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. Petaluma valley hospital ("pvh") and healdsburg hospital ("hdh")pvh is a community hospital founded in 1980 by the petaluma healthcare district, and is located in petaluma, ca and has 80 licensed beds and a campus that is 14.63 acres in size. Pvh has a staff of 501 employees and professional relations with more than 260 local physicians. Healdsburg hospital is a critical access hospital founded by dr. J walter seawell in 1905 and located in healdsburg, California. Providence has managed operations of the facility since january 1, 2021. The facility has 43 licensed beds, a campus that is 4 acres in size and roughly 300 employees. Petaluma valley hospital came together with providence healdsburg to form western healthconnect. 2024 program service accomplishmentsin cy24, western healthconnect reported $2.5m in financial assistance (free and discounted care), and $31.4m of unpaid cost of medicaid. Western healthconnect is committed to promoting the health and quality of life in its surrounding community through its services and programs. The following are some examples. Access to health and dental care: supporting alliance medical center's expansion of its windsor dental clinic providing culturally and linguistically sensitive oral health services in northern sonoma county. Investment will increase capacity to serve additional low-income, hispanic/latino, and migrant and seasonal farmworkers with affordable care. Funding will expand access through four new dental operatories staffed with dentists, dental assistants and a front desk receptionist. $200,000 investment. Supporting committee on the shelterless' recuperative care program, a 20-bed facility, offering short-term reside

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 92.2%; rating input score 92
• 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: 99.3%; rating input score 99; 39th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

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: -37.6%; rating input score 2; 2nd percentile among comparable filings
• Total-asset coverage ratio: 0.77; rating input score 30; 30th percentile among comparable filings
• Liabilities to assets ratio: 0.9; rating input score 13; 13th percentile among comparable filings
• Officer compensation ratio: 3%; rating input score 37; 37th percentile among comparable filings

Growth

• Program expense growth: 6.4% per year; rating input score 100; 52nd percentile among comparable filings
• Revenue growth: 39.4% per year; rating input score 100; 98th percentile among comparable filings
• Asset growth: 39.4% per year; rating input score 100; 98th percentile among comparable filings