Lifespan Corporation (EIN 222861978) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Phone

4014443500

Tax Period

2023-10-01 to 2024-09-30

Lifespan Corporation, founded in 1994, is a major nonprofit in the Health Care sector that reported $352.6M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

Delivering health with care while maintaining a comprehensive, integrated, academic health system. Brown University Health provides support services to its affiliates to assure the delivery of high quality health services, medical education, and biomedical research.

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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 $10,000,000

Program Service Revenue $336,854,626

Investment Income $5,717,997

Other Revenue $0

TOTAL REVENUE $352,572,623

Expense Breakdown

Grants Paid $230,356

Salaries & Benefits $177,365,935

Fundraising Expenses $0

Program Expenses $359,263,520

Other Expenses $181,667,229

TOTAL EXPENSES $359,263,520

Year-over-Year Comparison

	2023	2022	Change
Revenue	$352,572,623	$302,231,899	+0.2%
Expenses	$359,263,520	$294,759,300	+0.2%
Net Income	$-6,690,897	$7,472,599	-1.9%

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

1239

Volunteers

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

$5,483,709

Total Directors

$4,165,407

Key Employees

$1,392,266

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Alan H Litwin	Vice Chair	4.0	Officer Director	$0	$0	$0
John Fernandez	President & CEO	30.0	Officer Director	$2,148,746	$307,376	$2,456,122
Lawrence A Aubin Sr	Chair	5.0	Officer Director	$0	$0	$0
Peter Capodilupo	Vice Chair	3.0	Officer Director	$0	$0	$0
Angel Taveras	Director (as of 12/23)	1.0	Director	$0	$0	$0
Christoper Cocks	Director	1.0	Director	$0	$0	$0
Edward D Feldstein Esq	Director	0.5	Director	$0	$0	$0
Emanuel Barrows	Director	1.5	Director	$0	$0	$0
Jane Williams PhD RN	Director (Thru 12/23)	5.0	Director	$0	$0	$0
Janet Robinson	Director	2.0	Director	$0	$0	$0
Lawrence B Sadwin	Director	3.0	Director	$0	$0	$0
Martha Mainiero MD	Director	0.5	Director	$0	$0	$0
Michael L Hanna	Director	2.0	Director	$0	$0	$0
Paula McNamara	Director	2.0	Director	$0	$0	$0
Phillip Kydd	Director	3.0	Director	$0	$0	$0
Roger N Begin	Director	2.0	Director	$0	$0	$0
Sarah T Dowling JD LLM	Director	10.0	Director	$0	$0	$0
Shivan Subramaniam	Director	4.3	Director	$0	$0	$0
Steven Pare	Director (Thru 12/23)	10.0	Director	$0	$0	$0
Ziya l Gokaslan MD	Director	2.0	Director	$0	$52,686	$1,709,285
Eva Greenwood	Treasurer	37.5	Officer	$649,185	$87,891	$737,076
Paul j Adler	Secretary	23.8	Officer	$926,856	$151,085	$1,077,941
Peter k Markell	EVP & CFO	45.0	Officer	$1,193,642	$18,928	$1,212,570
Cedric j Priebe	SVP- Chief Information Officer	40.0	Key Emp	$829,711	$111,671	$941,382
Kenneth E Wood	Chief Clinical Officer (Thru 4/23)	40.0	Key Emp	$420,214	$30,670	$450,884
Crista f Durand	President - Newport Hospital	40.0	Highest	$591,433	$118,424	$709,857
Henry t Sachs III MD	President - Emma Pendleton Bradley Hospital	40.0	Highest	$767,763	$29,458	$797,221
Maria p Ducharme	President - The Miriam Hospital	40.0	Highest	$690,464	$129,757	$820,221
Saul N Weingart MD	President - Rhode Island Hospital	40.0	Highest	$937,729	$359,560	$1,297,289
William Schmiedeknecht	SVP- HR	40.0	Highest	$656,591	$97,990	$754,581
Arthur j Sampson	Former Interim President/CEO	0.0		$87,962	$0	$87,962
David a Kirshner	Former Treasurer	0.0		$135,501	$0	$135,501
G Alan Kurose	Former Director	0.0		$0	$11,416	$604,763
Timothy j Babineau	Former President & CEO	0.0		$2,343,283	$1,336,393	$3,679,676
Todd A Conklin	Former EVP & COO	0.0		$116,826	$3,532	$120,358

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	$352,572,623	$359,263,520	$478,816,383	$-6,690,897
2023	$302,231,899	$294,759,300	$252,969,121	$7,472,599
2022	$285,097,737	$287,327,416	$234,961,621	$-2,229,679
2021	$281,124,527	$273,271,113	$256,655,537	$7,853,414
2020	$255,734,605	$239,971,511	$156,472,473	$15,763,094
2019	$240,445,480	$238,550,780	$105,528,055	$1,894,700
2018	$221,484,177	$201,300,414	$83,591,650	$20,183,763

Lifespan Corporation