Form 990 for tax year 2024

Totals

Total revenue

$816,989,164

Total expenses

$723,518,360

Contributions and grants received

$16,669,718

Grants paid

$269,102

Program service revenue

$727,629,930

Investment income

$37,171,375

Other revenue

$35,518,141

Total assets, end of year

$1,066,262,318

Total liabilities, end of year

$459,782,774

Net assets or fund balances, end of year

$606,479,544

Program services expenses (Part IX)

$619,657,806

Management and general expenses

$103,860,554

Fundraising expenses

$0

Program service expenses (Part III)

$619,657,806

Program services were 85.6% 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.

Mission and programs · 2024

• Patient Care: TMH offers expertise in cardiology, oncology, orthopedics, men's health, and minimally invasive surgery, and is home to the State's first Joint Commission- certified Stroke Center and robotic surgery program. Services and programs provided by TMH also include anesthesiology; general medicine; general surgery; psychiatry; emergency medicine; cardiovascular care; orthopedics; dermatology; nuclear cardiology; radiology; laboratory; renal dialysis; urology; gastroenterology; endocrinology; gynecology; nephrology; neurology; and ophthalmology. TMH is licensed to operate 247 acute care beds by the Rhode Island Department of Health. Notable medical accomplishments of TMH include performance of Rhode Island's first lung operation, first kidney transplant, and first aortic balloon valvuloplasty (a procedure to clear blocked heart valves). In 2025, TMH discharged 16,687 inpatients, logged more than 73,000 visits in its Emergency Department, and performed 12,378 inpatient and outpatient surgical procedures. Services provided in 2025 represent 69,832 inpatient days and more than 130,000 clinic visits. TMH is staffed by 1,298 privileged physicians, approximately 92 full-time house staff (medical school graduates), and a nursing staff of 927. In total, TMH employs more than 3,500 people. TMH is a major teaching affiliate of The Warren Alpert Medical School of Brown University, providing clinical rotations for residents. TMH provides full charity care for individuals at or below twice the federal poverty level, with a sliding scale for individuals up to three times the poverty level, as set by the Department of Health and Human Services. In addition, a substantial discount consistent with Medicare program reimbursement is offered to all other uninsured patients. TMH determines the costs associated with providing charity care by aggregating the applicable direct and indirect costs, including compensation and benefits, supplies, and other operating expenses, based on data from its costing system. The total cost, excluding medical education and research, incurred by TMH to provide charity care amounted to $14,176,405 in fiscal 2025. Charges forgone, based on established rates, amounted to $37,514,988. TMH substantially subsidized various health services including the following programs: adult psychiatry, tuberculosis, and certain other specialty services at a net cost of $4,997,246 in fiscal year 2025. TMH also provides numerous other services to the community for which charges are not generated. These services include certain emergency services, community health screenings for cardiac health, prostate cancer and other diseases, smoking cessation, immunization and nutrition programs, diabetes education, community health training programs, patient advocacy, foreign language translation, physician referral services, and charitable contributions. The net cost of these services amounted to $277,492 in fiscal year 2025. TMH subsidizes the cost of treating patients who receive government assistance where reimbursement is below cost. Medicaid is a means-tested health insurance program, jointly funded by state and federal governments. States administer the program and set rules for eligibility, benefits, and provider payments within broad federal guidelines. The program provides health care coverage to low-income children and families, pregnant women, long-term unemployed adults, seniors, and persons with disabilities. Eligibility is determined by a variety of factors, which include income relative to the federal poverty line, age and immigration status, and assets. TMH offers expertise in total joint replacement, minimally invasive and robotic surgery, and bariatric surgery, among many other specialties. The Leonard and Adele R. Decof Family Comprehensive Cancer Center at TMH brings together world-renowned physicians and a team of specialists from TMH, Rhode Island Hospital (RIH), and Newport Hospital (NH), forming a multidisciplinary team whose level of knowledge and experience are unparalleled in the State of Rhode Island. TMH, as a part of the Brown University Health