Multicare Foundations EIN 91-1514257

Multicare Foundations

EIN  91-1514257 Public charity (501(c)(3)) Tacoma, WA Founded 1991
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/11/26 · see original filing: IRS
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Size
$10–100M
What they do
Raises and distributes philanthropic funds to support breast imaging, cancer treatment, and specialized oncology services for communities across the Pacific Northwest.
Leadership
Elliot Stockstad · Exec.dir. Mhf · $263K
Money in and out
$17.8M revenue, $8.9M expenses
Bottom line
52% program efficiency

Raises and distributes philanthropic funds to support breast imaging, cancer treatment, and specialized oncology services for communities across the Pacific Northwest. For fiscal year 2024 it reported $17.8M in revenue, $8.9M in expenses, and $90.1M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$17.8M
Pt VIII · Ln 12
Total expenses
$8.9M
Pt IX · Ln 25
Net assets
$90.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $8.9M
Where spending went · Part IX cols B–D
Program services $0.52 Management & general $0.18 Fundraising $0.30
Program efficiency
52%
of spending reaches programs▼ -16% vs prior filing year
Operating runway
4.5mo
months of highly liquid reserves at operating expense rate▼ -75% vs prior filing year
Surplus margin
+50%
revenue over expenses, this year▼ -4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$17.8M
FY2024▲ +10%
Expenses
$8.9M
FY2024▲ +15%
Total assets
$92.1M
FY2024▲ +24%
Total liabilities
$2.0M
FY2024▲ +77%
Total revenue
$17.8M
Pt VIII · Ln 12
Total expenses
$8.9M
Pt IX · Ln 25
Net assets
$90.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$8.9M
Total assetsPt X · Ln 16$92.1M
Program-expense ratioPt IX · col B52%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

3 program services account for $4.7M of program spending, described in the organization's own filed words · FY2024.
01

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…

$2.8Mprogram expense
02

In 2024 multicare foundations provided $1,089,754 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…

$1.1Mprogram expense
03

In 2024 multicare foundations provided $759,016 in funding for carol milgard breast center and for multicare radiation oncology and cancer institute. The breast center, a joint venture multicare health system-virginia mason franciscan health, is located in tacoma, wa, and is dedicated solely to breast imaging and procedures offering a…

$759Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMulticare Foundations
EINHdr · item D91-1514257
Principal addressHdr · item CTacoma, WA
WebsiteHdr · item Jsupport.multicare.org
Year of formationHdr · item L1991
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E120)
Ruling yearIRS BMFDec 1991

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Exec.dir. Mhf
$263,007Pt VII · Sec A
Exec.dir. Good Sam Fdn
$250,306Pt VII · Sec A
Exec.dir. Marketing
$228,774Pt VII · Sec A
Major Gifts Officer
$131,600Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A

Elliot Stockstad’s $263K as Exec.dir. Mhf is at the 37th percentile of top reported officer pay among 2900 $10–100M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Elliot Stockstad$263,007$200,673
Monica Ricarte Powers$250,306$193,673
Craig Davison$228,774$181,103
Carolyn Kadyk$161,550$174,558$164,751$161,137
Stephanie Cline$128,570$170,998
Angela Lee Hylton$139,626$113,677
Emma Conway$131,600
Angela Hylton$107,336

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$9.5M · 53%
Investment income$8.2M · 46%
Contributions & grants53%$9.5M
Investment income46%$8.2M
Other revenue$89K
— government grantsLn 1e$142K
Total revenueLn 12$17.8M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.52 Management & general $0.18 Fundraising $0.30
Program services52%$4.7M
Management & general18%$1.6M
Fundraising30%$2.7M
Total functional expensesLn 25$8.9M

Balance Sheet

Part X · end of year
CashLn 1$3.3M
Total assetsLn 16$92.1M
Total liabilitiesLn 26$2.0M
Total net assetsLn 32$90.1M
Months of cash on handcomputed4.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.3M · Operating expenses (Pt IX) $8.9M · Less non-cash grants $77K · Cash operating expenses/yr $8.8M
4.5 months
Where the money goes
Program services
Program services $4.7M · Total expenses $8.9M
52%
Management & General
Management & general $1.6M · Total expenses $8.9M
18%
Fundraising
Fundraising $2.7M · Total expenses $8.9M
30%
Cost to raise $1
Fundraising expense (3-yr avg) $2.6M · Solicited contributions (3-yr avg) $9.6M
$0.27 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $9.5M · Total revenue $17.8M
53%
Government reliance
Government grants $142K · Total revenue $17.8M
1%
Earned-income share
Program service revenue $0 · Total revenue $17.8M
0%
Investment reliance
Investment income $8.2M · Total revenue $17.8M
+46%
Program self-sufficiency
Program service revenue $0 · Total expenses $8.9M
0%
Growth & trend
Revenue growth (YoY)
This year $17.8M · Prior year $16.2M
+10%
Revenue CAGR
FY2020 $10.9M · FY2024 $17.8M
+13%
Net-asset trend (YoY)
End of year $90.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $17.8M · Expenses $8.9M
+50%
Liabilities-to-Assets
Total liabilities — · Total assets $92.1M
Net-asset ratio
Net assets $90.1M · Total assets $92.1M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $92.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Elliot Stockstad · Reported title EXEC.DIR. MHF · Highest reported compensation $263K · Total expenses $8.9M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.3M · Total expenses $8.9M
26%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 52%
Overhead ratio 18%
Fundraising cost ratio 28%
Revenue growth 10%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$10K
Grants paid · 14 grants · $30.0M · 2020–2024
Multicare Health SystemWA · FY2024$4,445,299
NavosWA · FY2024$180,655
Multicare Health SystemWA · FY2023$4,512,946
NavosWA · FY2023$234,873
Multicare Health SystemWA · FY2022$5,913,930
NavosWA · FY2022$11,734
Multicare Health SystemWA · FY2021$6,527,251
NavosWA · FY2021$279,133
Multicare Health SystemWA · FY2020$6,462,619
NavosWA · FY2020$1,164,757

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$17.8M revenue · viewing · ⤓ 990 PDF
FY2023$16.2M revenue · ⤓ 990 PDF
FY2022$13.5M revenue · ⤓ 990 PDF
FY2021$11.2M revenue · ⤓ 990 PDF
FY2020$10.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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