SWEDISH MEDICAL CENTER FOUNDATION

EIN: 910983214 501(c)(3) Health Care

SEATTLE, WA

Total Revenue
$36,544,463
Total Expenses
$25,566,977
Total Assets
$147,400,245
Net Assets
$143,224,987
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
WA
Principal Officer
GREGG SIMPSON
Phone
2062155967
Tax Period
2023-01-01 to 2023-12-31

SWEDISH MEDICAL CENTER FOUNDATION, founded in 1976, is a mid-sized nonprofit in the Health Care sector that reported $36.5M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.0M, a strong 30% operating margin.

Mission

THE FOUNDATION IS COMMITTED TO SUPPORTING THE EFFORTS OF SWEDISH HEALTH SERVICES IN ADVANCING HEALTH CARE IN THE REGION AND MEETING THE HEALTH CARE NEEDS OF THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $17,479,677 Revenue: $0

SWEDISH CANCER INSTITUTE (SCI) IN 2023, PHILANTHROPIC DOLLARS HELPED SUPPORT AND SIGNIFICANTLY ADVANCE CANCER RESEARCH, EDUCATION, PATIENT ASSISTANCE, AND SUPPORTIVE CARE SERVICES. MAJOR RESEARCH...

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SWEDISH CANCER INSTITUTE (SCI) IN 2023, PHILANTHROPIC DOLLARS HELPED SUPPORT AND SIGNIFICANTLY ADVANCE CANCER RESEARCH, EDUCATION, PATIENT ASSISTANCE, AND SUPPORTIVE CARE SERVICES. MAJOR RESEARCH PRIORITIES INCLUDED BREAST CANCER, THORACIC, GYNECOLOGIC, COLORECTAL, HEMATOLOGY AND LUNG CANCERS, AS WELL AS THE TRANSLATIONAL RESEARCH HAPPENING AT THE PAUL G. ALLEN RESEARCH CENTER AT SWEDISH CANCER INSTITUTE. OUR RESEARCH UTILIZES A WIDE ARRAY OF APPROACHES, INCLUDING BUT NOT LIMITED TO ADVANCED DIAGNOSTIC TOOLS SUCH AS GENE EXPRESSION ASSAYS, GENOMIC TUMOR PROFILING, MRI'S, PET/CT SCANS, AND LUNG CANCER SCREENING. AT THE PAUL G. ALLEN RESEARCH CENTER, THE FOCUS WAS ON THE NEXT FRONTIER IN IMMUNOTHERAPIES, GENOMICS AND GENE EXPRESSION, AND EARLY DETECTION AND PREVENTION USING MULTI-OMIC TECHNIQUES. SUPPORTIVE CARE SERVICES SUPPORTED BY PHILANTHROPY INCLUDED ART AND MUSIC THERAPIES, SOCIAL WORK AND COUNSELING, PATIENT ASSISTANCE, AND THE THERESA JANE HEALTHCARE CAREERS TRAINING PROGRAM, WHICH PROVIDE TRAINING AND CAREER OPPORTUNITIES FOR WOMEN FACING HOMELESSNESS.SWEDISH NEUROSCIENCE INSTITUTE (SNI): PHILANTHROPY PROVIDED A CRUCIAL ROLE IN ADVANCING VARIOUS PROGRAMS AND RESEARCH INITIATIVES AT THE SWEDISH NEUROSCIENCE INSTITUTE. FUNDING SUPPORTED THE GENERAL SPINE, MOVEMENT DISORDERS, AND STROKE PROGRAMS. SIGNIFICANT CONTRIBUTIONS WERE DIRECTED TOWARD THE EXPANSION OF THE CATHETERIZATION LABORATORY (CATH LAB), ENHANCING ITS CAPACITY FOR RESEARCH AND CLINICAL TRIALS. DONOR GIFTS ALSO FACILITATED THE PURCHASE OF A NEXT GENERATION NEUROSURGICAL ULTRASOUND THAT HAS TRANSFORMED NEUROSURGICAL PROCEDURES ACROSS A VARIETY OF SPECIALTIES, ESPECIALLY IN BRAIN TUMOR OPERATIONS. THIS NEW EQUIPMENT HELPS GUIDE SURGEONS IN REAL TIME DURING AN OPERATION, INCREASING THE ACCURACY OF TUMOR REMOVAL AND IMPROVING TUMOR MARGINS. ADDITIONALLY, PHILANTHROPY FACILITATED THE