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Nonprofiteer
← NEWPORT HOSPITAL FOUNDATION INC

Form 990 for tax year 2022

Filed by NEWPORT HOSPITAL FOUNDATION INC.

Totals

Total revenue
$8,141,137
Total expenses
$8,649,388
Contributions and grants received
$4,150,084
Grants paid
$7,143,950
Program service revenue
$0
Investment income
$3,905,125
Other revenue
$85,928
Total assets, end of year
$116,918,552
Total liabilities, end of year
$1,062,554
Net assets or fund balances, end of year
$115,855,998
Program services expenses (Part IX)
$7,143,950
Management and general expenses
$270,759
Fundraising expenses
$1,234,679
Program service expenses (Part III)
$7,143,950

Program services were 82.6% 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.

  • 1c · Fundraising events

    $1,478,230

  • 1d · Related organizations

    $20,000

  • 1f · All other contributions, gifts and grants

    $2,651,854

  • 1g · Noncash contributions included above

    $62,876

  • 3 · Investment income

    total $2,560,215 · excluded $2,560,215

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

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $34,135,901

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

    securities $32,790,991

  • 7c · Gain or loss

    securities $1,344,910

  • 7d · Net gain or loss

    total $1,344,910 · excluded $1,344,910

  • 8a · Fundraising events: gross income

    $302,800

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

    $1,478,230

  • 8b · Fundraising events: direct expenses

    $216,872

  • 8c · Net income from fundraising events

    total $85,928 · excluded $85,928

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,143,950 · program services $7,143,950

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $252,059 · management and general $252,059

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Svcs purchased from Lifespan

    total $1,171,803 · fundraising $1,171,803

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

    total $62,876 · fundraising $62,876

  • 24c · Other expenses: Administrative expenses

    total $18,700 · management and general $18,700

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $270,390 · end of year $1,588,217

  • 3 · Pledges and grants receivable

    beginning of year $1,561,365 · end of year $1,560,520

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $31,764

  • 10b · Land, buildings and equipment: accumulated depreciation

    $31,764

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $44,666,631 · end of year $50,373,079

  • 12 · Investments: other securities

    beginning of year $40,524,307 · end of year $38,895,035

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $23,485,850 · end of year $24,501,701

  • 19 · Deferred revenue

    beginning of year $42,286 · end of year $36,248

  • 25 · Other liabilities

    beginning of year $143,483 · end of year $1,026,306

  • 27 · Net assets without donor restrictions

    beginning of year $108,838,537 · end of year $114,202,338

  • 28 · Net assets with donor restrictions

    beginning of year $1,484,237 · end of year $1,653,660

Mission and programs · 2022

Mission

NHF supports, encourages and coordinates the development of comprehensive, integrated health care-related services for the advancement and well-being of the community, in furtherance of the purposes of Newport Hospital (see Schedule O)

Activities or mission (Part I)

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).

  • During fiscal year 2023, NHF transferred $4,600,000 from its unrestricted net assets to NHCC Medical Associates, Inc. in support of its operating activities.

    Expenses $4,600,000 · Grants $4,600,000

  • Through the development and administration of its philanthropic activities, in fiscal year 2023 NHF transferred funds raised in the aggregate amount of $2,543,950 to NH to support its capital expenditures and operations, which in turn benefits the southern Rhode Island community. Most significantly, $1,500,297 was transferred to NH to defray costs related to medical equipment upgrades related to two CT Scanners. Other notable operating activities of NH supported by NHF include: funding (1) construction related to NH's Behavioral Health program ($553,200), (2) additional "Beyond the Building" Emergency Department renovations ($112,600), (3) the Norman Prince Neurosciences Institute ($90,200), (4) Intensive Care Unit and Critical Care Unit support ($75,000),(5) and NH's Nursing Education Fund ($67,146).

    Expenses $2,543,950 · Grants $2,543,950

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David A Kirshner

    EVP/CFO- 11/22

    Total calculated
    $877,827
    From this org
    $0
    From related orgs
    $857,218
    Other
    $20,609
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    not reported + $662,492 related
    Bonus
    not reported
    Other
    not reported + $194,726 related
    Deferred
    not reported + $12,141 related
    Nontaxable benefits
    not reported + $8,468 related
    Filer's total
    not reported + $877,827 related

  • Crista F Durand

    President

    Total calculated
    $614,356
    From this org
    $0
    From related orgs
    $501,054
    Other
    $113,302
    Hours/week
    10 + 55 related

    Schedule J breakdown matched by us

    Base
    not reported + $411,596 related
    Bonus
    not reported
    Other
    not reported + $89,458 related
    Deferred
    not reported + $84,820 related
    Nontaxable benefits
    not reported + $28,482 related
    Filer's total
    not reported + $614,356 related

  • Jeffrey T Gaines MD

    Trustee

    Total calculated
    $449,373
    From this org
    $0
    From related orgs
    $364,201
    Other
    $85,172
    Hours/week
    2 + 41 related

    Schedule J breakdown matched by us

    Base
    not reported + $330,956 related
    Bonus
    not reported
    Other
    not reported + $33,245 related
    Deferred
    not reported + $56,719 related
    Nontaxable benefits
    not reported + $28,453 related
    Filer's total
    not reported + $449,373 related

  • Arthur J Sampson

    Trustee

    Total calculated
    $435,996
    From this org
    $0
    From related orgs
    $417,696
    Other
    $18,300
    Hours/week
    2 + 6 related

    Schedule J breakdown matched by us

    Base
    not reported + $412,504 related
    Bonus
    not reported
    Other
    not reported + $5,192 related
    Deferred
    not reported + $18,300 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $435,996 related

  • Orla M Brandos DNPMBAMSN

    Trustee

    Total calculated
    $352,019
    From this org
    $0
    From related orgs
    $285,994
    Other
    $66,025
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    not reported + $244,344 related
    Bonus
    not reported
    Other
    not reported + $41,650 related
    Deferred
    not reported + $43,777 related
    Nontaxable benefits
    not reported + $22,248 related
    Filer's total
    not reported + $352,019 related

  • Gail Alofsin

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sr Therese M Antone

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Holly Bannister MD

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Carol R Bazarsky

    Chairperson

    Total calculated
    $0
    Hours/week
    2

  • John Brooks

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Peter Capodilupo

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Norey D Cullen

    Trustee- 12/22

    Total calculated
    $0
    Hours/week
    0

  • Edward D Feldstein

    Trustee

    Total calculated
    $0
    Hours/week
    0.2 + 2.9 related

  • Rita B Gewirz

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Bradford C Gray MD

    Trustee- 12/22

    Total calculated
    $0
    Hours/week
    0.5

  • Anne F Hamilton

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Victoria Johnson

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Patricia N Kidder

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth W Leatherman

    Trustee

    Total calculated
    $0
    Hours/week
    0.25

  • Paul A Leys

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Thomas E McGue MD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Juliette C McLennan

    Trustee- 12/22

    Total calculated
    $0
    Hours/week
    0

  • Ann Mencoff

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jonathan H Pardee

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Sandra J Pattie

    Trustee- 12/22

    Total calculated
    $0
    Hours/week
    0

  • James A Purviance

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Oliver Quinn

    Trustee- 12/22

    Total calculated
    $0
    Hours/week
    0

  • Isabella G Ridall

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Sarah Schochet-Henken

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Nancy D Schreiber MD

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Barbara van Beuren

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Sharon Wood Prince

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Peter K Markell

    EVP & CFO

    Total calculated
    $0
    Hours/week
    0.1 + 49.9 related

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

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.

