PROVIDENCE MOUNT ST VINCENT FOUNDATION

EIN: 911188119 501(c)(3)

SEATTLE, WA

Total Revenue
$2,535,184
Total Expenses
$3,045,823
Total Assets
$5,090,313
Net Assets
$4,402,547
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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
WA
Principal Officer
MOLLY SWAIN
Phone
2069388994
Tax Period
2024-01-01 to 2024-12-31

PROVIDENCE MOUNT ST VINCENT FOUNDATION, founded in 1982, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $3.0M exceeded revenue, resulting in a 20% operating deficit.

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: $2,519,047 Revenue: $0

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 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, WAIN 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.PROGRAM SERVICE ACCOMPLISHMENTSTHE PROVIDENCE MOUNT ST. VINCENT FOUNDATION SUPPORTED THE CHARITABLE NEEDS OF THOSE RESIDENTS LIVING AT PROVIDENCE MOUNT ST. VINCENT WHO HAVE OUTLIVED THEIR LIFE SAVINGS AND RELY ON CHARITABLE SUPPORT TO CONTINUE TO MAKE THE MOUNT THEIR HOME. THESE RESIDENTS RESIDE THROUGHOUT ALL PROGRAM AREAS INCLUDING LONG TERM CARE 24-HOUR SKILLED NURSING, ASSISTED LIVING AND TRANSITIONAL CARE. MORE THAN 65% OF SKILLED NURSING RESIDENTS AND APPROXIMATELY 35% OF ALL ASSISTED LIVING APARTMENT RESIDENTS HAVE OUTLIVED ALL FINANCIAL RESOURCES. MEDICAID REIMBURSEMENT THROUGH FEDERAL AND STATE GOVERNMENTS ARE INSUFFICIENT TO COVER THE COSTS OF THEIR CARE. GENEROUS DONATIONS TO THE FOUNDATION HELP TO FILL THIS GAP WHICH EXCEEDS $4 MILLION ANNUALLY. IN 2024 MORE THAN $1.9 MILLION IN CHARITABLE SUPPORT WAS PROVIDED TO HELP ENSURE THAT NO RESIDENT WOULD EVER FEAR EVICTION FOR LACK OF ABILITY TO PAY, AS OCCURS IN FOR PROFIT FACILITIES. OF THIS CHARITABLE SUPPORT, MORE THAN 25% WAS GIFTED IN HONOR OF THE SISTERS OF PROVIDENCE DURING THIS CENTENNIAL YEAR FOR PROVIDENCE MOUNT ST. VINCENT. ADDITIONALLY, THE FOUNDATION PROVIDED MORE THAN $300,000 IN FUNDING FOR THE MAJORITY OF RESIDENT ENGAGEMENT PROGRAMMING THROUGH OUR WONDERFUL LIFE FUND. THIS PROGRAMMING COVERS MANY ACTIVITIES INCLUDING ART CLASSES, MUSIC, SPECIAL EVENTS, FIELD TRIPS, SPIRITUAL CARE, WELLNESS CLINIC, EDUCATIONAL PROGRAMMING, INTERGENERATIONAL PROGRAMMING, AND MANY OTHER OFFERINGS TO ENHANCE THE QUALITY OF LIFE FOR ALL WHO MAKE THE MOUNT THEIR HOME.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,362,706
Program Service Revenue $0
Investment Income $282,544
Other Revenue $-110,066
TOTAL REVENUE $2,535,184

Expense Breakdown

Grants Paid $2,519,047
Salaries & Benefits $382,164
Fundraising Expenses $409,985
Program Expenses $2,519,047
Other Expenses $144,612
TOTAL EXPENSES $3,045,823

Year-over-Year Comparison

2024 2023 Change
Revenue $2,535,184 $1,986,391 +0.3%
Expenses $3,045,823 $1,369,114 +1.2%
Net Income $-510,639 $617,277 -1.8%
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
17
Independent Members
14
Employees
N/A
Volunteers
90

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
7
$431,645
Total Directors
18
$1,078,001
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KARINA JENNINGS DIRECTOR 0.50
Director
$0 $70,085 $570,086
PAM GALLAGHER-FELT DIRECTOR 0.50
Director
$0 $3,994 $258,611
MARICOR LIM DR DIRECTOR/COMMITTEE MEMBER 1.00
Officer Director
$0 $27,789 $249,304
MOLLY SWAIN EXECUTIVE DIRECTOR 50.00
Officer
$0 $16,884 $182,341
ANNE ROMANO SAREWITZ TREASURER 1.00
Officer Director
$0 $0 $0
DEANNE ADAMS YELLAM PRESIDENT 1.00
Officer Director
$0 $0 $0
GINNY KANE VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
SHEILA SCHULTZ VICE PRESIDENT - THRU 11/24 1.00
Officer Director
$0 $0 $0
SUSAN WEBB SECRETARY 1.00
Officer Director
$0 $0 $0
ABRAHAM OTOUPAL DIRECTOR 0.50
Director
$0 $0 $0
BOB WITTER DIRECTOR 0.50
Director
$0 $0 $0
CHARLENE HUDSON SP DIRECTOR 0.50
Director
$0 $0 $0
COLLEEN FARRELL DIRECTOR 0.50
Director
$0 $0 $0
JANET HABERBUSH DIRECTOR 0.50
Director
$0 $0 $0
LAURY MILLER DIRECTOR 0.50
Director
$0 $0 $0
MARGARET PURCELL DIRECTOR 0.50
Director
$0 $0 $0
MARY WILLS DIRECTOR (PART YEAR) 0.50
Director
$0 $0 $0
PATRICIA SZABO DIRECTOR 0.50
Director
$0 $0 $0
SUSAN CLARK 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 $2,535,184 $3,045,823 $5,090,313 $-510,639
2023 $1,986,391 $1,369,114 $4,517,409 $617,277
2022 $2,056,450 $1,443,660 $4,218,218 $612,790
2021 $2,494,096 $1,823,353 $6,488,861 $670,743
2020 $1,617,818 $1,573,334 $5,213,058 $44,484
2019 $1,543,214 $1,543,432 $3,825,590 $-218
2018 $1,340,367 $1,718,060 $3,014,154 $-377,693
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