EDITORIAL: Lifespan is the Billionaire that Can’t Tip the Waitress
EDITORIAL
EDITORIAL: Lifespan is the Billionaire that Can’t Tip the Waitress
A GoLocal report unveiled that Lifespan, the multi-billion dollar healthcare giant that is the only significant non-profit that is not making a contribution to the City of Providence, claimed tens of millions in savings under Obamacare -- but said that it could no longer afford to pay the city.
“Lifespan touted a more than $30 million reduction in charity care costs under Obamacare in 2015, due to the number of charity cases moving to Medicaid -- but says it cannot afford to pay the City of Providence, despite paying $800,000 a year when it had twice the charity costs," reported GoLocal's Kate Nagle.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTLifespan’s claims seem shallow and short sighted. The nonprofit's attitude is that it is an island to itself rather than part of a bigger community.
Taking Care of Their Own
Well, the island pays its own very well. Not counting physicians, just management, Lifespan pays ten of its top managers more than $500,000. CEO Tim Babineau tops the list at nearly $2 million annually, according to the most recent federal tax documents. This does not count the top salaried staffers at RI Hospital, Miriam, or the other facilities. Top talent costs real money.
Obviously, Providence wants to be home to top level healthcare talents and wants the Lifespan network to grow and flourish, but first class healthcare systems are partners with their host cities.
In Boston, hospitals paid more than $16 million to the city in 2015. As an example, Dana Farber, which is roughly half the size of Lifespan, paid Boston $743,000 last fiscal year. Tiny Faulkner Hospital paid Boston more than $450,000. Mega-hospital Mass General paid Boston more than $6 million. And so on, and so on.
In Baltimore, Johns Hopkins University, which is both a college and a hospital system, pays Baltimore in excess of $10 million annually.
Lifespan's claims of poverty, while owning more than $5 billion in collective assets, were severely undermined when they further expanded their footprint less than a year ago and purchased the Victory Place parcel for $7.5 million. The land was one of the sites considered for building the $100 million sports stadium on Providence.
Lifespan is a critical part of Providence and Providence is a critical partner to the healthcare giant.
Lifespan enjoys billions in assets, billions in revenue, and now needs only to be vaguely responsible and make an annual payment to the City of Providence. This is fiscally irresponsible and just plain embarrassing.
The 100 Largest Non-Profits in Rhode Island
#100
Company Name: Church Community Housing Corporation
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $18,414,913
#99
Company Name: Saint Antoine Residence
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $19,104,042
#98
Company Name: Westerly Land Trust
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2012
Total Assets: $19,209,042
#97
Company Name: Gateway Healthcare
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $19,531,455
#96
Company Name: Amy Plant Slatter Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $19,580,437
#95
Company Name: Thundermist Health Center
Org. Type: 501(c)(3)
Fiscal Year Ending: August 2013
Total Assets: $20,114,766
#94
Company Name: Moses Brown School Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2014
Total Assets: $20,471,216
#93
Company Name: Lincoln School
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $20,951,163
#92
Company Name: Biogen Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $21,156,769
#91
Company Name: FM Global Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $21,398,128
#90
Company Name: Sharpe Family Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $21,512,369
#89
Company Name: Gordon School
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $22,865,048
#88
Company Name: Steere House
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $22,970,587
#87
Company Name: St. Elizabeth Community
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $24,392,335
#86
Company Name: Shriners of Rhode Island Trust
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $24,638,985
#85
Company Name: Child and Family Services of Newport
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $24,703,612
#84
Company Name: Rhode Island College Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $24,983,500
#83
Company Name: Naval War College Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $26,604,533
#82
Company Name: Redwood Library and Athenaem
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $26,637,542
#81
Company Name: University Surgical Associates
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $27,334,560
#80
Company Name: Audubon Society of RI
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $27,786,166
#79
Company Name: Children’s Friend
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $27,853,045
#78
Company Name: University Medicine Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $28,132,698
#77
Company Name: Home and Hospice Care of RI
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $29,179,344
#76
Company Name: Amica Companies Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2012
Total Assets: $29,935,865
#75
Company Name: Samuel Freeman Charitable Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $29,940,503
#74
Company Name: Woonsocket Neighborhood Development Corp
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $30,332,328
#73
Company Name: TriMix Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $30,587,000
#72
Company Name: Providence Public Library Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $31,820,384
#71
Company Name: YMCA Pawtucket
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $32,833,487
#70
Company Name: Times2 Inc
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $33,670,874
#69
Company Name: Newport Restoration Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $33,952,845
#68
Company Name: Memorial and Library Association
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $34,034,112
#67
Company Name: Feinstein Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $34,171,211
#66
Company Name: PPAC
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $34,316,374
#65
Company Name: Roger Williams Law School
Org. Type: (501)(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $34,536,000
#64
Company Name: Plan International USA
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $36,951,753
#63
Company Name: Meeting Street
Org. Type: 501(c)(3)
Fiscal Year Ending: August 2013
Total Assets: $38,933,494
#62
Company Name: RI Blood Center
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $38,937,953
#61
Company Name: OSHEAN, Inc.
