chip's. While there are some differences in select strategies and community partners, covenant medical center, covenant children's, grace surgical hospital, covenant specialty hospital, covenant health plainview, covenant hobbs hospital, and covenant health levelland share many similar outreach strategies, which allows for more effectively leveraging investments in the region to meet community needs. Covenant health has a rich history in the Texas/New Mexico region. While health care in our region has changed over the years, our commitment to fulfilling our mission, vision, values and promise have not waivered. Below we highlight three priority area accomplishments across covenant health lubbock hospitals: mental/relational health and substance misusemental, behavioral health treatment, and substance misuse intervention, and prevention services for

Financial Efficiency

• Mission deployment rate: 77.9%; rating input score 78
• Program expense ratio: 97.8%; rating input score 98
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th 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: Yes; rating input score 100

Accountability

• Independent voting board: 72.7%; rating input score 73; 22nd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • 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: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 21.1%; rating input score 88; 88th percentile among comparable filings
• Total-asset coverage ratio: 1.75; rating input score 59; 59th percentile among comparable filings
• Liabilities to assets ratio: 0.06; rating input score 88; 88th percentile among comparable filings
• Officer compensation ratio: 0.7%; rating input score 80; 80th percentile among comparable filings

Growth

• Program expense growth: 15.4% per year; rating input score 100; 87th percentile among comparable filings
• Revenue growth: 14.3% per year; rating input score 100; 88th percentile among comparable filings
• Asset growth: 18.3% per year; rating input score 100; 91st percentile among comparable filings