PROVIDENCE ST VINCENT MEDICAL FOUNDATION

EIN: 930575982 501(c)(3) Health Care

PORTLAND, OR

Total Revenue
$36,155,398
Total Expenses
$30,854,446
Total Assets
$317,048,818
Net Assets
$309,505,008
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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
OR
Principal Officer
KEVIN FINN
Phone
5032162227
Tax Period
2023-01-01 to 2023-12-31

PROVIDENCE ST VINCENT MEDICAL FOUNDATION, founded in 1969, is a mid-sized nonprofit in the Health Care sector that reported $36.2M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $30.9M left a modest 15% surplus.

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: $29,577,563 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 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.PROGRAM SERVICE ACCOMPLISHMENTSFUNDING OF OPERATIONS AT PROVIDENCE ST VINCENT MEDICAL CENTER AND PH&S-OREGON. THIS INCLUDES OVER $15.6 MILLION FOR AN EXPANSION OF THE EMERGENCY DEPARTMENT WHICH IS THE BUSIEST IN THE CITY. $4.4 MILLION FOR THE HEART INSTITUTE INCLUDING SUPPORT OF THE HEART TRANSPLANT PROGRAM, AND $675,000 FOR NURSING ADMINISTRATION, IN ADDITION TO HELPING SUPPORT THE DAY-TO-DAY OPERATIONS OF THE ST VINCENT MEDICAL CENTER AND EXPENSES PAID ON THE MEDICAL CENTER'S BEHALF.NURSING SCHOLARSHIPS AND LOANS FOR FUTURE NURSES WORKING AT PROVIDENCE.FINANCIAL ASSISTANCE TO BREAST CANCER PATIENTS, AS WELL AS SUPPORT FOR CANCER, HEART, ORTHOPEDIC, AND MULTIPLE SCLEROSIS RESEARCH.

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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 $24,554,571
Program Service Revenue $0
Investment Income $10,564,165
Other Revenue $1,036,662
TOTAL REVENUE $36,155,398

Expense Breakdown

Grants Paid $29,577,563
Salaries & Benefits $380,593
Fundraising Expenses $181,717
Program Expenses $29,577,563
Other Expenses $896,290
TOTAL EXPENSES $30,854,446

Year-over-Year Comparison

2023 2022 Change
Revenue $36,155,398 $46,532,130 -0.2%
Expenses $30,854,446 $14,535,595 +1.1%
Net Income $5,300,952 $31,996,535 -0.8%
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
27
Independent Members
27
Employees
N/A
Volunteers
75

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
$299,270
Total Directors
27
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEVIN FINN EXECUTIVE DIRECTOR 50.00
Officer
$0 $46,991 $299,270
DON VOLLUM PRESIDENT 1.00
Officer Director
$0 $0 $0
BARBARA PALMER VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
LORIE TEKORIUS IMMEDIATE PAST PRESIDENT 1.00
Officer Director
$0 $0 $0
GREG SPECHT SECRETARY 1.00
Officer Director
$0 $0 $0
LESLI OWENS TREASURER 1.00
Officer Director
$0 $0 $0
BARBARA BLAKELY TRUSTEE 0.50
Director
$0 $0 $0
BILL WESTPHAL TRUSTEE 0.50
Director
$0 $0 $0
DAVE NUTE TRUSTEE 0.50
Director
$0 $0 $0
DEBBIE MADDEN TRUSTEE 0.50
Director
$0 $0 $0
ED JENSEN TRUSTEE 0.50
Director
$0 $0 $0
FLO NEWTON MERLO TRUSTEE 0.50
Director
$0 $0 $0
GAIL JUBITZ TRUSTEE 0.50
Director
$0 $0 $0
JANEEN MCANINCH TRUSTEE 0.50
Director
$0 $0 $0
JIM PRICE TRUSTEE 0.50
Director
$0 $0 $0
LINDSEY WILLIAMS TRUSTEE 0.50
Director
$0 $0 $0
MARY BEATTIE TRUSTEE 0.50
Director
$0 $0 $0
PAUL OLDSHUE TRUSTEE 0.50
Director
$0 $0 $0
PAULA KINNEY TRUSTEE 0.50
Director
$0 $0 $0
RUTH TARR TRUSTEE 0.50
Director
$0 $0 $0
TAMMY WITCOSKY TRUSTEE 0.50
Director
$0 $0 $0
TIM RYAN TRUSTEE 0.50
Director
$0 $0 $0
TOM MEAGHERR TRUSTEE 0.50
Director
$0 $0 $0
TOM MULFLUR TRUSTEE 0.50
Director
$0 $0 $0
WALTER BOWEN TRUSTEE 0.50
Director
$0 $0 $0
WARREN ROSENFELD TRUSTEE 0.50
Director
$0 $0 $0
WERNER NISTLER TRUSTEE 0.50
Director
$0 $0 $0
YOUSSEF EL-MANSY TRUSTEE 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 $36,155,398 $30,854,446 $317,048,818 $5,300,952
2022 $46,532,130 $14,535,595 $293,045,683 $31,996,535
2021 $42,114,354 $14,930,488 $302,625,014 $27,183,866
2020 $24,664,249 $12,513,321 $257,840,404 $12,150,928
2019 $19,017,525 $11,747,977 $224,788,284 $7,269,548
2018 $16,436,805 $12,800,763 $192,393,932 $3,636,042
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