Providence

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, 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. 2024 program service accomplishments providence in Oregon is a not-for-profit network of hospitals, health plans, physicians, clinics, home health services, and affiliated health services. We strive to give those we serve exceptional, compassionate health care that provides peace of mind. Providence hospitals have been recognized for excellence by such groups as american nurses credentialing center, american heart association, american stroke association, and national cancer institute. -providence hood river memorial hospital, hood river, or -providence medford medical center, medford, or -providence milwaukie hospital, milwaukie, or -providence newberg medical center, newberg, or -providence portland medical center, portland, or -providence seaside hospital, seaside, or -providence st. Vincent medical center, portland, or -providence willamette falls medical center, Oregon city, or providence Oregon's financial assistance program aims to improve the health and well-being of each person we serve, regardless of ability to pay. We believe that no one should delay seeking needed medical care because they lack health insurance. Providence Oregon hospitals' have a financial assistance program (fap) that provides free or discounted services to eligible patients. In 2024, providence Oregon hospitals and other entities provided $72.8m in free and discounted care. In addition, providence Oregon provided vital services to medicaid patients. In cy24, the unpaid cost of medicaid and other means tested programs was $209.3m. In 2024, providence Oregon continued its tradition of compassion and dedication to our communities by investing to address community needs. Key efforts in cy24 focused o

Financial Efficiency

• Mission deployment rate: 93.2%; rating input score 93
• Program expense ratio: 92.1%; rating input score 92
• Fundraising efficiency: $22.49 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th 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: Scored; rating input score 0
• 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: 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: -0.3%; rating input score 25; 25th percentile among comparable filings
• Total-asset coverage ratio: 0.79; rating input score 31; 31st percentile among comparable filings
• Liabilities to assets ratio: 0.15; rating input score 76; 76th percentile among comparable filings
• Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: 9.3% per year; rating input score 100; 72nd percentile among comparable filings
• Revenue growth: 6.8% per year; rating input score 100; 59th percentile among comparable filings
• Asset growth: 5.2% per year; rating input score 100; 38th percentile among comparable filings