Newport Hospital Foundation Inc

Organization Overview

Newport Hospital Foundation Inc is located in Newport, RI. The organization was established in 1985. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, 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. Newport Hospital Foundation Inc 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 Foundation Inc generated $13.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $10.8m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Newport Hospital Foundation Inc has awarded 20 individual grants totaling $99,222,354. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

NEWPORT HOSPITAL FOUNDATION (NHF) COORDINATES FUNDRAISING IN SUPPORT OF COMPREHENSIVE INTEGRATED HEALTH CARE SERVICES FOR THE ADVANCEMENT AND WELL-BEING OF THE SOUTHERN RHODE ISLAND COMMUNITY, IN FURTHERANCE OF THE PURPOSES OF NEWPORT HOSPITAL(NH).

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING FISCAL YEAR 2021, NHF TRANSFERRED $8,101,900 FROM ITS UNRESTRICTED NET ASSETS TO NHCC MEDICAL ASSOCIATES, INC. IN SUPPORT OF ITS OPERATING ACTIVITIES.


THROUGH THE DEVELOPMENT AND ADMINISTRATION OF ITS PHILANTHROPIC ACTIVITIES, IN FISCAL YEAR 2021 NHF TRANSFERRED FUNDS RAISED IN THE AGGREGATE AMOUNT OF $1,265,193 TO NH TO SUPPORT ITS CAPITAL EXPENDITURES AND OPERATIONS, WHICH IN TURN BENEFITS THE SOUTHERN RHODE ISLAND COMMUNITY. MOST SIGNIFICANTLY, $884,084 WAS TRANSFERRED TO NH FROM "BEYOND THE BUILDING-THE CAMPAIGN FOR NEWPORT HOSPITAL", A $13,700,000 FUNDRAISING CAMPAIGN TO FURTHER THE EXPANSION AND TRANSFORMATION OF NH'S EMERGENCY DEPARTMENT. OTHER NOTABLE OPERATING ACTIVITIES OF NH SUPPORTED BY NHF INCLUDE: (1) NH'S EMERGENCY PREPAREDNESS FUND IN SUPPORT OF COVID-19 PATIENT CARE ($77,416);(2) THE BEHAVIORAL HEALTH FUND ($55,000); AND (3)CHARITY CARE ($53,731).


IN FISCAL YEAR 2021, NHF PROVIDED NEWPORT COMMUNTY SCHOOL $35,000 TO ASSIST IN FUNDING COMMUNITY GRANTS.


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Board, Officers & Key Employees

Name (title)Compensation
Crista F Durand
President
$0
Norey D Cullen
Chairperson
$0
Edward D Feldstein ESQ
V.chair- 12/20
$0
David S Gordon
Secty.- 12/20
$0
Rita B Gewirz
Vice Chair
$0
Juliette C Mclennan
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$590,291
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,491,497
Noncash contributions included in lines 1a–1f $87,131
Total Revenue from Contributions, Gifts, Grants & Similar$2,081,788
Total Program Service Revenue$0
Investment income $2,420,326
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $9,256,071
Net Income from Fundraising Events $119,631
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $13,877,816

Grants Awarded

Over the last fiscal year, Newport Hospital Foundation Inc has awarded $9,402,093 in support to 3 organizations.

Grant RecipientAmount

NHCC MEDICAL ASSOCIATES INC

Org PageRecipient Profile

Newport, RI

PURPOSE: Operational support

$8,101,900

Newport, RI

PURPOSE: Operational/Capital Support

$1,265,193

NEWPORT COMMUNITY SCHOOL

Org PageRecipient Profile

Newport, RI

PURPOSE: Community Healthcare Services

$35,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 21 grants that Newport Hospital Foundation Inc has recieved totaling $775,764.

Awarding OrganizationAmount
Alletta Morris Mcbean Charitable Trust

La Quinta, CA

PURPOSE: DIAGNOSTIC AND MEDICAL IMAGING IMPROVEMENT

$250,000
Thomas A Rodgers Jr Family Foundation

Newport, RI

PURPOSE: EMERGENCY ROOM CAPITAL CAMPAIGN

$100,000
Goldman Sachs Philanthropy Fund

New York, NY

PURPOSE: MEDICAL / PUBLIC SERVICES

$76,500
The Rhode Island Community Foundation

Providence, RI

PURPOSE: GENERAL SUPPORT; VANDERBILT INPATIENT CENTER; PURCHASE OF DIAGNOSTIC IMAGING EQUIPMENT; PROGRAM SUPPORT; UNRESTRICTED; LIFESPAN CANCER INSTITUTE AT NEWPORT HOSPITAL

$61,500
Van Beuren Charitable Foundation Inc

New York, NY

PURPOSE: OPERATING- GENERAL, IMAGING EQUIPMENT, CAMPAIGN AND ANNUAL FUND

$55,000
Gruben Charitable Foundation

Newport, RI

PURPOSE: UNRESTRICTED

$35,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$111,037,641
Earnings$24,638,421
Net Contributions$2,705,697
Other Expense$1,265,193
Grants$7,601,900
Ending Balance$129,514,666

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