FRED HUTCHINSON CANCER CENTER

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

DR THOMAS LYNCH JR

Phone

2066675000

Tax Period

2023-07-01 to 2024-06-30

FRED HUTCHINSON CANCER CENTER, founded in 1998, is a large national nonprofit in the Health Care sector that reported $2.0B in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

Mission

FRED HUTCH CANCER CENTER ("FRED HUTCH") UNITES INNOVATIVE RESEARCH AND COMPASSIONATE CARE TO PREVENT AND ELIMINATE CANCER AND INFECTIOUS DISEASE. WE'RE DRIVEN BY THE URGENCY OF OUR PATIENTS, THE HOPE OF OUR COMMUNITY AND OUR PASSION FOR DISCOVERY TO PURSUE SCIENTIFIC

Program Service Accomplishments

Program 1

Expenses: $1,068,803,674 Revenue: $1,339,197,609

CLINICAL CARE:FRED HUTCH'S FOCUS IS SPEEDING THE TRANSFER OF NEW DIAGNOSTIC AND TREATMENT TECHNIQUES FROM THE RESEARCH SETTING TO PATIENT CARE. THE HIGHLY INTEGRATED APPROACH TO CANCER RESEARCH AND TREATMENT SUPPORTS THE FLOW OF SCIENTIFIC INFORMATION FROM RESEARCHERS AND THE LAB TO CLINICIANS AND PATIENTS, THEREBY ACCELERATING THE DEVELOPMENT OF NEW KNOWLEDGE AND TREATMENT FOR VARIOUS CANCERS. DURING THE FISCAL YEAR, FRED HUTCH HAD 3,727 PATIENT DAYS, 65,032 OUTPATIENT CLINIC VISITS, 95,774 INFUSION HOURS, 10,917 RADIATION ONCOLOGY TREATMENTS, AND PERFORMED 48,604 IMAGING SCANS. OUR CARE TEAMS SERVED MORE THAN 63,000 PATIENTS IN THE FISCAL YEAR.AS PART OF FRED HUTCH'S COMMITMENT TO ADVANCING THE STANDARD OF CANCER CARE, WE OFFER MANY EDUCATIONAL OPPORTUNITIES FOR HEALTH CARE PROFESSIONALS OF ALL KINDS SEEKING SPECIALIZED KNOWLEDGE IN ONCOLOGY SETTINGS TO EARN CONTINUING EDUCATION CREDITS. FRED HUTCH IS DESIGNATED AS AN INSTRUCTIONAL SITE FOR BACHELOR AND ADVANCED DEGREE CANDIDATES FROM SEVERAL INSTITUTIONS AROUND THE PUGET SOUND AREA. FRED HUTCH EDUCATION AND TRAINING OPPORTUNITIES ARE AVAILABLE TO PEOPLE LIKE PROVIDERS AND NURSES, PATIENTS AND CAREGIVERS, FACULTY, GRADUATE STUDENTS AND POSTDOCTORAL AND MEDICAL FELLOWS. THERE ARE ALSO INTERNSHIPS AND PROGRAMS FOR SECONDARY SCHOOL TEACHERS, AS WELL AS HIGH SCHOOL AND UNDERGRADUATE STUDENTS. IN FY24, THERE WERE APPROXIMATELY 300 TRAINEES AT FRED HUTCH INCLUDING GRADUATE STUDENTS AND POSTDOCTORAL AND CLINICAL FELLOWS.FRED HUTCH OFFERS TEMPORARY MEDICAL LODGING FACILITIES FOR PATIENTS AND FAMILIES WHILE THEY RECEIVE ACTIVE TREATMENT AT FRED HUTCH. THEIR TWO AVAILABLE FACILITIES ARE THE BEHNKE FAMILY HOUSE AND THE PETE GROSS HOUSE. LODGING OPTIONS CAN ACCOMMODATE EITHER SHORT-TERM OR LONG-TERM (30 NIGHT MINIMUM) STAYS AS MEDICALLY NECESSARY TO KEEP PATIENTS CLOSE DURING THEIR TREATMENT AT FRED HUTCH. FRED HUTCH PROVIDES TRANSPORTATION TO AND FROM BOTH FACILITIES THROUGH THE SOUTH LAKE UNION CLINIC.