Cancer Institute, provides state-of-the-art care for patients with cancer. Award-Winning Care: Through the years, TMH has received numerous distinctions and awards. TMH is one of an elite group of hospitals nationwide and internationally to achieve Magnet designation for nursing excellence six times from the American Nurses Credentialing Center (ANCC), with a current designation through 2025. This is the highest nursing credential, earned after an extensive application process is conducted every four years, in a hospital where nurses participate at all levels of care, making clinical and systems decisions to improve patient outcomes and experience. The Magnet Model promotes the critical role of nurses in achieving improved empirical outcomes through transformational leadership, structural empowerment, exemplary professional practice and new knowledge, innovations and improvements. A Magnet designated hospitals must possess high level nurse-to-patient ratios above non-magnet hospitals and demonstrate improved patient outcomes with superb nursing care for retaining this credential. TMH earned the "Top Hospital in Rhode Island" designation from US News & World Report for the 14th year in a row in its 2025 to 2026 report on the best hospitals in the country. The Miriam also ranked as the Top Hospital in the Providence metro area, which includes Providence, Pawtucket, Rhode Island, Fall River, Massachusetts, and New Bedford, Massachusetts. Additionally, US News & World Report awarded TMH a "high performing," rating for treatment of 8 conditions and adult specialty areas including hip and knee replacements, hip fractures, back surgery spinal fusion, colon cancer surgery, heart attack, stroke, pneumonia and chronic obstructive pulmonary disease. In 2025, TMH made Becker's 2025 list of 100 "Great Hospitals in America". The hospital has been recognized for delivering excellent clinical care, prioritizing patient safety, and driving innovation through research, education and continuous improvement. The Spine Center at TMH has earned an Advanced Certification in Spine Surgery (ACSS) from The Joint Commission, making it the first program in the region to earn an advanced certification, after a rigorous two-day survey by The Joint Commission resulting in "zero findings", making it an accredited Spine Center of Excellence. In 2025, the Total Joint Center at TMH continued to meet the rigorous performance standards of The Joint Commission when it earned its fifth Gold Seal of Approval for Advanced Total Hip and Knee Replacement. The Gold Seal is a symbol of quality that reflects a healthcare organization's commitment to providing safe and quality patient care. This recertification recognizes the ongoing commitment to the highest standards of care and outcomes by all the members of the team at the Total Joint Center. TMH has earned American College of Emergency Physicians (ACEP) Geriatric Emergency Department Accreditation (GEDA). This milestone reflects the ongoing commitment to providing high-quality, compassionate care, particularly for a growing geriatric population. This accreditation reflects The Miriam's implementation of evidence-based best practices in geriatric emergency care including specialized screening tools, careful prescribing to avoid high-risk medications, integration of palliative care and geriatric psychiatry consults, reduction in urinary catheter use, and improved access to transportation and transitional care services including pathways to both short- and long-term rehabilitation. TMH was named one of Avant-Garde Health's Healthcare Research All-Stars for 2025, placing it among the top one percent for orthopedic surgery research hospitals in the nation. Alan Daniels, MD, chief, division of spine surgery, and director, adult spinal deformity service, Rhode Island and The Miriam Hospitals, Eren O. Kuris, MD, spine surgeon, Bassel Diebo, MD, spine and scoliosis surgeon, and Brett D. Owens, MD, division chief, sports medicine were among the 2025 Avant Garde Health's Research All-Stars. The Healthcare Research All-Stars 2025 list recognizes top surgeons and hospitals across 22 specialties, including spine surgery and sports medicine. Top hospitals and surgeons are identified by procedural volumes, peer-reviewed publications, and publication weight. TMH Received Castle Connolly's Top Hospital 2025 award for excellence in cancer care (mastectomy) and gastroenterology and bariatrics (colon surgery). In the spring of 2025, TMH earned a Leapfrog Hospital Safety Grade of "A." The Leapfrog Group is a national nonprofit upholding the standard of patient safety in hospitals and ambulatory surgery centers. TMH received this national distinction for its achievements in prioritizing patient safety by protecting patients from preventable harm and errors.

