2026-08-17T16:24:12-07:00 2025-09-30 990 2024-10-01 222535533 NEWPORT HOSPITAL FOUNDATION INC NEWP 4018466400 11 Friendship Street Newport RI 02840 Kevin Bickerstaff Director of Finance 4014447035 2026-08-17 1 2024 2025-03-06 01:10:19Z Tenny Thomas MD 11 Friendship Street Newport RI 02840 44698390 0 X www.brownhealth.org X 1983 RI Newport Hospital Foundation (NHF) coordinates fundraising in support of comprehensive integrated health care services for the advancement and well-being of the southern Rhode Island community, in furtherance of the purposes of Newport Hospital(NH). 18 17 0 125 0 0 5541054 2450541 0 0 11628512 11168422 76997 2222 17246563 13621185 6631221 7771160 0 0 0 0 0 0 1064341 1565598 1462204 8196819 9233364 9049744 4387821 133079352 140953211 159792 990401 132919560 139962810 NHF coordinates fundraising in support of comprehensive integrated health care services for the advancement and well-being of the southern Rhode Island community, in furtherance of the purposes of Newport Hospital. 0 0 4613160 4613160 0 During fiscal year 2025, NHF transferred $4,613,160 in restricted funds to support projects such as the construction of the Newport Adolescent Behavioral Unit ($3.7M) and support of NH's Beyond the Building capital campaign. 3158000 3158000 0 During fiscal year 2025, NHF transferred $3,158,000 in unrestricted funds to NH to support operational needs of the organization. 0 0 0 7771160 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 7 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 RI X Peter K Markell 4014447914 15 LaSalle Square Providence RI 02903 Peter K Markell EVP & CFO 0.1 59.9 X 0 1464555 40760 Crista Durand Former President 0 0 X 0 786684 448861 Nicholas P Dominick President thru 7/25 1 49 X X 0 702482 40089 Jeffrey T Gaines MD Trustee 2 42 X 0 426586 82990 Orla Brandos Former CNO 0 0 X 0 404193 58334 Tenny Thomas MD President 0.25 40 X X 0 12810 0 Gail Alofsin Trustee 1 0 X 0 0 0 Holly Banniser MD Trustee 0.5 0 X 0 0 0 Carol R Bazarsky Chair 2 0 X X 0 0 0 John Brooks Trustee 0.5 0 X 0 0 0 Edward Feldstein Esq Trustee thru 12/24 0.5 0 X 0 0 0 Anne F Hamilton Trustee 1 0 X 0 0 0 Susan N Hill Trustee 1 0 X 0 0 0 Victoria Johnson Secretary thru 12/24 1 0 X X 0 0 0 Patricia Norton Kidder Trustee 1 0 X 0 0 0 Elizabeth W Leatherman Trustee 0.25 0 X 0 0 0 Paul A Leys Trustee 1 0 X 0 0 0 Thomas E McGue MD Trustee 5 0 X 0 0 0 Ann Mencoff Trustee thru 12/24 0.5 0 X 0 0 0 Barbara Odegaard Trustee 1 0 X 0 0 0 Jonathan H Pardee Trustee 0 0 X 0 0 0 Isabella G Ridall Trustee 2 0 X 0 0 0 Arthur J Sampson Trustee 2 6 X 0 0 0 Sarah Schochet-Henken Secretary 0.5 0 X X 0 0 0 Nancy Schreiber MD Trustee 0 0 X 0 0 0 Barbara van Beuren Vice Chair 0.4 0 X X 0 0 0 0 3797310 671034 0 1 1 0 0 0 0 284262 0 0 2166279 70178 2450541 0 3873108 0 0 3873108 0 0 0 0 0 0 0 0 0 0 38293491 0 30998177 0 7295314 0 7295314 0 0 7295314 81250 284262 79028 2222 0 2222 0 13621185 0 0 11170644 7771160 7771160 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 389640 0 389640 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Services purchased from Brown University Health 995278 0 0 995278 Gifts-in-Kind 69063 0 0 69063 Administrative Expenses 8223 0 8223 0 0 0 0 0 9233364 7771160 397863 1064341 0 0 3152286 1119296 4471798 3234116 0 0 0 0 0 0 0 0 0 0 0 0 31764 31764 0 0 74594360 99760324 49770590 34875865 0 0 0 0 1090318 1963610 133079352 140953211 0 0 0 0 29472 25876 0 0 0 0 0 0 0 0 0 0 130320 964525 159792 990401 X 126473122 136407662 6446438 3555148 132919560 139962810 133079352 140953211 4387821 2655429 0 0 0 0 X X 0 1 X 1 0 X 2081788 3098918 4150084 5541854 2450541 17323185 2081788 3098918 4150084 5541854 2450541 17323185 2816518 14506667 2420326 2879045 2560215 3458256 3873108 15190950 178560 206625 301800 180598 77950 945533 33459668 0.43356 0.4785 X Schedule A, Part II, Line 10 Fundraising Income RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 124364950 8655022 9950743 7771160 563366 0 134636189 112763920 1948179 16184073 6275000 256222 0 124364950 107675376 4846109 7386385 4600000 2543950 0 112763920 129514666 2365461 -15999181 5663341 2542229 0 107675376 111037641 2705697 24638421 7601900 1265193 0 129514666 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 31764 31764 0 0 0 0 0 0 0 0 Private Investments 28914752 F Commodities 2403644 F Cash Equivalents 2108847 F Marketable Alternatives 1448622 F 34875865 0 Due to Affiliates 964525 964525 X Schedule D, Part V, Line 4 NHF's endowment funds are funds designated by NHF to function as endowments. These funds are intended to support comprehensive integrated health services for the advancement and well-being of the southern Rhode Island community, in furtherance of the purposes of Newport Hospital. The largest