Many Illinois hospitals receive tax exemptions, but how much do they help their communities? New report takes a look.

Abstract: Mount Sinai Hospital ranks the fourth highest among hospitals across 20 states for spending far more money on charity care and helping its community than what it saves through tax exemptions, according to a new report from the Lown Institute. The West Side hospital spent an average of $78 million more a year on charity care and investing in its community than it saved from tax exemptions given to not-for-profit hospitals, between 2020 and 2022, according to the report from Lown, a Massachusetts-based think tank.