Providence Alaska Foundation

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 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 117,000 caregivers (all employees) serve in 51 hospitals, 1,000 clinics and a comprehensive range of health and social services across Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. The providence family includes:-providence across seven western states-covenant health in west Texas-providence facey medical foundation 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. Realizing our mission: to support the overall mission of providence, providence Alaska foundation's specific vision is to be an active philanthropic partner funding innovative, sustainable, and collaborative advancements in health initiatives in the communities we serve. This activity is done through philanthropic efforts with our community partners. In 2023, gifts to the providence Alaska foundation funded vital programs and equipment throughout the providence Alaska region, meeting the healthcare needs of alaskans as they journey through life.program service accomplishmentsthese important services include:- behavioral health program support for all ages, with specific focus on adolescents- school based mental health clinicians around the state- family support services for pediatric patients and their families- charity care- medical equipment and supplies- continuing education for clinical staff- comfort care for critical or end-of-life patients and families- basic necessities such as clothing or care items for safe patient discharge- Alaska cares child advocacy center support- health education for topics such as parenting, new families, safe kids, trauma response first-aid.- permanent supportive housing for elders experiencing homelessness.- addiction medicine and substance abuse program support.

Financial Efficiency

• Mission deployment rate: 89.4%; rating input score 89
• Program expense ratio: 92%; rating input score 92
• Fundraising efficiency: $31.92 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 88.9%; rating input score 89; 21st percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 7.7%; rating input score 62; 62nd percentile among comparable filings
• Total-asset coverage ratio: 3.77; rating input score 80; 80th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
• Officer compensation ratio: 0.6%; rating input score 89; 89th percentile among comparable filings

Growth

• Program expense growth: 14.7% per year; rating input score 100; 83rd percentile among comparable filings
• Revenue growth: 10.3% per year; rating input score 100; 75th percentile among comparable filings
• Asset growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings