Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $15,809,134

• 1e · Government grants (contributions)

  $308,379

• 1f · All other contributions, gifts and grants

  $1,948,906

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $1,892,180,744 · related or exempt $1,892,180,744

• 2b · Program service revenue: BROWN HEALTH PHARMACY

  total $387,895,982 · related or exempt $387,893,092 · unrelated business $2,890

• 2c · Program service revenue: DIRECT REV FROM RESEARCH

  total $88,706,061 · related or exempt $88,706,061

• 2d · Program service revenue: RENTAL

  total $7,083,230 · related or exempt $7,083,230

• 2e · Program service revenue: TEMP RESTRICTED (SPF'S)

  total $5,409,651 · related or exempt $5,409,651

• 2f · All other program service revenue

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

• 3 · Investment income

  total $20,752,816 · excluded $20,752,816

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

  total $8,449,635 · excluded $8,449,635

• 6a · Gross rents

  real property $3,673,057

• 6b · Less rental expenses

  real property $2,122,027

• 6c · Rental income or loss

  real property $1,551,030 · personal property $0

• 6d · Net rental income or loss

  total $1,551,030 · excluded $1,551,030

• 7a · Gross sales of assets other than inventory

  securities $169,370,743

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

  securities $134,803,942

• 7c · Gain or loss

  securities $34,566,801 · other assets $0

• 7d · Net gain or loss

  total $34,478,323 · excluded $34,478,323

• 11a · Other revenue: CAFETERIA REVENUE

  total $6,058,763 · excluded $6,058,763

• 11b · Other revenue: LAB SERVICES

  total $3,698,739 · unrelated business $3,698,739

• 11c · Other revenue: SALE OF HEAT, LIGHT AND POWER, GASES

  total $1,559,621 · related or exempt $1,559,621

• 11d · All other revenue

  total -$21,311,600 · related or exempt -$23,206,780 · unrelated business $1,783,179 · excluded $112,001

• 11e · Other revenue, total

  -$9,994,477

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,382,981 · program services $1,382,981

• 2 · Grants to domestic individuals

  total $35,000 · program services $35,000

• 5 · Compensation of officers, directors and key employees

  total $1,971,863 · management and general $1,971,863

• 6 · Compensation of disqualified persons

  total $896,702 · program services $10,472 · management and general $886,230

• 7 · Other salaries and wages

  total $640,465,664 · program services $639,689,911 · management and general $775,753

• 8 · Pension plan contributions

  total $27,432,624 · program services $27,432,624

• 9 · Other employee benefits

  total $111,830,662 · program services $103,511,077 · management and general $8,319,585

• 10 · Payroll taxes

  total $45,272,439 · program services $45,046,461 · management and general $225,978

• 11f · Fees: investment management

  total $912,226 · management and general $912,226

• 11g · Fees: other

  total $219,164,547 · program services $219,164,547 · management and general $0 · fundraising $0

• 12 · Advertising and promotion

  total $73,919 · program services $73,919

• 13 · Office expenses

  total $31,821,740 · program services $31,644,914 · management and general $176,826

• 16 · Occupancy

  total $34,209,107 · program services $34,209,107

• 17 · Travel

  total $1,744,585 · program services $1,739,422 · management and general $5,163

• 19 · Conferences, conventions and meetings

  total $2,614,834 · program services $2,281,925 · management and general $332,909

• 20 · Interest

  total $16,625,249 · program services $16,625,249

• 22 · Depreciation, depletion and amortization

  total $66,880,959 · program services $61,327,447 · management and general $5,553,512

• 23 · Insurance

  total $28,407,618 · program services $28,407,618

• 24a · Other expenses: MEDICAL & SURGICAL SUPPLIES

  total $673,732,912 · program services $673,732,912

• 24b · Other expenses: PURCH SVS & EQUIP CONTRACTS

  total $207,967,221 · program services $43,432,944 · management and general $164,534,277

• 24c · Other expenses: PROVISION FOR BAD DEBTS

  total $55,701,416 · program services $55,701,416

• 24d · Other expenses: FEDERAL TAXES

  total $86,607 · program services $86,607

• 24e · All other expenses

  total $89,931,354 · program services $89,551,354 · management and general $380,000 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $656,458 · end of year $1,259,034

