Civic Intelligence

Hospital Properties Inc

990 • Fiscal year 2012 • EIN 22-2869743

Oct 01, 2011 to Sep 30, 2012 • Filed on Aug 14, 2013

Organization Profilewww.lifespan.org
593 Eddy Street02903
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

29th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2012 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

6th percentile

-20%

Faster asset growth than 6% of similar nonprofits.

2012 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$449,561

Down $114,316 (-20%) from 2011

Net Assets

Down

$449,561

Down $114,316 (-20%) from 2011

Liabilities

Flat

$0

Flat from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$647,585

Down $40,534 (-5.9%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $646,152Net Assets 2010: $646,1522010Assets 2011: $563,877Liabilities 2011: $0Net Assets 2011: $563,8772011Assets 2012: $449,561Liabilities 2012: $0Net Assets 2012: $449,5612012Assets 2013: $1,284,511Liabilities 2013: $916,926Net Assets 2013: $367,5852013Assets 2014: $1,071,318Liabilities 2014: $781,625Net Assets 2014: $289,6932014Assets 2015: $1,114,200Liabilities 2015: $711,882Net Assets 2015: $402,3182015Assets 2017: $942,772Liabilities 2017: $584,544Net Assets 2017: $358,2282017Assets 2018: $876,657Liabilities 2018: $489,020Net Assets 2018: $387,6372018Assets 2019: $1,011,766Liabilities 2019: $527,337Net Assets 2019: $484,4292019Assets 2020: $945,445Liabilities 2020: $463,018Net Assets 2020: $482,4272020Assets 2021: $945,363Liabilities 2021: $513,252Net Assets 2021: $432,1112021Assets 2022: $865,665Liabilities 2022: $510,333Net Assets 2022: $355,3322022Assets 2023: $815,121Liabilities 2023: $509,765Net Assets 2023: $305,3562023Assets 2024: $769,903Liabilities 2024: $528,357Net Assets 2024: $241,5462024

Highlighted filing

2012

Assets$449,561
Liabilities$0
Net Assets$449,561
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2010: $218,363Expenses 2010: $664,733Net Income 2010: -$446,3702010Expenses 2011: $688,1192011Expenses 2012: $647,5852012Expenses 2013: $1,616,1002013Revenue 2014: $613,587Expenses 2014: $613,587Net Income 2014: $02014Revenue 2015: $611,402Expenses 2015: $611,402Net Income 2015: $02015Revenue 2017: $585,818Expenses 2017: $585,818Net Income 2017: $02017Revenue 2018: $625,091Expenses 2018: $625,091Net Income 2018: $02018Revenue 2019: $625,363Expenses 2019: $625,363Net Income 2019: $02019Revenue 2020: $558,067Expenses 2020: $558,067Net Income 2020: $02020Revenue 2021: $590,845Expenses 2021: $590,845Net Income 2021: $02021Revenue 2022: $685,516Expenses 2022: $685,516Net Income 2022: $02022Revenue 2023: $719,482Expenses 2023: $719,482Net Income 2023: $02023Revenue 2024: $821,251Expenses 2024: $821,251Net Income 2024: $02024

Highlighted filing

2012

Revenue-
Expenses$647,585
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2011 to Sep 30, 2012
Signed
Aug 14, 2013
Return Version
2011v1.5
Gross Receipts
$647,585
Mission and Program Overview

Mission

HPI improves the provision of health care services at Rhode Island Hospital (RIH) by assuring the availability of suitable office space on the RIH campus to physicians who practice at RIH.