ESTABLISHMENT OF NEW CLINIC SPACES FOR NEUROLOGY AND NEUROPSYCHOLOGY STAFF AND PROGRAMS, SPECIFICALLY SUPPORTING THE CENTER FOR HEALTHY AGING AND THE GROWTH OF IMMUNO-ONCOLOGY SERVICES. THE INSTITUTE ALSO ADVANCED PERSONALIZED SMALL THERAPEUTICS, DESIGNED TO ADDRESS UNMET HEALTH NEEDS WITH INDIVIDUALIZED TREATMENT SOLUTIONS. SWEDISH HEART AND VASCULAR INSTITUTE (SHVI): PHILANTHROPY TO THE SWEDISH HEART AND VASCULAR INSTITUTE SUPPORTED ENABLING EXPANDED CLINICAL TRIALS AND RESEARCH THAT PROVIDED PATIENTS WITH ACCESS TO PROMISING INVESTIGATIVE TREATMENTS. FUNDING WAS DIRECTED TOWARD THE CARDIOVASCULAR PERFUSION LAB, WHICH USES HEART PERFUSION SCANS TO DIAGNOSE HEART DISEASE AND ASSESS THE IMPACT OF HEART ATTACKS OR SURGERIES. PHILANTHROPY ALSO SUPPORTED THE PULMONARY EMBOLISM RESPONSE TEAM (PERT), A MULTIDISCIPLINARY TEAM FOCUSED ON OPTIMIZING CARE FOR PATIENTS WITH PULMONARY EMBOLISM, THROUGH CAREGIVER EDUCATION AND SUPPORTIVE CARE SERVICES. ONGOING DEDICATED PHILANTHROPIC SUPPORT CONTINUED TO FUEL THE SWEDISH COMPREHENSIVE ATRIAL FIBRILLATION NETWORK (SCAN). THIS FUNDING HAS FACILITATED SWEDISH CUTTING THE WAIT TIME BETWEEN DIAGNOSIS TO SPECIALIZED CARE APPOINTMENTS IN HALF SINCE THE OPENING OF THIS CLINIC. ADDITIONALLY, EDUCATION ON THE SAFETY AND POTENTIAL BENEFITS OF D-RIBOSE FOR INDIVIDUALS WITH CORONARY ARTERY DISEASE WAS MADE POSSIBLE THROUGH GENEROUS DONATIONS. FINALLY, SPANNING ACROSS ALL AREAS OF SHVI, THE NURSE NAVIGATOR PROGRAM CONTINUES TO MAKE MEASURABLE, POSITIVE ADVANCEMENTS IN PATIENT CARE SWEDISH BEHAVIORAL HEALTH: PHILANTHROPY WAS INSTRUMENTAL IN ADDRESSING BEHAVIORAL HEALTH NEEDS WITHIN THE GREATER PUGET SOUND COMMUNITY. FUNDING SUPPORTED THE POSTDOCTORAL FELLOW PROGRAM AND CAREGIVER TRAINING INITIATIVES. THE SWEDISH PCBH FELLOWSHIP BENEFITTED FROM CONTINUED PHILANTHROPIC INTEREST, WHICH AIDED IN EXPANDING THE PROGRAM AND ENHANCING MENTAL HEALTH AND WELLBEING THROUGHOUT THE COMMUNITY. ADDITIONALLY, DONATIONS SUPPORTED THE TRAINING OF SWEDISH CARE TEAMS AND CAREGIVERS, ENSURING THEY ARE EQUIPPED WITH THE NECESSARY SKILLS AND KNOWLEDGE TO PROVIDE EXCEPTIONAL CARE. SWEDISH WOMEN & CHILDREN'S PROGRAM: PHILANTHROPY WAS CRUCIAL IN SUPPORTING THE SWEDISH WOMEN & CHILDREN'S PROGRAM, PARTICULARLY IN RESPONSE TO CARE SERVICES IMPACTED BY COVID-19 AND THE EXPANSION OF WOMEN'S HOLISTIC HEALTH SERVICES. FUNDING FACILITATED THE GROWTH OF WOMEN'S AND CHILDREN'S RESEARCH, AS WELL AS THE REMODELING OF THE WOMEN'S AND CHILDREN'S AREA AND CONSTRUCTION WORK ON THE LABOR AND DELIVERY WORKROOM. DONATIONS ENABLED THE PURCHASE OF ADVANCED NEONATAL TRANSPORT EQUIPMENT, INCLUDING PORTABLE ISOLETTES EQUIPPED WITH VENTILATORS, MEDICAL AIR, OXYGEN, NITRIC OXIDE, SUCTION, VITAL SIGN MONITORS, PULSE OXIMETRY, CAPNOGRAPHY, AND DEFIBRILLATORS. PHILANTHROPY ALSO PROVIDED TRANSCUTANEOUS BILIRUBINOMETERS FOR DIAGNOSING AND MONITORING INFANT JAUNDICE AND SUPPORTED THE DOULA PROGRAM, WHICH