Understanding the Importance of Catholic Health Services of Long Island’s Form 990

Understanding the Importance of Catholic Health Services of Long Island’s Form 990

Catholic Health Services of Long Island (CHS) is a non-profit organization that provides healthcare services to the people of Long Island. As a non-profit organization, CHS is required to file an annual tax return with the IRS, known as Form 990. This form is an essential document that provides transparency about CHS’s finances, governance, and mission.

In this article, we will explore the importance of the Form 990 and how it sheds light on CHS’s operations.

What is Form 990?

Form 990 is a tax return that non-profit organizations file with the IRS. It requires organizations to disclose information about their finances, governance, and mission. The Form 990 is available to the public, allowing stakeholders to make informed decisions on whether to donate to the organization.

Why is Form 990 important for CHS?

As a healthcare provider, CHS has a responsibility to the community to provide quality care and be transparent about its operations. Form 990 provides stakeholders with insight into CHS’s finances and operations.

For example, Form 990 lists the compensation of CHS’s highest-paid employees. This information can be used to ensure that salaries are reasonable and in line with industry standards. It also lists CHS’s board members, providing transparency about the organization’s governance structure.

Moreover, Form 990 provides information about CHS’s programs and activities, allowing stakeholders to understand how the organization uses its resources to serve the community.

What information is included in CHS’s Form 990?

CHS’s Form 990 provides a wealth of information about the organization’s operations. It includes financial statements, a list of board members and their compensation, a description of the organization’s programs and activities, and information about donations and grants.

How can stakeholders use CHS’s Form 990?

Stakeholders can use CHS’s Form 990 to make informed decisions about donating to the organization. They can use the financial information to assess CHS’s financial health and management practices. They can also use the information about CHS’s programs and activities to determine how the organization uses its resources to serve the community.

Conclusion

In conclusion, CHS’s Form 990 is an essential document that provides transparency about the organization’s finances, governance, and mission. It allows stakeholders to make informed decisions about donating to the organization and ensures that CHS is accountable to the community it serves. By providing insight into its operations, CHS demonstrates its commitment to providing quality healthcare services to Long Island’s residents.