RIH Ventures dba Lifespan Laborato… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

Nicholas P Dominick

Phone

4014444000

Tax Period

2023-10-01 to 2024-09-30

RIH Ventures dba Lifespan Laboratories, founded in 1989, is a community nonprofit that reported $9.8M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $7,478,564 Revenue: $7,478,564

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 Brown Health affiliates...

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 Brown Health 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 Brown Health Laboratories, location and time are always at the convenience of the patient. All laboratories are linked to Brown Health Hospitals and offer the added convenience of the most advanced patient data management system in the area.

Program 2

Expenses: $2,134,524 Revenue: $2,319,970

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...

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)

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,798,533

Investment Income $0

Other Revenue $0

TOTAL REVENUE $9,798,533

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $9,613,088

Other Expenses $9,613,088

TOTAL EXPENSES $9,613,088

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,798,533	$8,950,047	+0.1%
Expenses	$9,613,088	$8,950,047	+0.1%
Net Income	$185,445	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

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

$3,650,709

Total Directors

$2,438,139

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter K Markell	EVP & CFO	0.10	Officer	$0	$18,928	$1,212,570
Paul J Adler	Secretary	0.25	Officer Director	$0	$151,085	$1,077,941
Eva Greenwood	Treasurer	0.10	Officer Director	$0	$87,891	$737,076
Nicholas P Dominick	President	0.10	Officer Director	$0	$99,888	$623,122

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
2024	$9,798,533	$9,613,088	$3,602,696	$185,445
2023	$8,950,047	$8,950,047	$3,475,518	No data
2022	$7,978,363	$7,978,363	$3,324,291	No data
2021	$7,923,019	$7,923,019	$3,760,702	No data
2020	$8,182,259	$8,182,259	$8,960,372	No data
2019	$8,776,759	$8,776,759	$8,995,676	No data
2018	$8,292,364	$8,292,364	$9,143,696	No data

RIH Ventures dba Lifespan Laboratories