Rhode Island Hospital Foundation
- Assets
- $69.3m
- Revenue
- $16.4m
- Investments
- $19.3m
- Employees
- 0
- Location
- Providence, RI
- Founding
- 05/1994
- Data as of
- 09/2021
- EIN
- 05-0468736
Organization Overview
Rhode Island Hospital Foundation is located in Providence, RI. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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. Rhode Island Hospital Foundation 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, Rhode Island Hospital Foundation generated $16.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $19.3m during the year ending 09/2021. While expenses have increased by 13.0% 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, Rhode Island Hospital Foundation has awarded 14 individual grants totaling $71,959,643. 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
TO BE OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES, AND MORE SPECIFICALLY, FOR THE PURPOSE OF SUPPORTING AND OTHERWISE BENEFITING AND BEING RESPONSIVE TO THE NEEDS OF LIFESPAN CORPORATION AND ITS AFFILIATES. (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH THE DEVELOPMENT AND ADMINISTRATION OF ITS PHILANTHROPIC ACTIVITIES, RHODE ISLAND HOSPITAL FOUNDATION (RIHF) IS ABLE TO TRANSFER FUNDS RAISED TO RHODE ISLAND HOSPITAL (RIH) TO SUPPORT ITS MISSION AND PURPOSES, WHICH IN TURN BENEFITS THE RHODE ISLAND COMMUNITY. MOST NOTABLY, RIHF PROVIDES PHILANTHROPIC SUPPORT TO VARIOUS PROGRAMS AT HASBRO CHILDREN'S HOSPITAL (HCH), THE PEDIATRIC DIVISION OF RIH. IN FISCAL YEAR 2021, THE FOUNDATION TRANSFERRED THE FOLLOWING TO VARIOUS HCH PROGRAMS AND CAPITAL PROJECTS: $8,757,030 FROM THE "EVERY CHILD, EVERY DAY CAMPAIGN", TO DATE A CAMPAIGN THAT HAS RAISED ALMOST $38.8 MILLION SINCE IT BEGAN FIVE YEARS AGO TO MODERNIZE HCH AND GROW ESSENTIAL PROGRAMS AND RESEARCH ENDEAVORS VITAL TO CHILDREN AND THEIR FAMILIES. (CONTINUED IN SCHEDULE O)
DURING FISCAL YEAR 2021, RIHF MADE TRANSFERS OF $804,668 TO SUPPORT RESEARCH RELATED TO THE INVESTIGATION OF THE ROLE OF EPIGENETICS IN ADULT MALIGNANT GLIOMA AT RIH. OTHER SIGNIFICANT PHILANTHROPIC TRANSFERS TO RIH WERE AS FOLLOWS: (1) $715,399 TO PROVIDE RESOURCES TO SUPPORT CRITICAL COMPONENTS NECESSARY TO CREATE AN ENVIRONMENT TO TREAT AND UNRAVEL MYSTERIES OF THE BRAIN AND NERVOUS SYSTEM; (2) $402,881 SUPPORT GENERAL NEUROSCIENCE RESEARCH AT RIH; (3) $400,000 TO SUPPORT THE CREATION OF AN ADVANCED PRACTICE PROVIDER FELLOWSHIP IN NEUROSCIENCES AT RIH; (4) $250,000 TO SUPPORT THE RESEARCH ACTIVITIES OF THE LIVER RESEARCH CENTER AT RIH; AND (5)$216,943 TO SUPPORT TREATMENT OF THE POOR/INDIGENT.