OFFERS EMOTIONAL, PHYSICAL, AND INFORMATIONAL SUPPORT TO NEW AND EXPECTANT PARENTS. SWEDISH DIGESTIVE HEALTH INSTITUTE: IN 2023, PHILANTHROPIC CONTRIBUTIONS SIGNIFICANTLY SUPPORTED THE SWEDISH DIGESTIVE HEALTH INSTITUTE, PARTICULARLY THE COLORECTAL AND THORACIC SURGERY FELLOWSHIP PROGRAMS AND THE GASTROENTEROLOGY NURSE EDUCATION PROGRAM. THE SWEDISH ORGAN TRANSPLANT PATIENT ASSISTANCE FUND BENEFITTED FROM THESE CONTRIBUTIONS, PROVIDING CRUCIAL ASSISTANCE WITH TRAVEL AND LODGING COSTS FOR TRANSPLANT PATIENTS. ADDITIONALLY, PHILANTHROPY ENABLED THE USE OF INTESTINAL ULTRASOUNDS, OFFERING HIGHLY ACCURATE IMAGES OF THE BOWEL TO HELP DOCTORS AND PATIENTS BETTER UNDERSTAND THE CAUSES OF SYMPTOMS. NURSING: IN 2023, PHILANTHROPIC CONTRIBUTIONS TO THE SWEDISH NURSING PROGRAM FOCUSED ON ADDRESSING CAREGIVER WELLNESS IN RESPONSE TO STAFF TURNOVER AND BURNOUT DUE TO ONGOING PANDEMIC DEMANDS. FUNDING SUPPORTED TRAINING RETREATS TO AID NURSES IN THEIR PROFESSIONAL DEVELOPMENT AND PROVIDED SCHOLARSHIPS FOR THOSE PURSUING FURTHER EDUCATION. ADDITIONALLY, PHILANTHROPY FACILITATED THE PROVIDENCE ENDOSCOPY COURSE, OFFERING EDUCATION AND TRAINING ON THE ENDOSCOPIC MANAGEMENT OF GASTROINTESTINAL DISORDERS. TO FURTHER SUPPORT THE WELL-BEING AND RESILIENCE OF HEALTHCARE WORKERS, DONATIONS HELPED ESTABLISH A RESPITE ROOM, PROVIDING A DEDICATED SPACE FOR STAFF TO STEP AWAY FROM WORK AND RECHARGE. HEALTH EQUITY, DIVERSITY, AND INCLUSION: DONATIONS DESIGNATED TO THE OFFICE OF HEALTH EQUITY, DIVERSITY, AND INCLUSION AT SWEDISH FOSTERED AN INCLUSIVE ENVIRONMENT FOR ALL PATIENTS, VISITORS, AND CAREGIVERS. CONTRIBUTIONS FOCUSED ON ELEVATING HEALTH EQUITY, DIVERSITY, AND INCLUSION INITIATIVES, WITH AN EMPHASIS ON WORKFORCE DEVELOPMENT ACROSS VARIOUS AREAS, ENSURING THAT SWEDISH HOSPITALS AND CLINICS CONTINUE TO PROVIDE EQUITABLE AND INCLUSIVE CARE. FOR EXAMPLE, THE MEHARRY SWEDISH PARTNERSHIP HELPED US ATTRACT AND RECRUIT A MORE DIVERSE WORKFORCE. DURING THEIR TIME WITH US, MEDICAL STUDENTS MOVE THROUGH GENERAL SURGERY ROTATIONS AND RECEIVE FINANCIAL ASSISTANCE FOR TRANSPORTATION, HOUSING, AND LIVING EXPENSES. FUND FOR EXCELLENCE: PHILANTHROPIC CONTRIBUTIONS TO THE GENERAL FUND FOR EXCELLENCE WERE INSTRUMENTAL IN ENSURING HIGH-QUALITY CARE ACROSS ALL AREAS OF THE SWEDISH MEDICAL CENTER CARE CONTINUUM. FUNDING SUPPORTED THE WORKPLACE SAFETY K9 PROGRAM, WHICH ENHANCES SAFETY BY DETECTING DANGEROUS ITEMS SUCH AS WEAPONS, DRUGS, AND BOMBS. PHILANTHROPY ALSO FACILITATED LEADERSHIP RETREATS, PROMOTING PERSONAL GROWTH AND PROFESSIONAL DEVELOPMENT AMONG STAFF. ADDITIONALLY, THE TAKE HAND HYGIENE BY STORM PROGRAM RECEIVED SUPPORT TO RAISE AWARENESS ABOUT PROPER HYGIENE PRACTICES, AIMING TO PREVENT ILLNESS AND IMPROVE OVERALL HEALTH OUTCOMES.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $21,261,468
Program Service Revenue $0
Investment Income $15,282,995
Other Revenue $0
TOTAL REVENUE $36,544,463

