Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $22,718,166

• 1e · Government grants (contributions)

  $66,738,781

• 1f · All other contributions, gifts and grants

  $1,959,110

• 1g · Noncash contributions included above

  $92,003

• 2a · Program service revenue: PATIENT SERVICE REV

  total $3,687,865,721 · related or exempt $3,687,865,721

• 2b · Program service revenue: OTHER OPERATING REV

  total $83,756,555 · related or exempt $83,331,426 · unrelated business $425,129

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $58,838,997 · unrelated business $6,442,147 · excluded $52,396,850

• 6a · Gross rents

  real property $11,941,032

• 6b · Less rental expenses

  real property $3,525,377

• 6c · Rental income or loss

  real property $8,415,655 · personal property $0

• 6d · Net rental income or loss

  total $8,415,655 · excluded $8,415,655

• 7a · Gross sales of assets other than inventory

  securities $3,337,763,756

• 7b · Less cost or other basis and sales expenses

  securities $3,254,139,391

• 7c · Gain or loss

  securities $83,624,365 · other assets $0

• 7d · Net gain or loss

  total $83,624,365 · excluded $83,624,365

• 11a · Other revenue: CAFETERIA

  total $6,021,784 · excluded $6,021,784

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $6,021,784

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,771,881 · program services $6,771,881

• 3 · Grants to foreign organizations and individuals

  total $134,000 · program services $134,000

• 5 · Compensation of officers, directors and key employees

  total $25,070,444 · program services $21,428,045 · management and general $3,642,399

• 7 · Other salaries and wages

  total $1,881,045,168 · program services $1,606,933,176 · management and general $273,151,022 · fundraising $960,970

• 8 · Pension plan contributions

  total $109,695,918 · program services $93,726,324 · management and general $15,931,864 · fundraising $37,730

• 9 · Other employee benefits

  total $136,777,213 · program services $116,785,627 · management and general $19,851,550 · fundraising $140,036

• 10 · Payroll taxes

  total $136,826,473 · program services $116,887,561 · management and general $19,868,877 · fundraising $70,035

• 11a · Fees: management

  total $4,871,054 · program services $4,163,355 · management and general $707,699

• 11b · Fees: legal

  total $7,030,333 · program services $6,008,920 · management and general $1,021,413

• 11c · Fees: accounting

  total $793,200 · program services $637,017 · management and general $108,282 · fundraising $47,901

• 11d · Fees: lobbying

  total $273,000 · program services $233,337 · management and general $39,663

• 11f · Fees: investment management

  total $721,608 · program services $616,768 · management and general $104,840

• 11g · Fees: other

  total $407,402,794 · program services $348,212,631 · management and general $59,190,163 · fundraising $0

• 12 · Advertising and promotion

  total $1,465,082 · program services $1,251,644 · management and general $212,758 · fundraising $680

• 13 · Office expenses

  total $9,617,427 · program services $8,103,648 · management and general $1,377,481 · fundraising $136,298

• 14 · Information technology

  total $41,118,014 · program services $35,144,118 · management and general $5,973,896

• 16 · Occupancy

  total $81,940,998 · program services $70,036,070 · management and general $11,904,928

• 17 · Travel

  total $13,838,429 · program services $11,819,101 · management and general $2,009,044 · fundraising $10,284

• 20 · Interest

  total $70,520,661 · program services $60,274,955 · management and general $10,245,706

• 22 · Depreciation, depletion and amortization

  total $136,463,958 · program services $116,636,408 · management and general $19,826,185 · fundraising $1,365

• 23 · Insurance

  total $46,447,583 · program services $39,699,372 · management and general $6,748,211

• 24a · Other expenses: MED SUPPLIES AND SVCS

  total $619,421,453 · program services $529,427,822 · management and general $89,993,631

• 24b · Other expenses: OTHER TAX

  total $181,917,440 · program services $155,487,275 · management and general $26,430,165

• 24c · Other expenses: NON-MEDICAL SUPPLIES

  total $32,660,776 · program services $27,915,603 · management and general $4,745,173

• 24d · Other expenses: LICENSES

  total $5,253,767 · program services $4,469,873 · management and general $759,802 · fundraising $24,092

• 24e · All other expenses

  total $37,550,685 · program services $32,085,735 · management and general $5,454,023 · fundraising $10,927

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $47,114,853 · end of year $197,965,890

