Renown Health

What it reported doing in 2024

See Schedule ORenown Health is the parent company of northern Nevada's largest, private, not-for-profit healthcare network. Our income stays right here in the community to provide many programs and services that would otherwise be unavailable. Renown Health is dedicated to this region and governed by local community leaders and physicians. We are proud to provide the health and education that our friends, neighbors and family members expect and deserve.Founded in 1862, as the Washoe Clinic, to treat patients affected by a smallpox outbreak in Washoe County, Renown Health was created by members of our community. For more than 160 years, we have solidified a trusting partnership upon which residents have come to depend. With community at the center of our mission, we embrace our commitment to make a genuine difference in lives of others.Renown Health provides various services to all affiliates including Renown Regional Medical Center, an 826-bed full service regional hospital, Renown South Meadows Medical Center, a 115-bed acute care community hospital, and Renown Rehabilitation Hospital, a 62-bed rehabilitation hospital. This furthers the tax-exempt status of the supported Renown entities that provide quality healthcare for Renown's primary service area, Washoe County and the secondary service areas of northern Nevada and northern California.Renown Health has more than 8,000 employees and serves over 1 million people. In addition to the two medical centers and a rehabilitation hospital mentioned above, Renown also has a children's hospital, and over 120 medical care sites, urgent care and outpatient imaging practices. Hometown Health is the insurance division of Renown Health and is northern Nevada's largest local, not-for-profit health insurance company that provides wide-ranging medical coverage.Renown has a long tradition and commitment to improve the care and the health of our community. Besides our commitment to meeting the healthcare needs of the region, Renown Health gives back to communities by contributing funds, services, facilities and the time and expertise of employees. These benefits to the community flow from Renown Health as a whole and from the individual hospitals, facilities and departments that make up our health network. Renown is currently enrolling participants in a community-based genetic population health study, the Healthy Nevada Project, whose goal is to learn how genetics impact personal health and use the information to make better health decisions.For the period ended December 31, 2024, Renown Health and its subsidiaries, provided approximately $196 million in benefit to the community (using community benefit numbers gathered by the Nevada Hospital Association using state-approved criteria to ensure consistency). For a full report on the benefit Renown Health provided to our community, as well as our community needs assessment and community benefit plan, go to https://www.renown.org/about/community-commitment.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 87.3%; rating input score 87
• Fundraising efficiency: Limited

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: Limited
• Grant itemization coverage: 99.9%; rating input score 100; 46th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 90.9%; rating input score 91; 39th 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: Pass
  • 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: -15.1%; rating input score 5; 5th percentile among comparable filings
• Total-asset coverage ratio: 2.01; rating input score 63; 63rd percentile among comparable filings
• Liabilities to assets ratio: 0.29; rating input score 57; 57th percentile among comparable filings
• Officer compensation ratio: 2.5%; rating input score 47; 47th percentile among comparable filings

Growth

• Program expense growth: 7.9% per year; rating input score 100; 63rd percentile among comparable filings
• Revenue growth: 8.2% per year; rating input score 100; 68th percentile among comparable filings
• Asset growth: 5.3% per year; rating input score 100; 39th percentile among comparable filings