RONALD MCDONALD HOUSE OF PROVIDENCE INC

EIN: 050434218 501(c)(3)

PROVIDENCE, RI

Total Revenue
$1,209,001
Total Expenses
$1,748,018
Total Assets
$10,126,742
Net Assets
$9,199,939
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
RI
Principal Officer
MICHAEL FANTOM CEO
Phone
4012744447
Tax Period
2018-01-01 to 2018-12-31

RONALD MCDONALD HOUSE OF PROVIDENCE INC, founded in 1989, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2018. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $1.7M exceeded revenue, resulting in a 45% operating deficit.

Mission

TO CARE FOR FAMILIES OF CHILDREN WITH COMPLEX MEDICAL NEEDS BY PROVIDING COMFORT, COMPASSION AND COMMUNITY. RONALD MCDONALD HOUSE OF PROVIDENCE KEEPS THE FAMILIES TOGETHER.

Program Service Accomplishments

Program 1
Expenses: $927,813 Revenue: $0

Other, FOR HISTORY. OUR ONE HOUSE AND FAMILY ROOM PROVIDE A HOME FOR CRITICALLY ILL CHILDREN. THE HOUSE IS LOCATED ACROSS THE STREET FROM WOMEN & INFANTS HOSPITAL, HASBRO CHILDREN'S HOSPITAL AND...

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Other, FOR HISTORY. OUR ONE HOUSE AND FAMILY ROOM PROVIDE A HOME FOR CRITICALLY ILL CHILDREN. THE HOUSE IS LOCATED ACROSS THE STREET FROM WOMEN & INFANTS HOSPITAL, HASBRO CHILDREN'S HOSPITAL AND RHODE ISLAND HOSPITAL. THE FAMILY ROOM IS LOCATED INSIDE HASBRO CHILDREN'S HOSPITAL. THE HOUSE ALLOWS FAMILIES TO EAT, SLEEP, AND FIND THE EMOTIONAL SUPPORT THEY NEED JUST STEPS AWAY FROM WHERE THEIR CHILD IS BEING TREATED. WHILE THE HOUSE SUGGESTS A $10 PER NIGHT CONTRIBUTION, NO FAMILY IS EVER TURNED AWAY IF THEY ARE UNABLE TO PAY. RMH OFFERS THEM CARE AND COMFORT DURING THEIR HOURS OF GREATEST NEED. OUR TWO CORE PROGRAMS ARE THE RONALD MCDONALD HOUSE (RMH) AND RONALD MCDONALD FAMILY ROOMS (RMFR). BOTH ARE DESIGNED TO KEEP FAMILIES CLOSE DURING HOSPITALIZATIONS. RESEARCH SHOWS THAT A FAMILY PRESENCE IN THE HOSPITAL HELPS CHILDREN HEAL FASTER. OUR PROGRAMS ARE UNIQUE IN THAT THEY ALLOW FOR FAMILIES TO SPEND ADDITIONAL TIME WITH A SICK CHILD, HELP EASE FINANCIAL BURDENS, PROVIDE A SENSE OF NORMALCY TO FAMILIES, AND KEEP FAMILIES TOGETHER DURING TIMES OF MEDICAL CRISIS. A RONALD MCDONALD HOUSE PROVIDES A TEMPORARY HOME FOR FAMILIES WITH CRITICALLY ILL CHILDREN. THE PROVIDENCE HOUSE HAS 28 BEDROOMS, A KITCHEN, A LIVING ROOM, A DINING AREA, A CHILDREN'S PLAY AREA, AND LAUNDRY FACILITIES. IN ADDITION TO ITS PROXIMITY TO MEDICAL FACILITIES, RMH PROVIDENCE OFFERS SOMETHING EVEN MORE IMPORTANT: THE SUPPORT THAT COMES FROM BEING ABLE TO TALK AND SHARE CONCERNS WITH OTHER PARENTS AND FAMILIES GOING THROUGH SIMILARLY DIFFICULT SITUATIONS. IN 2016, RMH PROVIDENCE EXPANDED, ADDING 10 ADDITIONAL BEDROOMS AND A LARGER DAY USE FLOOR. SOME CHILDREN TRAVEL GREAT DISTANCES TO GET THE MEDICAL ATTENTION THEY NEED. TREATMENT MAY LAST ONE DAY, ONE MONTH, ONE YEAR, OR EVEN LONGER. FOR THE FAMILIES OF THESE CHILDREN, ACCOMMODATIONS CAN BE HARD TO COME BY. THEIR OPTIONS ARE OFTEN LIMITED TO COSTLY HOTELS OR UNCOMFORTABLE HOSPITAL CHAIRS. TO FULFILL ITS MISSION, THE HOUSE PROVIDES SHELTER TO THESE FAMILIES IN NEED. THE GOAL OF THIS NONPROFIT ORGANIZATION IS TO MAKE A DIFFICULT TIME IN AN UNFAMILIAR PLACE AS NORMAL AND COMFORTABLE AS POSSIBLE FOR GUESTS GOING THROUGH A STRESSFUL TIME IN THEIR LIVES. RONALD MCDONALD FAMILY ROOMS BRING THE WARMTH AND COMFORT OF A HOUSE INTO THE HOSPITAL SETTING AND IS LOCATED STEPS FROM THE PEDIATRIC UNIT. AMENITIES INCLUDE A KITCHENETTE, A LAUNDRY FACILITY, COMPUTERS AND A COMFORTABLE PLACE FOR ADULT FAMILIES TO RELAX. RMH PROVIDENCE CURRENTLY MANAGES ONE FAMILY ROOM AT HASBRO CHILDREN'S HOSPITAL IN PROVIDENCE, RI.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $1,074,209
Program Service Revenue $20,833
Investment Income $154,904
Other Revenue $-40,945
TOTAL REVENUE $1,209,001

Expense Breakdown

Grants Paid $0
Salaries & Benefits $860,471
Fundraising Expenses $468,329
Program Expenses $927,813
Other Expenses $719,147
TOTAL EXPENSES $1,748,018

Year-over-Year Comparison

2018 2017 Change
Revenue $1,209,001 $1,575,025 -0.2%
Expenses $1,748,018 $1,617,037 +0.1%
Net Income $-539,017 $-42,012 +11.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
13
Volunteers
160

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$183,427
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANA GINESTET DIRECTOR 2.00
Director
$0 $0 $0
DAVID F DUNCAN DIRECTOR 2.00
Director
$0 $0 $0
FRANCOIS LUKS MD DIRECTOR 2.00
Director
$0 $0 $0
BRENDAN MCCARTHY DIRECTOR 2.00
Director
$0 $0 $0
DAVID M NEWELL DIRECTOR 2.00
Director
$0 $0 $0
JOHN PUNIELLO DIRECTOR 2.00
Director
$0 $0 $0
SCOTT STEPHENS DIRECTOR 2.00
Director
$0 $0 $0
TRACEY WALLACE DIRECTOR 2.00
Director
$0 $0 $0
JAY R MARSHALL PRESIDENT 2.00
Officer Director
$0 $0 $0
JOANNE CHANG TREASURER 3.00
Officer Director
$0 $0 $0
ROBERT J DURANT JR VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
KEITH R WATSON CFA CFP SECRETARY 3.00
Officer Director
$0 $0 $0
MICHAEL FANTOM CHIEF EXECUTIVE OFFICER 45.00
Officer
$150,590 $32,837 $183,427
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2018 $1,209,001 $1,748,018 $10,126,742 $-539,017
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