• 2 · Savings and temporary cash investments

  beginning of year $623,422,864 · end of year $898,757,288

• 4 · Accounts receivable

  beginning of year $457,238,780 · end of year $429,727,263

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $160,427,817 · end of year $171,260,770

• 8 · Inventories for sale or use

  beginning of year $82,776,988 · end of year $64,517,039

• 9 · Prepaid expenses and deferred charges

  beginning of year $47,044,899 · end of year $35,479,242

• 10a · Land, buildings and equipment: cost or other basis

  $3,653,313,558

• 10b · Land, buildings and equipment: accumulated depreciation

  $2,358,797,075

• 10c · Land, buildings and equipment, net

  beginning of year $1,297,318,996 · end of year $1,294,516,483

• 11 · Investments: publicly traded securities

  beginning of year $1,350,711,836 · end of year $1,293,624,263

• 12 · Investments: other securities

  beginning of year $332,518,580 · end of year $379,778,108

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $38,247,875 · end of year $35,034,883

• 15 · Other assets

  beginning of year $318,397,855 · end of year $327,305,087

• 17 · Accounts payable and accrued expenses

  beginning of year $400,344,313 · end of year $430,982,611

• 19 · Deferred revenue

  beginning of year $535,304 · end of year $665,471

• 20 · Tax-exempt bond liabilities

  beginning of year $1,407,717,361 · end of year $1,402,030,807

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $200,000,000

• 25 · Other liabilities

  beginning of year $575,653,577 · end of year $637,608,502

• 27 · Net assets without donor restrictions

  beginning of year $2,170,198,195 · end of year $2,244,489,257

• 28 · Net assets with donor restrictions

  beginning of year $200,772,593 · end of year $212,189,668

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

THE ORGANIZATION HAS POLICIES REGARDING THE ELIGIBILITY OF EXECUTIVES FOR FIRST CLASS TRAVEL FOR FLIGHTS EXCEEDING SIX HOURS IN DURATION. THESE BENEFITS WERE REPORTED AND TREATED AS TAXABLE INCOME.

Schedule J, Part I, Line 1a Travel for companions

THE ORGANIZATION HAS POLICIES REGARDING THE ELIGIBILITY OF EXECUTIVES FOR TRAVEL FOR COMPANIONS. THESE BENEFITS WERE REPORTED AND TREATED AS TAXABLE INCOME.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

THE ORGANIZATION HAS POLICIES REGARDING THE ELIGIBILITY OF EXECUTIVES FOR HOUSING ALLOWANCES. THESE BENEFITS WERE REPORTED AND TREATED AS TAXABLE INCOME.

Schedule J, Part I, Line 4a Severance or change-of-control payment

THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS IN CALENDAR YEAR 2024: DOUGLAS KOEKKOEK: $61,027 SCOTT FOSTER: $396,592 BRIAN SHIPLEY: $40,908 SEAN GREGORY: $683,369

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER, EXECUTIVE VICE PRESIDENTS, SENIOR VICE PRESIDENTS, CERTAIN PHYSICIANS, AND OTHER HIGHLY COMPENSATED EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN VARIOUS NONQUALIFIED RETIREMENT PLANS. CONTRIBUTIONS TO THESE PLANS AND RELATED INVESTMENT RETURNS ARE DISCLOSED ON SCHEDULE J AS DEFERRED COMPENSATION AND AS BONUS COMPENSATION WHEN PAID TO THE INDIVIDUAL. THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2024 (DEFERRED/PAID): RICHARD DECARLO: $269,356/$1,263,263 MICHAEL P. DWYER: $186,157/$0 STEVEN GLENN: $201,624/$747,050 THOMAS KARNES: $104,642/$0 KIMBERLY SULLIVAN: $130,476/$0 MICHELLE JAMES: $140,492/$0 EVE LOGSDON: $139,503/$0 CHARLES PROSPER: $237,309/$0 SEAN GREGORY: ($8,332)/$1,185,971 SARAH NESS: $256,094/$0 DARRIN MONTALVO: $305,497/$0 DOUGLAS KOEKKOEK: $236,353/$549,036 ELIZABETH DUNNE: $0/$431,884 RON SAXTON: $0/$88,042 WEN-HUAN S. HO, M.D.: $111,233/$0 ZHAO GUANQUAN: $41,394/$131,677

