Overview
What is Rhode Island Hospital Foundation?
The Rhode Island Hospital Foundation (RIHF) is a charitable organization based in Providence, Rhode Island, with a mission to benefit the Rhode Island community by transferring raised funds to Rhode Island Hospital (RIH) and its subsidiaries, primarily Hasbro Children's Hospital (HCH). RIHF's primary focus includes supporting and enhancing programs and research initiatives at HCH through philanthropic funding since fiscal year 2022. This has totaled over $1.8 million for essential projects and modernization efforts. The Foundation's activities are dedicated to charitable, scientific, and educational purposes, with a strong commitment to meeting the needs of Lifespan Corporation and its affiliates.
Official website here: www.lifespan.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Rhode Island Hospital Foundation has earned an impressive Four-Star rating from Charity Navigator, reflecting strong accountability and finance practices. This high score is primarily based on a perfect accountability and finance score of 97%, indicating meticulous attention to financial management and transparency. The foundation's commitment to ethical governance is evident with 93% of its board members being independent, and it maintains robust policies regarding conflict of interest and whistleblower protections.
The foundation demonstrates effective fiscal responsibility, with a program expense ratio of 82.11%, which signifies that a significant portion of its funds is directed towards its mission-related programs. Additionally, its fundraising efficiency is commendable, with only $0.21 spent to raise each dollar, indicating a strong return on investment for donors. The organization also maintains a healthy working capital ratio, ensuring it can sustain its operations over the long term.
While the foundation's performance is commendable, the data does not indicate any specific areas for improvement or notable limitations. Overall, the Rhode Island Hospital Foundation appears to be a well-managed organization dedicated to its mission, making it a trustworthy option for potential donors looking to support a nonprofit with high accountability standards.
This AI summary has been generated from information found on Charity Navigator.
Is Rhode Island Hospital Foundation legitimate?
Rhode Island Hospital Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rhode Island Hospital Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $133,724
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lifespan.org
What is the mission statement of Rhode Island Hospital Foundation?
The Rhode Island Hospital Foundation functions exclusively for charitable, scientific, and educational purposes, with a primary focus on supporting and responding to the needs of Lifespan Corporation and its affiliates. Through its philanthropic activities, the Foundation transfers funds raised to various programs and capital projects within Rhode Island Hospital and its pediatric division, Hasbro Children's Hospital. In fiscal year 2022, the Foundation contributed $1,830,975 towards modernizing the hospital, growing essential programs, and advancing research vital to children and their families through the "Every Child, Every Day Campaign." This campaign has raised nearly $40.6 million since its inception six years ago.
Official website here: www.lifespan.org
Who is the CEO of Rhode Island Hospital Foundation?
Robert K Vincent is the Chairperson of Rhode Island Hospital Foundation.
Official website here: www.lifespan.org
What is the revenue of Rhode Island Hospital Foundation?
Rhode Island Hospital Foundation's revenue in 2022 was $16,978,703.
Official website here: www.lifespan.org
Who are the executives of Rhode Island Hospital Foundation and what are their salaries?
There 315 volunteers at Rhode Island Hospital Foundation.
Here are 38 key members and their salaries:
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Official website here: www.lifespan.org
Where can I find the form 990 for Rhode Island Hospital Foundation?
Rhode Island Hospital Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lifespan.org
Learn more at the official website: www.lifespan.org
Mission Statement of Rhode Island Hospital Foundation
Rhode Island Hospital Foundation, a charitable organization, is dedicated to advancing causes that benefit and support Lifespan Corporation and its affiliates. Operating under the umbrella of charitable, scientific, and educational pursuits, the Foundation's primary goal is to be responsive to the needs of Lifespan and its affiliates, as outlined in Schedule O.
In practice, the Foundation carries out its mission by overseeing philanthropic activities and facilitating the transfer of funds to Rhode Island Hospital and its programs. One of the most significant areas of support is the pediatric division of Rhode Island Hospital, Hasbro Children's Hospital. Through various campaigns, such as the "Every Child, Every Day Campaign," Rhode Island Hospital Foundation raises substantial funds to modernize facilities and expand essential programs and research initiatives that cater to children and their families.
As of fiscal year 2022, the Foundation has donated approximately $1,830,975 to Hasbro Children's Hospital from the "Every Child, Every Day Campaign," which has accumulated close to $40.6 million since its inception six years ago. These funds contribute to the improvement of health care and research endeavors that significantly impact children in the community.
By facilitating the exchange of resources between the Foundation and the organizations it supports, Rhode Island Hospital Foundation plays a crucial role in enhancing the capabilities and reach of its beneficiaries, ultimately contributing to the betterment of the wider community.
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Impact
October, 2024
Rhode Island Hospital Foundation makes a significant impact by supporting the healthcare needs of the Rhode Island community through its philanthropic efforts. By channeling funds raised into Rhode Island Hospital, the Foundation aims to enhance medical services and resources available to patients, particularly at Hasbro Children's Hospital, the pediatric division of Rhode Island Hospital.
In the fiscal year 2022, the Foundation demonstrated its commitment to children's health by transferring nearly $1.8 million from the "Every Child, Every Day Campaign," which has raised about $40.6 million over the past six years. This funding is directed towards modernizing facilities and growing essential programs and research initiatives vital to the well-being of children and their families. The Foundation’s focus on charitable and educational purposes directly benefits the community, ensuring that quality healthcare and innovative treatments are accessible to those who need them most.
This information is meant to be a general summary of Rhode Island Hospital Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$1,490,885
- Gross Receipts: $41,853,316
Assets and Liabilities:
- Total Assets: $66,839,907
- Total Liabilities: $389,824
- Net Assets: $66,450,083
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Organization Details
Founding Year
1992
Phone
(401) 444-6500Principal Officer
Robert K Vincent
Main Address
167 Point Street, Providence, RI, 02903
Website
www.lifespan.orgNTEE Category
Code: E110 - Health
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