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1913 Atlantic Ave., Suite F5
Manasquan, NJ  08736
(732) 292-1100
fax: (732) 292-1111

MCIC Press Release

April 15 , 2008

Do Not Wait! 
Reporting Charity Care and
Community Benefit: 
What Hospitals Need to Know Now to Prepare for Schedule H

Live 90-Minute Audio Conference
Scheduled for Thursday May 15, 2008 from 
1:30-3:00 pm ET 

Contact: Rebecca Stodolak
Phone:    800-516-4343

MANASQUAN, NJ -- April 15, 2008: The new IRS Form 990 Schedule H requires that nonprofit hospitals report their finances and community benefits in much greater detail.  Up until now no formal guidelines were in place that defined a minimum standard of giving.  

Starting for the tax year 2009, nonprofit hospitals will be required to collect and analyze data and determine the value of both according to uniform standards for the reporting of charity care and other community benefits activities. Now that the draft instructions for Schedule H have been released, hospitals should proactively prepare. 

These new reporting requirements will challenge hospital resources, both in the length of time needed to complete the schedule and the expense involved.  But the burden to hospitals will be greater if they don’t start preparing right away.   Identifying any weaknesses in community benefit reporting now will allow enough time to make needed improvements before the new IRS requirements go into effect.

Join Health Resources Publishing and the experts from McDermott Will & Emery and Deloitte Tax to learn what steps you can take to prepare for filing Schedule H.  “Do Not Wait!  Reporting Charity Care and Community Benefit: What Hospitals Need to Know Now to Prepare for Schedule H” is scheduled for Thursday, May 15, from 1:30 – 3:00 pm EDT.
Presenters Elizabeth M. Mills P.C. Partner McDermott Will & Emery LLP, Nancy Evetts, CPA Director Deloitte Tax LLP, and Melinda Grady, CPA Senior Manager Deloitte Tax LLP  will discuss topics that include:

  • Why community benefit and hospital tax exemption is under scrutiny
  • Tests for tax-exemption
  • How to measure community benefit under the new IRS requirements
    • Ways to fulfill the new requirement
    • How to ensure your community benefit numbers are defensible 
  • Review of the new IRS reporting standards and draft instructions for Schedule H
  • How to best meet the new reporting demands 
    • Identify key risk areas to provide accurate and complete information
  • Do bad debt expense and Medicare shortfalls count toward community benefit?
  • The benefits of measuring community benefit in 2008
  • How Schedule H can be used as a PR tactic to describe exempt accomplishments and mission
  • Practical examples of reporting for very different, real-life situations
  • Live question and answer session with out expert panel

To register for “Do Not Wait! Reporting Charity Care and Community Benefit: What Hospitals Need to Know Now to Prepare for Schedule H" visit: http://www.healthresourcesonline.com/edu/communitybenefit.htm, call (800) 516-4343 or e-mail  orders@healthresourcesonline.com

Cost of the conference is $247 per site if registered by May 9 (and $297 after). A CD will also be available for purchase for those unable to attend the live conference. For further details and other pricing options http://www.healthresourcesonline.com/edu/communitybenefit.htm.

Address: The Managed Care Information Center, 1913 Atlantic Ave., Suite F5, Manasquan, NJ 08736; (732) 292-1100, www.themcic.com