Schedule J, Part I, Line 7 Non-fixed payments

PeaceHealth offers Long-Term Incentive Pay ("LTIP") to eligible executives based on the achievement of predefined, long-term strategic initiatives to attract, retain, and motivate senior leadership through rewards based on the achievement of PeaceHealth's strategic plan and long-term success, consistent with its mission, values, and tax-exempt status, to encourage teamwork and collaboration through effective senior leadership, and to provide competitive total remuneration and balance both annual and longer-term performance objectives. The system president/CEO will recommend executive employees who are eligible to participate in this plan for each performance period/LTIP plan cycle, as approve by the governance committee of the PeaceHealth board. The performance measures for each Plan Cycle are recommended by the System President/CEO and approved by the Governance Committee. Performance measures are System-wide and will have a specified weighting. The governance committee in its sole discretion reserves the right to approve and/or revise the eligible participants, performance measures, goals, weights, and awards under this Plan for any or all participants, or to modify the funding of the LTIP for extraordinary events or significant achievements. Such changes shall be based on the governance committee's defined limits within its fiduciary and governance responsibilities. These modifications and considerations may be recommended by the President/CEO to the governance committee for its review and approval, and or made by the committee itself. The LTIP will be reviewed annually and modified as needed to ensure that it reflects PeaceHealth's mission, values, and business needs. To accomplish this, the LTIP will be subject to approval by the Governance Committee and must further the achievement of PeaceHealth's mission and charitable purposes, such as improvement in quality, customer satisfactions, access, cost and financial stability. Financial improvement must be accomplished in ways that are consistent with the fulfillment of PeaceHealth's mission and charitable purpose.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• PEACEHEALTH ASC BELLINGHAM LLC

  AMBULATORY CENTER · WA · income $8,132,845 · assets -$1,431,601

  Directly controlled by PEACEHEALTH

• PEACEHEALTH IMAGING LLC

  MEDICAL · DE · income $0 · assets $0

  Directly controlled by PEACEHEALTH

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• RB Ambulatory Surgery Center

  N/A · Medical · OR

  Directly controlled by NA

• PeaceHealth Southwest LLC

  Related · Healthcare · WA · 51% owned · share of income $0 · share of assets $0

  Directly controlled by PEACEHEALTH

• PeaceHealth Riverbend LLC

  Related · Healthcare · OR · 60% owned · share of income $0 · share of assets $0

  Directly controlled by PEACEHEALTH

• Bellingham Northwest LLC

  Related · Healthcare · WA · 51% owned · share of income $0 · share of assets $0

  Directly controlled by PEACEHEALTH

• Oregon Network LLC

  Related · Healthcare · OR · 51% owned · share of income $0 · share of assets $0

  Directly controlled by PEACEHEALTH

• ARDON HEALTH HOLDINGS LLC

  Unrelated · PHARMACY · DE · 35% owned · share of income $4,803,813 · share of assets $0

  Directly controlled by PEACEHEALTH

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CLARE REASSURANCE

  C Corporation · REINSURANCE

  Directly controlled by PH NETWORKS

• LOWER COLUMBIA REGION POOLED INCOME FUND

  Trust · POOLED INC FUND · WA · controlled entity

  Directly controlled by PEACEHEALTH

• OREGON REGION POOLED INCOME FUND

  Trust · POOLED INC FUND · WA · controlled entity

  Directly controlled by PEACEHEALTH

• PEACEHEALTH AMBULATORY LLC

  C Corporation · MEDICAL · WA

  Directly controlled by PH NETWORKS

• PEACEHEALTH CLINICALLY INTEGRATED NETWORK

  C Corporation · MEDICAL · WA

  Directly controlled by PH AMBULATORY LLC

• PEACEHEALTH DIRECT CONTRACTING LLC

  C Corporation · MEDICAL · WA

  Directly controlled by PH AMBULATORY LLC

• PEACEHEALTH NETWORKS ON DEMAND LLC

  C Corporation · MEDICAL CLINICS · WA

  Directly controlled by PH NETWORKS

• POOLED INCOME FUND OF PEACEHEALTH #1

  Trust · POOLED INC FUND · WA · controlled entity

  Directly controlled by PEACEHEALTH

• SIUSLAW REGION POOLED INCOME FUND

  Trust · POOLED INC FUND · WA · controlled entity

  Directly controlled by PEACEHEALTH

• SOUTHWEST REGION POOLED INCOME FUND

  Trust · POOLED INC FUND · WA · controlled entity

  Directly controlled by PEACEHEALTH

• WHATCOM REGION POOLED INCOME FUND

  Trust · POOLED INC FUND · WA · controlled entity

  Directly controlled by PEACEHEALTH