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Lown Institute Report Finds Some Hospitals Fall Significantly Short on Expected Community Investments

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A new report examining the finances of nonprofit hospitals in New York City finds that some hospitals fall significantly short on expected community investments. The study by the Lown Institute, a healthcare think tank, includes 21 hospitals and finds that nine have a Fair Share deficit—meaning that the value of their community investments fails to equal the value of their federal, state, and local tax breaks. In total, the nine hospitals are $727 million short of equaling the $1.2 billion in tax breaks they received in 2019.

Fair Share spending is calculated by comparing the value of hospital tax exemptions to the amount spent on meaningful community investment. Federal, state, and local taxes are all included in the tax exemption valuation, as are benefits from tax-exempt bonds and donations. Data sources include CMS hospital cost reports, IRS Form 990, and property assessments from the NYC Department of Finance.

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