PROVIDENCE MEDICAL INSTITUTE

EIN: 330283773 501(c)(3) Unknown

RENTON, WA

Total Revenue
$222,016,119
Total Expenses
$222,156,179
Total Assets
$81,658,613
Net Assets
$-74,886,805
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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
CA
Principal Officer
PRASANNA MOHANTY
Phone
8188375707
Tax Period
2023-01-01 to 2023-12-31

PROVIDENCE MEDICAL INSTITUTE, founded in 1987, is a major nonprofit in the Unknown sector that reported $222.0M in total revenue in fiscal year 2023.

Mission

AS EXPRESSIONS OF GOD'S HEALING LOVE, WITNESSED THROUGH THE MINISTRY OF JESUS, WE ARE STEADFAST IN SERVING ALL, ESPECIALLY THOSE WHO ARE POOR AND VULNERABLE.

Program Service Accomplishments

Program 1
Expenses: $199,912,515 Revenue: $220,462,923

AT 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...

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AT 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 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 117,000 CAREGIVERS (ALL EMPLOYEES) SERVE IN 51 HOSPITALS, 1,000 CLINICS AND A COMPREHENSIVE RANGE OF HEALTH AND SOCIAL SERVICES ACROSS ALASKA, CALIFORNIA, MONTANA, NEW MEXICO, OREGON, TEXAS AND WASHINGTON. THE PROVIDENCE FAMILY INCLUDES: -PROVIDENCE ACROSS SEVEN WESTERN STATES -COVENANT HEALTH IN WEST TEXAS -PROVIDENCE FACEY MEDICAL FOUNDATION IN LOS ANGELES, CA -KADLEC IN SOUTHEAST WASHINGTON -PACIFIC MEDICAL CENTERS IN SEATTLE, WA -SWEDISH HEALTH SERVICES IN SEATTLE, WA AS A COMPREHENSIVE HEALTH CARE ORGANIZATION, WE ARE SERVING MORE PEOPLE, ADVANCING BEST PRACTICES AND CONTINUING OUR MORE THAN 100-YEAR TRADITION OF SERVING THE POOR AND VULNERABLE. DELIVERING SERVICES ACROSS SEVEN STATES, PROVIDENCE IS COMMITTED TO TOUCHING MILLIONS OF MORE LIVES AND ENHANCING THE HEALTH OF THE AMERICAN WEST TO TRANSFORM CARE FOR THE NEXT GENERATION AND BEYOND. THROUGH COMMUNITY BENEFIT PROGRAMS AND OTHER HIGH-IMPACT INVESTMENTS, WE WORK TO ENSURE BASIC HEALTH NEEDS ARE MET AND SERVE TO REMOVE BARRIERS TO CARE, BUILD COMMUNITY RESILIENCE AND INNOVATE FOR THE FUTURE. MINISTRIES AND AFFILIATES SUPPORT ORGANIZATIONS, PROGRAMS AND INITIATIVES THAT IMPROVE HEALTH AND WELL-BEING AND INCREASE EQUITABLE ACCESS TO QUALITY CARE AT THE COMMUNITY LEVEL AND AT SCALE ACROSS SEVEN STATES. WE ARE PROUD OF OUR HISTORY AND CONTINUED COMMITMENT TO HELPING BUILD A MORE EQUITABLE, SUSTAINABLE FUTURE. OUR STEADFAST COMMITMENT TO RESPONDING TO COMMUNITY NEED IS ONE OF THE MANY WAYS MINISTRIES, AFFILIATES AND CAREGIVERS LIVE OUT OUR SHARED MISSION AND CONTINUE TO SERVE AS A VITAL SAFETY NET FOR THOSE WHO ARE VULNERABLE. FOR MORE INFORMATION GO TO: HTTPS://WWW.PROVIDENCE.ORG/ABOUT/ANNUAL-REPORT