RENTON, WA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)COVENANT HOSPITAL HOBBS, founded in 2019, is a mid-sized nonprofit in the Health Care sector that reported $51.2M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $74.1M exceeded revenue, resulting in a 45% operating deficit.
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.
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...
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 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-REPORTTHROUGH 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.2024 PROGRAM SERVICE ACCOMPLISHMENTSCOVENANT HEALTH MEDICAL CENTER, GRACE SURGICAL HOSPITAL, COVENANT CHILDREN'S, HOSPITAL AND COVENANT SPECIALTY HOSPITAL (JOINT VENTURE) WORK COLLABORATIVELY THROUGH A CENTRALIZED/SHARED SERVICE COMMUNITY BENEFIT/COMMUNITY HEALTH INVESTMENT DEPARTMENT TO MEET THE NEEDS IDENTIFIED IN THE CHNA. THE LUBBOCK BASED FACILITIES ARE REFERRED TO COLLECTIVELY AS COVENANT HEALTH LUBBOCK HOSPITALS AND ALL SERVE THE SAME GEOGRAPHIC SERVICE AREA OF WEST TEXAS AND EASTERN NEW MEXICO. ADDITIONALLY, DUE TO OVERLAPPING SERVICE AREAS, CLOSE GEOGRAPHIC PROXIMITY TO ONE ANOTHER, AND SHARED COMMUNITY BENEFIT OUTREACH PROGRAMS, THE COVENANT HEALTH LUBBOCK HOSPITALS WORKED WITH COVENANT HEALTH PLAINVIEW, COVENANT HEALTH LEVELLAND AND COVENANT HOBBS HOSPITAL TO DEVELOP A REGIONAL APPROACH TO MANY OF THEIR 2021-2023 CHIP'S. WHILE THERE ARE SOME DIFFERENCES IN SELECT STRATEGIES AND COMMUNITY PARTNERS, COVENANT MEDICAL CENTER, COVENANT CHILDREN'S, GRACE SURGICAL HOSPITAL, COVENANT SPECIALTY HOSPITAL, COVENANT HEALTH PLAINVIEW, COVENANT HOBBS HOSPITAL, AND COVENANT HEALTH LEVELLAND SHARE MANY SIMILAR OUTREACH STRATEGIES, WHICH ALLOWS FOR MORE EFFECTIVE LEVERAGING INVESTMENTS IN THE REGION TO MEET COMMUNITY NEEDS. COVENANT HOBBS HOSPITAL'S FIRST CHNA OCCURRED IN 2023 HOWEVER, THEY PARTICIPATED IN MANY OUTREACH ACTIVITIES AND INVESTMENTS IN 2023 PRIOR TO COMPLETION OF THEIR CHNA AND CHIP.COVENANT HEALTH HAS A RICH HISTORY IN THE TEXAS/NEW MEXICO REGION. WHILE HEALTH CARE IN OUR REGION HAS CHANGED OVER THE YEARS, OUR COMMITMENT TO FULFILLING OUR MISSION, VISION, VALUES AND PROMISE HAVE NOT WAIVERED. IN 2024, COVENANT HOBBS PROVIDED $5.9M FINANCIAL ASSISTANCE (FREE AND DISCOUNTED CARE) AND $12.3M UNPAID COST OF MEDICAID AND OTHER MEANS-TESTED GOVERNMENT PROGRAMS. COVENANT HOBBS PARTICIPATED IN MANY OUTREACH ACTIVITIES AND INVESTMENTS. EXAMPLES OF COVENANT HOBBS HOSPITAL OUTREACH INCLUDE: HOSTING COMMUNITY BLOOD DRIVES, FREE COMMUNITY HEALTH EDUCATION EVENTS WITH EMPHASIS ON WOMEN'S HEART HEALTH AND BREAST CANCER PREVENTION, STAFF VOLUNTEERING WITH THE RAMPS PROJECT, AND STAFF PARTICIPATED FUNDING RAISING EVENTS TO CONTRIBUTE TO UNITED WAY. GRANT SUPPORT WAS ALSO PROVIDED TO MY POWER, A LOCAL ORGANIZATION DEDICATED TO EMPOWERING LEA COUNTY'S YOUTH TO REACH THEIR FULL INDIVIDUAL POTENTIAL BY DEVELOPING PERSONAL CONFIDENCE, ACADEMIC EXCELLENCE, AND ENHANCED LIFE SKILLS. COVENANT HOBBS ALSO CONTINUED TO PARTNER WITH FAITH IN ACTION BY ASSISTING PERSONS IN NEED OF PRESCRIPTION ASSISTANCE WITH THE APPLICATION PROCESS.ADDITIONALLY, TO ADDRESS FOOD INSECURITY