Lifespan Foundation Brown Universi… - 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

1996

Legal Domicile

Principal Officer

Nicholas J Dominck Jr

Phone

4014446500

Tax Period

2023-10-01 to 2024-09-30

Lifespan Foundation Brown University Health Foundation, founded in 1996, is a small nonprofit in the Health Care sector that reported $983K in total revenue in fiscal year 2023. Revenue surged 42% from the prior year, signaling strong growth momentum. Expenses of $1.6M exceeded revenue, resulting in a 66% operating deficit.

Mission

BUHF operates 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. (see Sched.O)

Program Service Accomplishments

Program 1

Expenses: $953,324

In fiscal year 2024, BUHF transferred $603,324 to RIH to be used for cancer support, and well as support various patient care enhancement projects and research in the Brown University Health Cancer...

Program 2

Expenses: $500,000

In fiscal year 2024, BUHF transferred $500,000 to Rhode Island Hospital (RIH), to provide increased opportunities for Black, Indigenous, and people of color (BIPOC) to have greater access to...

In fiscal year 2024, BUHF transferred $500,000 to Rhode Island Hospital (RIH), to provide increased opportunities for Black, Indigenous, and people of color (BIPOC) to have greater access to employment, job training, healthcare professional certification, advanced education, and leadership development.

Program 3

Expenses: $91,329

BUHF and Brown have an agreement pursuant to which each entity maintains an endowment fund representing 50% of an endowment gift, the income from which supports a diagnostic imaging shared chair. The agreement specifies a spending rate which is applied to the trailing three-year average fair value of the endowment fund to arrive at an amount used to support the named professorship. Payments distributing this amount, which are made by BUHF to Brown on a quarterly basis, totaled $91,329 in fiscal year 2024.

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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 $338,650

Program Service Revenue $0

Investment Income $644,671

Other Revenue $0

TOTAL REVENUE $983,321

Expense Breakdown

Grants Paid $1,635,305

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,635,305

Other Expenses $0

TOTAL EXPENSES $1,635,305

Year-over-Year Comparison

	2023	2022	Change
Revenue	$983,321	$694,330	+0.4%
Expenses	$1,635,305	$3,252,639	-0.5%
Net Income	$-651,984	$-2,558,309	-0.7%

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	0.05	Officer Director	$0	$151,085	$1,077,941
Eva Greenwood	Treasurer	0.10	Officer Director	$0	$87,891	$737,076
Nicholas J Dominck Jr	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	$983,321	$1,635,305	$12,282,835	$-651,984
2023	$694,330	$3,252,639	$12,434,369	$-2,558,309
2022	$318,806	$1,808,534	$14,665,560	$-1,489,728
2021	$10,721,254	$344,776	$16,900,546	$10,376,478
2020	$590,944	$439,488	$5,760,923	$151,456
2019	$355,765	$298,560	$5,409,181	$57,205
2018	$355,688	$272,972	$5,458,171	$82,716

Lifespan Foundation Brown University Health Foundation