ENVIRONMENTAL, SOCIAL, AND GOVERNANCE STANDARDS PROVIDENCE CONTINUES TO EXECUTE ON OUR INTEGRATED STRATEGIC AND FINANCIAL PLAN, WHICH CLEARLY EXPRESSES OUR COMMITMENT AND ACCELERATION OF THE IMPORTANT WORK TO ADDRESS SOCIAL, RACIAL, AND ECONOMIC DISPARITIES AND REDUCE OUR CARBON FOOTPRINT IN THE COMMUNITIES WE SERVE. PROVIDENCE ADVANCES PROGRESS ON OUR CARBON NEGATIVE GOAL AND IN 2023 WE ESTIMATED THAT WE DECREASED EMISSIONS BY OVER 12 PERCENT COMPARED TO OUR 2019 BASELINE. IN ADDITION, OUR EFFORTS LED TO THE INTRODUCTION OF THE GREEN HOSPITALS ACT, LEGISLATION MODELED AFTER PROVIDENCE THAT WOULD PROVIDE CRITICAL FEDERAL FUNDING TO WEATHERIZE AND MODERNIZE HEALTH CARE FACILITIES. PROVIDENCE COMPLETED A COMPREHENSIVE CLIMATE RESILIENCE PLAN IN ALIGNMENT WITH OUR COMMITMENT TO THE US DEPARTMENT OF HEALTH AND HUMAN SERVICES CLIMATE PLEDGE. WE CONTINUE TO REDUCE GREENHOUSE GAS EMISSIONS WITH A FOCUS ON LED LIGHTING UPGRADES, WATER CONSERVATION, MORE EFFICIENT DELIVERY OF NITROUS OXIDE GAS DURING ANESTHESIA, AND ADVANCING OUR WASTE OPTIMIZATION WORK ACROSS ALL HOSPITALS AND CLINICS. PROVIDENCE MEDICAL INSTITUTE (PMI) IS A NONPROFIT PHYSICIAN SERVICES ORGANIZATION PROVIDING PRIMARY CARE AND A COMPREHENSIVE RANGE OF SPECIALTY AND HOSPITAL-BASED SERVICES FOR OVER 180,000 PATIENTS. FOUNDED IN 1995 TO PROVIDE HIGH QUALITY, COST-EFFECTIVE AND COMPASSIONATE HEALTHCARE, THE PHYSICIANS OF PMI ARE PART OF A 160+ YEAR TRADITION OF THE SISTERS OF PROVIDENCE, WHOSE LEGACY SPANS THE WESTERN STATES. PHYSICIANS WORK CLOSELY WITH THE ORGANIZATION'S SIX PROVIDENCE MEDICAL CENTERS LOCATED IN SAN PEDRO, TORRANCE, SANTA MONICA, TARZANA, BURBANK, AND MISSION HILLS. PROVIDENCE IS DEDICATED TO PROVIDING A FULL CONTINUUM OF CARE FROM BIRTH THROUGH THE GOLDEN YEARS. THE ORGANIZATION WAS THE FIRST HEALTH SYSTEM IN CALIFORNIA TO WIN HEALTHGRADES' DISTINGUISHED HOSPITAL AWARD FOR FIVE OF THE SIX HOSPITALS EVALUATED FOR THIS ACCOMPLISHMENT. CURRENTLY THE MEDICAL GROUPS AFFILIATED WITH PROVIDENCE MEDICAL INSTITUTE COMPRISE MORE THAN 200 PRIMARY CARE AND SPECIALIST PROVIDERS LOCATED ACROSS 65 MEDICAL OFFICES. THE PHYSICIANS AND STAFF ARE COMMITTED TO EXTENDING PRIMARY AND URGENT CARE SERVICES TO THEIR LOCAL COMMUNITIES. EVEN FOR THOSE WITH INSURANCE THE COST FOR PRIMARY CARE MAY BE OUT OF REACH. PMI AND THE PROVIDENCE LITTLE COMPANY OF MARY MEDICAL CENTER IN TORRANCE HAVE PARTNERED IN THE SOUTH BAY TO OFFER A STATE-OF-THE-ART PRIMARY CARE CLINIC SPECIFICALLY OPEN TO THE UNINSURED OR UNDERINSURED ADULT ON A CASH-PAY BASIS. IN ADDITION TO EXCEPTIONAL CARE, PATIENTS HAVE ACCESS TO HEALTHCARE COUNSELING FOR COMPLEX HEALTH CONDITIONS SUCH AS DIABETES. PROVIDENCE IS COMMITTED TO QUALITY