The Miriam Hospital
- Assets
- $711.7m
- Revenue
- $598.9m
- Investments
- $70.3m
- Employees
- 4,435
- Location
- Providence, RI
- Founding
- 01/1935
- Data as of
- 09/2021
- EIN
- 05-0258905
Organization Overview
The Miriam Hospital is located in Providence, RI. The organization was established in 1935. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Miriam Hospital employed 4,435 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miriam Hospital 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 09/2021, Miriam Hospital generated $598.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $558.6m during the year ending 09/2021. While expenses have increased by 3.2% 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.
Since 2015, Miriam Hospital has awarded 94 individual grants totaling $3,520,168. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AS A FOUNDING HOSPITAL IN THE LIFESPAN HEALTH SYSTEM, THE MIRIAM HOSPITAL (TMH) IS COMMITTED TO ITS MISSION: DELIVERING HEALTH WITH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATIENT CARE:TMH OFFERS EXPERTISE IN CARDIOLOGY, ONCOLOGY, ORTHOPEDICS, MEN'S HEALTH, AND MINIMALLY INVASIVE SURGERY, AND IS HOME TO THE STATE'S FIRST JOINT COMMISSION- CERTIFIED STROKE CENTER AND ROBOTIC SURGERY PROGRAM. SERVICES AND PROGRAMS PROVIDED BY TMH ALSO INCLUDE ANESTHESIOLOGY; GENERAL MEDICINE; GENERAL SURGERY; PSYCHIATRY; EMERGENCY MEDICINE; CARDIOVASCULAR CARE; ORTHOPEDICS; DERMATOLOGY; NUCLEAR CARDIOLOGY; RADIOLOGY; LABORATORY; RENAL DIALYSIS; UROLOGY; GASTROENTEROLOGY; ENDOCRINOLOGY; GYNECOLOGY; NEPHROLOGY; NEUROLOGY; AND OPHTHALMOLOGY. (CONTINUED ON SCHEDULE O).
RESEARCH:TMH HAS 383 RESEARCH PROJECTS WITH TOTAL EXPENSES OF $51.5 MILLION IN FISCAL YEAR 2023 (87 INVESTIGATORS AND 155 EMPLOYEES). TMH CONDUCTS EXTENSIVE MEDICAL RESEARCH AND IS IN THE FOREFRONT OF BIOMEDICAL HEALTH CARE DELIVERY RESEARCH AND AMONG THE LEADERS NATIONALLY IN NATIONAL INSTITUTES OF HEALTH PROGRAMS. TMH ALSO SPONSORS A SIGNIFICANT LEVEL OF THESE RESEARCH ACTIVITIES. FEDERAL SUPPORT ACCOUNTS FOR APPROXIMATELY 57% OF ALL EXTERNALLY FUNDED RESEARCH AT TMH. RESEARCHERS FOCUS ON CLINICAL TRIALS WHICH INVESTIGATE PREVENTION AND TREATMENT OF HIV/AIDS, OBESITY, CANCER, DIABETES, CARDIAC DISEASE, AND MENTAL HEALTH CONCERNS. INCLUDED IN TOTAL PROGRAM EXPENSES AND REVENUE ARE $354K OF RESEARCH GRANTS FROM FOR-PROFIT ORGANIZATIONS THAT ARE NOT REPORTED IN SCHEDULE H.(SEE SCHEDULE O).
MEDICAL EDUCATION:TMH PROVIDES THE SETTING FOR AND SUBSTANTIALLY SUPPORTS MEDICAL EDUCATION IN VARIOUS CLINICAL TRAINING AND NURSING PROGRAMS. TMH IS DESIGNATED AS A MAJOR TEACHING AFFILIATE OF THE WARREN ALPERT MEDICAL SCHOOL OF BROWN UNIVERSITY. THE TOTAL COST OF DIRECT MEDICAL EDUCATION PROVIDED BY TMH EXCEEDED THE REIMBURSEMENT RECEIVED FROM THIRD-PARTY PAYORS BY $18.9 MILLION IN FISCAL YEAR 2023. (CONTINUED ON SCHEDULE O).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy J Babineau Fmr. Trustee | 0 | $0 | |
Ziya L Gokaslan MD Trustee | Trustee | 0.5 | $0 |
Paul J Adler Secretary | Officer | 5 | $0 |
David A Kirshner Treas.- 11/22 | Officer | 0 | $0 |
G Alan Kurose Fmr. Trustee | 0 | $0 | |
Maria P Ducharme President | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amn Healthcare Inc Contract Labor | 9/29/23 | $11,639,248 |
Aya Healthcare Inc Contract Labor | 9/29/23 | $6,878,087 |
Brown Medicine Medical Services | 9/29/23 | $8,486,838 |
Brown Emergency Medicine Medical Services | 9/29/23 | $2,413,180 |
Brown Surgical Associates Inc Medical Services | 9/29/23 | $3,924,899 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,975,575 |
| Investment income | $7,657,954 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $741,410 |
| Net Gain/Loss on Asset Sales | $14,471,293 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $598,924,243 |
| Statement of Expenses | |
|---|---|
| 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. | $608,511 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,571,616 |
| Pension plan accruals and contributions | $10,112,501 |
| Other employee benefits | $30,368,398 |
| Payroll taxes | $13,285,822 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $1,247 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $916,323 |
| Fees for services: Other | $28,818,284 |
| Advertising and promotion | $218,516 |
| Office expenses | $48,883,433 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,137,579 |
| Travel | $258,589 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $339,244 |
| Interest | $1,827,774 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,397,103 |
| Insurance | $7,606,751 |
| All other expenses | $0 |
| Total functional expenses | $558,583,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,737,618 |
| Savings and temporary cash investments | $95,676,660 |
| Pledges and grants receivable | $1,312,511 |
| Accounts receivable, net | $43,521,185 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,895,819 |
| Prepaid expenses and deferred charges | $3,839,383 |
| Investments—publicly traded securities | $171,678,285 |
| Investments—other securities | $70,300,264 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $143,535,722 |
| Total assets | $711,733,403 |
| Accounts payable and accrued expenses | $56,356,909 |
| Grants payable | $0 |
| Deferred revenue | $37,208 |
| Tax-exempt bond liabilities | $41,167,492 |
| 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 | $49,250,000 |
| Other liabilities | $95,044,435 |
| Total liabilities | $241,856,044 |
| Net assets without donor restrictions | $391,930,253 |
| Net assets with donor restrictions | $77,947,106 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $469,877,359 |
Grants Awarded
Over the last fiscal year, The Miriam Hospital has awarded $361,030 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BROWN UNIVERSITY PURPOSE: General Support | $179,530 |
CITY OF PROVIDENCE PURPOSE: General Support | $135,000 |
FESTIVAL BALLET PURPOSE: General Support | $20,000 |
JEWISH ALLIANCE OF GREATER RI PURPOSE: General Support | $6,500 |
MIRIAM HOSPITAL FOUNDATION PURPOSE: General Support | $20,000 |