Memorial Hospital

Organization Overview

Memorial Hospital, operating under the name Memorial Hospital Of Rhode Island, is located in Providence, RI. The organization was established in 1932. 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, Memorial Hospital Of Rhode Island employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Hospital Of Rhode Island 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, Memorial Hospital Of Rhode Island generated $8.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (36.2%) each year. All expenses for the organization totaled $4.0m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (46.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

UNTIL THE ORGANIZATION'S CLOSURE, OUR MISSION WAS PRIMARY CARE AND PREVENTATIVE MEDICINE, PROVIDING ADVANCED DIAGNOSIS AND TREATMENT WITH A FOCUS ON TEACHING AND RESEARCH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION CEASED ALL OPERATIONS AS OF JANUARY 1, 2018, AND WAS COMMITTED IN PROVIDING VARIOUS MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Arup
Laboratory
$549,867
Francis R Dietz
Consulting
$544,425
Apb Security
Security
$389,820
Sodexo Inc Affiliates
Dietary/management
$391,497
Brown University
Physicians
$542,603
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $16,567
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$16,567
Total Program Service Revenue$4,177,008
Investment income $1,172,935
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,183,822
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,550,332

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Memorial Hospital has recieved totaling $30,841.

Awarding OrganizationAmount
Northwestern University

Evanston, IL

PURPOSE: Support of research activities

$30,841
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$11,816,916
Earnings$1,491,663
Other Expense$892,338
Ending Balance$12,416,241

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