SUTTER BAY MEDICAL FOUNDATION

EIN: 941156581 501(c)(3) Medical Research

SACRAMENTO, CA

Total Revenue
$3,512,110,848
Total Expenses
$3,448,939,377
Total Assets
$2,091,271,174
Net Assets
$1,190,345,050
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Financial Trends

Organization Details

Formation Year
1948
Legal Domicile
CA
Principal Officer
TODD SMITH MD
Phone
9162866665
Tax Period
2023-01-01 to 2023-12-31

SUTTER BAY MEDICAL FOUNDATION, founded in 1948, is a large national nonprofit in the Medical Research sector that reported $3.5B in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

MISSION STATEMENT: MISSION: CARING FOR OUR PATIENTS FIRST AND OUR PEOPLE ALWAYS. VISION: TO BE THE MOST COMPREHENSIVE, INTEGRATED AND CONNECTED HEALTH SYSTEM FOR GETTING AND STAYING WELL. VALUES: EXCELLENCE - We deliver high-quality, equitable care and take on the toughest challenges. CURIOSITY - We are constantly learning and creating new ways to advance healthcare. TEAMWORK - We collaborate with humility and solve for ONE Sutter. COMPASSION - We show empathy and understanding in every personal interaction. INCLUSION - We respect our differences and similarities, and cultivate a sense of belonging. INTEGRITY - We earn trust by doing the right thing and delivering on our commitments.

Program Service Accomplishments

Program 1
Expenses: $3,162,648,515 Revenue: $3,463,808,027

PROGRAM SERVICE ACCOMPLISHMENTS: Sutter Bay Medical Foundation (SBMF) is a not-for-profit health care organization that is a pioneer in both multispecialty group practice of medicine and outpatient...

