PROVIDENCE FACEY MEDICAL FOUNDATION

EIN: 954322584 501(c)(3)

RENTON, WA

Total Revenue
$365,015,859
Total Expenses
$365,303,955
Total Assets
$233,337,332
Net Assets
$22,292,942
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
CA
Principal Officer
PRASANNA MOHANTY
Phone
8183659531
Tax Period
2023-01-01 to 2023-12-31

PROVIDENCE FACEY MEDICAL FOUNDATION, founded in 1991, is a major nonprofit that reported $365.0M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

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: $349,351,661 Revenue: $361,711,439

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, 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.PROGRAM SERVICE ACCOMPLISHMENTS - DIRECT PATIENT MEDICAL CARE - THIS INCLUDES, BUT IS NOT LIMITED TO, FACE TO FACE PROVIDER APPOINTMENTS, LABORATORY AND X-RAY SERVICES, PHYSICAL THERAPY SERVICES, IMMUNIZATIONS, PROVIDED DRUGS AND MEDICATIONS, PROCEDURES IN OPHTHALMOLOGY, OB/GYN, AND GASTROENTEROLOGY. REVENUES ALSO INCLUDE INCOME FROM HOSPITAL & HEALTH PLAN SHARED RISK, HEALTH PLAN PAY FOR PERFORMANCE, STOP LOSS RECOVERIES, AND 3RD PARTY LIENS.PATIENT EDUCATION: HEALTH EDUCATION CLASSES COVERED NUMEROUS TOPICS, INCLUDING BLOOD PRESSURE MANAGEMENT, CHOLESTEROL MANAGEMENT, HEALTHY LIVING, DEALING WITH MEMORY LOSS, SMOKING CESSATION, PRE-DIABETES, BARIATRIC EDUCATION, TO NAME A FEW.

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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 $724,019
Program Service Revenue $338,210,969
Investment Income $2,554,911
Other Revenue $23,525,960
TOTAL REVENUE $365,015,859

Expense Breakdown

Grants Paid $21,476
Salaries & Benefits $76,075,931
Fundraising Expenses $0
Program Expenses $349,351,661
Other Expenses $289,206,548
TOTAL EXPENSES $365,303,955

Year-over-Year Comparison

2023 2022 Change
Revenue $365,015,859 $421,294,868 -0.1%
Expenses $365,303,955 $417,371,913 -0.1%
Net Income $-288,096 $3,922,955 -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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Governance

Voting Members
21
Independent Members
13
Employees
1487
Volunteers
N/A

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
5
$4,965,364
Total Directors
26
$21,316,583
Key Employees
1
$517,061
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIK WEXLER DIRECTOR 0.50
Director
$0 $461,693 $5,616,067
BJ MOORE DIRECTOR - THRU 6/23 0.50
Director
$0 $309,498 $3,147,188
DAVID KIM MD PRESIDENT - THRU 8/23 1.00
Officer Director
$0 $26,953 $2,068,350
KEVIN MANEMANN DIRECTOR - THRU 1/23 0.50
Director
$0 $13,287 $2,039,677
ALI SANTORE DIRECTOR 0.50
Director
$0 $204,645 $1,840,194
SARA VAEZY DIRECTOR (PART YEAR) 0.50
Director
$0 $198,301 $1,723,910
JILL DUPLECHAN DIRECTOR (PART YEAR) 0.50
Director
$0 $169,020 $1,269,130
ROBERT JUST III DIRECTOR (PART YEAR) 0.50
Director
$0 $151,608 $1,014,762
DAVID MAST DIRECTOR 0.50
Director
$0 $123,979 $994,645
PRASANNA MOHANTY PRESIDENT (PART YEAR) 0.50
Officer Director
$0 $94,582 $952,602
MARY ANNE SLADICH-LANTZ DIRECTOR - THRU 12/31/23 0.50
Director
$0 $6,571 $597,558
ANTONIO FERREY DIRECTOR (PART YEAR) 0.50
Director
$0 $0 $52,500
ABHIJIT ADHYE DIRECTOR - THRU 12/31/23 0.50
Director
$0 $0 $0
ANNE FORD MD DIRECTOR 0.50
Director
$0 $0 $0
CONNIE BARTLETT DO DIRECTOR 0.50
Director
$0 $0 $0
ELIZABETH SANDER MD DIRECTOR - THRU 6/23 0.50
Director
$0 $0 $0
JAMES BENOIT DR DIRECTOR/CHAIR (PART YEAR) 1.00
Director
$0 $0 $0
JEANNETTE CURRIE MD DIRECTOR 0.50
Director
$0 $0 $0
KEITH MARTON MD DIRECTOR 0.50
Director
$0 $0 $0
KIMBERLEY CHAN MD DIRECTOR (PART YEAR) 0.50
Director
$0 $0 $0
MARK NEEDHAM MD DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL SUGARMAN MD DIRECTOR 0.50
Director
$0 $0 $0
RAUL RUDY MARQUEZ MD DIRECTOR 0.50
Director
$0 $0 $0
ROBERT DEL JUNCO MD DIRECTOR - THRU 7/23 0.50
Director
$0 $0 $0
ROSCOE MARTER MD DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM BARCELONA DIRECTOR 0.50
Director
$0 $0 $0
JIM WATSON ESQ SECRETARY 0.50
Officer
$0 $146,931 $1,115,622
MELAYNE YOCUM CFO 14.00
Officer
$0 $32,089 $505,069
DONALD ANDERSON JR ASSISTANT SECRETARY FOR ENROLLMENT 0.50
Officer
$0 $30,846 $323,721
TERESA DAVID COO FACEY 27.50
Key Emp
$491,732 $25,329 $517,061
THOMAS MCDEVITT DIRECTOR FINANCE 50.00
Highest
$277,480 $63,044 $340,524
JAVIER HO EXECUTIVE DIRECTOR FINANCE 50.00
Highest
$271,788 $52,738 $324,526
ROBERT LEHNER DIRECTOR MARKETING 50.00
Highest
$227,677 $40,957 $268,634
CATHY HAWES SENIOR DIRECTOR CLINICAL OPERATIONS 50.00
Highest
$228,169 $26,304 $254,473
KATERI DANIELE NURSE PRACTITIONER 50.00
Highest
$218,943 $25,829 $244,772
JO ANN ESCASA-HAIGH FRMR EVP/ASSISTANT TREASURER 0.00
$0 $10,754 $3,302,551
NATHAN HUSMANN FRMR OFF. - DIV CFO SOUTH 0.00
$0 $198,695 $1,294,473
JOHN WHIPPLE FRMR SECRETARY 0.00
$0 $0 $541,701
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 $365,015,859 $365,303,955 $233,337,332 $-288,096
2022 $421,294,868 $417,371,913 $249,641,420 $3,922,955
2021 $398,706,463 $395,358,232 $203,113,439 $3,348,231
2020 $365,460,244 $365,058,996 $206,456,570 $401,248
2019 $268,566,165 $312,161,393 $213,234,071 $-43,595,228
2019 $311,406,305 $312,161,393 $213,234,071 $-755,088
2018 $247,352,762 $285,253,959 $122,051,254 $-37,901,197
2018 $247,352,762 $337,416,671 $122,051,254 $-90,063,909
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