  • ALC dba HSR

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Bayberry Courts Inc

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Bradley Hospital Foundation

    501(c)(3) · Philanthropic Activities · RI

    Directly controlled by Lifespan Corporation

  • Capital City Community Centers Inc

    501(c)(3) · Daycare Services · RI

    Directly controlled by Gateway Healthcare Inc

  • Emma Pendleton Bradley Hospital

    501(c)(3) · Pediatric Psych. Health Care Svcs · RI

    Directly controlled by Lifespan Corporation

  • Families Reaching Into Each New Day Inc

    501(c)(3) · Bereavement Services for Children · RI

    Directly controlled by Gateway Healthcare Inc

  • Gateway Healthcare Inc

    501(c)(3) · Subst. Abuse & Psych. Health Care Svcs · RI

    Directly controlled by Lifespan Corporation

  • Hospital Properties Inc

    501(c)(4) · Property Management · RI

    Directly controlled by Lifespan Corporation

  • JM Apartments Inc

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Lifespan Corporation

    501(c)(3) · Holding Company/ Mgmnt Services · RI

    Directly controlled by NA

  • Lifespan Foundation

    501(c)(3) · Philanthropic Activities · RI

    Directly controlled by Lifespan Corporation

  • Lifespan of Massachusetts Inc

    501(c)(3) · Holding Company · MA

    Directly controlled by Lifespan Corporation

  • Lifespan Physician Group Inc

    501(c)(3) · Physician Health Care Services · RI

    Directly controlled by Lifespan Corporation

  • Lifespan School Solutions Inc

    501(c)(3) · Educational Services · RI

    Directly controlled by Emma Pendleton Bradley Hospital

  • LJR Corporation

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Mill River Community Housing Corporation

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Newport Health Care Corporation

    501(c)(3) · Holding Company/ Mgmnt Services · RI

    Directly controlled by Lifespan Corporation

  • Newport Health Property Management Inc

    501(c)(3) · Property Management · RI

    Directly controlled by Newport Health Care Corporation

  • Newport Hospital

    501(c)(3) · Health Care Services · RI

    Directly controlled by Lifespan Corporation

  • NHCC Medical Associates Inc

    501(c)(3) · Health Care Services · RI

    Directly controlled by Lifespan Corporation

  • Obed Apartments Inc

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Pathways Inc

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Rhode Island Hospital

    501(c)(3) · Health Care Services · RI

    Directly controlled by Lifespan Corporation

  • Rhode Island Hospital Foundation

    501(c)(3) · Philanthropic Activities · RI

    Directly controlled by Lifespan Corporation

  • RIH Ventures

    501(c)(3) · Parking Facilities/Phlebotomy Services · RI

    Directly controlled by Lifespan Corporation

  • Shore Courts Inc

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • The Autism Project

    501(c)(3) · Services for Children with Autism · RI

    Directly controlled by Gateway Healthcare Inc

  • The Miriam Hospital

    501(c)(3) · Health Care Services · RI

    Directly controlled by Lifespan Corporation

  • The Miriam Hospital Foundation

    501(c)(3) · Philanthropic Activities · RI

    Directly controlled by Lifespan Corporation

  • TLR Realty

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Wentworth Corporation

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Westerly Courts Inc

    501(c)(3) · Housing for Elderly and Mentally Ill · RI

    Directly controlled by Gateway Healthcare Inc

  • Coastal Medical Physician Inc

    501(c)(3) · Physician Health Care Services · RI

    Directly controlled by Lifespan Corporation

  • RI Sound Enterprises Insurance Co Ltd

    N/A · Offshore Insurance Captive · BD

    Directly controlled by Lifespan Corporation

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.

  • Lifespan Health Alliance LLC

    Account. Care Org. · RI

Related corporations and trusts

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

  • Lifespan MSO Inc

    C corp · Mgmnt. Svcs. · RI

    Directly controlled by Lifespan Corp

  • Lifespan Risk Services Inc

    C corp · Risk Mgmnt. · RI

    Directly controlled by Lifespan Corp

  • VNA Technicare Inc

    C corp · DME Sales · RI

    Directly controlled by The Miriam Hospital

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202422279349302367

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