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← RHODE ISLAND HOSPITAL FOUNDATION

Form 990 for tax year 2024

Filed by RHODE ISLAND HOSPITAL FOUNDATION.

Totals

Total revenue
$25,366,267
Total expenses
$16,790,327
Contributions and grants received
$20,151,923
Grants paid
$13,141,067
Program service revenue
$0
Investment income
$5,351,597
Other revenue
-$137,253
Total assets, end of year
$86,169,595
Total liabilities, end of year
$318,611
Net assets or fund balances, end of year
$85,850,984
Program services expenses (Part IX)
$13,141,067
Management and general expenses
$337,754
Fundraising expenses
$3,311,506
Program service expenses (Part III)
$13,141,067

Program services were 78.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $1,586,131

  • 1d · Related organizations

    $5,000

  • 1e · Government grants (contributions)

    $35,000

  • 1f · All other contributions, gifts and grants

    $18,525,792

  • 1g · Noncash contributions included above

    $252,306

  • 3 · Investment income

    total $1,734,643 · related or exempt $0 · unrelated business $0 · excluded $1,734,643

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $17,774,836 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $14,157,882 · other assets $0

  • 7c · Gain or loss

    securities $3,616,954 · other assets $0

  • 7d · Net gain or loss

    total $3,616,954 · related or exempt $0 · unrelated business $0 · excluded $3,616,954

  • 8a · Fundraising events: gross income

    $485,019

  • 8a · Fundraising events: contributions included on line 1c

    $1,586,131

  • 8b · Fundraising events: direct expenses

    $622,272

  • 8c · Net income from fundraising events

    total -$137,253 · unrelated business $0 · excluded -$137,253

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,141,067 · program services $13,141,067

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $171,355 · fundraising $171,355

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Services purchased from Brown University Health

    total $3,067,443 · program services $0 · management and general $0 · fundraising $3,067,443

  • 24b · Other expenses: Uncollectible pledge expense

    total $306,342 · program services $0 · management and general $306,342 · fundraising $0

  • 24c · Other expenses: Gifts-in-kind

    total $72,708 · program services $0 · management and general $0 · fundraising $72,708

  • 24d · Other expenses: Other expenses

    total $31,412 · program services $0 · management and general $31,412 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $76,646 · end of year $44,672

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $13,310,028 · end of year $18,711,348

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $218,236 · end of year $220,674

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $37,010,549 · end of year $41,485,219

  • 12 · Investments: other securities

    beginning of year $25,426,231 · end of year $25,531,983

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $56,888 · end of year $175,699

  • 17 · Accounts payable and accrued expenses

    beginning of year $139,886 · end of year $284,492

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $28,790 · end of year $34,119

  • 27 · Net assets without donor restrictions

    beginning of year $1,640,122 · end of year $980,233

  • 28 · Net assets with donor restrictions

    beginning of year $74,289,780 · end of year $84,870,751

Mission and programs · 2024

Mission

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 Brown University Health and its affiliates.

  • During fiscal year 2025, Rhode Island Hospital Foundation (RIHF) made transfers of $2,039,411 to Rhode Island Hospital (RIH) to support the renovations, relocation and creation of The POC Center for Sickle Cell and Other Diseases in addition to supporting both the program and staffing. Other significant philanthropic transfers to RIH were as follows: (1) $1,406,756 to Rainwater Neurosurgery Research in general support, including equipment purchases, for brain tumor and other brain cancer related research for the Brain Tumor Program within Neurosurgery at RIH; (2) $788,605 to provide resources to support critical components necessary to create an environment to treat and unravel mysteries of the brain and nervous system; (3) $680,358 for general cancer institute support and usage inclusive of providing patient assistance within the Brown University Health Cancer Institute at RIH; and(4) $502,860 To support the design and construction costs associated with the renovations of the RIH lobby.

    Expenses $8,203,534 · Grants $8,203,534

  • Through the development and administration of its philanthropic activities, RIHF is able to transfer funds raised to 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 2025, the Foundation transferred the following to various HCH programs and capital projects: (1) $516,012 for the general purposes of treating children with cancer as determined by the Director of Hematology/Oncology; (2) $434,208 to support the Pediatric Pulmonary Program; and (3) $446,731 in support of the Child Life Program, which offers pediatric patients and their families opportunities for recreation, creativity, and diversion to provide a sense of normalcy during their hospital stay. The goals of HCH's Child Life Program are to: (a) encourage children and adolescents to maintain a sense of independence, self-esteem, and control; (b) reduce the potential stress associated with the medical experience; (c) reestablish family routines; and (d) listen and advocate for family-centered care.

    Expenses $4,393,748 · Grants $4,393,748

  • RIHF remitted $538,785 of endowment earnings to The Warren Alpert Medical School of Brown University in fiscal year 2025 in support of shared chairs in cardiothoracic surgery, orthopedics, urology, emergency medicine, and oncology.

    Expenses $538,785 · Grants $538,785

  • RIHF remitted $5,000 of grants to outside agencies in fiscal year 2025 in support of scholarships awards related to nursing and pre-med studies.

    Expenses $5,000 · Grants $5,000

As filed on the 2024 return.

