Providence

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, 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. 2024 program service accomplishmentsat providence, we are committed to improving the health of the communities we serve. As a leading provider of primary and specialty care serving those in need, we are dedicated to improving community health. Providence is the largest health care provider in Washington with hospitals, clinics, across the state. Our not-for-profit network includes hospitals, physicians, clinics, care centers, and diverse community services across Washington. In addition. Providence has a long history of serving Alaska, beginning when the sisters of providence first brought health care to nome in 1902 during the gold rush. This pioneering spirit set the standard for modern health care in Alaska and formed the foundation for providence's trajectory as the state's leading health care provider. Today, providence serves alaskans in six communities - anchorage, eagle river, kodiak island, mat-su, seward and valdez. Providence Alaska is the state's largest private employer with more than 4,000 full and part-time employees working for the organization statewide. Our commitment to improving the health of our communities extends beyond patient care. Through community health improvement and strategic partnerships, health professions education and research, free, discounted and subsidized care, and other means of outreach, we commit to caring for those we serve through high-impact community benefit programs and services. In cy24, providence health and services Washington reported $94m in financial assistance (free and discounted care), and $223m of unpaid cost of medicaid. Providence health and services Washington is committed to promoting the health and quality o

Financial Efficiency

• Mission deployment rate: 63.1%; rating input score 63
• Program expense ratio: 62.9%; rating input score 63
• Fundraising efficiency: $22.43 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: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• 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: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 4.2%; rating input score 53; 53rd percentile among comparable filings
• Total-asset coverage ratio: 1; rating input score 39; 39th percentile among comparable filings
• Liabilities to assets ratio: 0.79; rating input score 18; 18th percentile among comparable filings
• Officer compensation ratio: 0.7%; rating input score 79; 79th percentile among comparable filings

Growth

• Program expense growth: 5.3% per year; rating input score 100; 43rd percentile among comparable filings
• Revenue growth: 6.8% per year; rating input score 100; 59th percentile among comparable filings
• Asset growth: 2.7% per year; rating input score 100; 19th percentile among comparable filings