Form 990 (Schedule H) IN 2024-2025

Form 990 (Schedule H) IN: What You Should Know

Health care organizations that provide assistance for needy families through a network of social workers, tutors, teachers, and  community volunteers are required to report their program results. On the new Schedule H, Holy Cross Health must report community benefit payments under Section 2 of the Act to each program where such assistance  was provided during the tax year, including programs administered by other schools. We are currently in the process of developing an estimate of the amounts we expect to pay in such programs which would  result in a net increase in payment amount. Holy Cross Health, Health Care Foundation receives all of its revenue from community programs. Therefore, Holy Cross,  Holy Cross Health Medical Center, and other institutions operating at Holy Cross must file Form 990, Schedule H, for  each community benefit we provide. In addition to reporting our community benefit payments, we anticipate that other expenses are eligible for the Section  2 exclusion and may be paid in a separate Schedule H for each program. These expenses include the salaries and  rents of hospital staff; equipment rental; utilities for custodial services; special equipment and supplies; volunteer  travel; special events; and administrative expenses. These expenses are deductible on our Schedule H, which must be filed by May 31. We are making a list of the programs for the years in which we expect to pay the expenses listed in  Schedule H, the amount of expenses we expect to include in gross income, and the total amount that we expect to  pay in net income from these programs during that year. We ask each board member, if we do not have written permission to share this information with the Department  of the Treasury, to notify us by letter stating the types of programs that are in our list, and that we should  have access to this list. Schedule H, Community Benefit | Holy Cross Health We are also asking board members if they have been aware of the requirements  for filing an excise tax on health care organizations and if any of them have a policy against  filing Form 990. We are also asking members of our community to take a minute to review our latest financial statement and  our current policy regarding tax forms for community benefit purposes. Here is what the government told us: If an organization provides community benefits, it must include the income from such benefits in income for those  programs that it is required to report as community benefit income.

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