Program 2

Expenses: $722,224,574 Revenue: $15,400,093

RESEARCH PROGRAM: FRED HUTCH RESEARCHERS HAVE ADVANCED HUMAN UNDERSTANDING ACROSS A WIDE RANGE OF AREAS, REFLECTING THE BREADTH AND DEPTH OF EXPERTISE AT FRED HUTCH THAT ALLOWS US TO DEVELOP...

RESEARCH PROGRAM: FRED HUTCH RESEARCHERS HAVE ADVANCED HUMAN UNDERSTANDING ACROSS A WIDE RANGE OF AREAS, REFLECTING THE BREADTH AND DEPTH OF EXPERTISE AT FRED HUTCH THAT ALLOWS US TO DEVELOP POTENTIAL CURES FOR CANCER AND INFECTIOUS DISEASES. OUR TEAMS ALSO APPLIED ARTIFICIAL INTELLIGENCE AND OTHER NOVEL APPROACHES TO MATCH EXISTING TREATMENTS TO DIAGNOSES OR BETTER UNDERSTAND HOW CANCER MAY BE IMPACTING INDIVIDUALS IN DIFFERENT WAYS.FRED HUTCH SCIENTISTS ARE PRODUCING SOME OF THE MOST IMPORTANT BREAKTHROUGHS IN THE PREVENTION, EARLY DETECTION AND TREATMENT OF CANCER, HIV AND OTHER DISEASES. OUR SCIENTISTS STUDY EVERY ASPECT OF THE DISEASE PROCESS TO UNCOVER FACTORS THAT INFLUENCE DISEASE RISK AND PROGRESSION. FRED HUTCH HAS BEEN HOME TO THREE NOBEL LAUREATES, AND OUR FACULTY INCLUDES MORE THAN 400 RENOWNED RESEARCHERS WHO COLLABORATE WITH COLLEAGUES ACROSS THE GLOBE AND MENTOR THE NEXT GENERATION OF SCIENTIFIC INNOVATORS. OUR SCIENTISTS CONDUCT RESEARCH ON AND DEVELOP THERAPIES FOR MANY CANCERS INCLUDING BLOOD CANCERS AND SOLID TUMORS AS WELL AS FOR HIV AND OTHER NONMALIGNANT DISEASES. THEY STUDY THE DISEASE PROCESS FROM EVERY ANGLE, FROM THE MOST BASIC MOLECULAR AND CELLULAR LEVELS TO THE POPULATION LEVEL. THEIR GOALS ARE TO UNCOVER THE FACTORS THAT INFLUENCE A PERSON'S LIKELIHOOD OF DEVELOPING AND SURVIVING A DISEASE AND USE THIS KNOWLEDGE TO REDUCE RISK, SAVE LIVES AND IMPROVE QUALITY OF LIFE. FRED HUTCH RESEARCHERS ARE EXPERTS IN UNDERSTANDING THE DEVELOPMENT OF BLOOD AND SOLID TUMOR CANCERS AS WELL AS IDENTIFYING NEW WAYS TO DIAGNOSE, PREVENT AND TREAT CANCERS. THEIR RESEARCH INCLUDES A WIDE AREA OF TOPICS THAT AFFECT CANCER AND INFECTIOUS DISEASES SUCH AS BEHAVIORAL RESEARCH, CELL AND GENE THERAPY, DATA SCIENCE, DISEASE PREVENTION, HEALTH ECONOMICS, VIROLOGY, AND MORE. IN FY24, FRED HUTCH RESEARCHERS PUBLISHED 1,330 RESEARCH ARTICLES AND 48 PATENTS WERE GRANTED TO FRED HUTCH. FRED HUTCH RESEARCH PROGRAMS INTEGRATE THE LATEST IN COMPUTATIONAL, LABORATORY AND PATIENT-ORIENTED CLINICAL RESEARCH METHODS TO BETTER UNDERSTAND THE MECHANISMS THAT DRIVE CANCER AND OTHER HUMAN DISEASES. OUR RESEARCHERS ARE CONTINUALLY DEVELOPING NEW THERAPEUTIC APPROACHES AND THEY DEVELOP AND LEAD CLINICAL TRIALS THAT HELP MOVE LABORATORY DISCOVERIES INTO NEW TREATMENT OPTIONS FOR PATIENTS. OUR DISCOVERIES, WHICH INCLUDE PROVING THAT BONE MARROW TRANSPLANTATION CAN CURE LEUKEMIAS AND OTHER BLOOD CANCERS, HAVE SAVED MORE THAN A MILLION LIVES WORLDWIDE.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $630,655,652

