Newport Hospital
- Assets
- $361.0m
- Revenue
- $147.7m
- Investments
- $34.6m
- Employees
- 1,048
- Location
- Newport, RI
- Founding
- 03/1937
- Data as of
- 09/2021
- EIN
- 05-0258914
Organization Overview
Newport Hospital is located in Newport, RI. The organization was established in 1937. 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, Newport Hospital employed 1,048 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newport 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, Newport Hospital generated $147.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $129.9m during the year ending 09/2021. While expenses have increased by 2.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AS A MEMBER HOSPITAL IN THE LIFESPAN HEALTH SYSTEM, NEWPORT HOSPITAL (NH) IS COMMITTED TO ITS MISSION: DELIVERING HEALTH WITH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021, NH REPORTED 29,847 INPATIENT DAYS, 5,031 DISCHARGES, 428 NEWBORN DELIVERIES, AND 999 INPATIENT SURGERIES. NH PROVIDES A RANGE OF DIAGNOSTIC THERAPEUTIC HEALTHCARE SERVICES INCLUDING: BEHAVIORAL MEDICINE, CARDIAC SERVICES, OBSTETRICS, ORTHOPEDICS, PULMONARY MEDICINE, AND CANCER CARE. (SEE ALSO SCHEDULE O, PART III, LINE 4A)
NH PROVIDES CERTAIN HEALTHCARE SERVICES ON AN OUTPATIENT BASIS. IN FISCAL YEAR 2021, NH EXPERIENCED OUTPATIENT VOLUME OF 43,955 EQUIVALENT OUTPATIENT DAYS AND PERFORMED 4,619 OUTPATIENT SURGERIES. OUTPATIENT SERVICES ARE ALSO PROVIDED IN NH'S EMERGENCY DEPARTMENT, WHICH HAD 26,507 PATIENT VISITS IN FISCAL YEAR 2021.(SEE ALSO SCHEDULE O, PART III, LINE 4B)
THE NOREEN STONOR DREXEL BIRTHING CENTER (THE CENTER) AT NH DELIVERED 428 NEWBORNS DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021. THE CENTER IS A SEPARATE UNIT AT NH FOR LABOR AND DELIVERY, ENABLING PATIENTS TO REMAIN IN THE SAME LOCATION FOR LABOR, DELIVERY, RECOVERY, AND POSTPARTUM CARE. THE CENTER'S STAFF INCLUDES BOARD-CERTIFIED OBSTETRICIANS, PEDIATRICIANS, FAMILY PRACTITIONERS, ANESTHESIOLOGISTS, A CERTIFIED NURSE MIDWIFE, AND REGISTERED NURSES WHO HAVE RECEIVED NATIONAL CERTIFICATIONS IN OBSTETRICAL NURSING. THE CENTER AT NH HAS RECEIVED THE "BABY FRIENDLY" DESIGNATION FROM THE WORLD HEALTH ORGANIZATION AND UNICEF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael D Mason Med.dir.-Joint Ctr | 40 | $676,941 | |
Jeffrey T Gaines MD Chief Medical Officer | 40 | $449,250 | |
Orla M Brandos Chief Nursing Officer | 40 | $316,753 | |
Perry J Wein Director-Op. Room | 40 | $168,786 | |
Christopher Monteiro Dir. Of Radiology | 40 | $163,275 | |
Paul W Parchesky Pharmacy Mgr. | 40 | $146,576 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Svcs Security Services | 9/29/21 | $1,332,303 |
Brown Surgical Associates Medical Services | 9/29/21 | $739,372 |
Aquidneck Radiologists Inc Medical Services | 9/29/21 | $300,000 |
Amn Healthcare Inc Healthcare Staffing | 9/29/21 | $491,846 |
Quest Diagnostics Diagnostics Svcs. | 9/29/21 | $296,457 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,265,193 |
| Government grants | $7,722,639 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,951 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,007,783 |
| Total Program Service Revenue | $129,049,435 |
| Investment income | $2,324,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,174,036 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $147,656,506 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $873,260 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,846,457 |
| Pension plan accruals and contributions | $4,482,575 |
| Other employee benefits | $6,950,317 |
| Payroll taxes | $3,452,998 |
| 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 | $520,323 |
| Fees for services: Other | $6,291,979 |
| Advertising and promotion | $146,849 |
| Office expenses | $47,376 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,853,704 |
| Travel | $1,347 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $369,888 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,429,117 |
| Insurance | $3,013,126 |
| All other expenses | $852,962 |
| Total functional expenses | $129,859,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,453,549 |
| Savings and temporary cash investments | $29,585,404 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,954,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,116,669 |
| Prepaid expenses and deferred charges | $488,303 |
| Net Land, buildings, and equipment | $64,804,334 |
| Investments—publicly traded securities | $77,250,574 |
| Investments—other securities | $34,558,042 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $137,816,246 |
| Total assets | $361,028,051 |
| Accounts payable and accrued expenses | $12,454,002 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,830,723 |
| 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 | $27,645,204 |
| Total liabilities | $51,929,929 |
| Net assets without donor restrictions | $209,312,704 |
| Net assets with donor restrictions | $99,785,418 |
| 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 | $361,028,051 |
Grants Awarded
Over the last fiscal year, Newport Hospital has awarded $37,297 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: Philanthropic Program Services | $31,822 |
Boston, MA PURPOSE: Philanthropic Support | $5,475 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Newport Hospital has recieved totaling $73,000.
| Awarding Organization | Amount |
|---|---|
Loebs Family Foundation Boston, MA PURPOSE: UNRESTRICTED FOR GENERAL | $50,000 |
Charles Sumner Bird Foundation Pittsburgh, PA PURPOSE: GENERAL OPERATING | $22,000 |
Larry And Anne Glenn Foundation Inc Newport, RI PURPOSE: GENERAL OPERATING | $1,000 |
Endowment Analysis
| Beg. Balance | $97,690,543 |
| Earnings | $20,903,376 |
| Net Contributions | $9,046,895 |
| Other Expense | $11,353,540 |
| Ending Balance | $116,287,274 |
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 |