Form 990, Part III, Line 4d: Other Program Services Description |
OTHER PROGRAM SERVICES 4: RIHF remitted $3,500 of grants to outside agencies in fiscal year 2022 in support of scholarships awards related to nursing and pre-med studies. |
Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et |
Scott B. Laurans, Trustee, and James A. Procaccianti, Trustee, have a business relationship. Mr. Laurans and Procaccianti are involved in investment related entities which are unrelated to RIHF or any Lifespan affiliates. |
Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder |
Lifespan Corporation is the sole member of RIHF. |
Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body |
The bylaws of RIHF confer certain reserved powers upon Lifespan to provide it with the means of effective oversight, coordination, and support of the system. Powers reserved to Lifespan include: to elect and remove trustees and to approve the election/removal of certain officers. At each annual meeting of RIHF's Board of Trustees, a list is compiled of the names of those persons selected to serve as Trustees of RIHF so that it can be approved and submitted to Lifespan for ratification and election. |
Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders |
Lifespan has the responsibility for planning, directing, and establishing policies intended to assure the development and delivery of quality health services on an integrated, cost-effective basis. Powers reserved to Lifespan, in addition to those noted above, include: to approve amendments of the Articles of Incorporation and Bylaws and other charter documents; to approve strategic plans; to approve investment policies and any capital or operating budgets or material non-budgeted expenditures; and to authorize incurrence or guaranty of material indebtedness. |
Form 990, Part VI, Line 11b: Form 990 Review Process |
The preparation and filing of the Form 990 and supporting schedules is the responsibility of the Executive Vice President & Chief Financial Officer (EVP/CFO) and Lifespan's Finance Department. The Form 990 is prepared by the accounting staff upon completion of Lifespan's annual independent audit and is reviewed by the Corporate Services Tax Compliance Manager, the Director of Finance, and the Vice President of Finance - Corporate Services. The draft Form 990 is then provided to the EVP/CFO for final management review. Prior to filing the return with the Internal Revenue Service, a copy of the entire form is sent to RIHF's Board of Trustees in advance of its next Board meeting, at which the EVP/CFO discusses the highlights of the Form. All questions and concerns of the members of the Board are addressed by the EVP/CFO and incorporated into the Form 990 when appropriate. Once the Form 990 is complete and ready to be filed, the members of the Board are notified via email that a copy of the final version of the Form 990 is accessible through the same password-protected website portal. The EVP/CFO is authorized to file the Form 990. |
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
Lifespan and the Lifespan Obligated Group, which consists of RIHF, Rhode Island Hospital, The Miriam Hospital, Emma Pendleton Bradley Hospital, and The Miriam Hospital Foundation, currently make their annual and quarterly consolidated financial statements available to the public via DAC (Digital Assurance Certification, LLC), a disclosure dissemination agent for issuers of tax-exempt bonds which electronically posts and transmits Lifespan's financial information to repositories and investors alike. In addition, copies of RIHF's Articles of Incorporation, Bylaws, and Conflict of Interest Policy are available upon request from the office of the Lifespan EVP/CFO, either in person or by mail. |
Other Changes In Net Assets Or Fund Balances - Other Increases |
Employee fund contributions = $11418 |
Form 990, Part I, Line 1 & Part III, Line 1: |
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 Lifespan Corporation and its affiliates, in particular, Rhode Island Hospital, a Rhode Island nonprofit hospital corporation. |
Form 990, Part III, Line 4a: |
In fiscal year 2022, the primary components of the $1,830,975 in transfers to HCH from the "Every Child, Every Day" campaign included: (a) $1,380,958 to support the Renovations Program (the Program) operated by the Pediatric Division of RIH, Hasbro Children's Hospital (HCH), and Emma Pendleton Bradley Hospital, a Lifespan-affiliated hospital providing for the psychiatric treatment of adolescents and children. Additionally in fiscal year 2022, RIHF transferred the following to other HCH programs:(1) $806,280 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; (2) $256,100 in salary support for The Tomorrow Fund Clinic; (3) $225,950 to HCH's Pediatric Compassionate Care Services fund to provide comprehensive/individualized services to meet child/family's psychosocial,developmental,cognitive, and culture needs; and (4) $205,363 for cancer research programs. |
Form 990, Part VI, Line 12c: |
Lifespan Corporation has a Conflict of Interest Policy that is applicable to all affiliates, including RIHF, and administered by Lifespan's Corporate Compliance Department as follows: Each designated person subject to Lifespan's conflict of interest policy is required to provide Lifespan with an initial disclosure statement and thereafter an annual statement attesting that: (i) the designated person has read and is familiar with this policy, and (ii) the designated person and, to the best of his/her knowledge, family members, have not in the past engaged in, are not presently engaging in, or plan to engage in, any activity which contravenes this policy.If, at any time during the course of employment or association, a designated person has reason to believe that an existing or contemplated activity may contravene this policy, the person shall submit a full written description of the activity to the Lifespan Compliance Officer or the Office of the General Counsel to seek a determination as to whether the contemplated activity does or does not contravene this policy. If the activity in question involves either the Chief Executive Officer, the Senior Vice President and General Counsel, or a Trustee, a full written disclosure must be made to, and a determination sought from, the Chairman of the Board of Directors of Lifespan Corporation.Annually, the Lifespan Compliance Officer shall review and report to the Lifespan Executive Corporate Compliance Committee and to the Lifespan Audit and Compliance Committee on the administration of this policy.Failure on the part of any designated person to comply with this policy, including failure to submit in a timely fashion the conflict of interest disclosure statement, will be grounds for removal from his/her position and/or termination of his/her employment with Lifespan. |