COVENANT HOBBS HOSTED A FOOD DRIVE BENEFITING LOCAL NON-PROFIT, WHI HOBBS AND STAFF VOLUNTEERED AT ISAIAH'S KITCHEN PROVIDING A TOTAL OF 300 MEALS TO FAMILIES IN NEED. COVENANT HEALTH ALSO PROVIDED SPONSORSHIP SUPPORT TO WHI HOBBS TO HELP ADDRESS FOOD NEEDS IN THE COMMUNITY. COVENANT HEALTH ALONG WITH THE PROVIDENCE WELL-BEING TRUST PROVIDED GRANTS TO ORGANIZATIONS SERVING HOBBS AND THE SURROUNDING AREAS WITH A FOCUS ON MENTAL HEALTH AND SUBSTANCE MISUSE. ORGANIZATIONS RECEIVING THIS FUNDING ALL SUPPORT EXPANDED COMMUNITY-BASED ACCESS TO MENTAL HEALTH SERVICES FOR VULNERABLE POPULATIONS. IN 2024, THE FOLLOWING HOBBS/EASTERN NM BASED ORGANIZATIONS RECEIVED MENTAL HEALTH GRANT FUNDING: PALMER DRUG ABUSE PROGRAM, PERMIAN BASIN COUNSELING AND GUIDANCE CENTER, AND GUIDANCE CENTER OF LEA COUNTY. COVENANT HOBBS PARTNERS WITH THESE AGENCIES THROUGHOUT THE YEAR IN ADDITION TO THE FUNDING SUPPORT.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $51,154,488 | $39,769,109 | +0.3% |
| Expenses | $74,114,818 | $59,813,796 | +0.2% |
| Net Income | $-22,960,330 | $-20,044,687 | +0.1% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| BRUCE WHITE | BOARD MEMBER | 0.50 |
Director
|
$0 | $73,911 | $514,499 |
| JAMES KELLY | FRMR OFF. - VP SENIOR CORP COUNSEL | 0.00 |
|
$0 | $13,669 | $509,442 |
| JON LEVIN | BOARD MEMBER | 0.50 |
Director
|
$0 | $17,057 | $425,615 |
| DYANA KERR | FRMR OFF. - REGIONAL CFO | 0.00 |
|
$0 | $38,627 | $375,482 |
| DONALD ANDERSON JR | ASSISTANT SECRETARY FOR ENROLLMENT | 0.50 |
Officer
|
$0 | $18,932 | $335,486 |
| JENNIFER BRYAN | FRMR OFF. - LUBBOCK AREA MARKET/CFO | 0.00 |
|
$0 | $28,590 | $314,564 |
| RACHEL SLADE | CEO | 55.00 |
Officer
|
$260,146 | $22,800 | $282,946 |
| CORA RIVERA | CFO | 18.40 |
Officer
|
$0 | $24,199 | $233,225 |
| KATHLEEN BURRELL | SECRETARY/CHIEF GOVERNANCE OFFICER | 0.50 |
Officer
|
$0 | $15,437 | $180,050 |
| KIMBERLY MADRID | SUPERVISOR CLINICAL PHARMACY | 50.00 |
Highest
|
$163,304 | $10,760 | $174,064 |
| STACY VOYLES | MANAGER NURSING | 50.00 |
Highest
|
$144,784 | $10,802 | $155,586 |
| ALLAN YEH | CLINICAL PHARMACIST | 50.00 |
Highest
|
$148,376 | $4,955 | $153,331 |
| HAZEL APODACA | ACUTE CARE RN | 50.00 |
Highest
|
$143,192 | $8,986 | $152,178 |
| BECKY BERG | MANAGER NURSING | 50.00 |
Highest
|
$142,458 | $9,278 | $151,736 |
| CARABETH GRAY MOORE | BOARD MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| DEBRA HICKS | BOARD MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| JOE COTTON | BOARD MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| JONATHAN SENA | BOARD MEMBER/CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| JOSH GRASSHAM | BOARD MEMBER/VICE CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| ROSA CARILLO | BOARD MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $51,154,488 | $74,114,818 | $113,407,068 | $-22,960,330 |
| 2023 | $39,769,109 | $59,813,796 | $126,687,571 | $-20,044,687 |
| 2022 | $48,687,075 | $48,672,033 | $133,798,245 | $15,042 |
| 2021 | $44,968,348 | $46,933,067 | $41,744,699 | $-1,964,719 |
| 2020 | No data | $107,278 | $3,237,580 | No data |
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