Island Hospital Trust was formed during the Civil War.
State leaders agreed that Rhode Island needed a state hospital,
and that the new institution should have an ongoing source of
income. The Rhode Island Hospital was inaugurated in 1868 and
the Rhode Island Hospital Trust
(RIHT) was created
to provide a source of income.
the oldest trust company in New England, with over one third of
it's profit initially dedicated to the Rhode Island
Hospital. The hospital itself later became a major stockholder
in the company.
the hospital became a partner in The Rhode Island
Foundation and during the next 80 years the Rhode
Island Hospital Trust's involvement with the hospital
decreased as the new Foundation's staff and expertise
absorbed Rhode Island Hospital Trust and BankBoston
merged with Fleet Bank in 2000. Rhode Island
Hospital Trust is now only another RI memory.
of 2003 FleetBoston Financial Corporation sold two
of the Rhode Island Hospital Trust Buildings in Providence to
Gilbanes maintained a home on the cliffs overlooking
Narragansett Bay off of Lloyd Road just north of Saunderstown
next to Judge Donnelly's home.