The IRS's version of community benefit: a look at the redesigned Form 990 and new Schedule H

Hospitals should consider seven action steps with respect to the IRS's new Form 990: Establish a working group to ensure thoroughness of reporting on the Form 990. Find the gaps in the organization's readiness to file a complete Form 990. Complete the entire Form 990-even the parts not required for tax year 2008. Review existing policies and procedures for gathering needed information. Refine the hospital's existing reporting on community benefit. Start compensation disclosures early. Take advantage of the opportunity to improve operational performance.