board-designated endowment held by NHF is used to support the facilities and operations of Newport Hospital. NHF's unrestricted endowment also supports the operating activities of NHCC Medical Associates, Inc., as needed, and also defrays NHF's fundraising expenses primarily incurred for services purchased from Brown Health. Schedule D, Part X, Line 2 NHF is a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is exempt from Federal income taxes pursuant to Section 501(a) of the Code. NHF recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount of benefit that is greater than fifty percent likely to be realized upon settlement. Changes in measurement are reflected in the period in which the change in judgment occurs. TMHF did not recognize the effect of any income tax positions in either 2025 or 2024. Gala 365512 284262 81250 0 0 13291 41111 1500 23126 0 0 365512 284262 81250 0 0 13291 41111 1500 23126 79028 2222 1 Newport Hospital 11 Friendship Street Newport RI 02840 050258914 501(c)(3) 7771160 0 FMV Operations/Capital Philanthropic Support 1 0 Schedule I, Part I, Line 2 NHF is committed to community programs and provides support to various charitable organizations in Rhode Island and southeastern Massachusetts. Donations are made to organizations recognized by the IRS as being described in IRC Section 501(c)(3). All contributions are approved by management and are made to organizations whose missions and goals align with those of NHF. During the fiscal year ended September 30, 2025, NHF made restricted net asset transfers to NH of $4,613,160 representing a series of wires throughout the year, transferring funds from NHF to NH for special purpose funds. $3,158,000 in funds raised was provided to Newport Hospital (NH) in the form of restricted net asset transfers supporting certain building and equipment additions, specified clinical programs, or general operations of NH. The use of transferred funds is monitored by NH's management group to ensure that the funds are utilized for their intended purposes, as approved by the authorized signatories for each fund. 1 1 0 0 0 0 0 0 0 Peter K Markell EVP & CFO 0 1221588 0 0 0 242967 0 18975 0 21785 0 1505315 0 0 Nicholas P Dominick President thru 7/25 0 478872 0 0 0 223610 0 17332 0 22757 0 742571 0 206825 Jeffrey T Gaines MD Trustee 0 353435 0 0 0 73151 0 52293 0 30697 0 509576 0 37978 Crista Durand Former President 0 357537 0 0 0 429147 0 419957 0 28904 0 1235545 0 245258 Orla Brandos Former CNO 0 201960 0 0 0 202233 0 37286 0 21048 0 462527 0 104997 Schedule J, Part I, Line 4 Line 4a: The following individual received a severance and/or change of control payment during the calendar year ending December 31, 2024: Orla Brandos, former NH CNO: $92,688. Crista Durand, former President: $177,687. Line 4b: Brown Health offers a non-qualified supplemental employee retirement plan (SERP) to certain executives. The following individuals were credited with the non-vested amounts indicated during calendar year 2024 and such amounts are included in deferred compensation on Schedule J, Part II, Column C: Orla M. Brandos - $22,608. Nicholas P. Dominick - $5,513. Crista F. Durand - $53,831. John Fernandez - $313,833. Jeffrey T. Gaines, MD - $31,593. In 2024, the following individuals became vested in and were paid a 2021 non-qualified supplemental employee retirement plan (SERP) amount and such amounts are included in Medicare wages, more specifically on Schedule J, Part II, Column B(iii): Orla M. Brandos - $104,997. Crista F. Durand - $245,258. Nicholas P. Dominick - $206,825. Jeffrey T. Gaines, MD - $37,978. Peter K. Markell - $158,521. The portion of the above payments that was reported as deferred compensation in prior years is reflected on Schedule J, Part II, Column F. Participants included in Brown Health's SERP are awarded plan contributions on a quarterly basis. Contributions and interest earned during a plan year vest after three years and are paid to plan participants at that time. SERP payments earned during the calendar year which have not yet vested are disclosed on Schedule J, Part II, Column C. Vested SERP payments received during the year are disclosed on Schedule J, Part II, Column B(iii) (as well as Column F if reported on Schedule J, Part II, Column C of a previously filed Form 990). Plan contributions awarded to participants who have reached age 62 become vested as of the beginning of the following calendar year. X 10 66878 FMV X Vacation Packages 3 3300 FMV 0 0 1 0 Schedule M, Part I, Line 31 The Foundation records non-cash contributions based on the number of individual contributions made during the tax year rather than the number of items received. Form 990, Part VI, Section A, Line 6 Brown University Health is the sole member