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $38,945,842
#60
Company Name: Greater Providence YMCA
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $39,710,483
#59
Company Name: Gordon Research Conferences
Org. Type: 501(c)(3)
Fiscal Year Ending: October 2013
Total Assets: $40,643,987
#58
Company Name: CVS Caremark Charitable Trust
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $41,398,945
#57
Company Name: ProvPort Inc.
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $43,174,375
#56
Company Name: St. Andrews School
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $43,939,583
#55
Company Name: Jewish Federation Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $47,138,605
#54
Company Name: Preservation Society of Newport County
Org. Type: 501(c)(3)
Fiscal Year Ending: March 2014
Total Assets: $49,797,781
#53
Company Name: Jonathan Nelson Family Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $50,427,395
#52
Company Name: Seth Sprague Educational and Charitable Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $50,926,807
#51
Company Name: Rhode Island Hospital Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $53,927,147
#50
Company Name: Landmark Medical Center
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $54,452,021
#49
Company Name: Memorial Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $55,728,659
#48
Company Name: Providence Community Health Centers
Org. Type: 501(c)(3)
Fiscal Year Ending: November 2013
Total Assets: $56,763,431
#47
Company Name: LMW Healthcare
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $58,654,97
#46
Company Name: Women and Infants Corporation
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $59,200,632
#45
Company Name: Memorial Hospital Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $60,150,167
#44
Company Name: International Tennis Hall of Fame
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $60,266,635
#43
Company Name: North American Catholic Education Programming
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $60,857,704
#42
Company Name: Westerly Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2012
Total Assets: $61,548,498
#41
Company Name: Tockwotton Home
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $64,755,230
#40
Company Name: American Athletic Conference
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $66,670,782
#39
Company Name: Clay Mathematics Institute
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $69,270,772
#38
Company Name: 1772 Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $71,604,385
#37
Company Name: Homeownership Affordability Trust Fund
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $73,861,423
#36
Company Name: St. Joseph’s Health Service
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $77,002,711
#35
Company Name: Wheeler School
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2014
Total Assets: $85,169,605
#34
Company Name: Karing
Org. Type: 501(c)(4)
Fiscal Year Ending: June 2013
Total Assets: $86,078,959
#33
Company Name: Butler Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $87,976,25
#32
Company Name: LG Balfour Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: March 2014
Total Assets: $97,794,510
#31
Company Name: Roger Williams Medical Central
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $100,109,462
#30
Company Name: Proprietors of Swan Point Cemetery
Org. Type: 501(c)(13)
Fiscal Year Ending: December 2012
Total Assets: $104,509,717
#29
Company Name: Delta Dental
Org. Type: 501(c)(4)
Fiscal Year Ending: December 2013
Total Assets: $112,273,893
#28
Company Name: South County Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $115,062,718
#27
Company Name: Charles & Agnes Kazarian Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: November 2013
Total Assets: $124,783,232
#26
Company Name: Bradley Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $129,964,006
#25
Company Name: Dr. Ralph and Marian Falk Medical Research Trust
Org. Type: 501(c)(3)
Fiscal Year Ending: November 2013
Total Assets: $131,058,917
#24
Company Name: Neighborhood Health Plan
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $134,475,983
#23
Company Name: URI Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $135,974,992
#22
Company Name: Care New England
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $129,665,881
#21
Company Name: American Mathematical Society
Org. Type: (501)(c)3
Fiscal Year Ending: December 2013
Total Assets: $140,161,469
#20
Company Name: Newport Hospital Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $150,962,397
#19
Company Name: Salve Regina University
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $153,779,495
#18
Company Name: Kent County Hospital
Org. Type: 501 (c)(3)
Fiscal Year Ending: September 2013
Total Assets: $169,139,183
#17
Company Name: U.W. Eugene Higgins Charity
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $171,872,194
#16
Company Name: Warren Alpert Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2012
Total Assets: $195,020,101
#15
Company Name: St. George’s School
Org. Type: 501(c)(4)
Fiscal Year Ending: June 2013
Total Assets: $195,282,099
#14
Company Name: Champlain Foundation (Third)
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $235,600,752
#13
Company Name: New England Institute of Technology
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $218,633,441
#12
Company Name: Plan International Inc.
Org. Type: 501(c)(3)
Fiscal Year Ending June 2013
Total Assets: $288,910,069
#11
Company Name: Roger Williams University
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $295,411,000
#10
Company Name: Newport Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $325,236,038
#9
Company Name: Women and Infants Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $343,217,250
#8
Company Name: Bryant University
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $375,442,504
#7
Company Name: Miriam Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $439,298,535
#6
Company Name: RISD
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $561,270,231
#5
Company Name: Providence College
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $622,188,667
#4
Company Name: The Rhode Island Foundation
Org. Type: 501(c)(3)
Fiscal Year Ending: December 2013
Total Assets: $736,167,411
#3
Company Name: Johnson and Wales University
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $892,385,151
#2
Company Name: Rhode Island Hospital
Org. Type: 501(c)(3)
Fiscal Year Ending: September 2013
Total Assets: $1,309,249,253
#1
Company Name: Brown University
Org. Type: 501(c)(3)
Fiscal Year Ending: June 2013
Total Assets: $4,397,600,917