Program Service Revenue $1,354,597,702

Investment Income $24,750,936

Other Revenue $17,042,381

TOTAL REVENUE $2,027,046,671

Expense Breakdown

Grants Paid $120,169,153

Salaries & Benefits $754,924,414

Fundraising Expenses $24,861,229

Program Expenses $1,791,028,248

Other Expenses $1,189,362,059

TOTAL EXPENSES $2,064,743,953

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,027,046,671	$2,322,795,971	-0.1%
Expenses	$2,064,743,953	$1,951,660,593	+0.1%
Net Income	$-37,697,282	$371,135,378	-1.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

6797

Volunteers

614

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

$6,964,938

Total Directors

$3,750,661

Key Employees

$4,251,622

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS J LYNCH MD	PRESIDENT & DIRECTOR	55.00	Officer Director	$2,028,077	$364,136	$2,392,213
NANCY DAVIDSON MD	EVP, CLINICAL AFFAIRS	55.00	Director	$1,198,547	$159,901	$1,358,448
LEIGH MORGAN	CHAIR	4.00	Officer Director	$0	$0	$0
RICHARD ANDERSON	VICE-CHAIR(FROM 1/24)	4.00	Officer Director	$0	$0	$0
SEAN BOYLE	VICE-CHAIR(THRU 1/24), DIRECTOR	2.00	Officer Director	$0	$0	$0
KRISTIANNE BLAKE	TREASURER	4.00	Officer Director	$0	$0	$0
JULIE NORDSTROM	SECRETARY	4.00	Officer Director	$0	$0	$0
BRADLEY SIMMONS	DIRECTOR(FROM 8/23)	2.00	Director	$0	$0	$0
CHERYL M SCOTT	DIRECTOR (BEG 4/24)	2.00	Director	$0	$0	$0
CYNTHIA DOLD	DIRECTOR(THRU 8/23)	2.00	Director	$0	$0	$0
EDUARDO PENALVER	DIRECTOR	2.00	Director	$0	$0	$0
JOANNE HARRELL	DIRECTOR	2.00	Director	$0	$0	$0
KATHY SURACE-SMITH	DIRECTOR	2.00	Director	$0	$0	$0
PETE SHIMER	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN GRAHAM	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY H DELLIT MD	DIRECTOR	2.00	Director	$0	$0	$0
NICOLE C ROBINSON PHD	VP & COO	55.00	Officer	$1,153,027	$162,054	$1,315,081
DAVID BROWDY	VP & CFO	54.00	Officer	$1,115,822	$171,675	$1,287,497
STEVEN HAYDON	VP & GENERAL COUNSEL(THRU 2/24)	55.00	Officer	$812,745	$73,528	$886,273
GERIANNE SANDS	CORP SEC., VP&GEN. COUNSEL(BEG 2/24)	55.00	Officer	$365,941	$62,781	$428,722
CHRIS BUNDESMANN	CORPORATE CONTROLLER	54.00	Officer	$288,955	$50,244	$339,199
HERBERT L BONE III	CORPORATE TREASURER	55.00	Officer	$258,649	$57,304	$315,953
BRUCE E CLURMAN MD PHD	EVP, CHIEF SCI. OFFICER & DEPUTY DIRECTOR	55.00	Key Emp	$961,057	$147,503	$1,108,560