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PROGRAM SERVICE ACCOMPLISHMENTS: Sutter Bay Medical Foundation (SBMF) is a not-for-profit health care organization that is a pioneer in both multispecialty group practice of medicine and outpatient medicine. Serving communities throughout Northern California, Sutter Health is a regional leader in primary care and specialty care and is a pioneer in advanced patient safety technology. In 1993, Palo Alto Medical Foundation (PAMF) affiliated with Sutter Health, a family of not-for-profit hospitals and physician organizations that share resources and expertise to advance health care quality. In 2016, Sutter began the process of merging Bay Area medical foundations to form SBMF. In August 2017, Sutter West Bay Medical Foundation (SWBMF) and Sutter East Bay Medical Foundation (SEBMF) merged into SBMF. In 2008, the physicians of the former Camino Medical Group, Palo Alto Medical Clinic and Santa Cruz Medical Clinic merged into a single physician group called the Palo Alto Foundation Medical Group (PAFMG) to contract with PAMF to provide physician services and in 2010, a new multispecialty physician group, Peninsula Medical Clinic (PMC), was formed. In 2017 PMC merged into PAFMG, creating a single physician group. In addition, in 2017 as part of the merger of SWBMF and SEBMF into SBMF, East Bay Physicians Medical Group (EBPMG), Sutter Medical Group of the Redwoods, Inc., Physician Foundation Medical Associates, Inc. and Marin Headlands Medical Group, Inc. contracted with SBMF to provide physician services. In 2023, SBMF's 1,700 affiliated physicians and 7,379 employees served 1,207,365 patients through 8,681,596 patient visits, outpatient surgeries, and urgent care visits. SBMF's mission is to enhance the well-being of the people in our communities through compassion, excellence and innovation in health care services, research and education. SBMF has three divisions: 1. Health Care 2. Education 3. Research Health Care Division SBMF's Health Care Division consists of five service areas: 1. Peninsula Area, serving San Mateo, Santa Clara counties 2. South Bay Area, serving Santa Clara County 3. Santa Cruz Area, serving Santa Cruz County 4. East Bay Area, serving Alameda and Contra Costa counties 5. Sonoma and San Francisco Area, serving Sonoma, Marin and San Francisco counties These service areas offer more than 45 medical specialties, a full range of medical services, and state-of-the-art technology. This technology includes the most advanced diagnostic imaging and treatment devices, an electronic health record system, three licensed acute-care facilities, and one accredited home health agency. SBMF's advanced capabilities and emphasis on outpatient care allow physicians and staff to minimize hospitalization of patients, reducing the overall cost of medical care significantly while maintaining the highest quality of care for patients. SBMF continues to expand and integrate services through efforts such as transplant and advanced organ therapies outreach clinics to provide care at all phases of the kidney, liver, and pancreas transplant process for patients across Northern California and Nevada. The teams coordinate care in local communities while the transplant event takes place at Sutter Health's California Pacific Medical Center in San Francisco. As part of its commitment to serving its community, SBMF provides care to medically indigent patients and those enrolled in Medicare, Medi-Cal, and other government programs whose reimbursements fall short of covering the cost of providing care. There are a total of 198 clinic across SBMF's service areas to further its commitment to serving its community, 21 within Peninsula, 24 within South Bay, 18 within Santa Cruz, 17 within East Bay and 105 within Sonoma and San Francisco. Recent Achievements . PAMF honored as a Top Ten Percent organization in Clinical Quality by Integrated Health Association Align Measure Perform program (IHA AMP) for our 2022 (most recent) measurement year performance. . PAMF honored as a Top Ten Percent organization in Patient Experience by Integrated Health Association Align Measure Perform program (IHA AMP) for our 2022 (most recent) measurement year performance. . Several PAMF ASCs rank in the Top 15% in California by Newsweek for 2023. (Mountain View ranks #6, Palo Alto ranks #12) . SBMF achieved Exceptional Performer (top rating) in CMS Quality Payment Program (MIPS) based on our 2022 performance . Palo Alto Medical Foundation was recognized by the Healthcare Equality Index as an LGBTQ+ Healthcare Equality Leader. This two-year designation recognizes healthcare providers who uphold policies and practices dedicated to the equitable treatment and inclusion of LGBTQ+ patients, visitors and employees. . Palo Alto Foundation Medical Group received 4.5 star rating for its overall 2022 (most recent) care of Medicare Advantage (MA) patients, as publicly reported on the Integrated Healthcare Association's (IHA) website program. . California's Office of the Patient Advocate (OPA) awards their top rating (5 stars) to PAMF-PAFMG for patient experience and 5 stars for quality in all 4 counties that we serve. . PAMF Scores in Top 10 Percent for multiple domains in the state for patient satisfaction according to our 2023 Patient Assessment Survey. 85% of the domains we score in the top quintile in the State. Participants are over 180 provider groups in California. . PAFMG exceeds the 2023 Sutter Best Practice Target on Quality with 68% metrics above 90th percentile performance Research Division The PAMF Research Institute is a nationally recognized, highly renowned research institute that continues to lead and is committed to quality research. Through our research programs, we provide our patients with the most innovative, cutting-edge therapies and advanced scientific discoveries. We serve patients from a wide geographic area in the Santa Cruz, Santa Clara, San Mateo, and Alameda counties. In 2023, PAMFRI participated in 25 clinical trials, enrolled 650 patients, and completed 2,640 study-related visits with patients. We received 112 awards and grants from federal agencies, public and private foundations, commercial sponsors, and PAMF Philanthropy awards to support the scientific discoveries and research of PAMFRI investigators and physician-scientists. Our PAMFRI Center for Health Systems Research scientists and researchers have published over 25 manuscripts. Our Clinical Principal Investigators have published numerous articles in prestigious medical journals. PAMFRI's clinical research portfolio has covered a wide range of medical and surgical specialties, including oncology, dermatology, diabetes, cardiovascular, pulmonary, orthopedics, spine surgery, gastroenterology, pain management, neurology, and infectious diseases. We have conducted research focused on a variety of diseases/health conditions such as COVID-19, diabetes, lung, liver, colorectal, gastric, ovarian, cervical, breast, prostate and other cancers, multiple sclerosis, vitiligo, low back pain, and mental health. We also have conducted research focused on patient-reported outcomes, physician-patient communication, digital health tools, lean management, physician/clinician wellbeing and burnout, survey administration and data analysis for employees. In addition, PAMFRI researchers have been co-leads in quality improvement evaluation projects in pediatric primary and urgent care. PAMFRI has received sponsorship and funding from numerous prominent organizations, including: . National Institute of Diabetes and Digestive and Kidney Diseases . National Institute for Mental Health . National Heart, Lung, and Blood Institute . National Cancer Institute . The National Center for Advancing Translational Sciences . Patient-Centered Outcomes Research Institute . Tobacco-Related Disease Research Program (State of California) . California Breast Cancer Research Program . Genentech, Eisai, Novartis, Eli Lily, Incyte and more . Biotech companies such as Lucira, Atreca, Avail and more . Palo Alto Medical Foundation Philanthropy

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $39,270,851
Program Service Revenue $3,463,808,027
Investment Income $8,867,257
Other Revenue $164,713
TOTAL REVENUE $3,512,110,848

Expense Breakdown

Grants Paid $6,021,266
Salaries & Benefits $1,069,661,413
Fundraising Expenses $4,242,510
Program Expenses $3,162,648,515
Other Expenses $2,373,256,698
TOTAL EXPENSES $3,448,939,377

Year-over-Year Comparison

2023 2022 Change
Revenue $3,512,110,848 $3,236,714,493 +0.1%
Expenses $3,448,939,377 $3,133,944,611 +0.1%
Net Income $63,171,471 $102,769,882 -0.4%
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
8165
Volunteers
37