Expense Breakdown

Grants Paid $17,479,677
Salaries & Benefits $5,867,849
Fundraising Expenses $5,228,624
Program Expenses $17,479,677
Other Expenses $2,219,451
TOTAL EXPENSES $25,566,977

Year-over-Year Comparison

2023 2022 Change
Revenue $36,544,463 $29,716,152 +0.2%
Expenses $25,566,977 $27,525,732 -0.1%
Net Income $10,977,486 $2,190,420 +4.0%
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
14
Independent Members
11
Employees
N/A
Volunteers
20

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
6
$2,503,352
Total Directors
16
$8,892,090
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GUY HUDSON MD BOARD MEMBER - THRU 9/23 0.50
Director
$0 $39,652 $6,195,258
ELIZABETH WAKO BOARD MEMBER (PART YEAR) 0.50
Director
$0 $216,216 $1,830,396
MARYBETH FORMBY TREASURER/CFO 1.00
Officer
$0 $128,697 $1,291,514
SARA JO GRETHLEIN MD BOARD MEMBER 0.50
Director
$0 $132,145 $855,816
HILARY DOMEIKA SECRETARY/SR CORP COUNCIL 1.00
Officer
$0 $91,412 $757,486
BETSY VO FRMR OFF. - DIV SENIOR CORP COUNSEL 0.00
$0 $92,726 $666,172
ANDREA KING VICE PRES., PHIL. SVS. - THRU 10/23 50.00
Officer
$0 $51,947 $332,021
TRACY OSTREM FRMR PRESIDENT/CDO 0.00
$0 $0 $259,541
GREGG SIMPSON CHIEF PHILANTHROPY OFF. (PART YEAR) 1.00
Officer
$0 $13,148 $122,331
STAN MOSER FRMR INTERIM TREASURER 0.00
$0 $427 $117,993
PEPPER EUGENE TOOMEY MD BOARD MEMBER 0.50
Director
$0 $270 $10,620
CARLA MILLAGE BOARD MEMBER 0.50
Director
$0 $0 $0
CHUCK LYTLE BOARD VICE CHAIR 1.00
Officer Director
$0 $0 $0
CONNIE WONG BOARD MEMBER 0.50
Director
$0 $0 $0
JESSICA HUGHES BOARD CHAIR 1.00
Officer Director
$0 $0 $0
KATHLEEN WRIGHT BOARD MEMBER 0.50
Director
$0 $0 $0
LYNN MANLEY BOARD MEMBER 0.50
Director
$0 $0 $0
MARILYN VALENTINE BOARD MEMBER 0.50
Director
$0 $0 $0
PETER CRAMER BOARD MEMBER 0.50
Director
$0 $0 $0
RICK CANTU BOARD MEMBER - THRU 3/23 0.50
Director
$0 $0 $0
RONALD BERENSTAIN BOARD MEMBER 0.50
Director
$0 $0 $0
TANYA SORENSEN MD BOARD MEMBER 0.50
Director
$0 $0 $0
TERRY LUNDEEN 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 $36,544,463 $25,566,977 $147,400,245 $10,977,486
2023 $36,544,463 $25,566,977 $147,400,245 $10,977,486
2022 $29,716,152 $27,525,732 $135,394,870 $2,190,420
2021 $36,132,164 $28,306,624 $149,925,707 $7,825,540
2020 $23,074,936 $25,608,818 $137,774,938 $-2,533,882
2019 $26,543,615 $18,214,418 $133,585,121 $8,329,197
2018 $39,523,050 $14,481,959 $114,362,223 $25,041,091
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