RIHF REMITTED $431,029 OF ENDOWMENT EARNINGS TO THE WARREN ALPERT MEDICAL SCHOOL OF BROWN UNIVERSITY IN FISCAL YEAR 2021 IN SUPPORT OF SHARED CHAIRS IN CARDIOTHORACIC SURGERY, ORTHOPEDICS, UROLOGY, EMERGENCY MEDICINE, AND ONCOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Saul N Weingart MD PHD President | OfficerTrustee | 20 | $0 |
John B Murphy MD Pres.- 12/20 | OfficerTrustee | 0.5 | $0 |
Ellen Collis Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth Huber Vice Chair | OfficerTrustee | 0.5 | $0 |
Anthony Calandrelli Secretary | OfficerTrustee | 4 | $0 |
Robert K Vincent Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Childrens Miracle Network Prof. Fundraiser | 9/29/17 | $126,578 |
Graham-pelton Consulting Inc Consulting | 9/29/17 | $105,201 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,663,972 |
| Related organizations | $65,000 |
| Government grants | $180,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,834,885 |
| Noncash contributions included in lines 1a–1f | $125,107 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,743,857 |
| Total Program Service Revenue | $0 |
| Investment income | $968,978 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,764,138 |
| Net Income from Fundraising Events | -$67,001 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,409,972 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,347,979 |
| 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 | $131,230 |
| Fees for services: Investment Management | $0 |
| 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 | $19,338,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,999 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,464,037 |
| 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 | $191,132 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $44,367,667 |
| Investments—other securities | $19,270,929 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,894 |
| Total assets | $69,328,658 |
| Accounts payable and accrued expenses | $340,591 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| 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 | $20,738 |
| Total liabilities | $371,329 |
| Net assets without donor restrictions | $3,110,251 |
| Net assets with donor restrictions | $65,847,078 |
| 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 | $69,328,658 |
Grants Awarded
Over the last fiscal year, Rhode Island Hospital Foundation has awarded $16,344,979 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: See Form 990, Part III, Lines 4a-b | $15,913,950 |
Providence, RI PURPOSE: See Form 990, Part III, Line 4c | $431,029 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Rhode Island Hospital Foundation has recieved totaling $626,197.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: SINCLAIR DENTAL CENTER; GENERAL SUPPORT; GENERAL OPERATING; SAMUELS SINCLAIR DENTAL CENTER; HASBRO FUND; FUND FOR EXCELLENCE; HASBRO CHILDREN'S HOSPITAL; RICHARD BROWNING CANCER RESEARCH FUND; PROGRAM SUPPORT | $348,396 |
R I H Orthopaedic Foundation Inc Providence, RI PURPOSE: RESEARCH SUPPORT | $100,000 |
Boston Bruins Charitable Foundation Inc Boston, MA PURPOSE: COMMUNITY SUPPORT | $50,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: SPECIAL PROJECT | $45,000 |
Columbus Foundation Columbus, OH PURPOSE: HEALTH | $25,000 |
United Way Of Rhode Island Inc Providence, RI PURPOSE: DESIGNATED DONATION/GRANT | $12,700 |
Endowment Analysis
| Beg. Balance | $55,004,115 |
| Earnings | $12,681,147 |
| Admin Expense | $7,875 |
| Net Contributions | $15,468,598 |
| Other Expense | $3,162,410 |
| Grants | $16,344,979 |
| Ending Balance | $63,638,596 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Hospital Radiology Foundation Inc Boston, MA | $61,711,142 | $41,980,369 |
Health & Welfare Fund Of Intern Tional Union Of Operating Engi Quincy, MA | $26,422,414 | $20,857,874 |
Rhode Island Hospital Foundation Providence, RI | $69,328,658 | $16,409,972 |
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
International Union Operating Engineers Johnston, RI | $24,623,216 | $15,388,250 |
Danbury Hospital & New Milford Hospital Foundation Inc Danbury, CT | $175,854,316 | $24,324,982 |
Connecticut Childrens Foundation Inc Hartford, CT | $208,742,176 | $23,151,101 |
Commonwealth Of Massachusetts Nage Health And Welfare Trust Fund Quincy, MA | $20,484,486 | $12,264,688 |
Vna Care Network Inc Worcester, MA | $53,895,058 | $9,740,895 |
Integrinurse Inc Pittsfield, MA | $570,096 | $8,159,741 |
Baystate Health Foundation Inc Springfield, MA | $162,504,462 | $11,066,135 |
Bridgeport Hospital Foundation Inc Bridgeport, CT | $101,482,043 | $9,027,392 |