Seattle Childrens Healthcare System
- Assets
- $1.0b
- Revenue
- $46.9m
- Investments
- $579.3m
- Employees
- 14
- Location
- Seattle, WA
- Founding
- 05/1984
- Data as of
- 09/2020
- EIN
- 91-1250116
Organization Overview
Seattle Childrens Healthcare System is located in Seattle, WA. The organization was established in 1984. 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 09/2020, Seattle Childrens Healthcare System employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 09/2020, Seattle Childrens Healthcare System generated $46.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $8.2m during the year ending 09/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE PROVISION OF QUALITY HEALTH CARE SERVICES TO INFANTS, CHILDREN AND ADOLESCENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEATTLE CHILDREN'S HEALTHCARE SYSTEM'S PROGRAM OPERATING COSTS ARE RELATED TO ACTIVITIES INCURRED TO PROVIDE, DIRECTLY OR INDIRECTLY, HEALTH CARE OR HEALTH RELATED SERVICES APPROPRIATE FOR THE SPECIAL NEEDS OF INFANTS, CHILDREN AND ADOLESCENTS, DELIVERING AND IMPROVING THE DELIVERY OF THOSE SERVICES AND/OR THE QUALITY OF THOSE SERVICES THROUGH RESEARCH, EDUCATION, AND CHILD ADVOCACY. PROGRAM REVENUE IS PRIMARILY RELATED TO SEATTLE CHILDREN'S HEALTHCARE SYSTEM'S PROGRAM RELATED JOINT VENTURE WITH SEATTLE CANCER CARE ALLIANCE (SCCA), A NOT-FOR-PROFIT CORPORATION FORMED IN 1998 BY SEATTLE CHILDREN'S HEALTHCARE SYSTEM, THE UNIVERSITY OF WASHINGTON SCHOOL OF MEDICINE, AND FRED HUTCHINSON CANCER RESEARCH CENTER FOR THE PURPOSE OF OFFERING A COMPREHENSIVE PROGRAM OF INTEGRATED CANCER CARE SERVICES.
OCCUPANCY AND OTHER COSTS RELATED TO THE OPERATION OF THE SAND POINT CLINIC BUILDING WHICH IS RENTED TO SEATTLE CHILDREN'S HOSPITAL. THE RENTED SPACE IS USED TO DELIVER HEALTHCARE SERVICES TO INFANTS, CHILDREN AND ADOLESCENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Hayward Senior VP & Chief Legal Officer | Officer | 55 | $634,434 |
Jeff Sperring MD Ceo/non-Voting Ex Officio Trustee | Officer | 16 | $358,718 |
Suzanne Beitel Senior VP & Chief Financial Officer | Officer | 14 | $205,604 |
Debra Palmer-Seiler Sr Accountant, Treasury | 40 | $115,235 | |
Michael Joo Corporate Accountant | 40 | $111,074 | |
Warren Hewitt VP - Finance | Officer | 14 | $94,737 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Management Company Llp Investment Management | 9/29/20 | $747,826 |
Sanderson Asset Management Investment Management | 9/29/20 | $580,148 |
Highclere International Investors Investment Management | 9/29/20 | $509,369 |
Northern Trust Co Investment Management | 9/29/20 | $319,532 |
Kpmg Llp Auditing And Consulting | 9/29/20 | $154,420 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,113,866 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $1,336,329 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,113,866 |
| Total Program Service Revenue | $25,201,091 |
| Investment income | $3,856,318 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$153,459 |
| Net Gain/Loss on Asset Sales | $13,757,941 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,931,428 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,262,848 |
| 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. | $1,899,164 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $357,086 |
| Pension plan accruals and contributions | $164,333 |
| Other employee benefits | $199,080 |
| Payroll taxes | $283,070 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $216,057 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,492,874 |
| Fees for services: Other | $933,673 |
| Advertising and promotion | $0 |
| Office expenses | $1,971 |
| Information technology | $871 |
| Royalties | $0 |
| Occupancy | $1,210,457 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,325 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,917 |
| Insurance | $7,025 |
| All other expenses | $90,800 |
| Total functional expenses | $8,182,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,370,147 |
| Accounts receivable, net | $13,092 |
| 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 | $5,360,144 |
| Investments—publicly traded securities | $178,926,223 |
| Investments—other securities | $579,294,630 |
| Investments—program-related | $212,879,413 |
| Intangible assets | $0 |
| Other assets | $26,065,897 |
| Total assets | $1,003,909,546 |
| Accounts payable and accrued expenses | $1,189,296 |
| Grants payable | $0 |
| Deferred revenue | $151,460 |
| 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 | $9,090,455 |
| Total liabilities | $10,431,211 |
| Net assets without donor restrictions | $768,795,242 |
| Net assets with donor restrictions | $224,683,093 |
| 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 | $1,003,909,546 |
Grants Awarded
Over the last fiscal year, Seattle Childrens Healthcare System has awarded $1,262,848 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Lynnwood, WA PURPOSE: SUPPORT OF MISSION TO IMPROVE BIRTH OUTCOMES WORLDWIDE | $1,000,000 |
Seattle, WA PURPOSE: UNRESTRICTED DONATION TO AFFILIATE | $262,848 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Seattle Childrens Healthcare System has recieved totaling $34,167.
| Awarding Organization | Amount |
|---|---|
Seattle Childrens Hospital Guild Association Seattle, WA PURPOSE: PEDIATRIC CARE, MEDICAL RESEARCH, TEACHING | $20,090 |
Rogers Wo & Wm O Memorial Fund Dallas, TX PURPOSE: SUPPORT FOR MEDICAL | $14,077 |
Endowment Analysis
| Beg. Balance | $441,030,000 |
| Earnings | $46,256,000 |
| Net Contributions | $865,000 |
| Other Expense | $3,975,000 |
| Ending Balance | $484,176,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Swedish Medical Center Foundation Renton, WA | $133,585,121 | $26,543,615 |
Seattle Childrens Healthcare System Seattle, WA | $1,003,909,546 | $46,931,428 |
Overlake Hospital Association Bellevue, WA | $31,992,329 | $11,110,159 |
Multicare Health Foundation Tacoma, WA | $27,687,584 | $6,781,807 |
Group Health Foundation Seattle, WA | $21,639,802 | $3,180,502 |
North Lincoln Hospital Foundation Lincoln City, OR | $4,419,699 | $1,402,012 |
Bio Ventures For Global Health Seattle, WA | $1,415,465 | $2,120,671 |
Salem Health Foundation Salem, OR | $10,268,673 | $1,221,659 |
John L Locke Jr Charitable Trust Seattle, WA | $22,113,113 | $821,014 |
Providence Hospice & Home Care Foundation Snohomish County Renton, WA | $3,343,123 | $1,140,259 |
Providence Milwaukie Foundation Renton, WA | $7,852,376 | $995,164 |
The Health Care Foundation Longview, WA | $7,731,981 | $395,791 |