Multicare Health Foundation
- Assets
- $69.5m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Tacoma, WA
- Founding
- 12/1991
- Data as of
- 12/2021
- EIN
- 91-1514257
Organization Overview
Multicare Health Foundation 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 12/2021, Multicare Health Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Multicare Health Foundation 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 12/2021, Multicare Health Foundation generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $10.1m during the year ending 12/2021. While expenses have increased by 11.8% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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
IN 2021 MULTICARE FOUNDATIONS GRANTED $1,984,801 TO THE HELPING HANDS, FAMILY ASSISTANCE, HEROS AND COMMUNITY COVID VACCINES PROGRAMS AT MULTICARE HEALTH SYSTEM. THE SUPPORT CONSISTED IN $1,069,149 FOR HELPING HANDS TO BE USED BY SOCIAL WORKERS IN DIRECT SUPPORT OF PATIENTS AND FAMILIES WHO NEED A LITTLE EXTRA HELP, $764,404 FOR THE COMMUNITY COVID VACCINE CLINICS AND COVID RESPONSE AT MULTICARE AND $151,248 TOWARDS THE HEALTHCARE HEROS. HELPING HANDS PAYS FOR ITEMS THE PATIENT URGENTLY NEEDS BUT CANNOT AFFORD SUCH AS PRESCRIPTIONS, MEDICAL EQUIPMENT OR TRANSPORTATION HOME.
MULTICARE FOUNDATIONS PROVIDED $1,709,295 IN FUNDING FOR MULTICARE HEALTH SYSTEM'S GOOD SAMARITAN HOSPITAL AND CLINICS. THE SUPPORT CONSISTED IN $1,567,171 FOR THE GOOD SAMARITAN'S EXPANSION AND NEW UNIT CONSTRUCTION, $142,124 FOR THE MULTICARE GOOD SAMARITAN CHILDREN'S THERAPY UNIT (CTU) AND GRANNIES' ATTIC OPERATIONS. THE CTU FUNDING ENSURES THAT CHILDREN WHO NEED SPECIALIZED THERAPIES TO REACH THEIR FULL POTENTIAL WILL RECEIVE THE HELP THEY NEED, REGARDLESS OF INSURANCE LIMITATIONS OR ABILITY TO PAY.
IN 2021 MULTICARE FOUNDATIONS GRANTED $757,303 TO THE BEHAVIORAL HEALTH PROGRAMS AT MULTICARE HEALTH SYSTEM, WELLFOUND, NAVOS AND GREATER LAKES. THE FUNDS WERE USED FOR CAPITAL IMPROVEMENTS, PROGRAMS'SUPPORT, AQUISITION OF NEW TECHNOLOGY AND OVERALL OPERATIONS.
MULTICARE FOUNDATIONS FOCUSES ON PROVIDING SUPPORT TO MULTICARE HEALTH SYSTEM, A RELATED HEALTHCARE TAX-EXEMPT ENTITY. THROUGH ITS REGIONAL DIVISIONS, GOOD SAMARITAN, BEHAVIORAL HEALTH, MULTICARE HEALTH, INLAND NORTHWEST AND SOUTH KING HEALTH FOUNDATIONS, COMMUNITY MEMBERS GIVE BACK TO THE HEALTH CARE CAUSES CLOSEST TO THEIR HEARTS, IN WAYS THAT HELP PROVIDE CHILDREN AND FAMILIES ACCESS TO THE QUALITY HEALTH CARE THEY DESERVE, THROUGH ALL STAGES OF LIFE.IN 2021 MULTICARE FOUNDATIONS PROVIDED 2,393,355 IN FUNDING FOR OTHER PROGRAMS BUT NOT LIMITED TO, THE CANCER CENTER, SCOLARSHIPS AND CAREGIVER EDUCATION, DIABETES PROGRAM, ICT PROGRAM EQUIPMENT, VIDEOURODYNAMICS, REHAB TRAUMA, DOMESTIC TRAUMA, SLEEP SCREENINGS AND SUPPORT FOR RECOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Kadyk Executive Director | 50 | $164,751 | |
Stephanie Cline Director | 50 | $128,570 | |
Angela Lee Hylton Philanthropy Officer | 50 | $113,677 | |
Cory Barbieri Vice Chair | OfficerTrustee | 2 | $0 |
David Johnson Secretary | OfficerTrustee | 2 | $0 |
Joshua Neely Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $15,559 |
| Membership dues | $0 |
| Fundraising events | $1,590,135 |
| Related organizations | $3,473,434 |
| Government grants | $2,597,706 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,209,850 |
| Noncash contributions included in lines 1a–1f | $392,877 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,886,684 |
