The staff at Glendive Medical Center were the featured presenters in an educational teleconference seminar hosted by the American Hospital Association recently. During the call, GMC staff shared a case example for more than 100 hospitals across the country related to the process they use to gather and report community benefits according to the new Internal Revenue Service Form 990, Schedule H requirements.
Schedule H was created solely for not-for-profit hospitals, and will be required by the IRS for those hospitals seeking tax-exempt status for the 2009 tax year. The new schedule is meant to bring additional transparency to tax-exempt hospitals, placing clear limits on what a hospital can report as "community benefits." Tax-exempt hospitals are required to provide a specified amount of community benefits (services without pay) to retain their not-for-profit status.