of NHF. Form 990, Part VI, Section A, Line 7a The bylaws of NHF confer certain reserved powers upon Brown Health to provide it with the means of effective oversight, coordination, and support of the system. Powers reserved to Brown Health include: to elect and remove trustees and to approve the election/removal of certain officers. At each annual meeting of NHF's Board of Trustees, a list is compiled of the names of those persons selected to serve as Trustees of NHF so that it can be approved and submitted to Brown Health for ratification and election. Form 990, Part VI, Section A, Line 7b Brown Health 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 Brown Health, 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, Section B, Line 11b 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 Brown Health's Finance Department. The Form 990 is prepared by the accounting staff upon completion of Brown Health's annual independent audit and is reviewed by the Corporate Services Tax Compliance Manager and the Director 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 NHF'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, Section B, Line 12c Brown Health has a Conflict of Interest Policy that is applicable to all affiliates, including NHF, and administered by Brown Health's Compliance Department as follows: Each designated person subject to Brown Health's conflict of interest policy is required to provide Brown Health 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 Brown Health 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 Brown Health. Annually, the Brown Health Compliance Officer shall review and report to the Brown Health Executive Corporate Compliance Committee and to the Brown Health 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 Brown Health. Form 990, Part VI, Section B, Line 15 The following applies to Brown Health and all of its affiliates, including NHF: EXECUTIVE COMPENSATION Brown Health'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 Brown Health as well as other officers, senior management, and key employees. Brown Health'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 Brown Health's Corporate Compliance Policy on Excess Benefit Transactions. The Compensation Committee of the Brown Health Board of Directors (the Committee), comprised of disinterested Brown Health 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 Brown Health'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 Brown Health's performance within the healthcare industry and the degree to which total remuneration levels at Brown Health are generally commensurate with Brown Health performance relative to healthcare industry performance * Conducting an annual performance review of Brown Health'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 Brown Health's executive compensation philosophy. Brown Health'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 Brown Health'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 Brown Health CEO's leadership team 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 VI, Section C, Line 19 Brown University Health currently makes its 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 Brown Health's financial information to repositories and investors alike. NHF's financial statements are included in the audited consolidated financial statements of Brown University Health and Affiliates. In addition, copies of NHF's Articles of Incorporation, Bylaws, and Conflict of Interest Policy are available upon request from the office of the Brown Health EVP/CFO, either in person or by mail. Form 990, Part XII, Line 2b While NHF did not produce an audited financial statement as of and for the fiscal year ended September 30, 2025, it was included in Brown Health's audited consolidated financial statements, in which one column is used for NHF individually. There are no regulatory or creditor stipulations which require the preparation of a separate audited financial statement for NHF. The Brown Health Audit and Compliance Committee assumes responsibility for oversight of the audit of Brown Health's consolidated financial statements and the selection of Brown Health's independent accountant. Alternative Living Concepts Inc 15 LaSalle Square Providence RI 02903 050442015 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Bayberry Courts Inc 15 LaSalle Square Providence RI 02903 204590384 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Bradley Hospital Foundation 15 LaSalle Square Providence RI 02903 050500688 Philanthropic Activities RI 3 7 Brown University Health 0 Brown Health Medical Group 15 LaSalle Square Providence RI 02903 050389801 Physician Health Care Services RI 3 10 Brown University Health 0 Brown Health Medical