Providence Health Care Foundation

What it reported doing in 2020

See schedule oat providence, we use our voice to advocate for vulnerable populations and needed reforms in health care. We pursue 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 120,000 caregivers (all employees) serve in 51 hospitals, 1,085 clinics and a comprehensive range of 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-hoag memorial hospital presbyterian in orange county, ca-kadlec in southeast Washington-pacific medical centers in seattle, wa-swedish health services in seattle, wa2020 - an unprecedented yearover the past year, our communities have faced extraordinary challenges. But even during the most difficult public health crisis of our time, communities have also shown remarkable strength and resolve. There is so much good that can be accomplished at the community level, especially when like-minded organizations work together. In service to our mission, providence partners with community-based organizations to identify urgent health needs and environmental factors that are impacting the well-being of our communities. We act to provide short-term solutions and envision long-term results by wisely investing in our communities to help build a more equitable and sustainable future. In 2020, we invested $1.7 billion in community benefit across seven regions, to support organizations, programs and initiatives that create lasting change at the community level. These efforts seek to mitigate immediate challenges while finding solutions to deep-rooted problems, improve access to health care, and advance innovative care models to meet the evolving needs of our communities.caring for our communities has never been more important. To achieve our vision of health for a better world, our providence family of organizations focused on four community initiatives in 2020:1 - foundations of health;2 - removing barriers to care;3 - community resilience; and4 - innovating for the future.we chose these focus areas because they are all foundational to health and well-being, representing identified needs that are integral to improving quality of life. Program service accomplishments - providence health care foundation provided $334,983 in capital support for providence centralia hospital. The foundation provided $132,496 in financial support to providence centralia hospital and other local providence related ministries for operational support of direct patient care, patient and employee safety, and health care education. Donation to non-providence entities and individuals in the form of grant assistance covering patient and visitor social service care needs in the amount of $2,500.as of december 31, 2020, the remaining assets and operation of providence health care foundation were merged into providence southwest Washington foundation (fka providence st. Peter foundation), a related 501(c)(3) organization, and providence health care foundation was dissolved.

Financial Efficiency

• Mission deployment rate: 57.3%; rating input score 57
• Program expense ratio: 80.4%; rating input score 80
• Fundraising efficiency: $10.91 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd 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; 74th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 87.5%; rating input score 88; 20th 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: 40.7%; rating input score 88; 88th percentile among comparable filings
• Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
• Liabilities to assets ratio: Limited
• Officer compensation ratio: 11.6%; rating input score 34; 34th percentile among comparable filings

Growth

• Program expense growth: -0.8% per year; rating input score 0; 28th percentile among comparable filings
• Revenue growth: -3.4% per year; rating input score 0; 12th percentile among comparable filings
• Asset growth: -0.9% per year; rating input score 0; 18th percentile among comparable filings