Listed in Part VII

  • Peter K Markell

    EVP & CFO

    Total calculated
    $1,505,315
    From this org
    $0
    From related orgs
    $1,464,555
    Other
    $40,760
    Hours/week
    0.1 + 59.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,221,588 related
    Bonus
    $0
    Other
    $0 + $242,967 related
    Deferred
    $0 + $18,975 related
    Nontaxable benefits
    $0 + $21,785 related
    Filer's total
    $0 + $1,505,315 related

  • Dean G Roye MD

    President thru 6/24

    Total calculated
    $1,003,541
    From this org
    $0
    From related orgs
    $845,405
    Other
    $158,136
    Hours/week
    0 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $745,658 related
    Bonus
    $0
    Other
    $0 + $99,747 related
    Deferred
    $0 + $123,743 related
    Nontaxable benefits
    $0 + $34,393 related
    Filer's total
    $0 + $1,003,541 related

  • Sarah Frost

    President

    Total calculated
    $814,484
    From this org
    $0
    From related orgs
    $744,621
    Other
    $69,863
    Hours/week
    10 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $590,705 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $3,916 related
    Deferred
    $0 + $69,756 related
    Nontaxable benefits
    $0 + $107 related
    Filer's total
    $0 + $814,484 related

  • Phyllis A Dennery MD

    Trustee

    Total calculated
    $807,538
    From this org
    $0
    From related orgs
    $758,853
    Other
    $48,685
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $679,667 related
    Bonus
    $0 + $64,648 related
    Other
    $0 + $14,538 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $27,985 related
    Filer's total
    $0 + $807,538 related

  • Sheryl Amaral

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Roger N Begin

    Interim Chair eff 12/24

    Total calculated
    $0
    Hours/week
    1 + 12 related

  • Paul Busby

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Anthony Calandrelli

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • James L Carr Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Denise Chakoian

    Trustee

    Total calculated
    $0
    Hours/week
    5

  • Wayne Charness

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    1

  • Michael D'Ambra

    Trustee

    Total calculated
    $0
    Hours/week
    0.15

  • Sandy Delli-Carpini

    Trustee

    Total calculated
    $0
    Hours/week
    0.1

  • Bradford S Dimeo

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Edwin G Fischer MD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ralph V Fleming Jr

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    0

  • Lisa M Gilbert

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Kristen Haffenreffer-Moran

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Elizabeth Huber

    V.Chair

    Total calculated
    $0
    Hours/week
    0.25

  • Jerry Hyman

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mahesh V Jayaraman MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Dolph Johnson

    Trustee

    Total calculated
    $0
    Hours/week
    0.25

  • Keith D Kelly

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Scott B Laurans

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Thomas A Lawson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Francois I Luks MD PhD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Robert Manning

    Treasurer

    Total calculated
    $0
    Hours/week
    0.25

  • Donna M Paolino

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Holly Paras

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Elizabeth J Perik

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James A Procaccianti

    Trustee

    Total calculated
    $0
    Hours/week
    10

  • Nicholas J Rodriques

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Douglas Scala

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    0

  • Anthony Thomas

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Melisa Verrecchia

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Victor Vetters

    Trustee

    Total calculated
    $0
    Hours/week
    11

  • Robert K Vincent

    Chair thru 12/10/24

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4
Line 4b: Brown Health offers a non-qualified supplemental employee retirement plan (SERP) to certain executives. The following individual was credited with the non-vested amounts indicated during calendar year 2024 and such amounts are included in deferred compensation on Schedule J, Part II, Column C: Sarah Frost - $69,756. G. Dean Roye, MD - $103,043. In 2024, the following individuals became vested in and were paid a non-qualified supplemental employee retirement plan (SERP) amount and such amounts are included in Medicare wages, more specifically on Schedule J, Part II, Column B(iii): Peter K. Markell - $158,521. G. Dean Roye, MD - $76,998. The portion of the above payments that was reported as deferred compensation in prior years is reflected on Schedule J, Part II, Column F. Participants included in Brown Health's SERP are awarded plan contributions on a quarterly basis. Contributions and interest earned during a plan year vest after three years and are paid to plan participants at that time. SERP payments earned during the calendar year which have not yet vested are disclosed on Schedule J, Part II, Column C. Vested SERP payments received during the year are disclosed on Schedule J, Part II, Column B(iii) (as well as Column F if reported on Schedule J, Part II, Column C of a previously filed Form 990). Plan contributions awarded to participants who have reached age 62 become vested as of the beginning of the following calendar year.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Brown University Health Alliance LLC

    Accountable Care Organization · RI

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Brown University Health MSO

    C · Management Services · RI · 0% owned · share of income $0 · share of assets $0

    Directly controlled by Brown University Health

  • Brown University Health Risk Services

    C · Risk Management · RI · 0% owned · share of income $0 · share of assets $0

    Directly controlled by Brown University Health

  • Brown University Health Home Medical

    C · DME Sales · RI · 0% owned · share of income $0 · share of assets $0

    Directly controlled by The Miriam Hospital

Provenance

Return type
form_990
Tax year
2024
Filed
17 August 2026
IRS schema version
2024v5.0
Source object
202632309349301103

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