  Expenses $533,762,908 · Grants $269,102 · Revenue $695,132,096

• Research: TMH has 428 research projects with total expenses of $57.4 million in fiscal year 2025 (106 investigators and 179 employees). TMH conducts extensive medical research and is in the forefront of biomedical health care delivery research and among the leaders nationally in National Institutes of Health programs. TMH also sponsors a significant level of these research activities. Federal support accounts for approximately 41% of all externally funded research at TMH. Researchers focus on clinical trials which investigate prevention and treatment of HIV/AIDS, obesity, cancer, diabetes, cardiac disease, and mental health concerns. TMH provided $2,481,000 in support of research activities in fiscal year 2025. TMH conducts extensive medical research and is in the forefront of biomedical health care delivery research and among the leaders nationally in National Institutes of Health programs. Major areas of research include: Cancer - TMH conducts clinical and behavioral research focusing on the many facets of cancer including prevention, education, and therapeutics, which are supported by the National Cancer Institute, the Cancer and Leukemia Group B, and the National Surgical Adjuvant Breast and Bowel Project. TMH is a participating hospital in the Brown University-sponsored Cancer Oncology Group. HIV/AIDS - The Brown Health/Tufts/Brown Center for AIDS Research (CFAR) is a joint research effort among Brown University and Tufts University and their affiliated hospitals and centers. It is one of 20 centers located at academic medical centers throughout the United States that are part of the national CFAR program of the National Institutes of Health. The program emphasizes the importance of interdisciplinary collaboration, especially between basic and clinical investigators, and also encourages training and mentoring of young investigators as well as an inclusion of women and minorities. As part of the CFAR, division researchers engage in clinical, basic, and translational research designed to improve the prevention and treatment of HIV/AIDS, with a major focus on women, racial and ethnic minorities, and individuals with substance abuse problems. At TMH, research focuses on the treatment and prevention of HIV infections, especially in hard-to-reach populations, both in the U.S. and abroad. There are international sites located in Cambodia, India, Kenya, Indonesia, The Philippines, and South Africa. TMH's TB Clinic performs research in the area of co-infections of HIV and tuberculosis. The Centers for Behavioral and Preventive Medicine aims to improve health through behavioral change and the integration of behavioral and biomedical science using clinical, community, and laboratory-based research. The Centers' research bridges biomedical, sociobehavioral, and population/public health scientific disciplines. Faculty members are committed to both basic research on discovering the mechanisms underlying behavioral factors in health and illness (e.g., examining the stress response among children and adolescents, neuroimaging of AIDS, and other medical conditions), and to applied research on the translation of these discoveries for clinical and community health improvement. Programs range from those that focus on primary prevention (e.g., promoting smoking cessation, preventing weight gain, increasing physical activity, and HIV/AIDS prevention) to improving the effectiveness of treatment and enhancing quality of life in populations such as cancer survivors and patients enrolled in cardiac rehabilitation programs.

  Expenses $57,410,773 · Revenue $57,408,292

• Medical Education: TMH provides the setting for and substantially supports medical education in various clinical training and nursing programs. TMH is designated as a major teaching affiliate of The Warren Alpert Medical School of Brown University. The total cost of direct medical education provided by TMH exceeded the reimbursement received from third-party payors by $21.9 million in fiscal year 2025. TMH provides the setting for and substantially supports medical education in various clinical training and nursing programs. The total cost of medical education provided by TMH exceeded the reimbursement received from third-party payors by $21,872,794 in 2025. In 1969, TMH and certain other Rhode Island hospitals entered into an affiliation agreement to participate jointly in various clinical training programs and research activities with Brown Medical School, renamed The Warren Alpert Medical School of Brown University (Brown). The goals of the partnership are to facilitate the expansion of joint educational and research programs to enable competition both clinically and academically. TMH participates in Brown programs in anesthesiology, internal medicine and medicine subspecialties, general surgery and surgical subspecialties, psychiatry, emergency medicine and emergency medicine subspecialties, orthopedics and orthopedic subspecialties, and dermatology. TMH provides stipends to residents and physician fellows while in training. In addition, TMH is a participating clinical training site for residents from other programs in anesthesiology, family medicine, internal medicine, emergency medicine, hematology/oncology, obstetrics/gynecology (OB/Gyn) and OB/Gyn subspecialties, dermatology, dermatopathology and pediatric pathology, otolaryngology, pediatric dentistry, podiatry, psychiatry and its subspecialties of forensic psychiatry, consult liaison psychiatry and geriatric psychiatry, orthopedics, rheumatology, and radiation oncology. Various departments and specialties at TMH serve as clinical sites for the physician assistant schools of Johnson & Wales University, Bryant University, and the Massachusetts College of Pharmacy. In addition, Behavioral Medicine at TMH, in collaboration with Brown, sponsors research and clinical psychology training programs for interns, postdoctoral fellows, and faculty trainees. With respect to nursing education, TMH has developed educational affiliations with the University of Rhode Island College of Nursing; Community College of Rhode Island (CCRI); Salve Regina University; Boston College; Yale University; Regis College; Simmons College; the University of Massachusetts campuses at Dartmouth, Boston, Amherst, and Worcester; Framingham State University; the University of Connecticut; The New England Institute of Technology; Northeastern University; Drexel University; Walden University; Georgetown University School of Nursing and Health Studies; Duke University School of Nursing; and the University of Pennsylvania, as well as other Schools of Nursing, pursuant to which their nursing students obtain clinical training and experience at TMH. TMH does not receive any compensation from the various schools for providing a clinical setting for the student nurse training. The Brown Health School of Medical Imaging collaborates with Rhode Island College in the following programs: diagnostic medical sonography; nuclear medicine technology; radiography; and magnetic resonance imaging. Students complete educational experiences at the Hospital, as well as other outpatient sites. TMH sponsors training programs for a variety of allied health care professionals, including required clinical and fieldwork experiences in physical, speech, and occupational therapy, which are provided to university students in each discipline through contracts with the various universities. TMH acts as a clinical training site for students from CCRI in its vascular and cardiology ultrasound programs and provides training experiences for both phlebotomy students and physical therapy assistant students. TMH serves as a clinical training site for students from The Nuclear Medicine Institute of the University of Findlay (Ohio) and has educational affiliations with the respiratory programs at both CCRI and The New England Institute of Technology. TMH's EEG Department provides clinical training to neurodiagnostic technology students from Laboure College (Massachusetts). TMH has clinical affiliations/student clinical training programs for pharmacy students provided through contracts with various colleges and universities. Most of the pharmacy students attend the University of Rhode Island, Massachusetts College of Pharmacy and Health Sciences, and Northeastern University. TMH has clinical social work student contracts with Rhode Island College, Boston University, Boston College, Smith College, Simmons College, and Bridgewater State University.

