Rhode Island Hospital Foundation

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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

1992

Legal Domicile

Principal Officer

Robert K Vincent

Phone

4014446500

Tax Period

2023-10-01 to 2024-09-30

Rhode Island Hospital Foundation, founded in 1992, is a mid-sized nonprofit in the Health Care sector that reported $18.2M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $16.7M left a modest 8% surplus.

Mission

To be operated exclusively for charitable, scientific, and educational purposes, and more specifically, for the purpose of supporting and otherwise benefiting and being responsive to the needs of Brown University Health and its affiliates.

Program Service Accomplishments

Program 1

Expenses: $8,080,538

During fiscal year 2024, RIHF made transfers of $2,018,859 to provide the resources to support the design and construction costs of refurbishing and updating the RIH Lobby. Other significant...

During fiscal year 2024, RIHF made transfers of $2,018,859 to provide the resources to support the design and construction costs of refurbishing and updating the RIH Lobby. Other significant philanthropic transfers to RIH were as follows: (1) $808,298 to RIH's Next Generation of Cancer Research Scholars Program supporting BIPOC education and treatment; (2) $790,193 to provide resources to support critical components necessary to create an environment to treat and unravel mysteries of the brain and nervous system; (3) $706,601 to support renovations and expansion of cancer research lab space and classrooms on Coro's third floor; and(4) $700,000 to support renovations and improvements in the MRI Department.

Program 2

Expenses: $4,901,254

Through the development and administration of its philanthropic activities, Rhode Island Hospital Foundation (RIHF) is able to transfer funds raised to Rhode Island Hospital (RIH) to support its...

Through the development and administration of its philanthropic activities, Rhode Island Hospital Foundation (RIHF) is able to transfer funds raised to Rhode Island Hospital (RIH) to support its mission and purposes, which in turn benefits the Rhode Island community. Most notably, RIHF provides philanthropic support to various programs at Hasbro Children's Hospital (HCH), the pediatric division of RIH. In fiscal year 2024, the Foundation transferred the following to various HCH programs and capital projects: $899,660 in support of the Child Life Program, which offers pediatric patients and their families opportunities for recreation, creativity, and diversion to provide a sense of normalcy during their hospital stay. (Continued in Schedule O)

Program 3

Expenses: $483,738

RIHF remitted $483,738 of endowment earnings to The Warren Alpert Medical School of Brown University in fiscal year 2024 in support of shared chairs in cardiothoracic surgery, orthopedics, urology...

RIHF remitted $483,738 of endowment earnings to The Warren Alpert Medical School of Brown University in fiscal year 2024 in support of shared chairs in cardiothoracic surgery, orthopedics, urology, emergency medicine, and oncology.

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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 $12,889,125

Program Service Revenue $0

Investment Income $5,599,201

Other Revenue $-283,531

TOTAL REVENUE $18,204,795

Expense Breakdown

Grants Paid $13,468,530

Salaries & Benefits $0

Fundraising Expenses $3,139,429

Program Expenses $13,468,530

Other Expenses $3,129,761

TOTAL EXPENSES $16,745,619

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,204,795	$15,408,248	+0.2%
Expenses	$16,745,619	$14,430,872	+0.2%
Net Income	$1,459,176	$977,376	+0.5%

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

Employees

N/A

Volunteers

315

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

$2,210,910

Total Directors

$797,371

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
G Dean Roye MD	Pres.- 6/24	1.00	Officer	$0	$147,891	$998,340
Phyllis A Dennery MD	Trustee	0.50	Director	$0	$47,162	$797,371
Sheryl Amaral	Trustee	2.00	Director	$0	$0	$0
Roger N Begin	Trustee	0.50	Director	$0	$0	$0
Paul Busby	Trustee	4.00	Director	$0	$0	$0
Anthony Calandrelli	Secretary	1.00	Officer Director	$0	$0	$0
James L Carr Jr	Trustee	2.00	Director	$0	$0	$0
Denise Chakoian	Trustee	5.00	Director	$0	$0	$0
Wayne Charness	Trustee	1.00	Director	$0	$0	$0
Ellen Collis	Treas- 12/23	0.00	Officer Director	$0	$0	$0
Michael D'Ambra	Trustee	0.15	Director	$0	$0	$0
Sandy Delli-Carpini	Trustee	0.10	Director	$0	$0	$0
Bradford S Dimeo	Trustee	1.00	Director	$0	$0	$0
Edwin G Fischer MD	Trustee	1.00	Director	$0	$0	$0
Sarah Frost	President	0.10	Officer Director	$0	$0	$0
Ralph V Fleming Jr	Trustee	0.00	Director	$0	$0	$0
Kristen Haffenreffer-Moran	Trustee	1.00	Director	$0	$0	$0
Elizabeth Huber	Vice Chair	0.25	Officer Director	$0	$0	$0
Jerry Hyman	Trustee	1.00	Director	$0	$0	$0
Mahesh V Jayaraman MD	Trustee	0.50	Director	$0	$0	$0
Dolph Johnson	Trustee	0.25	Director	$0	$0	$0
Keith D Kelly	Trustee	1.00	Director	$0	$0	$0
Scott B Laurans	Trustee	0.00	Director	$0	$0	$0
Thomas A Lawson	Trustee	0.00	Director	$0	$0	$0
Francois I Luks MD PhD	Trustee	1.00	Director	$0	$0	$0
Robert Manning	Treasurer	0.25	Officer Director	$0	$0	$0
Donna M Paolino Coia	Trustee	0.10	Director	$0	$0	$0
Holly Paras	Trustee	0.00	Director	$0	$0	$0
Elizabeth J Perik	Trustee	1.00	Director	$0	$0	$0
James A Procaccianti	Trustee	10.00	Director	$0	$0	$0
Nicholas J Rodriques	Trustee	5.00	Director	$0	$0	$0
Douglas Scala	Trustee	1.00	Director	$0	$0	$0
Anthony Thomas	Trustee	0.00	Director	$0	$0	$0
Melisa Verrechia	Trustee	3.00	Director	$0	$0	$0
Victor Vetters	Trustee	1.00	Director	$0	$0	$0
Robert K Vincent	Chairperson	5.00	Officer Director	$0	$0	$0

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	$18,204,795	$16,745,619	$76,098,578	$1,459,176
2023	$15,408,248	$14,430,872	$70,660,788	$977,376
2022	$16,978,703	$12,868,622	$66,839,907	$4,110,081
2021	$16,409,972	$19,338,117	$69,328,658	$-2,928,145
2020	$14,574,603	$18,327,894	$65,140,203	$-3,753,291
2019	$17,725,818	$13,990,787	$66,901,516	$3,735,031
2018	$16,151,250	$9,775,999	$64,659,560	$6,375,251