Demystifying Catholic Health Services of Long Island’s 990 Form: What You Need to Know

Demystifying Catholic Health Services of Long Island’s 990 Form: What You Need to Know

Catholic Health Services of Long Island (CHSLI) is a non-profit healthcare organization that provides an array of medical services to individuals and families in the greater New York area. As a non-profit organization, CHSLI is required to file a 990 form annually with the Internal Revenue Service (IRS). This form provides critical financial information about the organization’s operations and expenses, which can help donors, patients, and stakeholders make informed decisions about the organization’s performance.

If you are curious about CHSLI’s 990 form and what it means for you, this article will provide you with a comprehensive overview of the form’s contents and significance. We will cover the key sections of the 990 form, explain how to read it, and discuss what it can tell you about CHSLI’s financial management and performance.

Section 1: Income Statement

The first section of CHSLI’s 990 form is the income statement, which summarizes the organization’s revenues and expenses for the fiscal year. This section provides crucial details about CHSLI’s financial performance, including its total revenue, net income, and expenses by category. By comparing the income statement from year to year, you can see whether CHSLI’s financial position is improving or declining.

Section 2: Balance Sheet

The balance sheet section of the 990 form provides information about CHSLI’s assets, liabilities, and net assets at the end of the fiscal year. This section can reveal how the organization is managing its financial resources and whether it has significant debts or unspent funds.

Section 3: Programs, Accomplishments, and Outcomes

The third section of CHSLI’s 990 form is perhaps the most important, as it details the organization’s programs, accomplishments, and outcomes. This section provides information about CHSLI’s mission and activities, the number of patients it serves, and the services it provides. It also highlights the organization’s achievements during the fiscal year, such as new programs or services it has launched or improvements it has made to existing services.

Section 4: Board of Directors and Governance

The Board of Directors and Governance section of the 990 form describes CHSLI’s leadership structure and management practices. This section identifies the people who govern the organization, such as the members of the board of directors, and provides information about their roles and responsibilities. It also describes how CHSLI manages potential conflicts of interest and how it ensures that its operations comply with legal and ethical standards.

Section 5: Compensation of Officers and Key Employees

The final section of the 990 form provides information about the compensation and benefits of CHSLI’s officers and key employees. This section discloses the salaries, bonuses, and other forms of compensation paid to the organization’s executives and top earners. While this information can be useful for understanding how CHSLI manages its finances, it’s important to note that not all non-profit organizations are required to disclose this information on their 990 forms.

Conclusion

In summary, Catholic Health Services of Long Island’s 990 form provides essential information about the organization’s finances, programs, and leadership. By reviewing this form, you can gain a deeper understanding of CHSLI’s financial health and its commitment to providing high-quality healthcare services to its patients. If you are considering donating to CHSLI or seeking medical care from the organization, reviewing its 990 form is an essential step in making an informed decision.