Open Door Ventures

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 comfortable and spacious apartments designed to meet the needs of low income persons with disabilities.overviewprovidence took over management and sponsorship of cal anderson house (open door ventures) july 2021 to provide residents with a high-quality, affordable place to call home for low-income households with a member who is 18 years of age or older with a verifiable disability. Household income must be at or below hud's financial criteria for receiving rental assistance, which is 50% of the area median income for king county, wa.in addition to providing residents with an affordable place to call home, we offer contracted services coordination to help our residents identify and access community resources.cal anderson house boasts five-story, controlled-access building with an elevator and plenty of parking on capitol hill. The building offers comfortable and spacious 1 bedroom apartments. Each apartment includes full kitchens/kitchenettes, and private bathroom with a tub or walk-in/roll-in shower, complete with grab bars, built-in storage and open living spaces. On-site laundry facility, computer with internet access, indoor mailboxes and welcoming community spaces including a social room and outdoor patios are just a few more of the amenities provided.the building was originally constructed in 1995 commemorating cal anderson.cal anderson house provides equal housing opportunities for all prospective tenants regardless of race, color, national origin, religion, sex, disability, parental/family status, marital status, age, ancestry, sexual orientation, creed, political ideology, gender identity or membership in

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 93.4%; rating input score 93
• 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: -12.7%; rating input score 20; 20th percentile among comparable filings
• Total-asset coverage ratio: 3.21; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 0.85; rating input score 6; 6th percentile among comparable filings
• Officer compensation ratio: 219.9%; rating input score 0; 0th percentile among comparable filings

Growth

• Program expense growth: 3.4% per year; rating input score 100; 46th percentile among comparable filings
• Revenue growth: 5% per year; rating input score 100; 53rd percentile among comparable filings
• Asset growth: 0.1% per year; rating input score 100; 25th percentile among comparable filings