Providence General 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 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, wain 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 accomplishmentsprovidence general foundation in everett Washington raises funds to support programs and services offered by providence everett with special emphasis on reaching the most vulnerable in our community. In 2024 providence general foundation distributed more than $5.37 million to providence regional medical center everett and community health care initiatives. Support from community members, local businesses, charitable foundations, physicians, and caregivers allows us to invest in advancing health care for our community.$4,853,496 invested in equipment & technology: from high-tech cancer equipment to new trauma stretchers in our emergency department, philanthropy improved patient care by providing caregivers with advanced technology and equipment.$288,902 invested in community outreach & equity: philanthropy reduced barriers to better connect vulnerable communities to essential care, improving health and creating a more equitable experience for all. Funding provided things like specialty medical appointments for uninsured or underinsured patients, community health care educational conferences, and special bras for those who've had breast surgery.$141,126 invested in patient support: from helping cancer patients with lodging, transportation or emergency financial assistance to keeping our emergency department's clothes closet stocked, to funding meeting space for stroke support groups, philanthropy made compassionate support services and programs accessible to all. $87,500 invested in workforce development & caregiver well-being: exceptional care begins with exceptional caregivers. Investing in the health care workforce deepens clinical expertise and

Financial Efficiency

• Mission deployment rate: 80.3%; rating input score 80
• Program expense ratio: 75.6%; rating input score 76
• Fundraising efficiency: $5.24 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 24th 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: 99.2%; rating input score 99; 37th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 96%; rating input score 96; 26th 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: NotApplicable
  • 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: 19.9%; rating input score 77; 77th percentile among comparable filings
• Total-asset coverage ratio: 6.76; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
• Officer compensation ratio: 3.7%; rating input score 63; 63rd percentile among comparable filings

Growth

• Program expense growth: 0.9% per year; rating input score 100; 17th percentile among comparable filings
• Revenue growth: 1.4% per year; rating input score 100; 17th percentile among comparable filings
• Asset growth: 6.3% per year; rating input score 100; 41st percentile among comparable filings