COVENANT HEALTH PARTNERS INC

EIN: 463516417 501(c)(3) Health Care

RENTON, WA

Total Revenue
$21,836,754
Total Expenses
$21,836,753
Total Assets
$18,585,088
Net Assets
$12,440,590
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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
TX
Principal Officer
WALTER CATHEY
Phone
8067250711
Tax Period
2023-01-01 to 2023-12-31

COVENANT HEALTH PARTNERS INC, founded in 2013, is a mid-sized nonprofit in the Health Care sector that reported $21.8M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum.

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: $14,905,816 Revenue: $21,836,754

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, WAAS 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-REPORTENVIRONMENTAL, SOCIAL, AND GOVERNANCE STANDARDSPROVIDENCE 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.REALIZING OUR MISSION OUR MISSION IS REALIZED THROUGH THE DELIVERY OF QUALITY IN-PATIENT AND OUT-PATIENT SERVICES, AND FOCUSED COMMUNITY INITIATIVES AND PROGRAMS THAT ARE DEDICATED TO IMPROVING THE LIVES OF ALL WE SERVE. PROGRAM SERVICE ACCOMPLISHMENTS COVENANT HEALTH PARTNERS IS A JOINT VENTURE BETWEEN MORE THAN 300 PHYSICIANS AND THE FOUR HOSPITALS IN THE COVENANT HEALTH SYSTEM IN A UNIQUE COLLABORATION KNOWN AS CLINICAL INTEGRATION. THE PROGRAM IS DESIGNED TO IMPROVE HEALTH OUTCOMES AND INCREASE THE VALUE RECEIVED FOR THE DOLLARS SPENT BY AREA EMPLOYERS ON EMPLOYEE HEALTH BENEFITS. THE COVENANT HEALTH PARTNERS CLINICAL INTEGRATION PROGRAM JOINS TOGETHER WHAT WOULD OTHERWISE BE A FRAGMENTED GROUP OF INDEPENDENTLY PRACTICING PHYSICIANS INTO A COMPREHENSIVE CARE MANAGEMENT PROGRAM, COMPRISED OF A COMMON SET OF QUALITY GOALS AND MEASURES ACROSS ALL INSURANCE CARRIERS, WITH A FOCUS ON IMPROVED HEALTH CARE OUTCOMES AND REDUCING THE LONG TERM COST OF CARE. UNLIKE OTHER DISEASE MANAGEMENT OR PREVENTIVE HEALTH PROGRAMS, THE CLINICAL INTEGRATION PROGRAM PROVIDES EXTENSIVE INFRASTRUCTURE AND SUPPORT TO PHYSICIANS PARTICIPATING IN THE PROGRAM, AS WELL AS A PAY-FOR-PERFORMANCE INCENTIVE SYSTEM, TO DRIVE AN OUTSTANDING LEVEL OF PERFORMANCE.COVENANT HEALTH PARTNERS (CHP) BEGAN IN 2013 WHEN A NUMBER OF PHYSICIANS SUPPORTED BY COVENANT HEALTH SYSTEM, HAD THE VISION TO IMPROVE THE CURRENT MEDICAL DELIVERY SYSTEM IN THE COMMUNITY THROUGH A MODEL NOT WIDELY USED, KNOWN AS CLINICAL INTEGRATION. THE VISION RESULTED IN THE FORMING OF COVENANT HEALTH PARTNERS; A COLLABORATION BETWEEN COVENANT HEALTH SYSTEM, COVENANT MEDICAL GROUP (WHICH EMPLOYS ABOUT 150 PHYSICIANS), AND 160 INDEPENDENT PHYSICIANS.FOR MORE INFORMATION ON COVENANT HEALTH PARTNERS, PLEASE VISITHTTPS://WWW.COVENANTHEALTHPARTNERS.ORG/ FOR MORE INFORMATION ABOUT PROVIDENCE ST. JOSEPH HEALTH, PLEASE VISITHTTPS://WWW.PROVIDENCE.ORG/

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $21,836,754
Investment Income $0
Other Revenue $0
TOTAL REVENUE $21,836,754

Expense Breakdown

Grants Paid $2,520
Salaries & Benefits $13,108,634
Fundraising Expenses $0
Program Expenses $14,905,816
Other Expenses $8,725,599
TOTAL EXPENSES $21,836,753

