Providence Medical Institute
- Assets
- $99.5m
- Revenue
- $219.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Renton, WA
- Founding
- 10/1988
- Data as of
- 12/2022
- EIN
- 33-0283773
Organization Overview
Providence Medical Institute is located in Renton, WA. The organization was established in 1988. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Medical 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 12/2022, Providence Medical Institute generated $219.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $219.3m during the year ending 12/2022. While expenses have increased by 4.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erik Wexler Director | Trustee | 0.5 | $0 |
Amy Compton-Phillips MD Director - Thru 9/22 | Trustee | 0.5 | $0 |
Bj Moore Director | Trustee | 0.5 | $0 |
Kevin Manemann Director | Trustee | 0.5 | $0 |
Jo Ann Escasa-Haigh Frmr Off - Psjh Evp/asst. Treas. | 0 | $0 | |
Mike Waters Director - Thru 7/22 | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Center For Orthopaedics Spec Medical Services | 12/30/22 | $3,621,969 |
Cardiology Consultants Med Grp Medical Services | 12/30/22 | $1,150,432 |
Angeles Fulfillment Services Fulfillment Services | 12/30/22 | $370,574 |
Pacific Harbor Medical Group Medical Services | 12/30/22 | $568,750 |
Scribe America Llc Staffing Services | 12/30/22 | $281,962 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $865,343 |
| All other contributions, gifts, grants, and similar amounts not included above | $601,589 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,466,932 |
| Total Program Service Revenue | $212,791,465 |
| Investment income | $82,140 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $221,543 |
| 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 | $219,286,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,854 |
| 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 | $48,895,168 |
| Pension plan accruals and contributions | $814,013 |
| Other employee benefits | $326,305 |
| Payroll taxes | $3,495,984 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $427,886 |
| Fees for services: Accounting | $82,926 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128,572,721 |
| Advertising and promotion | $1,864,789 |
| Office expenses | $1,502,902 |
| Information technology | $70,446 |
| Royalties | $0 |
| Occupancy | $16,270,742 |
| Travel | $567,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $77 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,537,072 |
| Insurance | $2,551,889 |
| All other expenses | $375,441 |
| Total functional expenses | $219,286,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,079 |
| Savings and temporary cash investments | $23,422 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,182,468 |
| 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 | $932,461 |
| Net Land, buildings, and equipment | $6,164,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,472,897 |
| Intangible assets | $446,133 |
| Other assets | $54,272,589 |
| Total assets | $99,506,681 |
| Accounts payable and accrued expenses | $47,281,803 |
| Grants payable | $0 |
| Deferred revenue | $1,529,383 |
| 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 | $34,359,659 |
| Total liabilities | $83,170,845 |
| Net assets without donor restrictions | $16,335,836 |
| 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 | $99,506,681 |