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
10
$11,836,856
Total Directors
19
$16,821,503
Key Employees
8
$5,794,652
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Warner Thomas President & CEO SUTTER HEALTH 2.0
Director
$0 $2,791,767 $11,497,041
JAMES CONFORTI FRMR INTRM PRESIDENT & CEO SH 0.0
$0 $0 $6,356,149
BRIAN DEAN SH SVP, CFO (pt-yr) 2.0
Officer
$0 $278,381 $3,562,932
THERESA FREI CEO, SVMF/SBMF ASST SEC(PT-YR) 4.0
Officer Director
$0 $138,529 $2,403,304
ELIZABETH VILARDO-MORGAN MD CMO STRG & PHL INIT PRES PT-YR 2.0
Officer
$0 $193,519 $1,580,141
Dominic Nakis SH Interim CFO (pt-yr) 2.0
Officer
$0 $0 $1,353,843
Robert Nordgren CMO, San Francisco Market 0.0
Key Emp
$0 $120,848 $1,278,689
David Quincy MD CEO AMBULATORY SV MKT 0.0
Key Emp
$0 $104,347 $1,225,672
Todd Smith MD SVP, CHIEF PHYS EX/PRES(PT-YR) 4.0
Officer Director
$0 $108,041 $1,220,510
Mark Sevco SVP, COO/SBMF ASST SEC.(PT-YR) 4.0
Officer Director
$0 $17,195 $1,166,979
LI-MIN J HU COO SV MKT & CMO SAME DAY CARE 0.0
$0 $108,614 $1,124,563
Lawrence deGhetaldi SH VP GVMNT MEDICAL AFFAIRS 0.0
$0 $59,401 $903,994
John Gates Former CFO, SH Bay Area 0.0
$0 $0 $641,832
Kevin Cook President, Silicon Valley MKT 0.0
Key Emp
$0 $15,294 $618,027
Erin Neal CEO AMBULATORY SF MKT 27.0
Key Emp
$369,264 $49,748 $601,067
Edward Battista SH VP, HR Silicon Valley MKT 0.0
Key Emp
$0 $48,723 $588,391
Harly Neumann SH VP, HR East Bay Market 0.0
Key Emp
$0 $64,676 $586,789
Gregory Brown SH VP LEGAL TRANS. & SBMF SEC 2.0
Officer
$0 $65,978 $549,147
Jil Kacher Cobb MD Chief Medical Executive 2.0
Director
$0 $102,146 $533,669
Genea Wilson CEO Ambulatory East Bay MKT 27.0
Key Emp
$295,342 $42,201 $508,480
Teresa R Sarlitto Executive, Ops 40.0
Highest
$392,039 $100,734 $492,773
Deborah A Espinoza Physician Assistant 40.0
Highest
$437,216 $37,209 $474,425
Cecilia Aviles Senior Director, Integration 40.0
Highest
$375,678 $95,436 $471,114
Chantel Johnson VP OPS AMBLTRY SV MKT 40.0
Highest
$371,200 $99,809 $471,009
Lorin E Ferguson Physician Assistant 40.0
Highest
$384,677 $19,788 $404,465
Tosan Boyo President, East Bay Market 0.0
Key Emp
$0 $16,339 $387,537
Thomas Briody Director 2.0
Director
$0 $0 $0
William Brunetti Director 2.0
Director
$0 $0 $0
Nathalie Coeller MD Director 2.0
Director
$0 $0 $0
Theodore Diekel CHR FIN & Planning (pt-yr) 4.0
Officer Director
$0 $0 $0
Eric Flowers Director/Chair 4.0
Officer Director
$0 $0 $0
Steven Hao MD Director 2.0
Director
$0 $0 $0
Juli Maxworthy Director 2.0
Director
$0 $0 $0
Yumi Nakagawa Director 2.0
Director
$0 $0 $0
Steven Oliver CHR FIN & Planning (pt-yr) 4.0
Officer Director
$0 $0 $0
Umesh Padval Director 2.0
Director
$0 $0 $0
Yvonne Richardson Director 2.0
Director
$0 $0 $0
John Ryan Director 2.0
Director
$0 $0 $0
Ron Sinha MD Director 2.0
Director
$0 $0 $0
Jane Varner MD Director 2.0
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 $3,512,110,848 $3,448,939,377 $2,091,271,174 $63,171,471
2022 $3,236,714,493 $3,133,944,611 $1,877,171,234 $102,769,882
2021 $3,071,017,018 $3,077,801,506 $1,865,598,400 $-6,784,488
2020 $2,837,952,414 $2,890,589,245 $2,416,443,020 $-52,636,831
2019 $2,934,560,747 $2,892,406,350 $1,912,358,726 $42,154,397
2018 $2,823,585,929 $2,764,747,235 $1,670,635,042 $58,838,694
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