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Nonprofiteer
← MIRIAM HOSPITAL FOUNDATION

Form 990 for tax year 2024

Filed by MIRIAM HOSPITAL FOUNDATION.

Totals

Total revenue
$25,111,437
Total expenses
$11,159,666
Contributions and grants received
$19,052,535
Grants paid
$9,625,896
Program service revenue
$0
Investment income
$6,238,938
Other revenue
-$180,036
Total assets, end of year
$94,608,034
Total liabilities, end of year
$1,881,473
Net assets or fund balances, end of year
$92,726,561
Program services expenses (Part IX)
$9,625,896
Management and general expenses
$55,139
Fundraising expenses
$1,478,631
Program service expenses (Part III)
$9,625,896

Program services were 86.3% 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

    $666,186

  • 1d · Related organizations

    $161,627

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $18,224,722

  • 1g · Noncash contributions included above

    $1,382,836

  • 3 · Investment income

    total $2,020,634 · related or exempt $0 · unrelated business $0 · excluded $2,020,634

  • 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 $20,698,599 · other assets $0

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

    securities $16,480,295 · other assets $0

  • 7c · Gain or loss

    securities $4,218,304 · other assets $0

  • 7d · Net gain or loss

    total $4,218,304 · related or exempt $0 · unrelated business $0 · excluded $4,218,304

  • 8a · Fundraising events: gross income

    $219,129

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

    $666,186

  • 8b · Fundraising events: direct expenses

    $399,165

  • 8c · Net income from fundraising events

    total -$180,036 · unrelated business $0 · excluded -$180,036

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,625,896 · program services $9,625,896

  • 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 $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $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 $65,873 · program services $0 · management and general $0 · fundraising $65,873

  • 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 $1,395,667 · program services $0 · management and general $0 · fundraising $1,395,667

  • 24b · Other expenses: Uncollectible pledge expense

    total $34,164 · program services $0 · management and general $34,164 · fundraising $0

  • 24c · Other expenses: Other expense

    total $20,975 · program services $0 · management and general $20,975 · fundraising $0

  • 24d · Other expenses: Printing & publication

    total $11,108 · program services $0 · management and general $0 · fundraising $11,108

  • 24e · All other expenses

    total $5,983 · program services $0 · management and general $0 · fundraising $5,983

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,912 · end of year $122,524

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $6,219,376 · end of year $16,336,853

  • 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 $8,251 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $43,510,153 · end of year $49,474,090

  • 12 · Investments: other securities

    beginning of year $28,589,495 · end of year $28,151,686

  • 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 $486,695 · end of year $522,881

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,102 · end of year $109,768

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $977,561 · end of year $1,232,232

  • 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 · end 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 $525,281 · end of year $539,473

  • 27 · Net assets without donor restrictions

    beginning of year $35,445,530 · end of year $36,893,694

  • 28 · Net assets with donor restrictions

    beginning of year $41,837,408 · end of year $55,832,867

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.

Activities or mission (Part I)

To engage in philanthropic activities to support the mission and purposes of The Miriam Hospital (TMH), which are delivering health with care.

  • Through the development and administration of its philanthropic activities, in fiscal year 2025 The Miriam Hospital Foundation (TMHF) transferred temporarily restricted net assets totaling $7,934,963 to TMH to support its operations and capital expenditures. Most notably, TMHF transferred $5,422,723 for the TMH Centennial Capital Campaign for renovations/construction to the TMH hospital campus with focus on the Emergency Department, private rooms, the relocation of the inpatient oncology department; and may expand to other areas. Includes purchases of furniture/equipment. Additional transfers to TMH included $430,630 in support of the TMH Spine Center, $230,119 towards operation of TMH's Emergency Department,$176,236 to the Cardiology Department to be used for operational needs, and $138,066 in support of Neuroscience research and Department of Medicine education.

    Expenses $7,934,963 · Grants $7,934,963

  • During fiscal year 2025, TMHF granted $1,312,815 from its unrestricted net assets to TMH to be used in support of the following areas: (1) to support TMH Centennial Campaign Fund ($1,232,815); (2) to TMH's Nursing Education ($80,000).

    Expenses $1,312,815 · Grants $1,312,815

  • TMHF provided $378,118 to The Warren Alpert Medical School of Brown University in fiscal year 2025 in support of shared chairs in geriatrics, cardiology, immunology, and oncology.

    Expenses $378,118 · Grants $378,118

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

  • Maria P Ducharme

    President

    Total calculated
    $830,599
    From this org
    $0
    From related orgs
    $694,877
    Other
    $135,722
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $604,168 related
    Bonus
    $0 + $90,709 related
    Other
    $0
    Deferred
    $0 + $105,125 related
    Nontaxable benefits
    $0 + $30,597 related
    Filer's total
    $0 + $830,599 related

  • Caroline Bazar Aparo

    Trustee

    Total calculated
    $0
    Hours/week
    0.1

  • Gale Aronson

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    0

  • Robert L Bahr MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph Brito Jr

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    0.1

  • Gary Bubly MD

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    0.1

  • Colby E Cameron Eaq

    Trustee

    Total calculated
    $0
    Hours/week
    0.05

  • Sherry Cohen

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Grace Dugan

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Robin Engle

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jonathon Fain

    Trustee

    Total calculated
    $0
    Hours/week
    0.05

  • Stuart Feldman

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    1

  • William H Fitzgerald

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brett Gerstenblatt

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Almon Hall

    Treas. Thru 12/10/24

    Total calculated
    $0
    Hours/week
    1

  • Steven J Issa

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Deborah G Jaffe

    Secretary thru 12/10/24

    Total calculated
    $0
    Hours/week
    0.25

  • Peter Karczmar MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Marianne Litwin

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jamie Manville

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Mark W Matrone

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Marcus Mitchell

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Joseph Perroni

    Trustee

    Total calculated
    $0
    Hours/week
    2.5

  • Michael Prescott

    Trustee

    Total calculated
    $0
    Hours/week
    0.1

  • David Rampone

    Chair

    Total calculated
    $0
    Hours/week
    4

  • Carolyn Roberts

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James V Rosati

    Trustee

    Total calculated
    $0
    Hours/week
    0.25

  • Fred Schiffman MD

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Sheri Sweitzer

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • William C Tsonos

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew Vrees MD

    Trustee thru 12/24

    Total calculated
    $0
    Hours/week
    1

  • Edward J Wing MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.33

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: Maria P. Ducharme - $84,425. 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): Maria P. Ducharme - $67,740. Peter K. Markell - $158,521. 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
202612309349301106

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