Newport Hospital Foundation Inc
- Assets
- $132.3m
- Revenue
- $13.9m
- Investments
- $48.5m
- Employees
- 0
- Location
- Newport, RI
- Founding
- 05/1985
- Data as of
- 09/2021
- EIN
- 22-2535533
Organization Overview
Newport Hospital Foundation Inc is located in Newport, RI. The organization was established in 1985. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, 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. Newport Hospital Foundation Inc 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, Newport Hospital Foundation Inc generated $13.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $10.8m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Newport Hospital Foundation Inc has awarded 20 individual grants totaling $99,222,354. 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
NEWPORT HOSPITAL FOUNDATION (NHF) COORDINATES FUNDRAISING IN SUPPORT OF COMPREHENSIVE INTEGRATED HEALTH CARE SERVICES FOR THE ADVANCEMENT AND WELL-BEING OF THE SOUTHERN RHODE ISLAND COMMUNITY, IN FURTHERANCE OF THE PURPOSES OF NEWPORT HOSPITAL(NH).
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FISCAL YEAR 2021, NHF TRANSFERRED $8,101,900 FROM ITS UNRESTRICTED NET ASSETS TO NHCC MEDICAL ASSOCIATES, INC. IN SUPPORT OF ITS OPERATING ACTIVITIES.
THROUGH THE DEVELOPMENT AND ADMINISTRATION OF ITS PHILANTHROPIC ACTIVITIES, IN FISCAL YEAR 2021 NHF TRANSFERRED FUNDS RAISED IN THE AGGREGATE AMOUNT OF $1,265,193 TO NH TO SUPPORT ITS CAPITAL EXPENDITURES AND OPERATIONS, WHICH IN TURN BENEFITS THE SOUTHERN RHODE ISLAND COMMUNITY. MOST SIGNIFICANTLY, $884,084 WAS TRANSFERRED TO NH FROM "BEYOND THE BUILDING-THE CAMPAIGN FOR NEWPORT HOSPITAL", A $13,700,000 FUNDRAISING CAMPAIGN TO FURTHER THE EXPANSION AND TRANSFORMATION OF NH'S EMERGENCY DEPARTMENT. OTHER NOTABLE OPERATING ACTIVITIES OF NH SUPPORTED BY NHF INCLUDE: (1) NH'S EMERGENCY PREPAREDNESS FUND IN SUPPORT OF COVID-19 PATIENT CARE ($77,416);(2) THE BEHAVIORAL HEALTH FUND ($55,000); AND (3)CHARITY CARE ($53,731).
IN FISCAL YEAR 2021, NHF PROVIDED NEWPORT COMMUNTY SCHOOL $35,000 TO ASSIST IN FUNDING COMMUNITY GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crista F Durand President | OfficerTrustee | 5 | $0 |
Norey D Cullen Chairperson | OfficerTrustee | 4 | $0 |
Edward D Feldstein ESQ V.chair- 12/20 | OfficerTrustee | 1.5 | $0 |
David S Gordon Secty.- 12/20 | OfficerTrustee | 0 | $0 |
Rita B Gewirz Vice Chair | OfficerTrustee | 1 | $0 |
Juliette C Mclennan Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $590,291 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,491,497 |
| Noncash contributions included in lines 1a–1f | $87,131 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,081,788 |
| Total Program Service Revenue | $0 |
| Investment income | $2,420,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,256,071 |
| Net Income from Fundraising Events | $119,631 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,877,816 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,402,093 |
| 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 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 | $0 |
| Fees for services: Investment Management | $499,804 |
| 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 | $10,789,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $186,615 |
| Pledges and grants receivable | $1,584,414 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $58,640,975 |
| Investments—other securities | $48,456,304 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,417,387 |
| Total assets | $132,285,695 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $45,564 |
| 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 | $92,099 |
| Total liabilities | $137,663 |
| Net assets without donor restrictions | $129,927,520 |
| Net assets with donor restrictions | $2,220,512 |
| 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 | $132,285,695 |
Grants Awarded
Over the last fiscal year, Newport Hospital Foundation Inc has awarded $9,402,093 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Newport, RI PURPOSE: Operational support | $8,101,900 |
Newport, RI PURPOSE: Operational/Capital Support | $1,265,193 |
Newport, RI PURPOSE: Community Healthcare Services | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 21 grants that Newport Hospital Foundation Inc has recieved totaling $775,764.
| Awarding Organization | Amount |
|---|---|
Alletta Morris Mcbean Charitable Trust La Quinta, CA PURPOSE: DIAGNOSTIC AND MEDICAL IMAGING IMPROVEMENT | $250,000 |
Thomas A Rodgers Jr Family Foundation Newport, RI PURPOSE: EMERGENCY ROOM CAPITAL CAMPAIGN | $100,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: MEDICAL / PUBLIC SERVICES | $76,500 |
The Rhode Island Community Foundation Providence, RI PURPOSE: GENERAL SUPPORT; VANDERBILT INPATIENT CENTER; PURCHASE OF DIAGNOSTIC IMAGING EQUIPMENT; PROGRAM SUPPORT; UNRESTRICTED; LIFESPAN CANCER INSTITUTE AT NEWPORT HOSPITAL | $61,500 |
Van Beuren Charitable Foundation Inc New York, NY PURPOSE: OPERATING- GENERAL, IMAGING EQUIPMENT, CAMPAIGN AND ANNUAL FUND | $55,000 |
Gruben Charitable Foundation Newport, RI PURPOSE: UNRESTRICTED | $35,000 |
Endowment Analysis
| Beg. Balance | $111,037,641 |
| Earnings | $24,638,421 |
| Net Contributions | $2,705,697 |
| Other Expense | $1,265,193 |
| Grants | $7,601,900 |
| Ending Balance | $129,514,666 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chmc Surgical Foundation Inc Boston, MA | $73,400,034 | $31,940,359 |
Newport Hospital Foundation Inc Newport, RI | $132,285,695 | $13,877,816 |
Tufts Health Plan Foundation Inc Canton, MA | $128,427,090 | $19,685,263 |
Valley Health Systems Inc Holyoke, MA | $11,549,744 | $5,011,526 |
Health Foundation Of Central Massachusetts Inc Worcester, MA | $98,619,002 | $8,039,753 |
Rett Syndrome Research Trust Inc Trumbull, CT | $13,582,017 | $8,124,811 |
Brown Physicians Inc Providence, RI | $21,867,616 | $10,008,475 |
Tufts Medicine Care At Home Parent Lawrence, MA | $114,575,797 | $16,042,390 |
Capital Link Inc Boston, MA | $2,622,518 | $3,653,939 |
Izumi Foundation Boston, MA | $73,391,812 | $2,773,250 |
The Masonic Charity Foundation Of Connecticut Inc Wallingford, CT | $163,170,815 | $11,602,888 |
Yale-New Haven Medical Center Inc New Haven, CT | $7,911,835 | $2,282,288 |