IRS allows unusual not-for-profit affiliation.
The Internal Revenue Service has approved an unusual transaction that allows a small not-for-profit hospital with a declining patient census to affiliate with a larger hospital, sell part of itself to staff physicians, maintain its tax-exempt status and stay afloat. While the IRS declined to name the hospitals involved, MODERN HEALTHCARE has discovered their identities and tracks their unconventional path toward affiliation.
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D005431:Florida; D006077:Government Agencies; D006745:Hospital Bed Capacity, 300 to 499; D006743:Hospital Bed Capacity, under 100; D006788:Hospitals, Voluntary / Q000331:legislation & jurisprudence*; D009935:Organizational Affiliation / Q000331:legislation & jurisprudence*; D013660:Taxes / Q000331:legislation & jurisprudence*; D014481:United States