Group of Massachusetts Inc 15 LaSalle Square Providence RI 02903 331237732 Physician Health Care Services MA 3 10 Brown University Health 0 Brown Health Medical Group Primary Care 15 LaSalle Square Providence RI 02903 844944884 Physician Health Care Services RI 3 10 Brown University Health 0 Brown University Health 15 LaSalle Square Providence RI 02903 222861978 Holding Company/Mgmnt Svcs RI 3 13 N/A 0 Brown University Health Foundation 15 LaSalle Square Providence RI 02903 050493219 Philanthropic Activities RI 3 7 Brown University Health 0 Brown University Health Massachusetts 15 LaSalle Square Providence RI 02903 043408517 Holding Company RI 3 13 Brown University Health 0 Capital City Community Centers Inc 15 LaSalle Square Providence RI 02903 050259090 Daycare Services RI 3 7 Gateway Healthcare Inc 0 Emma Pendleton Bradley Hospital 1011 Veterans Memorial Parkeay East Providence RI 02915 050258806 Pediatric Psychiatric Health Care Svcs. RI 3 3 Brown University Health 0 Families Reaching Into Each New Day Inc 15 LaSalle Square Providence RI 02903 050504841 Bereavement Services for Children RI 3 7 Gateway Healthcare Inc 0 Gateway Healthcare Inc 15 LaSalle Square Providence RI 02903 050309043 Subst. Abuse & Pysch. Health Care Svcs. RI 3 10 Brown University Health 0 Hospital Properties Inc 15 LaSalle Square Providence RI 02903 222869743 Property Management RI 4 Brown University Health 0 JM Apartments Inc 15 LaSalle Square Providence RI 02903 050435537 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 LJR Corporation 15 LaSalle Square Providence RI 02903 030508346 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Mill River Community Housing Corporation 15 LaSalle Square Providence RI 02903 050427152 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Morton Hospital 88 Washington Street Taunton MA 02780 994836263 Health Care Services MA 3 3 Brown University Health 0 Newport Health Care Corporation 11 Friendship Street Newport RI 02840 222535537 Holding Company/Mgmnt Svcs RI 3 7 Brown University Health 0 Newport Health Property Management 11 Friendship Street Newport RI 02840 222335539 Property Management RI 3 12 Newport Health Care Corporation 0 Newport Hospital 11 Friendship Street Newport RI 02840 050258914 Health Care Services RI 3 3 Brown University Health 0 NHCC Medical Associates Inc 11 Friendship Street Newport RI 02840 050472268 Health Care Services RI 3 10 Brown University Health 0 Obed Apartments 15 LaSalle Square Providence RI 02903 050422771 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Pathways Inc 15 LaSalle Square Providence RI 02903 050393004 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Rhode Island Hospital 593 Eddy Street Providence RI 02903 050258954 Health Care Services RI 3 3 Brown University Health 0 Rhode Island Hospital Foundation 15 LaSalle Square Providence RI 02903 050468736 Philanthropic Activities RI 3 7 Brown University Health 0 RIH Ventures 593 Eddy Street Providence RI 02903 050448686 Parking Facilities/Phlebotomy Svcs RI 3 10 Brown University Health 0 Saint Annes Hospital 795 Middle Street Fall River MA 02721 994841947 Health Care Services MA 3 3 Brown University Health 0 Shore Courts 15 LaSalle Square Providence RI 02903 050504003 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 The Autism Project 1516 Atwood Avenue Johnston RI 02919 050512037 Services for Children with Autism RI 3 10 Gateway Healthcare Inc 0 The Bradley Schools 140 Broadway Providence RI 02903 464910847 Educational Services RI 3 2 Emma Pendleton Bradley Hospital 0 The Miriam Hospital 164 Summit Avenue Providence RI 02906 050258905 Health Care Services RI 3 3 Brown University Health 0 The Miriam Hospital Foundation 15 LaSalle Square Providence RI 02903 050377502 Philanthropic Activities RI 3 7 Brown University Health 0 TLR Realty 15 LaSalle Square Providence RI 02903 043742771 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Wentworth Corporation 15 LaSalle Square Providence RI 02903 050488520 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Westerly Courts Inc 15 LaSalle Square Providence RI 02903 611439766 Housing for Elderly and Mentally Ill RI 3 10 Gateway Healthcare Inc 0 Brown University Health Alliance LLC 15 LaSalle Square Providence RI 02903 812732225 Accountable Care Organization RI N/A 0 0 Brown University Health MSO 15 LaSalle Square Providence RI 02903 050508717 Management Services RI Brown University Health C 0 0 0 0 Brown University Health Risk Services 15 LaSalle Square Providence RI 02903 050459767 Risk Management RI Brown University Health C 0 0 0 0 Brown University Health Home Medical 200 Corliss Street Providence RI 02904 050472710 DME Sales RI The Miriam Hospital C 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 1 1 0 0 0