Multicare Foundations
- Assets
- $74.2m
- Revenue
- $16.2m
- Investments
- $0.0
- Employees
- 12
- Location
- Tacoma, WA
- Founding
- 12/1991
- Data as of
- 12/2023
- EIN
- 91-1514257
Organization Overview
Multicare Foundations is located in Tacoma, WA. The organization was established in 1991. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2023, Multicare Foundations employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Multicare Foundations 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 12/2023, Multicare Foundations generated $16.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $7.7m during the year ending 12/2023. While expenses have increased by 6.7% 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.
Since 2020, Multicare Foundations has awarded 11 individual grants totaling $25,320,930. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PARTNERING FOR HEALING AND A HEALTHY FUTURE THROUGH PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MULTICARE FOUDATIONS FOCUSES ON PROVIDING SUPPORT TO MULTICARE HEALTH SYSTEM, A RELATED HEALTHCARE TAX-EXEMPT ORGANIZATION, THROUGH ITS' REGIONAL DIVISIONS, MULTICARE GOOD SAMARITAN, MULTICARE BEHAVIORAL HEALTH, MULTICARE INLAND NORTHWEST, MULTICARE SOUTH KING AND MULTICARE HEALTH FOUNDATION, AND ACTS LIKE A VEHICLE FOR THE COMMUNITY MEMBERS TO GIVE BACK TO THE HEALTH CARE CAUSES THAT ARE CLOSE TO THEIR HEARTS. IN 2023 MULTICARE FOUNDATIONS GRANTED $1,752,896 TO PROGRAMS AT MULTICARE HEALTH SYSTEM. THE SUPPORT CONSISTED OF $402,200 FOR THE GOOD SAMARITAN'S OB ADDICTION UNIT, $366,806 FOR THE MULTICARE ONCOLOGY PROGRAM, $357,986 TOWARDS CAREGIVE SUPPORT AND $290,686 FOR HELPING HANDS, AND THE REMAINDER FOR FAMILY ASSISTANCE AND CHARITY. -SEE SCHEDULE O-HELPING HANDS PAYS FOR ITEMS THE PATIENT URGENTLY NEEDS BUT CANNOT AFFORD SUCH AS PRESCRIPTIONS, MEDICAL EQUIPMENT OR TRANSPORTATION HOME.
MULTICARE FOUNDATIONS PROVIDED $790,122 IN FUNDING FOR OTHER PROGRAMS INCLUDING BUT NOT LIMITED TO, BEHAVIORAL DIVISION AT MULTICARE- NAVOS AND GREATER LAKES, CHILDREN'S THERAPY UNIT, HOSPICE, BREAST PROGRAM, RESEARCH INSTITUTE, AND OTHER MISCELLANEOUS PROGRAMS AT MULTICARE HEALTH SYSTEM'S HOSPITALS AND CLINICS IN PUGET SOUND AND EASTERN WA.
IN 2023 MULTICARE FOUNDATIONS PROVIDED $1,372,025 IN FUNDING FOR THE AQUISITION OF NEW TECHNOLOGY AND MEDICAL EQUIPMENT AT MULTICARE HEALTH SYSTEM HOSPITALS AND CLINICS. SPECIFICALLY THE FOLOWING RECEIVED THE SUPPORT: MULTICARE TACOMA GENERAL- ALLENMORE, GOOD SAMARITAN HOSPITAL, MULTICARE AUBURN AND CONVINGTON MEDICAL CENTERS, MULTICARE CAPITAL MEDICAL CENTER IN OLYMPIA, MULTICARE DEACONESS AND VALLEY HOSPITALS IN EASTERN WA, MULTICARE URGENT CARE AND INDIGO CLINICS THROUGHOUT THE WA STATE. MEDICAL EQUIPMENT IS FUNDED BY BOTH CAPITAL AND OPERATING FUNDS. THERE ARE TIMES WHEN FOUNDATION APPROVES TO FINANCE THE PURCHASE OF MEDICAL EQUIPMENT BASED ON NEED. MEDICAL EQUIPMENT IS KEY TO PROVIDING SERVICES TO OUR COMMUNITIES WITH THE LATEST TECHNOLOGY -SEE SCH O- AND TOOLS AVAILABLE. AS THE USEFUL LIVES OF THE MEDICAL EQUIPMENT AT SOME POINT END, THERE ARE NEEDS TO REPLACE THEM AND IMPROVE THE CURRENT STANDARDS OF CARE. FROM VENTILATORS AND FLUORESCENCE IMAGING (SEE SCHEDULE O) TECHNOLOGY TO INFANT BEDS/WARMERS AND EQUIPMENT FOR A SENSORY PLAYROOM; ALL GO TO THE CARE OF PATIENTS IN OUR VARIOUS FACILITIES.
MULTICARE FOUNDATIONS PROVIDED $909,918 IN FUNDING FOR MULTICARE HEALTH SYSTEM'S HEALTHCARE NEONATAL INTENSIVE CARE AT MULTICARE DEACONESS, MULTICARE VALLEY AND TACOMA GENERAL HOSPITALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Arnold Member | Trustee | 2 | $0 |
Cory Barbieri Member, Part Year | Trustee | 2 | $0 |
Robert Best Vice Chair,part Year | OfficerTrustee | 2 | $0 |
Bobbe Bridge Chair | OfficerTrustee | 2 | $0 |
Kelly Fukai Secretary | OfficerTrustee | 2 | $0 |
David Johnson Member, Part Year | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $21,995 |
| Membership dues | $0 |
| Fundraising events | $2,494,883 |
| Related organizations | $3,387,418 |
| Government grants | $814,291 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,764,993 |
| Noncash contributions included in lines 1a–1f | $91,837 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,483,580 |
| Total Program Service Revenue | $0 |
| Investment income | $906,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,548,495 |
| Net Income from Fundraising Events | $221,292 |
| Net Income from Gaming Activities | $41,655 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,201,415 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,824,961 |
| 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 | $1,684,828 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $335,567 |
| Payroll taxes | $114,260 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $1,830 |
| Advertising and promotion | $36,019 |
| Office expenses | $54,313 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,181 |
| Travel | $20,581 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $4,224 |
| Total functional expenses | $7,719,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,347,033 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $62,877,600 |
| Total assets | $74,224,769 |
| Accounts payable and accrued expenses | $1,108,022 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,108,022 |
| Net assets without donor restrictions | $28,611,336 |
| Net assets with donor restrictions | $44,505,411 |
| 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 | $74,224,769 |
Grants Awarded
Over the last fiscal year, Multicare Foundations has awarded $4,824,961 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MULTICARE HEALTH SYSTEM PURPOSE: CAPITAL AND OPERATIONAL EXPENDITURES | $4,512,946 |
NAVOS PURPOSE: GENERAL SUPPORT | $234,873 |
GREATER LAKES MENTAL HEALTHCARE PURPOSE: GENERAL SUPPORT | $77,142 |