Rhode Island Hospital Foundation
Nonprofit profile at a glance
- EIN
- 050468736
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2022
- Location
- Providence, RI, USA
- Phone
- 4014446500
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $25,366,267
- Expenses
- $16,790,327
- Assets
- $86,169,595
- Liabilities
- $318,611
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
37 people listed
Executive titles in this filing
- Dean G Roye MD (President thru 6/24)
- Sarah Frost (President)
Highest reported compensation
- Peter K Markell (EVP & CFO): $1,505,315 total reported compensation
- Dean G Roye MD (President thru 6/24): $1,003,541 total reported compensation
- Sarah Frost (President): $814,484 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
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.
What it reported doing in 2024
Through the development and administration of its philanthropic activities, RIHF is able to transfer funds raised to 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 2025, the Foundation transferred the following to various HCH programs and capital projects: (1) $516,012 for the general purposes of treating children with cancer as determined by the Director of Hematology/Oncology; (2) $434,208 to support the Pediatric Pulmonary Program; and (3) $446,731 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. The goals of HCH's Child Life Program are to: (a) encourage children and adolescents to maintain a sense of independence, self-esteem, and control; (b) reduce the potential stress associated with the medical experience; (c) reestablish family routines; and (d) listen and advocate for family-centered care.
Operating model
- Revenue model
- Donor-supported. 92% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 64
- Transparency & Controls: 71
- Accountability: 87
- Sustainability: 88
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 63.6%; rating input score 64
- Program expense ratio: 78.3%; rating input score 78
- Fundraising efficiency: $6.09 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 40th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 93.5%; rating input score 94; 26th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 33.8%; rating input score 90; 90th percentile among comparable filings
- Total-asset coverage ratio: 5.13; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
- Officer compensation ratio: 1.9%; rating input score 77; 77th percentile among comparable filings
Growth
- Program expense growth: 5.7% per year; rating input score 100; 47th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 30th percentile among comparable filings
- Asset growth: 3.2% per year; rating input score 100; 24th percentile among comparable filings
Details
- Where the money goes: 63.6% of revenue deployed · 78.3% of spending went to programs
- Governance: 29 of 31 board members independent · 7 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $13.1M in reported program spending
- Leadership: top reported pay $1.5M · 37 people listed · 0 of 6 pay-setting controls reported
- Consistency: 48 of 48 current checks pass
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 42 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 25/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.