• 2 · Savings and temporary cash investments

  beginning of year $102,161,607 · end of year $63,279,040

• 3 · Pledges and grants receivable

  beginning of year $14,142,675 · end of year $18,369,782

• 4 · Accounts receivable

  beginning of year $191,772,821 · end of year $190,946,505

• 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

• 8 · Inventories for sale or use

  beginning of year $39,654,777 · end of year $43,186,694

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,342,367 · end of year $3,792,820

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

  $1,304,694,289

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

  $773,414,938

• 10c · Land, buildings and equipment, net

  beginning of year $484,733,772 · end of year $531,279,351

• 11 · Investments: publicly traded securities

  beginning of year $635,247,284 · end of year $521,591,830

• 12 · Investments: other securities

  beginning of year $41,020,086 · end of year $5,740,159

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $319,471,317 · end of year $781,025,076

• 17 · Accounts payable and accrued expenses

  beginning of year $130,488,597 · end of year $114,545,798

• 19 · Deferred revenue

  beginning of year $367,081 · end of year $699,882

• 20 · Tax-exempt bond liabilities

  beginning of year $332,492,871 · end of year $317,089,657

• 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 $147,750,000 · end of year $147,750,000

• 24 · Unsecured notes and loans payable

  beginning of year $11,469,688 · end of year $9,850,438

• 25 · Other liabilities

  beginning of year $176,580,303 · end of year $361,027,991

• 27 · Net assets without donor restrictions

  beginning of year $569,146,942 · end of year $706,703,487

• 28 · Net assets with donor restrictions

  beginning of year $464,907,682 · end of year $502,803,038

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS

TAX INDEMNIFICATION AND GROSSED UP PAYMENTS: THE BROWN HEALTH EXECUTIVE LONG TERM DISABILITY PROGRAM PROVIDES FINANCIAL PROTECTION TO DESIGNATED BROWN HEALTH PHYSICIANS AND EXECUTIVES IN THE EVENT THAT THEY BECOME DISABLED. PREMIUMS ARE PAID TO THE INSURANCE CARRIER BY THE INSUREDS ON AN AFTER-TAX BASIS TO ALLOW FOR INCOME REPLACEMENT AT A REASONABLE COST. THE INCOME ASSOCIATED WITH THE PREMIUMS IS GROSSED UP TO COVER THE TOTAL COST OF THE BENEFIT AS PROVIDED IN THE BROWN HEALTH EXECUTIVE BENEFIT PLAN AND IS INCLUDED IN MEDICARE WAGES, MORE SPECIFICALLY ON SCHEDULE J, PART II, COLUMN B (III).

SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION

COMPENSATION OF THE RIH PRESIDENT IS DETERMINED BY THE COMPENSATION COMMITTEE OF BROWN UNIVERSITY HEALTH. THIS COMMITTEE'S DETERMINATION PROCESS UTILIZES A COMBINATION OF AN INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACTS, AND COMPENSATION STUDIES/SURVEYS, ALONG WITH APPROVAL BY THE BROWN HEALTH BOARD OF DIRECTORS.

SCHEDULE J, PART I, LINE 4A SEVERANCE OR CHANGE-OF-CONTROL PAYMENT

LINE 4A: THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE AND/OR CHANGE OF CONTROL PAYMENTS DURING THE CALENDAR YEAR ENDING DECEMBER 31, 2024: TIMOTHY J. BABINEAU, MD, FORMER PRESIDENT/CEO OF LIFESPAN CORP (BUH): $1,335,765. SAUL WEINGART, FORMER PRESIDENT: 373,178.32 CYNTHIA DANNER, FORMER CHIEF NURSING OFFICER: $141,230.

SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN

LINE 4B: BROWN UNIVERSITY HEALTH OFFERS A NON-QUALIFIED SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN TO CERTAIN EXECUTIVES. THE FOLLOWING INDIVIDUALS WERE CREDITED WITH THE AMOUNT INDICATED, DURING CALENDAR YEAR 2024 AND SUCH AMOUNT IS INCLUDED IN DEFERRED COMPENSATION ON SCHEDULE J, PART II, COLUMN C: JULIE ABILHEIRA - $45,120. PAUL ADLER - $106,677. CHRISTINE M. COLLINS - $52,878. JOHN FERNANDEZ - $313,833. SARAH E. FROST - $69,756. EVA GREENWOOD - $73,257. G. DEAN ROYE - $103,043. TRACEY L. WALLACE - $47,972. IN 2024, THE FOLLOWING INDIVIDUAL BECAME VESTED IN AND WAS PAID A NON-QUALIFIED SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN (SERP) AMOUNT AND SUCH AMOUNT IS INCLUDED IN MEDICARE WAGES, MORE SPECIFICALLY ON SCHEDULE J, PART II, COLUMN B(III): PAUL J. ADLER - $89,854. CHRISTINE M. COLLINS - $29,670. CYNTHIA DANNER - $55,507. G. DEAN ROYE - $76,888. PETER K. MARKELL - $158,521. TRACEY L. WALLACE - $28,263. PARTICIPANTS INCLUDED IN BROWN UNIVERSITY 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.

SCHEDULE J, PART I, LINE 6A COMPENSATION CONTINGENT ON NET EARNINGS OF THE ORGANIZATION

THE BROWN UNIVERSITY HEALTH ANNUAL INCENTIVE COMPENSATION PLAN PROVIDES A FINANCIAL AWARD OPPORTUNITY FOR DESIGNATED MEMBERS OF MANAGEMENT, BASED ON QUANTIFIED OBJECTIVES THAT ARE APPROVED IN ADVANCE BY THE COMPENSATION COMMITTEE OF THE BROWN UNIVERSITY HEALTH BOARD OF DIRECTORS. A SPECIFIED LEVEL OF FINANCIAL AND NON-FINANCIAL PERFORMANCE MUST BE MET BEFORE ANY AWARD IS EARNED. THE OBJECTIVES VARY FROM YEAR TO YEAR AND GENERALLY INCLUDE VARIOUS ASPECTS OF FINANCIAL MEASURES IN ADDITION TO NON-FINANCIAL PERFORMANCE MEASURES.

SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENTS

CERTAIN PHYSICIANS AND EXECUTIVES PARTICIPATE IN INCENTIVE COMPENSATION PLANS ARRANGED THROUGH INDIVIDUAL CONTRACTUAL AGREEMENTS WHICH STIPULATE NON-FIXED PAYMENTS BASED ON MEETING CRITERIA COMPRISED OF VARIOUS QUALITY AND PRODUCTIVITY MARKERS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• BROWN UNIVERSITY HEALTH PHARMACY LLC

  PHARMACEUTICAL SALES · RI · income $139,012,905 · assets $39,366,110

  Directly controlled by RHODE ISLAND HOSPITAL

• RADIOSURGERY CENTER OF RHODE ISLAND LLC

  RADIOSURGERY · RI · income $6,909,735 · assets $2,977,095

  Directly controlled by RHODE ISLAND HOSPITAL

Related partnerships

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

• BROWN UNIVERSITY HEALTH ALLIANCE LLC

  N/A · ACO · RI · share of income $0 · share of assets $0

  Directly controlled by NA

Related corporations and trusts

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

• BROWN UNIVERSITY HEALTH MSO INC

  C CORPORATION · MGMNT SVCS · RI · 0% owned · share of income $0 · share of assets $0

  Directly controlled by BROWN UNIV HEALTH

• BROWN UNIVERSITY HEALTH RISK SERVICES

  C CORPORATION · RISK MGMNT · RI · 0% owned · share of income $0 · share of assets $0

  Directly controlled by BROWN UNIV HEALTH

• VNA TECHNICARE INC (DBA BROWN HEALTH HOME MEDICAL)

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

  Directly controlled by THE MIRIAM HOSPITAL

• CHARITABLE TRUST (1)

  PHILANTHROPY · RI

  Directly controlled by NA