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Form 990
The way you represent your healthcare organization on Form 990 and its schedules should be considered more than a compliance issue. It will tell the organization's story of dedication to service and quality health care.

Form 990

Regulators, donors, and the media will look at Form 990 for information on your organization

If the board members and executives of your tax-exempt, non-profit organization have been paying little or no attention to how your Form 990 is completed, we suggest they change their priorities. The new version of Form 990 is substantially different from the prior version and is designed to enhance transparency – painting a clearer picture of the organization’s mission, finances, operations, and use of resources.
 

Form 990 asks for more information

In other words, with the new Form 990 the IRS is asking the leaders of nonprofits like senior care facilities and hospitals to prove they are responsible stewards of public funds. The request for more information is coming at the same time that there is more public awareness of Form 990 due to congressional and IRS scrutiny of several high-profile organizations in the past few years.
 
Regulators and grant makers will continue to use Form 990 data for research and due diligence; in fact, in a recent study, two out of three grant makers asked for Form 990 copies as part of their vetting process. One out of three said the data influenced the grant-making organization’s final decision. In addition, it is likely that members of the media may be more interested in the additional information that will be available on the revised Form 990.
 

Form 990 requires more information about compensation

The revised Form 990 calls for more detail relating to the organization’s compensation of officers, directors, trustees, key employees, and highest paid employees. Schedule J – Compensation Information – calls for more detail on compensation practices and reporting. To have the information your organization needs to comply, you may require new record-keeping procedures.
 
The new Form 990 contains 16 schedules that may need to be completed; some of these schedules call for greater attention to related entities, transactions with interested persons, and tax-exempt financing.
 

Are you meeting the challenges of the new Form 990?

These changes to Form 990 are the most dramatic in more than 25 years; are you ready to comply? And what kind of story do you want to tell?
 
We have tax professionals and accounting and audit consultants who understand healthcare industry. We stay on top of regulations, legislation, and trends that are important to the industry.
 
We can help you with your Form 990 compliance so that the data tells your organization’s story in an accurate and positive manner.

Contact Us

Lynne Huismann

877.622.2257, x57327

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“Plante & Moran’s feasibility study was excellent. I was very impressed with their ability to communicate with all of our stakeholders. They were professional, concise, understanding and had a great deal of in-depth knowledge of our industry. They saved us a lot of money and potential agony, and were more than willing to listen to our ideas and suggestions. I recommend any health system considering new construction bring Plante & Moran in from day one before they spend a dollar.”

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Hawaii Health Systems Corp., Kauai, HI