Swedish Medical Center Foundation

What it reported doing in 2024

2024 swedish foundation 990 recap donations to swedish foundation ensure patients have access to the safest, highest quality, most advanced health care available, including in the following key areas: north patient towerthe new north patient tower, expected to open in 2027, will provide a state-of-the-art, best-in-class environment for patient care, ensuring that we continue to deliver the most advanced and specialized medical care in the northwest. The north patient tower will be a "building of the future." designated philanthropic funds donated in 2024 will support this initiative to help us build 24 advanced operating suites, with state-of-the-art technology to support the evolving delivery of surgical services; a new 31-room emergency department, designed to be more efficient and better manage the needs of patients; a 72-bed acuity-adaptable intensive care unit (icu) to ensure flexibility of our most critical patients; new centralized imaging facilities to diagnose, monitor, and treat medical conditions; and supportive, healing spaces for patients, caregivers, and visitors. Providence swedish cancer institute (psci) in 2024, philanthropic dollars supported an array of critical cancer research, education, patient assistance, and supportive care services. These donations helped us to focus vital resources on the treatment of cancer and offer evidence-based patient care, tailored to each patient's unique needs. In 2024, research gifts were directed to the center for blood disorders and cellular therapy, paul g. Allen research center, breast cancer program, and kaplan cancer research program. These donations were essential in helping us to continue clinical research efforts, enabling the team to quickly translate findings into real-world tests and treatments that improve patients' lives. Philanthropy was instrumental in addressing cancer screening and oncology services within the greater puget sound community. Last year, funding supported mobile mammography, gynecologic oncology, and satellite operations at psci issaquah and edmonds. It also allowed for patient assistance programs and widespread supportive counseling, social work, and patient assistance services, such as innovative art and music therapies and a unique health care program providing training and career opportunities for women facing homelessness. Providence swedish neuroscience institute (psni) the acclaimed providence swedish neuroscience institute provides advanced, progressive treatment for a wide range of brain, spine, and central nervous system conditions. We have a roster of world-class neurologists and neurosurgeons, leading-edge operating rooms, telehealth access for patients outside the area, and a specially trained inpatient neurology team, all with a level of care and compassion focused on improving outcomes. Philanthropic donations to the providence swedish neuroscience institute allowed for new technology, enhanced patient education, innovative research, and improved patient care. Gifts designated for the multiple sclerosis center were directed to ms research, support initiatives, and lifestyle programs, in addition to programmatic staffing needs to support these areas. The ben and catherine ivy center for advanced brain tumor treatment utilized philanthropic support to continue its pivotal immunotherapy research, high-throughput clinical trial, and the staffing of a nurse navigator to support clinical and patient needs.gifts to psni also helped fund neurosurgical fellowships and educational programs, movement disorder research, lifestyle programs. It also helped fund community education, lifestyle medicine programs, and programmatic support for the center for healthy aging and women's brain health program, as well as a nurse navigator to support the cerebrovascular and stroke program. Providence swedish heart & vascular institute (pshvi) we are the region's largest cardiovascular care center, with a broad range of services, sub-specialties, and exp

Financial Efficiency

• Mission deployment rate: 33.4%; rating input score 33
• Program expense ratio: 72.9%; rating input score 73
• Fundraising efficiency: $12.34 raised per $1 spent on fundraising; rating input score 47; 47th 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; 52nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 80%; rating input score 80; 28th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Limited
  • 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: 59.7%; rating input score 97; 97th percentile among comparable filings
• Total-asset coverage ratio: 6.5; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 94; 94th percentile among comparable filings
• Officer compensation ratio: 2.6%; rating input score 44; 44th percentile among comparable filings

Growth

• Program expense growth: 9% per year; rating input score 100; 70th percentile among comparable filings
• Revenue growth: 8.5% per year; rating input score 100; 70th percentile among comparable filings
• Asset growth: 7.9% per year; rating input score 100; 58th percentile among comparable filings