Rih Ventures
- Assets
- $3.8m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 08/1991
- Data as of
- 09/2021
- EIN
- 05-0448686
Organization Overview
Rih Ventures is located in Providence, RI. The organization was established in 1991. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., 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. Rih Ventures 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, Rih Ventures generated $7.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $7.9m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 6 years. 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
RIH VENTURES (RIHV) PROVIDES PHLEBOTOMY SERVICES WHICH FACILITATE LABORATORY SPECIMEN TESTING FOR RHODE ISLAND HOSPITAL (RIH) AND OTHER LIFESPAN-AFFILIATED HOSPITALS, AND ALSO OPERATES PARKING FACILITIES THAT SERVE PATIENTS, VISITORS, AND STAFF OF RIH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PHLEBOTOMY SERVICES PERFORMED BY RIHV PROVIDE A CONVENIENT MEANS BY WHICH INDIVIDUALS MAY PRESENT THEMSELVES TO HAVE A BLOOD SAMPLE DRAWN FOR FURTHER DIAGNOSTIC TESTING BY LIFESPAN AFFILIATES. LABORATORY SERVICES ARE AVAILABLE AT LOCATIONS THROUGHOUT RHODE ISLAND AND SOUTHEASTERN MASSACHUSETTS, EACH OFFERING A COMPLETE RANGE OF THE MOST ADVANCED LABORATORY TESTS. BECAUSE APPOINTMENTS ARE NOT NEEDED AT LIFESPAN LABORATORIES, LOCATION AND TIME ARE ALWAYS AT THE CONVENIENCE OF THE PATIENT. ALL LABORATORIES ARE LINKED TO LIFESPAN HOSPITALS AND OFFER THE ADDED CONVENIENCE OF THE MOST ADVANCED PATIENT DATA MANAGEMENT SYSTEM IN THE AREA.
RIHV PROVIDES SAFE, SECURE, AND CONVENIENTLY LOCATED PARKING FACILITIES TO RIH'S PATIENTS, VISITORS, AND STAFF. THE 60-ACRE RIH CAMPUS ACCOMMODATES MORE THAN 10,000 VEHICLES EVERY DAY, PROVIDING EXPEDIENT ACCESS TO ALL BUILDINGS. ALL PATIENTS DISCHARGED ARE PROVIDED WITH ONE FREE EXIT FROM THE PARKING LOTS. FREE PARKING IS PROVIDED TO BOTH EMERGENCY DEPARTMENT PATIENTS AND PATIENTS WHO RECEIVE MEDICAL TREATMENT COVERED BY RITE CARE AND MEDICAID. IN ADDITION, VALET PARKING AND SHUTTLE SERVICE ARE AVAILABLE TO QUALIFYING PATIENTS WITHOUT CHARGE IN DESIGNATED AREAS OF THE RIH CAMPUS. THE PARKING PROGRAM OF RIH VENTURES SUPPORTS RIH'S MISSION BY PROVIDING PRACTICAL ACCESS TO HEALTH SERVICES FOR PEOPLE IN THE COMMUNITY, AS WELL AS SIMPLIFYING THE MEANS OF ENTRY TO VARIOUS RIH FACILITIES FOR RESIDENTS, INTERNS, FELLOWS, AND RESEARCHERS WHO TRAIN ON THE RIH CAMPUS. (SEE SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul J Adler Secretary | OfficerTrustee | 0.25 | $0 |
Nicholas P Dominick President | OfficerTrustee | 0.1 | $0 |
Mary A Wakefield Treasurer- 6/20 | Officer | 0.25 | $0 |
David A Kirshner Treasurer | Officer | 0.1 | $0 |
Timothy J Babineau MD Trustee | Trustee | 0.25 | $0 |
Cathy E Duquettephd MBA RN Trustee | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Parking Inc Parking/shuttle Svc | 9/29/16 | $189,916 |
Vpne Parking Solutions Parking/shuttle Svc | 9/29/16 | $491,085 |
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 | $7,070,752 |
| Investment income | $0 |
| 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 | $7,923,019 |
| 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. | $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 | $4,884,440 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $624,061 |
| Advertising and promotion | $0 |
| Office expenses | $105,667 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,521,475 |
| 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 | $443,828 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,923,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127 |
| Savings and temporary cash investments | $873 |
| Pledges and grants receivable | $0 |
| 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 | $3,747,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,566 |
| Total assets | $3,760,702 |
| Accounts payable and accrued expenses | $308,527 |
| 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 | $0 |
| Total liabilities | $308,527 |
| Net assets without donor restrictions | $3,452,175 |
| 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 | $3,760,702 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rih Ventures Providence, RI | $3,760,702 | $7,923,019 |
Integrated Healthcare Partners Wakefield, RI | $8,567,853 | $7,480,076 |
Integriscript Inc Pittsfield, MA | $2,455,296 | $4,528,618 |
Hallmark Health Properties Inc Medford, MA | $18,752,595 | $1,945,268 |
Community Econsult Network Inc Middletown, CT | $1,366,083 | $1,308,475 |
Foundation For Community Health Inc Sharon, CT | $30,623,690 | $1,365,078 |
The Center To Advance Consumer Partnership Inc Boston, MA | $1,052,945 | $288,908 |
Lchc Support Corporation Lowell, MA | $23,341,192 | $1,161,700 |
Vna Management Corporation Bridgeport, CT | $0 | $1,003,534 |
Allston Brighton Jms Corporation Brighton, MA | $20,329,412 | $332,978 |
Connecticut Alliance For Long Term Care Inc Hartford, CT | $321,874 | $93,579 |
A C N M Foundation Inc Cambridge, MA | $1,589,561 | $575,795 |