Year-over-Year Comparison

2023 2022 Change
Revenue $21,836,754 $18,191,962 +0.2%
Expenses $21,836,753 $18,120,743 +0.2%
Net Income $1 $71,219 -1.0%
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
18
Independent Members
3
Employees
193
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
$2,670,019
Total Directors
18
$8,017,212
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WALTER CATHEY CEO (PART YEAR) 18.00
Officer
$0 $203,418 $1,645,841
JOHN GRIGSON FRMR OFF. - TX/NM REG. CFO 0.00
$0 $31,533 $1,057,577
NILESH PATEL MD BOARD MEMBER - THRU 12/31/23 0.50
Director
$0 $102,320 $1,056,348
JASON STREFLING MD BOARD MEMBER 0.50
Director
$0 $66,737 $953,345
RYAN OWEN MD BOARD MEMBER 0.50
Director
$0 $64,707 $815,456
JAMES KELLY FRMR OFF. - VP SENIOR CORP COUNSEL 0.00
$0 $104,422 $808,682
RICHARD HENDERSON MD BOARD MEMBER 0.50
Director
$0 $87,076 $770,536
JEREMY DALTON MD BOARD MEMBER 0.50
Director
$0 $49,626 $655,838
MICHAEL ROBERTSON MD CHP CEO - THRU 11/23 27.50
Officer
$486,174 $39,691 $525,865
CHETLEN CROSSNOE MD BOARD MEMBER 0.50
Director
$0 $22,757 $454,435
JEFFREY HANNEL MD BOARD MEMBER 0.50
Director
$0 $47,858 $448,615
JEREMY L BROWN MD BOARD MEMBER 0.50
Director
$0 $72,052 $447,504
WILLIAM B SNODGRASS MD BOARD MEMBER/CHAIR 1.00
Director
$0 $41,709 $425,613
CHRISTOPHER COLLINS MD BOARD MEMBER 0.50
Director
$0 $18,812 $388,859
KAREN TALUSAN-SORIANO MD BOARD MEMBER 0.50
Director
$0 $63,553 $370,247
BRENT NALL MD BOARD MEMBER 0.50
Director
$0 $35,158 $366,840
DAVID STOWERS EXECUTIVE DIRECTOR CARE MANAGEMENT 50.00
Highest
$294,729 $47,584 $342,313
JOEL LANDRY BOARD MEMBER 0.50
Director
$0 $37,722 $314,151
MARISSA YATES MD BOARD MEMBER 0.50
Director
$0 $38,497 $297,553
RACHAEL STEHLING EXEC DIR, BUSINESS DEVELOPMENT 50.00
Highest
$226,355 $45,107 $271,462
ADAM SPIVEY CFO - THRU 11/23 14.00
Officer
$0 $30,940 $260,906
ANGELA FERGUSON MD BOARD MEMBER - THRU 12/31/23 0.50
Director
$0 $39,955 $251,872
KATHLEEN BURRELL SECR./ASSOCIATE COUNSEL (PART YEAR) 7.00
Officer
$0 $31,334 $193,718
ALLISON HORTON CLINICAL PHARMACIST 50.00
Highest
$167,320 $20,155 $187,475
LISA BARRINGTON DIR, QUALITY IMPROVEMENT 50.00
Highest
$151,552 $34,505 $186,057
SAMMY RAY DIR. PLATFORM OPERATIONS TELEHEALTH 50.00
Highest
$149,450 $25,131 $174,581
LINDZI TIMBERLAKE SECRETARY - THRU 3/23 0.50
Officer
$0 $3,401 $43,689
JOSHUA HILL MD BOARD MEMBER 0.50
Director
$0 $0 $0
RANDY ROZEAN MD BOARD MEMBER 0.50
Director
$0 $0 $0
SWETHA GADWALA MD BOARD MEMBER 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 $21,836,754 $21,836,753 $18,585,088 $1
2022 $18,191,962 $18,120,743 $20,493,473 $71,219
2021 $16,901,042 $16,895,418 $20,551,600 $5,624
2020 $19,583,575 $18,941,033 $9,051,325 $642,542
2019 $19,745,208 $18,986,202 $11,296,867 $759,006
2018 $21,901,730 $20,195,367 $10,222,617 $1,706,363
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