Virginia Mason Institute
- Assets
- $16.6m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 06/2009
- Data as of
- 06/2022
- EIN
- 26-3763656
Organization Overview
Virginia Mason Institute is located in Seattle, WA. The organization was established in 2009. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Mason Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Virginia Mason Institute generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.9%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
VIRGINIA MASON INSTITUTE HAS CREATED A VISION TO BECOME THE PRIMARY RESOURCE AND INSPIRATION TO TRANSFORM HEALTH CARE AND IMPROVEMENT OF PATIENT SAFETY, PATIENT EXPERIENCE AND THE QUALITY AND VALUE OF HEALTH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH EDUCATION SERVICES, VIRGINIA MASON INSTITUTE DELIVERS LEARNING ACTIVITIES IN SEATTLE (AT THE INSTITUTE'S FACILITY), ONLINE THROUGH VIRTUAL TRAINING PROGRAMS, AND ONSITE AT OTHER HEALTH CARE ORGANIZATIONS INTERNATIONALLY THAT INSPIRE, ENGAGE AND MOTIVATE INDIVIDUALS TO TRANSFORM HEALTH CARE. USING CASE STUDIES, HANDS-ON EXERCISES, PANELS FEATURING VMPS PRACTITIONERS AND HEALTH CARE PROVIDERS, MEDICAL FACILITY TOURS THAT SHOWCASE VMPS IN ACTION, SIMULATIONS AND COACHING, THE INSTITUTE'S EDUCATION SERVICES EQUIP PARTICIPANTS WITH NEW SKILLS, NEW IDEAS AND CONTINUING MEDICAL EDUCATION CREDITS. MOST SIGNIFICANTLY, PARTICIPANTS LEARN HOW VIRGINIA MASON CONSISTENTLY PUTS THE PATIENT FIRST IN EVERYTHING IT DOES, AND THEY LEAVE INSPIRED TO CREATE THEIR OWN PATIENT-CENTERED PROCESSES IN THEIR DAILY WORK WITH AND FOR PATIENTS. FROM JULY 1, 2021 TO JUNE 30, 2022, THROUGH EDUCATION SERVICES, THE INSTITUTE DELIVERED 361 HOURS OF ACTIVE TRAINING TO 138 PARTICIPANTS.
THROUGH THE PROVISION OF TRANSFORMATION SERVICES, VIRGINIA MASON INSTITUTE EDUCATORS WORK ONSITE WITHIN HEALTH CARE ORGANIZATIONS TO HELP THEM BUILD ORGANIZATIONAL CAPABILITY TO CREATE AND SUSTAIN A CULTURE OF CONTINUOUS IMPROVEMENT THROUGH THE PRACTICAL APPLICATION AND EMBEDMENT OF THE TOOLS AND METHODS OF VIRGINIA MASON'S PROPRIETARY MANAGEMENT METHOD, THE VIRGINIA MASON PRODUCTION SYSTEM (VMPS). FROM JULY 1, 2021 TO JUNE 30, 2022, VIRGINIA MASON INSTITUTE PARTNERED WITH AND PROVIDED TRANSFORMATION SERVICES TO 24 HEALTH CARE ORGANIZATIONS WORLDWIDE, WITH THE SERVICES DIRECTLY IMPACTING AND INFLUENCING EMPLOYEES AND PATIENTS ACROSS ALL AREAS OF THOSE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzanne Anderson Former Secretary/treasurer | 0 | $0 | |
Ingrid Gerbino MD Treasurer\vp, Chief Innovation Officer Vmmc | OfficerTrustee | 2 | $0 |
Craig Goodrich CFO | Officer | 2 | $0 |
Wendy Korthuis-Smith Executive Director | Officer | 50 | $244,798 |
Sarah Patterson Former Executive Director | 2 | $235,887 | |
Gordon Sansaver Associate Executive Director | 50 | $195,943 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crain Communications Inc Media Services | 12/30/15 | $236,468 |
Gly Construction Inc Construction Services | 12/30/15 | $633,596 |
Shingijutsu Usa Corporation Consulting | 12/30/15 | $144,829 |
Healthleaders Media Media Services | 12/30/15 | $107,434 |
Belief Agency Information Technology Services | 12/30/15 | $103,320 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $627 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $627 |
| Total Program Service Revenue | $2,319,408 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $37 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,320,072 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,317,457 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $694,466 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,146 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $387,963 |
| Advertising and promotion | $2,900 |
| Office expenses | $39,886 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $349,807 |
| Travel | $56,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,050 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,094 |
| Insurance | $0 |
| All other expenses | $1,190 |
| Total functional expenses | $4,138,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,916,786 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $950,263 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $62,808 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,638,226 |
| Total assets | $16,568,083 |
| Accounts payable and accrued expenses | $6,889 |
| Grants payable | $0 |
| Deferred revenue | $414,640 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $421,529 |
| Net assets without donor restrictions | $16,146,554 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,568,083 |