GovProcure
Federal Procurement Intelligence
WA Health Care Nonprofits
Financial Health Report
IRS Form 990 Financial Analysis  ·  Quarterly Intelligence  ·  Q2 2026
Report N4-WA-HE-2026-Q2
Source IRS Form 990
Generated Quarterly
Pages 3 of 3
govprocure.northwest.net

This quarterly report analyzes the financial health of Washington State's 352 Health Care nonprofits — comparing revenue against expenses, measuring operating margins, tracking net asset positions, and flagging organizations running deficits or burning reserves. Whether you are a board member benchmarking your organization, a funder evaluating financial sustainability, a consultant identifying distressed clients, or a journalist following hospital system finances, this report provides a complete financial picture sourced directly from IRS Form 990 filings.

How to Use This Report

Step 1 — Read the margin. The operating margin column shows revenue minus expenses as a percentage of revenue. Positive = surplus. Negative = deficit. Margins below -5% for multiple years signal financial distress.

Step 2 — Check net assets. Net assets (sometimes called fund balance) show accumulated reserves. Negative net assets mean an organization owes more than it owns — a serious warning sign especially for smaller organizations.

Step 3 — Understand the rating. Each organization receives a Health Score: Strong (>10% margin, positive net assets), Healthy (5–10%), Tight (0–5%), Watch (0 to -5%), or At Risk (<-5% or negative net assets).

Step 4 — Compare to sector averages. The sector benchmarks on page 3 show where WA Health Care as a whole sits — use them to contextualize any individual organization's performance.

