Rhode Island Hospital
- Assets
- $1.7b
- Revenue
- $1.8b
- Investments
- $62.9m
- Employees
- 10,460
- Location
- Providence, RI
- Founding
- 11/1993
- Data as of
- 09/2021
- EIN
- 05-0258954
Organization Overview
Rhode Island Hospital is located in Providence, RI. The organization was established in 1993. 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 09/2021, Rhode Island Hospital employed 10,460 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island 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, Rhode Island Hospital generated $1.8b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $1.7b during the year ending 09/2021. While expenses have increased by 4.8% per year over the past 6 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, Rhode Island Hospital has awarded 46 individual grants totaling $11,688,920. 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, RHODE ISLAND HOSPITAL (RIH) IS COMMITTED TO ITS MISSION: DELIVERING HEALTH WITH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATIENT CARE:RIH IS THE STATE'S LARGEST HOSPITAL, AND ITS ONLY LEVEL I TRAUMA CENTER AND VERIFIED BURN CENTER. IT PROVIDES A COMPREHENSIVE RANGE OF DIAGNOSTIC AND THERAPEUTIC HEALTH CARE SERVICES TO INPATIENTS AND OUTPATIENTS. RIH HAS PARTICULAR EXPERTISE IN CANCER, CARDIOLOGY, DIABETES, EMERGENCY MEDICINE, NEUROSCIENCES, ORTHOPEDICS, AND MORE. HASBRO CHILDREN'S HOSPITAL (HCH), RIH'S PEDIATRIC DIVISION, IS THE REGION'S PREMIER PROVIDER OF PEDIATRIC CLINICAL CARE. HCH OFFERS A BROAD SPECTRUM OF BOTH ROUTINE CARE AND SPECIALTY PROGRAMS NOT AVAILABLE ELSEWHERE AND HAS THE ONLY PEDIATRIC EMERGENCY DEPARTMENT, LEVEL I TRAUMA CENTER, PEDIATRIC CRITICAL CARE TEAMS, AND 24-HOUR AMBULANCE IN THE REGION. (CONTINUED ON SCHEDULE O)
MEDICAL EDUCATION:RIH PROVIDES THE SETTING FOR AND SUBSTANTIALLY SUPPORTS MEDICAL EDUCATION IN VARIOUS CLINICAL TRAINING AND NURSING PROGRAMS. RIH IS DESIGNATED AS THE PRINCIPAL TEACHING HOSPITAL OF THE WARREN ALPERT MEDICAL SCHOOL OF BROWN UNIVERSITY. THE TOTAL COST OF DIRECT MEDICAL EDUCATION PROVIDED BY RIH EXCEEDED THE REIMBURSEMENT RECEIVED FROM THIRD-PARTY PAYORS BY $83.5 MILLION IN FISCAL YEAR 2021. (CONTINUED ON SCHEDULE O)
RESEARCH:RIH CONDUCTS EXTENSIVE MEDICAL RESEARCH AND IS IN THE FOREFRONT OF BIOMEDICAL HEALTH CARE DELIVERY RESEARCH AND AMONG THE LEADERS NATIONALLY IN THE NATIONAL INSTITUTES OF HEALTH PROGRAMS. RIH ALSO SPONSORS MANY CLINICAL TRIALS WHICH PROVIDE VALUABLE RESEARCH INFORMATION AS WELL AS CUTTING EDGE TREATMENT FOR PATIENTS IN THE REGION. FEDERAL SUPPORT ACCOUNTS FOR APPROXIMATELY 66% OF ALL EXTERNALLY FUNDED RESEARCH AT RIH. RESEARCHERS FOCUS ON BASIC RESEARCH AND CLINICAL TRIALS WHICH INVESTIGATE PREVENTION AND TREATMENT OF COVID-19, HIV/AIDS, OBESITY, CANCER, DIABETES, CARDIAC DISEASE, NEUROLOGICAL PROBLEMS, ORTHOPEDIC ADVANCEMENTS, AND MENTAL HEALTH CONCERNS. INCLUDED IN THE TOTALS ARE $19.8 MILLION OF RESEARCH GRANTS FROM FOR-PROFIT ORGANIZATIONS THAT ARE NOT REPORTED IN SCHEDULE H. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexios G Carayannopoulos DO Physician | 40 | $858,382 | |
Douglas Anthony MD Physician | 40 | $660,231 | |
Latha Sivaprasad MD Fmr. Chief Medical Officer | 0 | $639,338 | |
Keith-Austin Scarfo MD Physician | 40 | $459,996 | |
Latha Pisharodi MD Physician | 40 | $437,123 | |
Thomas P Cameron MD Physician | 40 | $390,343 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brown Medicine Medical Services | 9/29/21 | $32,549,244 |
Brown Surgical Associates Medical Services | 9/29/21 | $10,276,712 |
Brown Neurology Medical Services | 9/29/21 | $6,865,827 |
Brown Emergency Medicine Medical Services | 9/29/21 | $7,066,206 |
Shields Pharmacy Of Rillc Health Care | 9/29/21 | $6,121,898 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $16,126,307 |
| Government grants | $101,063,816 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,022,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $118,212,911 |
| Total Program Service Revenue | $1,655,059,791 |
| Investment income | $11,115,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,227,500 |
| Net Gain/Loss on Asset Sales | $39,315,546 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$105,975 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,811,390,972 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,054,438 |
