Multicare Health System

Nonprofit profile at a glance

EIN
911352172
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Tacoma, WA, USA
Phone
2534598141
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$5,011,395,222
Expenses
$5,018,628,005
Assets
$6,311,318,297
Liabilities
$3,310,198,143

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

Leadership & pay

26 people listed

Executive titles in this filing

  • WILLIAM ROBERTSON (CEO)
  • FLORENCE CHANG (PRESIDENT)

Highest reported compensation

  • WILLIAM ROBERTSON (CEO): $8,673,258 total reported compensation
  • FLORENCE CHANG (PRESIDENT): $4,965,425 total reported compensation
  • LEE SANDQUIST MD (PHYSICIAN): $2,285,965 total reported compensation

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

Overview

Mission

Multicare health system's mission is partnering for healing and a healthy future.

What it reported doing in 2024

Multicare health system operates other programs such as population health, behavioral health, home health services, hospice, adult day health, cancer institute, medical academics and many other. During 2024 the home health and hospice programs provided 114,173 clinic visits, 48,359 home health visits, and admitted 3,177 patients and 1,506 patients, respectively. Multicare behavioral health services (bhs) offers a full range of services and an integrated approach to wellness. Bhs admitted 581 patients for a total of 24,646 patient days and 715 pharmacy workload units. Pacific northwest (pnw) pace partners provides innovative care for seniors, it provides an alternative model of care that aims to support the health, safety and independence of vulnerable seniors while reducing the burden for family caregivers (see sch o).multicare hospice and pnw hospice are multicare's lines of healthcare for individuals who are entering the last phases of any terminal illness, including cancer, AIDS, alzheimer's and related dementia illnesses, heart failure, copd, end-stage diabetes, etc. Hospice care is not designed for curative treatment for illness, but rather to provide care and support to help individuals manage their pain and other symptoms.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 83.1%; rating input score 83
  • 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: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th 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; 77th 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: -0.1%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 10.5% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 83.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4.2B in reported program spending
  • Leadership: top reported pay $8.7M · 26 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $247.3M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 76 filed money-flow records
  • Related organizations: 94 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 26/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.