Thursday, October 1, 2009

Endangered species?

Endangered Species?  "Not-For-Profit" hospitals face tax-exemption challenge:  How can you maintain your organization's tax exempt status?  One Way is to participate in the debate over how to measure charity care and community benefits

Healthcare Financial Management
September 2004
By Lisa Simonson Maiuro, Helen Schneider, Nicole Bellows

In February 2004, the Illinois Department of Revenue revoked the tax-exempt status of Provena Covenant Medical Center, a Catholic-affiliated not-for profit hospital in Urbana, because local tax authorities determined that it was not a charitable institution--a decision that the February 19 Wall Street Journal described as an "unusual move that is sending shock waves across the hospital industry." Not-for-profits across the country may be wondering, "Am I next?

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