| Grants and other assistance to domestic individuals. | $35,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,142,472 |
| Compensation of current officers, directors, key employees. | $742,637 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $508,590,426 |
| Pension plan accruals and contributions | $32,538,827 |
| Other employee benefits | $85,720,135 |
| Payroll taxes | $35,909,037 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $15,365 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,094,844 |
| Fees for services: Other | $166,749,566 |
| Advertising and promotion | $128,501 |
| Office expenses | $28,506,709 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,799,872 |
| Travel | $196,522 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,451,715 |
| Interest | $6,866,160 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,827,822 |
| Insurance | $30,114,345 |
| All other expenses | $48,239,373 |
| Total functional expenses | $1,734,956,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,040,713 |
| Savings and temporary cash investments | $138,162,306 |
| Pledges and grants receivable | $9,965,004 |
| Accounts receivable, net | $151,779,166 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $29,984,916 |
| Prepaid expenses and deferred charges | $4,232,983 |
| Net Land, buildings, and equipment | $513,597,212 |
| Investments—publicly traded securities | $389,549,474 |
| Investments—other securities | $62,859,205 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $399,179,742 |
| Total assets | $1,719,350,721 |
| Accounts payable and accrued expenses | $157,583,781 |
| Grants payable | $0 |
| Deferred revenue | $897,188 |
| Tax-exempt bond liabilities | $164,002,386 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $147,750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $339,845,748 |
| Total liabilities | $810,079,103 |
| Net assets without donor restrictions | $452,072,017 |
| Net assets with donor restrictions | $457,199,601 |
| 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 | $1,719,350,721 |
Grants Awarded
Over the last fiscal year, Rhode Island Hospital has awarded $1,047,383 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: General Support | $961,133 |
Providence, RI PURPOSE: General Support | $45,000 |
Providence, RI PURPOSE: General Support | $31,250 |
Providence, RI PURPOSE: General Support | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 39 grants that Rhode Island Hospital has recieved totaling $3,638,812.
| Awarding Organization | Amount |
|---|---|
Warren Alpert Foundation Providence, RI PURPOSE: DONATION | $804,668 |
Van Beuren Charitable Foundation Inc New York, NY PURPOSE: HASBRO- CAPITAL IMPROVEMENTS/SURGICAL AND ONCOLOGY UNITS | $800,000 |
J Craig Venter Institute Inc La Jolla, CA PURPOSE: RESEARCH SUBGRANT | $330,012 |
Yawkey Foundation Ii Dedham, MA PURPOSE: SUPPORT FOR EXPANSION AND RENOVATION OF HASBRO EMERGENCY DEPARTMENT | $300,000 |
Cystic Fibrosis Foundation Bethesda, MD PURPOSE: CF CARE CENTER | $162,585 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: MNCH DISCOVERY AND TOOLS | $150,000 |
Endowment Analysis
| Beg. Balance | $475,684,077 |
| Earnings | $107,027,228 |
| Net Contributions | $302,153,870 |
| Other Expense | $161,872,402 |
| Ending Balance | $722,992,773 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,654,893,576 | $997,837,414 |
South Shore Hospital Inc South Weymouth, MA | $826,172,591 | $754,117,212 |
Bridgeport Hospital Bridgeport, CT | $853,709,766 | $729,975,555 |
Danbury Hospital Danbury, CT | $968,428,982 | $798,413,805 |
Stamford Hospital Stamford, CT | $1,225,537,299 | $730,562,732 |
Kent County Memorial Hospital Providence, RI | $281,809,597 | $616,989,024 |
The Miriam Hospital Providence, RI | $711,733,403 | $598,924,243 |
Berkshire Medical Center Inc Pittsfield, MA | $782,927,301 | $631,822,397 |
Greenwich Hospital Greenwich, CT | $950,106,833 | $525,077,147 |
Hospital Of Central Connecticut At New Britain General And Bradley Me New Britain, CT | $589,328,146 | $510,239,174 |
The Lowell General Hospital Lowell, MA | $603,322,132 | $492,829,849 |