| Total Program Service Revenue | $0 |
| Investment income | $1,985,238 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,134 |
| Net Income from Fundraising Events | $328,526 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,201,582 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,844,754 |
| 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 | $520,258 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,330 |
| Payroll taxes | $34,675 |
| 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 | $271,026 |
| Advertising and promotion | $1,386 |
| Office expenses | $140,379 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,076 |
| Travel | $9,912 |
| 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 | $0 |
| Total functional expenses | $10,052,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $69,482,903 |
| Total assets | $69,482,903 |
| Accounts payable and accrued expenses | $663,387 |
| 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 | $663,387 |
| Net assets without donor restrictions | $32,188,473 |
| Net assets with donor restrictions | $36,631,043 |
| 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 | $69,482,903 |
Grants Awarded
Over the last fiscal year, Multicare Health Foundation has awarded $6,844,754 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Tacoma, WA PURPOSE: CAPITAL AND OPERATIONAL EXPENDITURES | $6,527,251 |
Seattle, WA PURPOSE: GENERAL SUPPORT | $279,133 |
Lakewood, WA PURPOSE: GENERAL SUPPORT | $38,370 |
Grants Recieved
Over the last fiscal year, we have identified 31 grants that Multicare Health Foundation has recieved totaling $5,912,711.
| Awarding Organization | Amount |
|---|---|
Multicare Health System Tacoma, WA PURPOSE: ASSISTANCE FOR OPERATING EXPENSES | $3,473,434 |
Ben B Cheney Foundation Inc Tacoma, WA PURPOSE: MARY BRIDGE CHILDREN'S HOSPITAL CAPITAL CAMPAIGN | $1,000,000 |
Oscar T And Olivann Hokoldfoundation Lakewood, WA PURPOSE: GENERAL OPERATIONS | $250,000 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $200,000 |
Ben B Cheney Foundation Inc Tacoma, WA PURPOSE: COVID-19 POP UP CLINICS | $200,000 |
Greater Tacoma Community Foundation Tacoma, WA PURPOSE: OPERATING SUPPORT, PROGRAM SUPPORT | $192,730 |
Endowment Analysis
| Beg. Balance | $37,213,103 |
| Earnings | $783,269 |
| Admin Expense | $12,000 |
| Net Contributions | $1,507,770 |
| Other Expense | $394,337 |
| Grants | $121,398 |
| Ending Balance | $38,976,407 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Swedish Medical Center Foundation Seattle, WA | $149,925,707 | $36,132,164 |
Seattle Childrens Healthcare System Seattle, WA | $1,236,637,312 | $122,583,383 |
St Lukes Health Foundation Ltd Boise, ID | $50,176,105 | $12,367,207 |
Multicare Health Foundation Tacoma, WA | $69,482,903 | $11,201,582 |
Overlake Hospital Association Bellevue, WA | $31,794,126 | $12,421,472 |
Oregon Rural Health Initiative Portland, OR | $7,029,575 | $4,022,932 |
Bio Ventures For Global Health Seattle, WA | $5,318,274 | $3,211,056 |
North Lincoln Hospital Foundation Lincoln City, OR | $1,712,168 | $1,225,177 |
Salmon Creek Hospital Foundation Portland, OR | $4,339,648 | $1,370,769 |
Salem Health Foundation Salem, OR | $11,591,979 | $867,892 |
John L Locke Jr Charitable Trust Issaquah, WA | $23,717,150 | $1,880,836 |
Providence Hospice & Home Care Foundation Snohomish County Everett, WA | $3,527,301 | $1,415,799 |