FREDERICK APPELBAUM MD	EXECUTIVE VICE PRESIDENT	55.00	Key Emp	$771,543	$141,975	$913,518
TOM PURCELL MD	VP & CHIEF MEDICAL OFFICER	55.00	Key Emp	$661,932	$137,970	$799,902
KELLY O'BRIEN	VP & CHIEF PHILANTHROPY OFFICER	55.00	Key Emp	$621,488	$136,478	$757,966
THERESA MCDONNELL DNP	VP & CHIEF NURSING OFFICER(THRU 9/23)	55.00	Key Emp	$608,583	$63,093	$671,676
SARA HURVITZ MD	SVP & DIRECTOR, CLINICAL RESEARCH	55.00	Highest	$1,057,788	$58,156	$1,115,944
ERIC C HOLLAND MD PHD	SVP & DIRECTOR, HUMAN BIOLOGY	55.00	Highest	$803,616	$144,143	$947,759
KELLY PATRICK	VP & CIO	55.00	Highest	$761,873	$56,627	$818,500
GEOFFREY HILL MD	SVP & DIRECTOR, TRANSLATIONAL SCI	55.00	Highest	$718,444	$137,250	$855,694
JODI BURKE	VP, HUMAN RESOURCES	55.00	Highest	$640,821	$132,867	$773,688
STEPHANIE MAYS	FORMER OFFICER	55.00		$512,712	$68,204	$580,916
CHAD HOGGARD	FORMER KEY EMPLOYEE	55.00		$368,825	$70,387	$439,212
CINDY GIST MHA	FORMER KEY EMPLOYEE	55.00		$354,803	$87,573	$442,376
NICKI NGUYEN-COLVIN	FORMER KEY EMPLOYEE	55.00		$327,282	$64,843	$392,125
BRITTANY MCCREERY MD	FORMER KEY EMPLOYEE	55.00		$320,868	$107,709	$428,577
RICHARD LAFRANCE	FORMER KEY EMPLOYEE	55.00		$276,203	$65,984	$342,187
DANIEL MARKUS	FORMER KEY EMPLOYEE	55.00		$270,742	$33,752	$304,494
MICHELLE HALL	FORMER KEY EMPLOYEE	55.00		$258,875	$52,093	$310,968
TIMOTHY EHLING	FORMER KEY EMPLOYEE	55.00		$252,017	$60,849	$312,866
PAUL HELMUTH	FORMER KEY EMPLOYEE	55.00		$240,299	$34,345	$274,644
GANSUVD BALGANSUREN	FORMER KEY EMPLOYEE	55.00		$233,728	$49,429	$283,157
MATTHEW MCSWEYN	FORMER KEY EMPLOYEE	55.00		$227,577	$45,212	$272,789
CARILLA WALLIN	FORMER KEY EMPLOYEE	55.00		$216,323	$49,736	$266,059
TAMI DEEB	FORMER KEY EMPLOYEE	55.00		$205,480	$22,814	$228,294
ANDREW JACKSON	FORMER KEY EMPLOYEE	55.00		$163,218	$31,001	$194,219

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
2025	No data	No data	No data	No data
2024	$2,027,046,671	$2,064,743,953	$3,453,149,919	$-37,697,282
2023	$2,322,795,971	$1,951,660,593	$3,407,176,412	$371,135,378
2022	$1,283,961,922	$1,134,529,429	$2,999,831,201	$149,432,493
2021	$940,996,725	$841,344,866	$1,535,470,671	$99,651,859
2020	$820,892,125	$735,653,659	$1,020,161,042	$85,238,466
2019	$757,282,570	$684,323,509	$753,310,466	$72,959,061
2018	$653,487,789	$610,353,946	$647,980,104	$43,133,843