Christian Living Communities’ Post

Senators Elizabeth Warren (D-MA) and Chuck Grassley (R-IA) have long expressed concerns about the tax-exempt status of nonprofit hospitals. The lawmakers recently sent a letter to the IRS reiterating earlier allegations that while nonprofit hospitals are required to provide a “community benefit,” some have restricted care and increased costs. To remedy the situation, the lawmakers suggest the IRS conduct more audits, reevaluate hospitals’ status and, if applicable, impose penalties. In addition, they believe that the IRS should set “clear standards.” For example, the tax agency should prohibit nonprofit hospitals from denying care based on patients’ medical debt.

Senators Elizabeth Warren (D-MA) and Chuck Grassley (R-IA) have long expressed concerns about the tax-exempt status of nonprofit hospitals. The lawmakers recently sent a letter to the IRS reiterating earlier allegations that while nonprofit hospitals are required to provide a “community benefit,” some have restricted care and increased costs. To remedy the situation, the lawmakers suggest the IRS conduct more audits, reevaluate hospitals’ status and, if applicable, impose penalties. In addition, they believe that the IRS should set “clear standards.” For example, the tax agency should prohibit nonprofit hospitals from denying care based on patients’ medical debt.

Senators Elizabeth Warren (D-MA) and Chuck Grassley (R-IA) have long expressed concerns about the tax-exempt status of nonprofit hospitals. The lawmakers recently sent a letter to the IRS reiterating earlier allegations that while nonprofit hospitals are required to provide a “community benefit,” some have restricted care and increased costs. To remedy the situation, the lawmakers suggest the IRS conduct more audits, reevaluate hospitals’ status and, if applicable, impose penalties. In addition, they believe that the IRS should set “clear standards.” For example, the tax agency should prohibit nonprofit hospitals from denying care based on patients’ medical debt.

Senators Elizabeth Warren (D-MA) and Chuck Grassley (R-IA) have long expressed concerns about the tax-exempt status of nonprofit hospitals. The lawmakers recently sent a letter to the IRS reiterating earlier allegations that while nonprofit hospitals are required to provide a “community benefit,” some have restricted care and increased costs. To remedy the situation, the lawmakers suggest the IRS conduct more audits, reevaluate hospitals’ status and, if applicable, impose penalties. In addition, they believe that the IRS should set “clear standards.” For example, the tax agency should prohibit nonprofit hospitals from denying care based on patients’ medical debt.

Scenario for your thoughts: Ø In 2022, Act Inc, (Iowa City, IA, Tax-exempt since March 1966, EIN: 42-0841485, a nonprofit) reported income of $244,351,090 (that's million) Ø Reported net income as -$11,978,831 Ø Continues to pay CEO's between $588k and $1.2 million and executive salaries of $300k to $500k yearly   Since 2017 (7 years), ACT has been operating at a loss, the lowest was in 2017 a mere $3,414,965 (mil) the highest was in 2020 a whooping $60,580,000 (mil). Instead of being let go, the next year the CEO was rewarded with a $400K raise and on a net operating loss of -$6,099,428   Maybe, there is some magical accounting I don’t know about. So, I'm putting it out here to the LinkedIn family to just take a quick look and tell me what you think. ACT, you know the people who administer the annual ACT exam to most of our children who want to get into college, has been operating at a loss since 2017.   ACT Inc, has been in business since 1959, became a nonprofit in 1966. They have several companies under their umbrella. A company this old and a non-profit to boot, should be operating should not be operating at a loss, should it? I’m just wondering what’s the deal?  Would love to know your thought! #business #accounting #CEO #expenses #nonprofit https://lnkd.in/drJPawUp

Senators Elizabeth Warren (D-MA) and Chuck Grassley (R-IA) have long expressed concerns about the tax-exempt status of nonprofit hospitals. The lawmakers recently sent a letter to the IRS reiterating earlier allegations that while nonprofit hospitals are required to provide a “community benefit,” some have restricted care and increased costs. To remedy the situation, the lawmakers suggest the IRS conduct more audits, reevaluate hospitals’ status and, if applicable, impose penalties. In addition, they believe that the IRS should set “clear standards.” For example, the tax agency should prohibit nonprofit hospitals from denying care based on patients’ medical debt.

Last month, Results for America announced the 2024 results for its What Works State Standard of Excellence program, write Barrett and Greene Inc. in a Management Update, noting that states “are increasingly using data and evidence to produce better, more equitable results for their residents.” The What Works State Standards of Excellence program, which aims to showcase “evidence-based policies and practices” across the 50 states. was started in 2018, initially sparked by data provided by the The Pew Charitable Trusts/MacArthur Foundation Results First Initiative. Since then, Results for America has conducted surveys to help produce its annual results, and follows-up to refine examples “for clarity and precision”. Who came out on top earning a place in Results for America's Platinum level? The State of Minnesota, which received special notice for its work in two categories (Investing in What Works through Direct Services and Investing in What Works through Budgeting) and the State of Tennessee, which was acknowledged for its work in two more (Evaluation Leadership and Investment in Capacity to Learn What Works) For more details -- including other states that received recognition -- click here: https://lnkd.in/eJ6qXWGN Cheryl Burnett Zachary Markovits David Medina Sarah Needler Adam Peck John M. Kamensky Haley Kadish Nichole Curtiss Crittenden, CFE, CGFM Christin Lotz Terry McKee, MPA, NIGP-CPP, CPPO, CPPB, C.P.M. Carrie Krueger John M. Kamensky Aroon P Manoharan Rudy de Leon Dinglas, Ph.D. Marc Holzer Michael Jacobson Maria Aristigueta

We are excited to share this insightful blog post discussing the proposed tax exemption for charitable organizations. The proposal aims to relieve healthcare, education, and social assistance entities from contributing to social security, starting from the certification application. Gain a comprehensive understanding of this potential change at https://ift.tt/f7hRJU3.

CPA Australia in partnership with University of Melbourne, is pleased to invite you to this year's Annual Research Lecture. The passage of the Australian Charities and Not-for-profits Commission Act 2012 (Cth) establishing a national independent regulator heralded a new era for the Australian not-for-profit (NFP) sector. The Australian Charities and Not-for-profits Commission (ACNC) was borne amidst political contention which existed until March 2016. The ACNC introduced new national reporting requirements for registered charities but with a unique twist – to promote red tape reduction. Mel Yates, acting Assistant Commissioner, Australian Charities and Not-for-profits Commission will outline: What has been achieved in more than a decade since the ACNC was established Challenges that remain The role accountants and assurance providers have played to date What is on the horizon, opportunities and implications for professionals in research and practice The ACNC Charity Register contains hundreds of thousands of annual lodgements from registered charities and tens of thousands of financial reports. In the current environment where regulatory reform continues and societal expectations change, what do the achievements to date mean in the context of change? Has this made a difference to trust and confidence in charities or is it simply more red tape? What is coming next that accountants can prepare for?