NYC Nonprofit Hospitals Saw High Tax Breaks, Low Community Investments

Abstract: New York City nonprofit hospitals had a fair share deficit of $727 million in 2019, with nine major facilities spending less on community investments than they received in tax breaks, according to a report from the Lown Institute. In exchange for being exempt from most federal, state, and local taxes, nonprofit hospitals must provide free and discounted care to their communities and invest in community health improvements.