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Nonprofiteer
← RIH VENTURES

Form 990 for tax year 2022

Filed by RIH VENTURES.

Totals

Total revenue
$8,950,047
Total expenses
$8,950,047
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,854,339
Investment income
$0
Other revenue
$1,095,708
Total assets, end of year
$3,475,518
Total liabilities, end of year
$318,321
Net assets or fund balances, end of year
$3,157,197
Program services expenses (Part IX)
$8,950,047
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$8,950,047

Program services were 100.0% 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.

  • 2a · Program service revenue: Parking Revenue

    total $1,056,713 · related or exempt $1,056,713

  • 2b · Program service revenue: Phlebotomy Revenue

    total $6,797,626 · related or exempt $6,797,626

  • 3 · Investment income

    total $0

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

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Distribution from RIH

    total $1,038,731 · excluded $1,038,731

  • 11b · Other revenue: Distribution from W&I Hospital

    total $56,977 · excluded $56,977

  • 11e · Other revenue, total

    $1,095,708

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 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 $5,724,138 · program services $5,724,138

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $5,442 · program services $5,442

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $677,245 · program services $677,245

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $163,331 · program services $163,331

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,670,298 · program services $1,670,298

  • 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 $378,980 · program services $378,980

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Maintenance Contracts

    total $262,821 · program services $262,821

  • 24b · Other expenses: Purchased Services

    total $59,807 · program services $59,807

  • 24c · Other expenses: All Other Expenses

    total $7,175 · program services $7,175

  • 24d · Other expenses: Printing and Publications

    total $810 · program services $810

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $116 · end of year $8

  • 2 · Savings and temporary cash investments

    beginning of year $884 · end of year $992

  • 3 · Pledges and grants receivable

    end of year $0

  • 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

    $13,195,273

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

    $9,751,433

  • 10c · Land, buildings and equipment, net

    beginning of year $3,303,521 · end of year $3,443,840

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $19,770 · end of year $30,678

  • 17 · Accounts payable and accrued expenses

    beginning of year $340,791 · end of year $318,321

  • 27 · Net assets without donor restrictions

    beginning of year $2,983,500 · end of year $3,157,197

Mission and programs · 2022

Mission

RIHV promotes the charitable, scientific, and educational purposes of Lifespan Corporation and each of the corporations and other entities that may be directly or indirectly affiliated with Lifespan Corporation.

Activities or mission (Part I)

RIH Ventures (RIHV) provides phlebotomy services which facilitate laboratory specimen testing for Rhode Island Hospital (RIH) and other Lifespan-affiliated hospitals, and also operates parking facilities that serve patients, visitors, and staff of RIH.

  • Phlebotomy services performed by RIHV provide a convenient means by which individuals may present themselves to have a blood sample drawn for further diagnostic testing by Lifespan affiliates. Laboratory services are available at locations throughout Rhode Island and southeastern Massachusetts, each offering a complete range of the most advanced laboratory tests. Because appointments are not needed at Lifespan Laboratories, location and time are always at the convenience of the patient. All laboratories are linked to Lifespan Hospitals and offer the added convenience of the most advanced patient data management system in the area.

    Expenses $6,797,626 · Revenue $6,797,626

  • RIHV provides safe, secure, and conveniently located parking facilities to RIH's patients, visitors, and staff. The 60-acre RIH campus accommodates more than 10,000 vehicles every day, providing expedient access to all buildings. All patients discharged are provided with one free exit from the parking lots. Free parking is provided to both emergency department patients and patients who receive medical treatment covered by RIte Care and Medicaid. In addition, valet parking and shuttle service are available to qualifying patients without charge in designated areas of the RIH campus. The parking program of RIH Ventures supports RIH's mission by providing practical access to health services for people in the community, as well as simplifying the means of entry to various RIH facilities for residents, interns, fellows, and researchers who train on the RIH campus. (see Schedule O)

    Expenses $2,152,421 · Revenue $1,056,713

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

Listed in Part VII

  • Timothy J Babineau

    Fmr. Trustee

    Total calculated
    $6,836,842
    From this org
    $0
    From related orgs
    $6,453,503
    Other
    $383,339
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    not reported + $1,010,777 related
    Bonus
    not reported + $3,000,000 related
    Other
    not reported + $2,442,726 related
    Deferred
    not reported + $358,564 related
    Nontaxable benefits
    not reported + $24,775 related
    Filer's total
    not reported + $6,836,842 related

  • Cathy E Duquette

    Fmr. Trustee

    Total calculated
    $892,458
    From this org
    $0
    From related orgs
    $860,733
    Other
    $31,725
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    not reported + $326,880 related
    Bonus
    not reported
    Other
    not reported + $533,853 related
    Deferred
    not reported + $18,300 related
    Nontaxable benefits
    not reported + $13,425 related
    Filer's total
    not reported + $892,458 related

  • Paul J Adler

    Secretary

    Total calculated
    $889,150
    From this org
    $0
    From related orgs
    $744,106
    Other
    $145,044
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    not reported + $616,787 related
    Bonus
    not reported
    Other
    not reported + $127,319 related
    Deferred
    not reported + $116,284 related
    Nontaxable benefits
    not reported + $28,760 related
    Filer's total
    not reported + $889,150 related

  • David A Kirshner

    Treas.- 11/22

    Total calculated
    $877,827
    From this org
    $0
    From related orgs
    $857,218
    Other
    $20,609
    Hours/week
    2 + 38 related

    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

  • Nicholas P Dominick

    President

    Total calculated
    $514,790
    From this org
    $0
    From related orgs
    $420,990
    Other
    $93,800
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    not reported + $341,550 related
    Bonus
    not reported
    Other
    not reported + $79,440 related
    Deferred
    not reported + $73,267 related
    Nontaxable benefits
    not reported + $20,533 related
    Filer's total
    not reported + $514,790 related

  • Arthur J Sampson

    Trustee- 1/23

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

    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

  • Eva Greenwood

    Treasurer

    Total calculated
    $233,888
    From this org
    $0
    From related orgs
    $198,973
    Other
    $34,915
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    not reported + $134,109 related
    Bonus
    not reported + $50,000 related
    Other
    not reported + $14,864 related
    Deferred
    not reported + $27,186 related
    Nontaxable benefits
    not reported + $7,729 related
    Filer's total
    not reported + $233,888 related

  • John Fernandez

    Trustee

    Total calculated
    $0
    Hours/week
    0.1 + 39.9 related

  • Peter K Markell

    EVP & CFO

    Total calculated
    $0
    Hours/week
    0

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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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

No itemized grants to organizations 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.

  • 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 · Mgmnt Svcs · RI

    Directly controlled by Lifespan Corp

  • Lifespan Risk Services Inc

    C · Risk Mgmnt · RI

    Directly controlled by Lifespan Corp

  • VNA Technicare Inc

    C · 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
202412279349302286

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