Care New England Health System
- Assets
- $77.1m
- Revenue
- $172.0m
- Investments
- $0.0
- Employees
- 842
- Location
- Providence, RI
- Founding
- 07/1997
- Data as of
- 09/2021
- EIN
- 05-0490997
Organization Overview
Care New England Health System is located in Providence, RI. The organization was established in 1997. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2021, Care New England Health System employed 842 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Care New England Health System 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, Care New England Health System generated $172.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $177.8m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Care New England Health System has awarded 28 individual grants totaling $2,509,748. 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
THE ORGANIZATION IS DEVOTED TO CONTINUALLY IMPROVING THE HEALTH AND WELL-BEING OF THE PEOPLE AND COMMUNITIES THEY SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARE NEW ENGLAND HEALTH SYSTEM IS THE HOLDING COMPANY OF A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM WHICH CONSISTS OF BUTLER HOSPITAL, KENT COUNTY MEMORIAL HOSPITAL, WOMEN AND INFANTS HOSPITAL OF RHODE ISLAND, THE MEMORIAL HOSPITAL, WOMEN AND INFANTS CORPORATION, KENT COUNTY VISITING NURSE ASSOCIATION D/B/A VNA OF CARE NEW ENGLAND, AND THEIR SUBSIDIARIES AND AFFILIATES. CARE NEW ENGLAND HEALTH SYSTEM PROVIDES MANAGEMENT SERVICES WHICH INCLUDES STRATEGIC PLANNING, INVESTMENT MANAGEMENT, CAPITAL FINANCING FOR THE GROUP, LEGAL, PURCHASING, INFORMATION TECHNOLOGY, REVENUE CYCLE, ACCOUNTING, COMPLIANCE/INTERNAL AUDIT, CONTRACTING, RISK MANAGEMENT, MARKETING, WELLNESS, PRINTING AND CREDENTIALLING. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E Fanale MD Director - President/ceo/cne | OfficerTrustee | 55 | $1,726,102 |
F Joseph Iannoni Asst. Treas./evp/cfo/cne | Officer | 55 | $700,931 |
Phil Kahn Chief Information Officer | Officer | 55 | $373,648 |
Patricia A Devaney SVP Hr (termed 12/8/20) | Officer | 55 | $312,551 |
Ashley M Taylor ESQ Asst. Sec./gen. Counsel/cne | Officer | 55 | $311,793 |
Michael Ryan Pres/coo/cnemg(termed 2/18/20) | Officer | 55 | $306,540 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brigham Womens Physician Organiza Medical | 9/29/21 | $11,916,465 |
Rehabilitation Hospital Medical | 9/29/21 | $7,971,908 |
Sodexo Inc Affiliates Food/management | 9/29/21 | $9,013,896 |
Cerner Corporation It | 9/29/21 | $8,341,535 |
Abm Engineering | 9/29/21 | $6,386,616 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,285 |
| All other contributions, gifts, grants, and similar amounts not included above | $352,769 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $371,054 |
| Total Program Service Revenue | $171,296,450 |
| Investment income | $16,347 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $329,888 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $172,013,739 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $372,250 |
| 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. | $5,571,068 |
| Compensation of current officers, directors, key employees. | $557,107 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,608,226 |
| Pension plan accruals and contributions | $3,012,942 |
| Other employee benefits | $7,713,156 |
| Payroll taxes | $4,296,398 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,685,966 |
| Fees for services: Accounting | $592,000 |
| Fees for services: Lobbying | $145,461 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,954,980 |
| Advertising and promotion | $827,276 |
| Office expenses | $4,156,074 |
| Information technology | $13,409,498 |
| Royalties | $0 |
| Occupancy | $4,952,446 |
| Travel | $124,571 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,956 |
| Interest | $1,972,956 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,092,546 |
| Insurance | $247,282 |
| All other expenses | $0 |
| Total functional expenses | $177,797,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$3,907,524 |
| Savings and temporary cash investments | -$96,136,338 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,650 |
| 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 | $6,183,089 |
| Net Land, buildings, and equipment | $10,316,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $22,286,600 |
| Intangible assets | $0 |
| Other assets | $138,326,974 |
| Total assets | $77,099,194 |
| Accounts payable and accrued expenses | $39,311,530 |
| Grants payable | $0 |
| Deferred revenue | $75,888 |
| Tax-exempt bond liabilities | $149,238,708 |
| 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 | $92,900,927 |
| Total liabilities | $281,527,053 |
| Net assets without donor restrictions | -$204,548,317 |
| Net assets with donor restrictions | $120,458 |
| 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 | $77,099,194 |
Grants Awarded
Over the last fiscal year, Care New England Health System has awarded $369,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF PROVIDENCE PURPOSE: GENERAL SUPPORT | $357,000 |
Dallas, TX PURPOSE: GENERAL SUPPORT | $12,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Care New England Health System has recieved totaling $28,512.
| Awarding Organization | Amount |
|---|---|
Building Futures Providence, RI PURPOSE: SUB AWARD IN SUPPORT OF REGISTERED APPRENTICESHIP DEVELOPMENT AND TRAINING | $28,512 |
Endowment Analysis
| Beg. Balance | $124,158 |
| Net Contributions | $6,850 |
| Other Expense | $10,550 |
| Ending Balance | $120,458 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cape Cod Healthcare Inc Hyannis, MA | $1,256,505,571 | $986,611,618 |
Hartford Health Care Corporation Hartford, CT | $2,668,436,051 | $551,640,424 |
Whidden Memorial Hospital Inc Malden, MA | $90,823,513 | $333,237,018 |
Mass General Brigham Incorporated Boston, MA | $523,876,840 | $299,721,576 |
Trinity Health Of New England Corporation Inc Hartford, CT | $683,679,706 | $237,315,884 |
Mass General Brigham Incorporated Somerville, MA | $524,510,889 | $261,319,708 |
Hartford Healthcare Medical Group Inc Wethersfield, CT | $153,642,839 | $203,353,516 |
Care New England Health System Providence, RI | $77,099,194 | $172,013,739 |
Baystate Administrative Services Inc Springfield, MA | $41,895,061 | $148,686,621 |
Medical Care Of Boston Management Corporation Needham, MA | $49,345,299 | $101,898,024 |
Mass General Brigham Incorporated Boston, MA | $33,300,388 | $129,616,534 |
Cape Cod Healthcare Inc Hyannis, MA | $424,302,862 | $116,473,308 |