  Expenses $28,484,125 · Revenue $6,611,331

As filed on the 2024 return.

Listed in Part VII

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

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

• Brown University

  $269,102

  Shared Chair Support

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.

• Alternative Living Concepts Inc

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Bayberry Courts Inc

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Bradley Hospital Foundation

  3 · Philanthropic Activities · RI

  Directly controlled by Brown University Health

• Brown Health Medical Group

  3 · Physician Health Care Services · RI

  Directly controlled by Brown University Health

• Brown Health Medical Group of Massachusetts Inc

  3 · Physician Health Care Services · MA

  Directly controlled by Brown University Health

• Brown Health Medical Group Primary Care

  3 · Physician Health Care Services · RI

  Directly controlled by Brown University Health

• Brown University Health

  3 · Holding Company/Mgmnt Svcs · RI

• Brown University Health Foundation

  3 · Philanthropic Activities · RI

  Directly controlled by Brown University Health

• Brown University Health Massachusetts

  3 · Holding Company · RI

  Directly controlled by Brown University Health

• Capital City Community Centers Inc

  3 · Daycare Services · RI

  Directly controlled by Gateway Healthcare Inc

• Emma Pendleton Bradley Hospital

  3 · Pediatric Psychiatric Health Care Svcs. · RI

  Directly controlled by Brown University Health

• Families Reaching Into Each New Day Inc

  3 · Bereavement Services for Children · RI

  Directly controlled by Gateway Healthcare Inc

• Gateway Healthcare Inc

  3 · Subst. Abuse & Pysch. Health Care Svcs. · RI

  Directly controlled by Brown University Health

• Hospital Properties Inc

  4 · Property Management · RI

  Directly controlled by Brown University Health

• JM Apartments Inc

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• LJR Corporation

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Mill River Community Housing Corporation

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Morton Hospital

  3 · Health Care Services · MA

  Directly controlled by Brown University Health

• Newport Health Care Corporation

  3 · Holding Company/Mgmnt Svcs · RI

  Directly controlled by Brown University Health

• Newport Health Property Management

  3 · Property Management · RI

  Directly controlled by Newport Health Care Corporation

• Newport Hospital

  3 · Health Care Services · RI

  Directly controlled by Brown University Health

• Newport Hospital Foundation Inc

  3 · Philanthropic Activities · RI

  Directly controlled by Brown University Health

• NHCC Medical Associates Inc

  3 · Health Care Services · RI

  Directly controlled by Brown University Health

• Obed Apartments

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Pathways Inc

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Rhode Island Hospital

  3 · Health Care Services · RI

  Directly controlled by Brown University Health

• Rhode Island Hospital Foundation

  3 · Philanthropic Activities · RI

  Directly controlled by Brown University Health

• RIH Ventures

  3 · Parking Facilities/Phlebotomy Svcs · RI

  Directly controlled by Brown University Health

• Saint Annes Hospital

  3 · Health Care Services · MA

  Directly controlled by Brown University Health

• Shore Courts

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• The Autism Project

  3 · Services for Children with Autism · RI

  Directly controlled by Gateway Healthcare Inc

• The Bradley Schools

  3 · Educational Services · RI

  Directly controlled by Emma Pendleton Bradley Hospital

• The Miriam Hospital Foundation

  3 · Philanthropic Activities · RI

  Directly controlled by Brown University Health

• TLR Realty

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Wentworth Corporation

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

• Westerly Courts Inc

  3 · Housing for Elderly and Mentally Ill · RI

  Directly controlled by Gateway Healthcare Inc

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.

Provenance

Return type

form_990

Tax year

2024

Filed

17 August 2026

IRS schema version

2024v5.0

Source object

202642309349300104

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