Providence Medical 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, 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 providence medical foundation (fka st. Joseph heritage healthcare) has been meeting the health and quality of life needs of the local community for over 25 years. Serving the communities of orange, los angeles, san bernadino, napa, sonoma, humboldt, lake, marin and mendocino counties, providence medical foundation is a not-for-profit medical practice foundation that provides quality care in the areas of professional medical services and administration of st. Joseph health full risk patients with over 3,400 employees committed to realizing the mission.as a member of the providence st. Joseph health system, providence medical foundation is committed to extending the healing ministry of jesus in the tradition of the sisters of st. Joseph of orange. This mission has guided our catholic healthcare ministry since the opening of our first hospital in eureka, California over 100 years ago.the sisters of st. Joseph of orange trace their roots back to 17th century france and the unique vision of a jesuit priest named jean-pierre medaille. He sought to organize an order of religious women who, rather than remaining safely cloistered in a convent, ventured out into the community to seek out "the dear neighbors and minister to their needs. The congregation managed to survive the turbulence of the french revolution and eventually expanded, not only throughout france, but throughout the world. In 1912 a small group of sisters of st. Joseph went to eureka, California at the invitation of the local bishop to establish a school. A few years later, the great influenza epidemic of 1918 caused the sisters to temporarily set aside their education efforts to care for the ill. Th

Financial Efficiency

• Mission deployment rate: 88.5%; rating input score 89
• Program expense ratio: 86.9%; rating input score 87
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 12th 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: 93.8%; rating input score 94; 26th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 60%; rating input score 60; 16th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: -0%; rating input score 27; 27th percentile among comparable filings
• Total-asset coverage ratio: 0.27; rating input score 8; 8th percentile among comparable filings
• Liabilities to assets ratio: 0.81; rating input score 17; 17th percentile among comparable filings
• Officer compensation ratio: 0.5%; rating input score 84; 84th percentile among comparable filings

Growth

• Program expense growth: 5.1% per year; rating input score 100; 41st percentile among comparable filings
• Revenue growth: 9% per year; rating input score 100; 73rd percentile among comparable filings
• Asset growth: 7.7% per year; rating input score 100; 57th percentile among comparable filings