COMPASSIONATE CARE FOR ALL, HONORING THE CORE VALUES OF THE FOUNDING SISTER OF PROVIDENCE AND LIVING THEIR 160+ YEAR-OLD MISSION: TO SERVE THE POOR AND VULNERABLE. OUR HISTORY FOUNDED IN 1996, PROVIDENCE LITTLE COMPANY OF MARY MEDICAL INSTITUTE BEGAN WHEN 27 PHYSICIANS PRACTICING INDEPENDENTLY IN THE COMMUNITY ENTERED INTO A PARTNERSHIP WITH PROVIDENCE LITTLE COMPANY OF MARY TO CREATE A NOT-FOR-PROFIT MEDICAL FOUNDATION. AS PART OF THE PARTNERSHIP, EACH PHYSICIAN IN THE MEDICAL INSTITUTE COMMITTED TO MEETING THE HEALTH NEEDS OF THE COMMUNITY WHILE EMBRACING THE MISSION OF THE SISTERS OF LITTLE COMPANY OF MARY. IN 1999, THE SISTERS OF LITTLE COMPANY OF MARY JOINED WITH THE SISTERS OF PROVIDENCE. TOGETHER, UNDER A CO-SPONSORSHIP, THEY HAVE ADOPTED THE PROVIDENCE MISSION AND CORE VALUES. OUR COMMITMENT TO THE COMMUNITIES WE SERVE PROVIDENCE MEDICAL INSTITUTE (PMI) IS CONTINUING ITS EXPANSION OF CARE TO OUR SOUTH BAY, SAN FERNANDO, AND SANTA CLARITA VALLEY COMMUNITIES BY EXPANDING THE NUMBER AND TYPES OF PHYSICIANS, ADDING MORE LOCATIONS THROUGHOUT OUR SERVICE AREA AS WELL AS PROVIDING NEW SERVICES AT OUR PMI CLINIC SITES PLUS EXPANDING OFFICE HOURS TO MAKE IT MORE CONVENIENT FOR OUR PATIENTS. SECONDLY, PMI IS DOUBLING ITS EFFORTS TO PROVIDE CLINICAL EXCELLENCE IN THE CARE DELIVERED TO PATIENTS. WE ARE ACHIEVING THIS GOAL EVERY YEAR BY CONTINUALLY ADDING HIGHLY-SKILLED PHYSICIANS AND OTHER PROVIDERS, REQUIRING ONGOING MEDICAL EDUCATION AND TRAINING TO ENSURE PHYSICIANS ARE UP TO DATE, ADVANCING THE USE OF TEAM-BASED CARE TO MAKE ADDITIONAL SERVICES AVAILABLE SUCH AS OUR SENIOR WELLNESS PROGRAM AT AXMINSTER MEDICAL GROUP. WE ARE ALSO USING EVIDENCE-BASED MEDICINE (RESEARCH) TO DRIVE MEDICAL DECISIONS. FINALLY, PMI IS CONTINUALLY UTILIZING TECHNOLOGY TO BETTER SERVE OUR PATIENTS. WHILE CURRENT ELECTRONIC MEDICAL RECORDS ALLOW FOR INSTANT ACCESS TO PATIENT RECORDS AND MANY OTHER ADVANTAGES, NEW FUNCTIONS CREATE THE OPPORTUNITY TO MANAGE A PATIENT'S HEALTH MORE PROACTIVELY, SHARE INFORMATION ACROSS PROVIDERS AND WITH THE PATIENT, ALLOW FOR PATIENTS TO INTERACT WITH PHYSICIANS REMOTELY, AND OTHER MAJOR ADVANCES. IN ADDITION, THE EXPANSION OF THE EXPRESS CARE PROGRAM IN SOUTHERN CALIFORNIA IS ALLOWING OUR PATIENTS TO SEE A PHYSICIAN FOR SIMPLE AILMENTS USING THEIR SMARTPHONE OR COMPUTER LAPTOP. PROGRAM REVENUE FROM OTHER PROVIDENCE ENTITIES IS USED FOR PROVIDING HOSPITALIST PROGRAMS, CANCER CENTER SUPPORT, AND NEUROVASCULAR TREATMENT. THE OTHER PROVIDENCE ENTITIES FUND COSTS OF THESE PROGRAMS.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,371,114
Program Service Revenue $217,623,970
Investment Income $0
Other Revenue $3,021,035
TOTAL REVENUE $222,016,119

