Lifespan Corporation
- Assets
- $256.7m
- Revenue
- $281.1m
- Investments
- $0.0
- Employees
- 1,357
- Location
- Providence, RI
- Founding
- 04/1988
- Data as of
- 09/2021
- EIN
- 22-2861978
Organization Overview
Lifespan Corporation is located in Providence, RI. The organization was established in 1988. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Health Care and related organizations. As of 09/2021, Lifespan Corporation employed 1,357 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifespan Corporation 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, Lifespan Corporation generated $281.1m 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 $273.3m during the year ending 09/2021. While expenses have increased by 5.7% 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, Lifespan Corporation has awarded 61 individual grants totaling $1,055,395. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DELIVERING HEALTH WITH CARE WHILE MAINTAINING A COMPREHENSIVE, INTEGRATED, ACADEMIC HEALTH SYSTEM. LIFESPAN CORPORATION PROVIDES SUPPORT SERVICES TO ITS AFFILIATES TO ASSURE THE DELIVERY OF HIGH-QUALITY HEALTH SERVICES, MEDICAL EDUCATION, AND BIOMEDICAL RESEARCH.
Describe the Organization's Program Activity:
LIFESPAN CORPORATION (LIFESPAN) PLANS, DIRECTS, AND ESTABLISHES POLICIES TO ASSURE THE DEVELOPMENT AND DELIVERY OF COMPREHENSIVE, HIGH-QUALITY HEALTH SERVICES, HEALTH CARE PROFESSIONAL EDUCATION, AND BIOMEDICAL RESEARCH BY ITS HOSPITALS AND OTHER AFFILIATED ORGANIZATIONS ON AN INTEGRATED, COST-EFFECTIVE BASIS. LIFESPAN PROVIDES SUPPORT SERVICES TO ITS AFFILIATES, SUCH AS INFORMATION SERVICES, RISK MANAGEMENT, LEGAL, COMMUNICATIONS AND PUBLIC AFFAIRS, FUNDRAISING, FACILITY DEVELOPMENT, STRATEGIC PLANNING, INTERNAL AUDIT/COMPLIANCE, HUMAN RESOURCES, FINANCE, PAYOR CONTRACTING, AND INVESTMENT MANAGEMENT, FOR WHICH EACH AFFILIATE IS CHARGED A FEE EQUIVALENT TO THE ESTIMATED COSTS INCURRED BY LIFESPAN IN PROVIDING THESE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy J Babineau MD President & CEO | OfficerTrustee | 10 | $2,572,012 |
Mary A Wakefield Treas.- 6/21 | Officer | 12.5 | $1,107,285 |
Margaret Van Bree Mha Drph Pres.-Rih- 12/19 | 0 | $1,059,267 | |
John B Murphy MD Evp-Phys. Affairs | 2 | $1,032,421 | |
Cedric J Priebe Svp- Chief Information Officer | 40 | $770,112 | |
Cathy E Duquette Evp-Quality/safety | 40 | $754,616 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Epic Systems Corp It Clinical Infrastr | 9/29/21 | $4,750,032 |
Alvarez & Marsal Healthcare Group Llc Consulting | 9/29/21 | $1,906,105 |
Secureworks Inc Info Security Svcs. | 9/29/21 | $3,011,075 |
Kpmg Llp Accounting | 9/29/21 | $943,350 |
Automatic Data Processing Inc Payroll Services | 9/29/21 | $1,429,453 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $279,299,863 |
| Investment income | $1,777,525 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $281,124,527 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $245,473 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,072,906 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,352,813 |
| Pension plan accruals and contributions | $7,698,912 |
| Other employee benefits | $12,508,592 |
| Payroll taxes | $7,115,246 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,041,734 |
| Fees for services: Accounting | $674,850 |
| Fees for services: Lobbying | $608,196 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $397,131 |
| Fees for services: Other | $24,958,021 |
| Advertising and promotion | $2,177,420 |
| Office expenses | $6,790,352 |
| Information technology | $31,524,337 |
| Royalties | $0 |
| Occupancy | $13,245,133 |
| Travel | $525,323 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $542,150 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $45,983,849 |
| All other expenses | $605,410 |
| Total functional expenses | $273,271,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,760,861 |
| Savings and temporary cash investments | $58,905,214 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,727,230 |
| 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 | $16,528,396 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $63,538,750 |
| Other assets | $97,195,086 |
| Total assets | $256,655,537 |
| Accounts payable and accrued expenses | $112,382,024 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $107,570,162 |
| Total liabilities | $219,952,186 |
| Net assets without donor restrictions | $36,703,351 |
| Net assets with donor restrictions | $0 |
| 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 | $256,655,537 |
Grants Awarded
Over the last fiscal year, Lifespan Corporation has awarded $170,795 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: Community Health Prog Sponsor | $130,000 |
Dallas, TX PURPOSE: Support Cardiovascular Health | $25,795 |
Kennesaw, GA PURPOSE: Event Sponsor | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lifespan Corporation has recieved totaling $249,300.
| Awarding Organization | Amount |
|---|---|
Golf Fights Cancer Inc Norton, MA PURPOSE: RICHARD BROWNING RESEARCH FUND | $120,000 |
Golf Fights Cancer Inc Norton, MA PURPOSE: INPATIENT PEDIATRIC ONCOLOGY RENOVATIONS PROJECT AT HASBRO CHILDREN'S | $100,000 |
Joy In Childhood Foundation Inc Canton, MA PURPOSE: Support Sick and Hungry Kids | $29,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lifespan Corporation Providence, RI | $256,655,537 | $281,124,527 |
Massachusetts League Of Community Health Centers Inc Boston, MA | $29,437,679 | $42,298,063 |
Sisters Of Providence Health System Inc Holyoke, MA | $0 | $32,166,513 |
Tufts Medicine Inc Burlington, MA | $334,551,155 | $530,151 |
New England Donor Services Inc Waltham, MA | $48,652,397 | $15,155,479 |
Alliance Health Management Services Llc Southborough, MA | $2,006,491 | $4,982,711 |
Center For Medical Simulation Inc Charlestown, MA | $2,307,441 | $2,761,057 |
Metropolitan Boston Emergency Medical Services Council Inc Burlington, MA | $3,181,684 | $1,030,015 |
Dana-Farber Childrens Hospital Cancer Care Inc Boston, MA | $0 | $0 |
Hebrew Health Care Inc West Hartford, CT | $170,613 | $995,548 |
Northeast Emergency Medical Services Inc Amesbury, MA | $411,673 | $441,713 |
Western Mass Emergency Medical Services Committee Inc Northampton, MA | $502,460 | $265,672 |