Q: What is an Internal Revenue Service Form 990?
A: IRS Form 990 is an annual reporting form that certain federally tax-exempt organizations must file with the IRS. It provides information on the filing organization's mission, programs and finances.
Q: What organizations are required to file Form 990?
A: Most federally tax-exempt organizations, with the exception of churches and state institutions, and all 501(c)(3) private foundations, are required to file Form 990.
Q: What is the purpose of Form 990?
A: The Form 990 provides the public with important information, including financial information, about the filing organization, and is often the only source of such information. It is also used by government agencies to ensure that organizations such as Virginia Mason Memorial are meeting their not-for-profit missions.
Q: What does it mean for Virginia Mason Memorial to be a not-for-profit health care organization?
A: As a not-for-profit health care organization, Virginia Mason Memorial's mission is to "improve the health of those we serve." This mission calls for us to be accountable to many groups - including those who grant us tax exemption because of our status as a "charitable, community-oriented organization." Absent this exemption, Virginia Mason Memorial would not be able to deliver the same level and amount of benefits and services that are so important to the communities we serve.
Q: How is Virginia Mason Memorial different from a for-profit health care organization?
A: As a not-for-profit health care organization, Virginia Mason Memorial reinvests its operating margins back into the community we serve by improving and expanding our health care services; purchasing new technology; upgrading facilities; adding key health care workforce, including physician specialists; and ensuring that care is available to everyone, regardless of the ability to pay. Operating margins are not distributed to shareholders, as they are with a for-profit health care organization.
Q: What is Community Benefit?
A: Community Benefit, which is made possible by our tax-exempt status, means that Virginia Mason Memorial benefits the communities we serve in a variety of ways, including charitable care and discounted health care services for the uninsured and underinsured, educational programs support, community programs and services, health education and disease screening and prevention initiatives, child guidance and advocacy programs, and many others. In 2012, Virginia Mason Memorial provided more than $73 million in Community Benefit to the community.
Q: Where can I find more information about Form 990s?
A: GuideStar, an information service specializing in reporting on U.S. nonprofit companies, is an excellent resource at http://www.guidestar.org/rxg/help/faqs/form-990/index.aspx.
Q: What if I have questions about Virginia Mason Memorial's Form 990s?
A: In order to obtain a copy of Virginia Mason Memorial's current IRS Form 990, please contact us at 509-575-8116 (Leif Ergeson) or email us at firstname.lastname@example.org-->