Lifespan Foundation

Organization Overview

Lifespan Foundation is located in Providence, RI. The organization was established in 1998. According to its NTEE Classification (E20) the organization is classified as: Hospitals, 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. Lifespan 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 09/2023, Lifespan Foundation generated $694.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.5% each year . All expenses for the organization totaled $3.3m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Lifespan Foundation has awarded 27 individual grants totaling $7,285,430. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THROUGH THE DEVELOPMENT AND ADMINISTRATION OF PHILANTHROPIC ACTIVITIES, LIFESPAN FOUNDATION (THE FOUNDATION) IS ABLE TO MAKE GRANTS THAT HELP SUPPORT THE MISSION AND PURPOSES OF LIFESPAN, ITS AFFILIATES, AND THE RHODE ISLAND COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN FISCAL YEAR 2023, THE FOUNDATION TRANSFERRED $2,500,000 TO RHODE ISLAND HOSPITAL (RIH), TO PROVIDE INCREASED OPPORTUNITIES FOR BLACK, INDIGENOUS, AND PEOPLE OF COLOR (BIPOC) TO HAVE GREATER ACCESS TO EMPLOYMENT, JOB TRAINING, HEALTHCARE PROFESSIONAL CERTIFICATION, ADVANCED EDUCATION, AND LEADERSHIP DEVELOPMENT.


IN FISCAL YEAR 2023, THE FOUNDATION TRANSFERRED $573,777 TO RIH TO BE USED FOR CANCER SUPPORT, AND WELL AS SUPPORT VARIOUS PATIENT CARE ENHANCEMENT PROJECTS AND RESEARCH IN THE LIFESPAN CANCER INSTITUTE.


THE FOUNDATION AND BROWN HAVE AN AGREEMENT PURSUANT TO WHICH EACH ENTITY MAINTAINS AN ENDOWMENT FUND REPRESENTING 50% OF AN ENDOWMENT GIFT, THE INCOME FROM WHICH SUPPORTS A DIAGNOSTIC IMAGING SHARED CHAIR. THE AGREEMENT SPECIFIES A SPENDING RATE WHICH IS APPLIED TO THE TRAILING THREE-YEAR AVERAGE FAIR VALUE OF THE ENDOWMENT FUND TO ARRIVE AT AN AMOUNT USED TO SUPPORT THE NAMED PROFESSORSHIP. PAYMENTS DISTRIBUTING THIS AMOUNT, WHICH ARE MADE BY THE FOUNDATION TO BROWN ON A QUARTERLY BASIS, TOTALED $89,506 IN FISCAL YEAR 2023.


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Board, Officers & Key Employees

Name (title)Compensation
Timothy J Babineau
Fmr. Trustee
$0
Cathy E Duquette
Fmr. Trustee
$0
Paul J Adler
Secretary
$0
David A Kirshner
Treas.- 11/22
$0
Nicholas J Dominck Jr
President
$0
Arthur J Sampson
Trustee- 1/23
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$4,230
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$473,776
Noncash contributions included in lines 1a–1f $684
Total Revenue from Contributions, Gifts, Grants & Similar$478,006
Total Program Service Revenue$0
Investment income $132,446
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $80,346
Net Income from Fundraising Events $3,532
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $694,330

Grants Awarded

Over the last fiscal year, Lifespan Foundation has awarded $3,251,955 in support to 2 organizations.

Grant RecipientAmount

RHODE ISLAND HOSPITAL

PURPOSE: See Form 990, Part III, Lines 4a/b

$3,162,449

BROWN UNIVERSITY

PURPOSE: Shared Chair

$89,506
View Grant Profile

Peer Organizations

Organization NameAssets
Brown Urology Inc
Providence, RI
$18,271,706
Tufts Veterinary Emergency Treatment And Specialties Inc
North Grafton, MA
$17,451,740
Planetree International Inc
Derby, CT
$3,464,231
Lifespan Foundation
Providence, RI
$694,330
Melrosewakefield Healthcare Parent Corporation
Medford, MA
$2,133,974
Heywood Realty Corporation
Gardner, MA
$1,773,220
Hebrew Community Services Inc
West Hartford, CT
$976,837
United Nurses & Allied Professional
Providence, RI
$1,330,003
Vhl Alliance Inc
Boston, MA
$1,537,754
Codman Square Health And Education Center Inc
Dorchester, MA
$449
Institute For Community Research Inc
Hartford, CT
$511,185
Massachusetts Society Of Hospital Pharmacists
Westford, MA
$245,359
United Nurses & Allied Professional
Providence, RI
$235,859
Vascular Laboratory Inc
Cambridge, MA
$3,109
United Nurses And Allied Professionals
Westerly, RI
$0
Friends Of Little Compton Wellness Center Inc
Little Compton, RI
$171,385
Hahnemann Hospital
Boston, MA
$97,722
Maryland Society Of Hospital Pharmacists Incorporated
Westford, MA
$0
Women & Infants Hospital Staff Assoc
Providence, RI
$0
Laura Eldridge Hospital Association
Wilton, CT
$47,679
Massachusetts Maternity & Foundling Hospital Corp
Brookline, MA
$0
Bawa Health Initiative Inc
Walligford, CT
$0
United Nurses & Allied Professional
Providence, RI
$0
Martha S Vineyard Vegan Society Inc
Edgartown, MA
$0
Berkshire Health Systems Inc
Pittsfield, MA
$12,710

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