Filing and Contact Details

Filer

EIN
22-2869743
Raw XML AppendixShowing 400 of 705 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0Hospital Properties, Inc.(HPI), as a not-for-profit corporation, is recognized under Section 501(c)(4) of the Internal Revenue Code and is exempt from Federal income taxes. HPI recognizes the effect of income tax positions only if those positions are more likely than not of being 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. HPI did not recognize the effect of any income tax positions during the year-ended September 30, 2012.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1Transfer to Rhode Island Hospital $ -114316
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0Tax Indemnification and Gross-up Payments:The Lifespan Executive Long Term Disability program provides financial protection to designated Lifespan executives in the event that they become disabled. Premiums are paid to the insurance carrier by the insureds on an after tax basis to allow for income replacement at a reasonable cost. The income associated with the premiums is grossed-up to cover the total cost of the benefit as provided in the Lifespan Executive Benefit Plan and is included in Medicare wages, more specifically on Schedule J, Part II, Column B (iii).
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IRS990ScheduleO/GeneralExplanation/Explanation0While Hospital Properties, Inc. (HPI) did not produce an audited financial statement as of and for the year ended September 30, 2012, it was included in Lifespan's consolidated audited financial statements. There are no regulatory or creditor stipulations which require the preparation of a separate audited financial statement for HPI.The Lifespan Audit and Compliance Committee assumes responsibility for oversight of the audit of Lifespan's consolidated financial statements and the selection of Lifespan's independent accountant.
IRS990ScheduleO/GeneralExplanation/Explanation1* Thomas Drew, MD, a Director of Hospital Properties, Inc., provides consulting services to Lifespan relating to various physician arrangements. He is compensated at a rate consistent with industry standards, which in calendar year 2011 totaled $79,992.
IRS990ScheduleO/GeneralExplanation/Explanation2The following applies to Lifespan and all of its affiliates, including Hospital Properties, Inc.: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 with both law and 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 and affiliate 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 and long-term incentive and executive benefit plans* Approving performance objectives associated with Lifespan's annual and long-term incentive plans, including measuring points, and using audited actual performance relative to these objectives as a precondition to approving the payment of any awards under the plan(s)* 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. The independent consultants are not engaged by management to perform any services for Lifespan without prior approval by the Committee.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.
IRS990ScheduleO/GeneralExplanation/Explanation3Lifespan Corporation has a Conflict of Interest Policy that is applicable to all affiliates, including Hospital Properties, Inc., which is 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. (For the bulk of Lifespan management staff awareness of this requirement shall be acknowledged as part of the annual performance evaluation process.) 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.
IRS990ScheduleO/GeneralExplanation/Explanation4Base 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, the office of the Senior Vice President of Human Resources works with the Committee's independent compensation consultant or relies on information previously provided by the consultant to establish a range of reasonable cash compensation within which recruitment is expected to conclude with acceptance of a reasonable compensation offer.
IRS990ScheduleO/GeneralExplanation/Explanation5Lifespan 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 the tax-exempt bonds which electronically posts and transmits Lifespan's financial information to repositories and investors alike. In addition, copies of HPI's Articles of Incorporation, Bylaws, and Conflict of Interest Policy are available upon request from the office of the Lifespan Chief Financial Officer, either in person or by mail.
IRS990ScheduleO/GeneralExplanation/Explanation6The preparation and filing of the Form 990 and supporting schedules is the responsibility of the Chief Financial Officer and Lifespan's Finance Department, with review by Lifespan's tax advisors, KPMG LLP. The Form 990 is prepared by the accounting staff upon completion of Lifespan's annual independent audit and reviewed by the Corporate Services Tax Compliance Manager. Further review is performed by the Director of Finance and the Vice President of Finance - Corporate Services. Once the draft Form 990 is complete, the Director of Finance forwards it with all supporting worksheets to KPMG, which then reviews the completed form in detail. The Director of Finance answers questions as they arise and provides additional information as needed. KPMG provides the Director of Finance with any recommended changes which are reviewed, and if agreed upon, are incorporated into the return. The draft Form 990 is then provided to the Chief Financial Officer for final management review. Prior to filing the return with the Internal Revenue Service, a copy of the entire form is sent to Hospital Properties, Inc.'s Board of Trustees in advance of its next Board meeting, at which the Chief Financial Officer discusses the highlights of the Form. All questions and concerns of the members of the Board are addressed by the Chief Financial Officer 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 a password protected website portal. The Chief Financial Officer is authorized to file the Form 990.
IRS990ScheduleO/GeneralExplanation/Explanation7Lifespan 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 amendment 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.
IRS990ScheduleO/GeneralExplanation/Explanation8The bylaws of Hospital Properties, Inc. (HPI) confer certain reserved powers on 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 of and to remove certain officers. At each annual meeting of the HPI Board of Trustees, a list is compiled of the names of those persons selected to serve as Trustees of HPI so that it can be approved and submitted to Lifespan for ratification and election.
IRS990ScheduleO/GeneralExplanation/Explanation9Lifespan Corporation is the sole corporate member of Hospital Properties, Inc.
IRS990ScheduleO/GeneralExplanation/Explanation10Frederick J. Macri, President, and Mary A. Wakefield, CFO, are employed by and officers of Lifespan Corporation and are also officers of Rhode Island Hospital and VNA Technicare, Inc. Thomas Magliocchetti, VP and Treasurer of the Board, is employed by Rhode Island Hospital, and Jody Bishop, Secretary of the Board, is employed by Lifespan Corporation.
IRS990ScheduleO/GeneralExplanation/Identifier0Form 990, Part VI, Line 19
IRS990ScheduleO/GeneralExplanation/Identifier1Form 990, Part VI, Line 11
IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Line 7b
IRS990ScheduleO/GeneralExplanation/Identifier3Form 990, Part VI, Line 7a
IRS990ScheduleO/GeneralExplanation/Identifier4Form 990, Part VI, Line 6
IRS990ScheduleO/GeneralExplanation/Identifier5Form 990, Part VI, Line 2
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part XII, Line 2
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VII, Section A, Line 1a
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI Section B, Lines 15 a&b
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI Section B, Line 12c
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Line 11: Form 990 Review Process
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/GeneralExplanation/ReturnReference7Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/GeneralExplanation/ReturnReference8Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/GeneralExplanation/ReturnReference9Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$449,561
Liabilities
$0
Net assets
$449,561
Revenue
-
Expenses
$647,585
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.53$0.24$0.82$0.82$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.51$0.31$0.72$0.72$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.51$0.36$0.69$0.69$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.51$0.43$0.59$0.59$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.46$0.48$0.56$0.56$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.53$0.48$0.63$0.63$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.49$0.39$0.63$0.63$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.58$0.36$0.59$0.59$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.11$0.71$0.40$0.61$0.61$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.07$0.78$0.29$0.61$0.61$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$0.92$0.37$1.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.00$0.45$0.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.00$0.56$0.69
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.65$0.22$0.66$0.45
Peer Organizations

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