Form 990, Part VI, Lines 15 a/b: |
The following applies to Lifespan and all of its affiliates, including RIHF:EXECUTIVE COMPENSATIONLifespan's executive compensation philosophy balances appropriate stewardship of resources and the need to be competitive in recruiting and retaining talented individuals. It incorporates market-competitive and performance-related principles, and covers the President and CEO of Lifespan as well as other officers, senior management, and key employees. Lifespan's executive compensation program complies both with law and with contemporary ethical norms, and is administered consistent with the organization's tax-exempt status under Section 501(c)(3) of the Internal Revenue Code (IRC) and the avoidance of transactions subject to intermediate sanctions under Section 4958 of the IRC. Executive compensation is also administered consistent with Lifespan's Corporate Compliance Policy on Excess Benefit Transactions.The Compensation Committee of the Lifespan Corporation Board of Directors (the Committee), comprised of disinterested Lifespan Board members, is responsible for diligent oversight of executive compensation to ensure compliance with IRC requirements. Its duties include:* Approving eligibility for participation in the executive compensation program * Approving changes in compensation for existing executive participants * Approving guidelines, such as salary ranges and contract terms, on appropriate levels of compensation for other key employees* Approving new, and modifying or terminating existing, executive compensation plans including, but not limited to, annual incentive and executive benefit plans* Approving performance objectives associated with Lifespan's annual incentive plan, including measuring points, and using verified actual performance relative to these objectives as a precondition to approving the payment of any awards under the plan* Authorizing periodic performance benchmark studies to be conducted for purposes of assessing Lifespan's performance within the healthcare industry and the degree to which total remuneration levels at Lifespan are generally commensurate with Lifespan performance relative to healthcare industry performance* Conducting an annual performance review of Lifespan's Chief Executive Officer. The Chair of the Committee conducts and documents this review, based on his/her observations and interpretation of feedback from members of the Board of Directors.* Selecting and engaging qualified, independent, third-party compensation valuation consultants that the Committee charges with rendering opinions with respect to the reasonableness and comparability of compensation as well as the comparative organizations against which compensation is assessed, in accordance with relevant sections of the IRC and Lifespan's executive compensation philosophy. Lifespan's Chief Executive Officer works closely with the Committee to make recommendations on the above topics and keep the Committee informed about contemplated compensation changes for executives and other key employees, as well as candidates for these roles. The CEO also provides periodic updates to the Committee regarding Lifespan's performance relative to compensation-related performance objectives. The Committee's deliberations and actions are documented in minutes prepared for each meeting.PROCESS FOR DETERMINING COMPENSATION Valuation of Total Cash and Total Remuneration: No less frequently than annually, the Committee receives and reviews a total cash compensation valuation of all existing executive compensation program participants prepared by its independent compensation consultant. Annually, the Committee also receives and reviews a total remuneration valuation of all existing executive compensation participants. Base Salary Actions: The CEO recommends any salary adjustments for participants in the executive compensation program, using the results of the valuation study and his/her assessment of individual performance or other pertinent information, for the Committee's consideration.New Participants in Executive Compensation Program: With respect to compensation offers for individuals expected to participate in the executive compensation program, certain members of the Lifespan CEO's Council work with the Committee's independent compensation consultant or rely on information previously provided by the consultant to establish a range of reasonable cash compensation within which recruitment is expected to conclude through acceptance of a reasonable compensation offer. |
Form 990, Part XII, Line 2: |
While RIHF did not produce an audited financial statement as of and for the fiscal year ended September 30, 2022, it was included in Lifespan Corporation's audited consolidated financial statements, in which one column is used for the Foundation individually. Additionally, RIHF is included in the Lifespan Combined Foundations audited financial statements. There are no regulatory or creditor stipulations which require the preparation of a separate audited financial statement for RIHF.The Lifespan Audit and Compliance Committee assumes responsibility for oversight of the audit of Lifespan Corporation's consolidated financial statements and the selection of Lifespan Corporation's independent accountant. |