PROVIDENCE PORTLAND MEDICAL FOUNDATION

EIN: 931231494 501(c)(3) Health Care

PORTLAND, OR

Total Revenue
$31,116,107
Total Expenses
$23,486,569
Total Assets
$243,813,197
Net Assets
$234,708,508
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
OR
Principal Officer
CHELSEA SOKOLOW
Phone
5032155546
Tax Period
2023-01-01 to 2023-12-31

PROVIDENCE PORTLAND MEDICAL FOUNDATION, founded in 1981, is a mid-sized nonprofit in the Health Care sector that reported $31.1M in total revenue in fiscal year 2023. Revenue surged 77% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.6M, a strong 25% operating margin.

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: $21,381,015 Revenue: $0

PROVIDENCEAT 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...

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PROVIDENCEAT 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, WA AS 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-REPORT ENVIRONMENTAL, 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.PROVIDENCE PORTLAND MEDICAL FOUNDATION PROVIDES OPERATIONAL AND CAPITAL SUPPORT TO A NUMBER OF HOSPITAL PROGRAMS. THE MAJORITY OF THE FOUNDATION'S ANNUAL FUNDING GOES TO SUPPORT CANCER RESEARCH EFFORTS FOR THE ROBERT W. FRANZ CANCER CENTER AND THE EARLE A. CHILES RESEARCH INSTITUTE. OUR SCIENTISTS CONTINUE TO MAKE DRAMATIC PROGRESS IN THE RACE TO FIND A CURE FOR CANCER USING THE BODY'S OWN IMMUNE SYSTEM. IMMUNOTHERAPY HAS BEEN SHOWN TO BE HIGHLY EFFECTIVE IN SEVERAL TYPES OF ADVANCED CANCERS, INCLUDING LUNG, BLADDER, PANCREATIC, LYMPHOMA, AND KIDNEY CANCERS, AS WELL AS MELANOMA.IN 2023, WE CONTINUED TO SUPPORT GROWTH WITHIN CANCER RESEARCH RAISING OVER $9,000,000 FOR THE RECRUITMENT OF NEW SCIENTISTS AND SUPPORT THE ONGOING NEEDS OF THE CANCER INSTITUTE.THE FOUNDATION LAUNCHED A FUNDRAISING EFFORT TO EXPAND AND TRANSFORM THE EMERGENCY DEPARTMENT AT THE HOSPITAL, RAISING OVER $13M IN 2023. WE EXPANDED OUR SCOPE TO INCLUDE SUPPORT FOR CHILDREN'S HEALTH PRIORITIES; SECURING OVER 1,300,000 IN 2023.THERE WAS CONTINUED FOCUS ON BEHAVORIAL HEALTH PRIORITIES INCLUDING GRANTS TO PROVIDE PROGRAMATIC SUPPORT FOR THE NEW STABILIZATION AND RECOVERY AREA AT THE HOSPITAL. OTHER GRANTS & ALLOCATIONS TO PPMC FOR INTERNAL MEDICINE RESIDENCY PROGRAM, HOSPITALIST PROGRAM, HEART SERVICES, SENIOR HEALTH SERVICES, AND PEDIATRICS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $25,137,661
Program Service Revenue $0
Investment Income $6,345,207
Other Revenue $-366,761
TOTAL REVENUE $31,116,107

Expense Breakdown

Grants Paid $21,381,015
Salaries & Benefits $464,450
Fundraising Expenses $805,620
Program Expenses $21,381,015
Other Expenses $1,641,104
TOTAL EXPENSES $23,486,569

Year-over-Year Comparison

2023 2022 Change
Revenue $31,116,107 $17,555,616 +0.8%
Expenses $23,486,569 $13,358,407 +0.8%
Net Income $7,629,538 $4,197,209 +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
23
Independent Members
23
Employees
N/A
Volunteers
46

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
4
$272,497
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARLENE AUSTINSON DIRECTOR 0.50
Director
$0 $0 $0
BRUCE A SCHOEN DIRECTOR 0.50
Director
$0 $0 $0
C ANDREW GIBSON DIRECTOR 0.50
Director
$0 $0 $0
CAROLYNN LYNN LOACKER DIRECTOR 0.50
Director
$0 $0 $0
CHERYL BRADLEY DIRECTOR 0.50
Director
$0 $0 $0
DANIEL N FORD VICE CHAIR/TREASURER 1.00
Officer Director
$0 $0 $0
ELLEN S GYLLSTROM DIRECTOR 0.50
Director
$0 $0 $0
ERIN MILLER SECRETARY 1.00
Officer Director
$0 $0 $0
F MIKE NUGENT DIRECTOR 0.50
Director
$0 $0 $0
GAYLAND R LOONEY DIRECTOR 0.50
Director
$0 $0 $0
JEFF SCHNABEL DIRECTOR 0.50
Director
$0 $0 $0
JIM REYNOLDS DIRECTOR 0.50
Director
$0 $0 $0
JOHN J DAVIDSON DIRECTOR 0.50
Director
$0 $0 $0
KRISTI RICHARDS DIRECTOR 0.50
Director
$0 $0 $0
MARILYN SHOLIAN DIRECTOR 0.50
Director
$0 $0 $0
MARK KRALJ DIRECTOR 0.50
Director
$0 $0 $0
NANCY C LEMATTA DIRECTOR 0.50
Director
$0 $0 $0
PAUL H LABBY DIRECTOR 0.50
Director
$0 $0 $0
SHAGHAYEGH ALIABADI MD DIRECTOR 0.50
Director
$0 $0 $0
STEPHEN BADER MD DIRECTOR 0.50
Director
$0 $0 $0
STU PETERSON DIRECTOR 0.50
Director
$0 $0 $0
WADE ADEOGUN DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM C KENNEDY CHAIR 1.00
Officer Director
$0 $0 $0
CHELSEA SOKOLOW CHIEF PHILANTHROPY OFFICER 50.00
Officer
$0 $25,715 $272,497
KELLY S BUECHLER FRMR OFF. - OR REG. CPO 0.00
$0 $106,270 $616,563
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 $31,116,107 $23,486,569 $243,813,197 $7,629,538
2022 $17,555,616 $13,358,407 $198,322,059 $4,197,209
2021 $22,077,699 $14,776,520 $219,001,384 $7,301,179
2020 $14,369,066 $17,509,583 $179,555,443 $-3,140,517
2019 $43,722,094 $17,861,018 $171,279,175 $25,861,076
2018 $51,193,004 $15,280,185 $137,411,759 $35,912,819
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