Rhode Island Hospital Foundation
- Assets
- $69.3m
- Revenue
- $16.4m
- Investments
- $19.3m
- Employees
- 0
- Location
- Providence, RI
- Founding
- 05/1994
- Data as of
- 09/2021
- EIN
- 05-0468736
Organization Overview
Rhode Island Hospital Foundation is located in Providence, RI. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island Hospital Foundation 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 Foundation generated $16.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $19.3m during the year ending 09/2021. While expenses have increased by 11.0% 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, Rhode Island Hospital Foundation has awarded 18 individual grants totaling $92,978,623. 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
TO BE OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES, AND MORE SPECIFICALLY, FOR THE PURPOSE OF SUPPORTING AND OTHERWISE BENEFITING AND BEING RESPONSIVE TO THE NEEDS OF LIFESPAN CORPORATION AND ITS AFFILIATES. (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH THE DEVELOPMENT AND ADMINISTRATION OF ITS PHILANTHROPIC ACTIVITIES, RHODE ISLAND HOSPITAL FOUNDATION (RIHF) IS ABLE TO TRANSFER FUNDS RAISED TO RHODE ISLAND HOSPITAL (RIH) TO SUPPORT ITS MISSION AND PURPOSES, WHICH IN TURN BENEFITS THE RHODE ISLAND COMMUNITY. MOST NOTABLY, RIHF PROVIDES PHILANTHROPIC SUPPORT TO VARIOUS PROGRAMS AT HASBRO CHILDREN'S HOSPITAL (HCH), THE PEDIATRIC DIVISION OF RIH. IN FISCAL YEAR 2023, THE FOUNDATION TRANSFERRED THE FOLLOWING TO VARIOUS HCH PROGRAMS AND CAPITAL PROJECTS: $1,705,204 FROM THE "EVERY CHILD, EVERY DAY CAMPAIGN", TO DATE A CAMPAIGN THAT HAS RAISED ALMOST $42.6 MILLION SINCE IT BEGAN SEVEN YEARS AGO TO MODERNIZE HCH AND GROW ESSENTIAL PROGRAMS AND RESEARCH ENDEAVORS VITAL TO CHILDREN AND THEIR FAMILIES. (CONTINUED IN SCHEDULE O)
DURING FISCAL YEAR 2023, RIHF MADE TRANSFERS OF $837,624 TO BE USED FOR THE GENERAL PURPOSES WITHIN THE AREA OF RIH ONCOLOGY CLINICAL RESEARCH. OTHER SIGNIFICANT PHILANTHROPIC TRANSFERS TO RIH WERE AS FOLLOWS: (1) $779,308 TO PROVIDE RESOURCES TO SUPPORT CRITICAL COMPONENTS NECESSARY TO CREATE AN ENVIRONMENT TO TREAT AND UNRAVEL MYSTERIES OF THE BRAIN AND NERVOUS SYSTEM; (2) $369,594 TO SUPPORT RENOVATIONS AND EXPANSION OF CANCER RESEARCH LAB SPACE AND CLASSROOMS ON CORO'S THIRD FLOOR; (3) $290,343 TO SUPPORT GENERAL NEUROSCIENCE RESEARCH AT RIH; AND (4) $233,124 TO SUPPORT TREATMENT OF THE POOR/INDIGENT.
RIHF REMITTED $468,331 OF ENDOWMENT EARNINGS TO THE WARREN ALPERT MEDICAL SCHOOL OF BROWN UNIVERSITY IN FISCAL YEAR 2023 IN SUPPORT OF SHARED CHAIRS IN CARDIOTHORACIC SURGERY, ORTHOPEDICS, UROLOGY, EMERGENCY MEDICINE, AND ONCOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Saul N Weingart MD PHD Pres. 7/23 | OfficerTrustee | 30 | $0 |
David A Kirshner Evp/cfo- 11/22 | Officer | 0 | $0 |
Phyllis A Dennery MD Trustee | Trustee | 20 | $0 |
G Dean Roye MD President | Officer | 1 | $0 |
Sheryl Amaral Trustee | Trustee | 2 | $0 |
Roger N Begin Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Graham-pelton Consulting Inc Consulting | 9/29/17 | $105,201 |
Childrens Miracle Network Prof. Fundraiser | 9/29/17 | $126,578 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,743,857 |
| Investment income | $968,978 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,764,138 |
| Net Income from Fundraising Events | -$67,001 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,409,972 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $131,230 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $19,338,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,999 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,464,037 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $191,132 |
| Investments—publicly traded securities | $44,367,667 |
| Investments—other securities | $19,270,929 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,894 |
| Total assets | $69,328,658 |
| Accounts payable and accrued expenses | $340,591 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Other liabilities | $20,738 |
| Total liabilities | $371,329 |
| Net assets without donor restrictions | $3,110,251 |
| Net assets with donor restrictions | $65,847,078 |
| 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 | $68,957,329 |
Grants Awarded
Over the last fiscal year, Rhode Island Hospital Foundation has awarded $11,170,179 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BROWN UNIVERSITY PURPOSE: See Form 990, Part III, Line 4c | $468,331 |
RHODE ISLAND HOSPITAL PURPOSE: See Form 990, Part III, Lines 4a-b | $10,701,848 |