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Aren’t hospitals being nonprofit just in name only? They do it for tax purpose, not for charity.
by ww520 3y ago
Aren’t hospitals being nonprofit just in name only? They do it for tax purpose, not for charity.
- Guvante 3y ago501.3(c) exemptions for Hospitals require charity is why it comes up. Non-profits are required to provide community benefits to preserve their tax free status. Community benefits for hospitals are about promoting community health. https://www.irs.gov/charities-non-profits/charitable-hospitals-general-requirements-for-tax-exemption-under-section-501c3 https://www.irs.gov/charities-non-profits/charitable-hospita...
- vsareto 3y agoThere is a not-for-profit designation as well, which has different requirements, and hospitals can be either of those or for-profit (and probably more)