Welcome to AJC! | ajc.com: "OUR OPINIONS: High-rolling not for nonprofits
Staff
Monday, June 27, 2005
Without question, the world of nonprofit hospitals has changed since the 1950s, when they were first defined by the IRS as charitable institutions, deserving of tax exemption, if they accepted patients without regard for their ability to pay. That was, at the time, the dividing line between not-for-profit and for-profit hospitals, which were mostly owned and operated by physicians as an extension of their private practices.
Flash forward 50 years --- and marvel at a world of nonprofit hospitals where executives establish offshore insurance subsidiaries, luxuriate in hotel rooms that cost $570 a night for 17 people while spending $538 for beverages and smoking cigars costing $249 at one meal."
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