Expense Breakdown

Grants Paid $44,004
Salaries & Benefits $54,131,703
Fundraising Expenses $0
Program Expenses $199,912,515
Other Expenses $167,980,472
TOTAL EXPENSES $222,156,179

Year-over-Year Comparison

2023 2022 Change
Revenue $222,016,119 $219,286,342 +0.0%
Expenses $222,156,179 $219,286,342 +0.0%
Net Income $-140,060 $0 N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
21
Independent Members
12
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$4,965,364
Total Directors
26
$21,316,583
Key Employees
1
$517,061
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIK WEXLER DIRECTOR 0.50
Director
$0 $461,693 $5,616,067
JO ANN ESCASA-HAIGH FRMR EVP/ASSISTANT TREASURER 0.00
$0 $10,754 $3,302,551
BJ MOORE DIRECTOR - THRU 6/23 0.50
Director
$0 $309,498 $3,147,188
DAVID KIM MD PRESIDENT - THRU 8/23 1.00
Officer Director
$0 $26,953 $2,068,350
KEVIN MANEMANN DIRECTOR - THRU 1/23 0.50
Director
$0 $13,287 $2,039,677
ALI SANTORE DIRECTOR 0.50
Director
$0 $204,645 $1,840,194
SARA VAEZY DIRECTOR (PART YEAR) 0.50
Director
$0 $198,301 $1,723,910
NATHAN HUSMANN FRMR OFF. DIV CFO SOUTH 0.00
$0 $198,695 $1,294,473
JILL DUPLECHAN DIRECTOR (PART YEAR) 0.50
Director
$0 $169,020 $1,269,130
JIM WATSON ESQ SECRETARY 0.50
Officer
$0 $146,931 $1,115,622
ROBERT JUST III DIRECTOR (PART YEAR) 0.50
Director
$0 $151,608 $1,014,762
DAVID MAST DIRECTOR 0.50
Director
$0 $123,979 $994,645
PRASANNA MOHANTY PRESIDENT (PART YEAR) 0.50
Officer Director
$0 $94,582 $952,602
MARY ANNE SLADICH-LANTZ DIRECTOR 0.50
Director
$0 $6,571 $597,558
JOHN WHIPPLE FRMR SECRETARY 0.00
$0 $0 $541,701
TERESA DAVID COO FACEY 27.50
Key Emp
$0 $25,329 $517,061
MELAYNE YOCUM CFO 13.00
Officer
$0 $32,089 $505,069
DONALD ANDERSON JR ASSISTANT SECRETARY FOR ENROLLMENT 0.50
Officer
$0 $30,846 $323,721
ANTONIO FERREY DIRECTOR (PART YEAR) 0.50
Director
$0 $0 $52,500
ABHIJIT ADHYE DIRECTOR 0.50
Director
$0 $0 $0
ANNE FORD MD DIRECTOR 0.50
Director
$0 $0 $0
CONNIE BARTLETT DO DIRECTOR 0.50
Director
$0 $0 $0
ELIZABETH SANDER MD DIRECTOR - THRU 6/23 0.50
Director
$0 $0 $0
JAMES BENOIT DR DIRECTOR/CHAIR (PART YEAR) 1.00
Director
$0 $0 $0
JEANNETTE CURRIE MD DIRECTOR 0.50
Director
$0 $0 $0
KEITH MARTON MD DIRECTOR 0.50
Director
$0 $0 $0
KIMBERLEY CHAN MD DIRECTOR (PART YEAR) 0.50
Director
$0 $0 $0
MARK NEEDHAM MD DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL SUGARMAN MD DIRECTOR 0.50
Director
$0 $0 $0
RAUL RUDY MARQUEZ MD DIRECTOR 0.50
Director
$0 $0 $0
ROBERT DEL JUNCO MD DIRECTOR - THRU 7/23 0.50
Director
$0 $0 $0
ROSCOE MARTER MD DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM BARCELONA DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $222,016,119 $222,156,179 $81,658,613 $-140,060
2022 $219,286,342 $219,286,342 $99,506,681 No data
2021 $219,160,733 $217,952,535 $103,760,433 $1,208,198
2020 $205,881,230 $204,201,047 $98,266,197 $1,680,183
2019 $114,389,825 $208,265,323 $103,103,877 $-93,875,498
2019 $208,265,323 $208,265,323 $103,103,877 No data
2018 $127,047,375 $213,543,653 $91,501,804 $-86,496,278
2018 $127,047,375 $251,430,428 $91,975,946 $-124,383,053
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