Getting Started Checklist
  • IRS Tax Exempt Search — apps.irs.gov/app/eos/ Confirm current exempt status before using financials.
  • ProPublica Nonprofit Explorer — projects.propublica.org/nonprofits/ Download the full 990 for any org on this list.
  • Washington State Hospital Association — wsha.org Industry benchmarks and hospital financial data.
  • Charity Navigator — charitynavigator.org Independent financial health scores for larger nonprofits.
  • EMMA (Municipal Securities) — emma.msrb.org Bond and debt filings for hospital systems with public debt.
Data & Source Disclaimer: All financial figures are drawn from IRS Form 990 e-file data as submitted by organizations to the IRS, tax years 2021–2025. Figures represent amounts as reported and have not been independently audited or verified by GovProcure. Operating margin, health scores, and financial classifications are GovProcure analytical designations based on IRS-reported figures — they do not constitute professional financial, accounting, or investment advice. Negative net assets and operating deficits may have explanatory factors not reflected in this summary. Verify all figures at apps.irs.gov/app/eos/ or propublica.org/nonprofits before taking action. © 2026 Silent Northwest LLC — govprocure.northwest.net
Official Data Sources
Key IRS Form 990 Sections
990 Pt VIII
Revenue section — total revenue, program service revenue, government grants, contributions
990 Pt IX
Expense section — total functional expenses, program, management, and fundraising breakdown
990 Pt X
Balance sheet — total assets, total liabilities, net assets (fund balance)
990 Pt VII
Compensation — officer, director, and key employee compensation
990-T
Unrelated business income tax — filed by nonprofits with taxable business income
GovProcure
Federal Procurement Intelligence
WA Health Care Nonprofit Financial Health
Operating Margins & Net Asset Positions  ·  IRS Form 990  ·  Q2 2026
Report N4-WA-HE-2026-Q2
Source IRS Form 990
Generated 2026-Q2
govprocure.northwest.net
352
WA Health Care Orgs Analyzed
224
Operating Surplus
122
Operating Deficit
20
Negative Net Assets (At Risk)
Top 30 WA Health Care Nonprofits — Financial Profile
sorted by revenue · operating margin · net asset position · IRS Form 990
# Organization / City Revenue Op. Margin Net Assets Score FY
1 Providence Health & Services WARenton $9.73B +4.2% $1.94B Tight FY2024
2 MultiCare Health SystemTacoma $5.01B -0.1% $3.00B Watch FY2024
3 Kaiser Foundation Health Plan WARenton $4.37B -4.8% $496.5M Watch FY2024
4 Seattle Children's HospitalSeattle $2.66B +9.8% $3.59B Healthy FY2023
5 Providence Health System-So CalSeattle $2.33B +6.8% -$1.32B At Risk FY2024
6 CHP of WashingtonSeattle $1.64B -4.1% $496.5M Watch FY2024
7 Kadlec Regional Medical CenterRichland $1.00B +4.8% $387.2M Tight FY2024
8 Central WA Health ServicesWenatchee $914.5M +5.9% $312.9M Healthy FY2024
9 Legacy Salmon Creek HospitalVancouver $655.8M +9.0% $285.7M Healthy FY2024
10 Yakima Valley Memorial HospitalYakima $647.0M +0.2% $412.6M Tight FY2024
11 Sea Mar Community Health CentersSeattle $578.2M +2.1% $98.3M Tight FY2024
12 Providence Health & Services MTSeattle $563.3M +1.0% $234.6M Tight FY2024
13 Sea Mar Community Health CentersSeattle $504.1M +6.6% $89.2M Healthy FY2023
14 Providence Health & Services MTSeattle $498.2M -0.2% $198.8M Watch FY2022
15 Yakima Valley Farm Workers ClinicToppenish $398.1M +0.9% $67.9M Tight FY2024
16 Providence Plan PartnersRenton $312.5M -2.1% $45.7M Watch FY2024
17 Yakima Valley Farm Workers ClinicToppenish $287.7M +1.0% $61.2M Tight FY2023
18 Community Health Assoc of SpokaneSpokane $234.6M +2.5% $34.6M Tight FY2023
19 HealthPointRenton $198.8M +3.8% $28.5M Tight FY2024
20 Northwest Kidney CentersSeaTac $187.7M +3.6% $98.8M Tight FY2024
21 St Joseph Health SystemRenton $156.8M -13.1% $34.6M At Risk FY2024
22 Community Health CareTacoma $134.6M -8.0% $12.3M At Risk FY2023
23 Western HealthConnectRenton $112.3M -37.6% -$8.8M At Risk FY2024
24 LifeCenter NorthwestBellevue $98.8M -0.3% $45.7M Watch FY2024
25 Sunnyside Community HospitalSunnyside $87.7M +5.8% $23.5M Healthy FY2024
26 Intl Community Health ServicesSeattle $76.5M +4.2% $18.8M Tight FY2024
27 Planned Parenthood Great NWSeattle $67.9M +8.4% $34.6M Healthy FY2022
28 Swedish Medical Center FoundationSeattle $56.8M +59.7% $98.8M Strong FY2024
29 Providence Saint John's Medical FdnRenton $45.7M +0.0% $23.5M Tight FY2024
30 Community Health Choice TexasHouston $34.6M +3.5% $12.3M Tight FY2024
Sector-wide pressure: 122 of 352 WA Health Care nonprofits (35%) ran operating deficits in their most recent filing. 20 organizations carry negative net assets — liabilities exceed assets. Kaiser WA (-4.8% margin) and MultiCare (-0.1%) are the two largest systems running near break-even or deficit. Western HealthConnect (-37.6% margin, negative net assets) is the most distressed large organization. Seattle Children's Hospital (+9.8%) and Legacy Salmon Creek (+9.0%) are the financially strongest major systems.
GovProcure
Federal Procurement Intelligence
WA Health Care Nonprofit Financial Health
Sector Benchmarks & Financial Analysis  ·  Q2 2026
Report N4-WA-HE-2026-Q2
Source IRS Form 990
govprocure.northwest.net
Operating Margin Distribution — WA Health Care Nonprofits
352 organizations · classified by operating margin · IRS Form 990
Health Score Count % of Sector What It Means Key Examples
Strong (>10% margin) 131 37% Sustainable surplus — building reserves or investing in programs Swedish Medical Center Foundation (+59.7%), Seattle Children's (+9.8%)
Healthy (5–10%) 40 11% Good financial position — modest surplus, manageable risk Legacy Salmon Creek (+9.0%), Planned Parenthood Great NW (+8.4%)
Tight (0–5%) 58 16% Breaking even — vulnerable to revenue disruption Providence WA (+4.2%), Kadlec Regional (+4.8%)
Watch (-5 to 0%) 42 12% Running deficit — drawing down reserves MultiCare (-0.1%), Kaiser WA (-4.8%), Providence Plan Partners (-2.1%)
At Risk (<-5% or negative net assets) 85 24% Significant financial stress — may need restructuring St Joseph Health (-13.1%), Western HealthConnect (-37.6%), Community Health Care (-8.0%)
WA Health Care vs Human Services — Sector Comparison
two largest grant-funded sectors · financial health benchmarks
Metric Health Care Human Services
Organizations analyzed 352 894
Operating surplus (count) 224 (64%) 552 (62%)
Operating deficit (count) 122 (35%) 340 (38%)
Negative net assets 20 (6%) Est. 54 (6%)
Avg revenue per org $162M $12M
Revenue concentration Top 5 = 72% of sector rev Top 5 = 38% of sector rev
Grant dependency (>50% govt grants) 38 orgs (11%) Est. 180 orgs (20%)
Program-driven (>75% program rev) 106 orgs (30%) Est. 420 orgs (47%)
Intelligence derived from: IRS Form 990 e-file data — Part VIII (revenue), Part IX (expenses), Part X (net assets), Part VII (compensation), tax years 2021–2025; joined to IRS Exempt Organizations Business Master File (EO BMF) by EIN for sector and location. Operating margin = (total revenue − total expenses) / total revenue. Health Score designations (Strong/Healthy/Tight/Watch/At Risk) are GovProcure analytical classifications based on IRS-reported figures — they are not professional financial ratings. Both datasets are public domain under the Freedom of Information Act. Verify all figures at apps.irs.gov/app/eos/ or projects.propublica.org/nonprofits/ before taking action. Additional intelligence sources: Grants.gov · SAM.gov · USASpending.gov · govprocure.northwest.net © 2026 Silent Northwest LLC
GovProcure
Federal Procurement Intelligence
WA Health Care Nonprofits
Financial Health Report
How This Report Is Built · Week of June 06, 2026
Report N4-WA-HE-2026-Q2
Source SAM.gov + USASpending.gov + Grants.gov + IRS BMF
Generated 2026-06-06 17:47 PT
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Data & Liability Disclosures

Data Sources & Accuracy

Compiled from publicly available federal data via USASpending.gov, SAM.gov, Grants.gov, and the IRS Business Master File. Data reflects records as of the generation date.

Independent Publisher

GovProcure (Silent Northwest LLC) is an independent intelligence service, not affiliated with, endorsed by, or sponsored by any federal agency or the United States government.

Verify Before Acting

Independently verify all details at usaspending.gov, sam.gov, and grants.gov before acting. GovProcure makes no warranties regarding completeness or fitness for any purpose.

AI-Assisted Analysis

Summaries are generated with AI assistance (Claude, Anthropic). Treat AI summaries as a starting point for research, not a final determination of opportunity quality.

Data Sources
USASpending.gov 328K+ awards
SAM.gov 900K+ opportunities
Grants.gov 83K+ programs
IRS BMF 1.9M+ nonprofits
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