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A not-for-profit, community-based
hospital
- is under local
control
- focuses on local
concerns
- has no private
gain
- provides access to
care
- gives its attention to
community needs
As a not-for-profit,
community-based hospital, Southwest Washington Medical Center holds itself
accountable to the people we serve - you.
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Not-for-profit/ Community-minded
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Investor-owned |
| Our assets stay in
the community. |
Their assets belong
to investors/owners. |
| Our Board of Trustees is local
and serves without pay. They balance financial decisions with
community concerns. |
Individuals outside
the community most often make the major decisions, with emphasis
on creating profits for the stockholders. |
| There is
no "private" profit - no individual or corporation makes any
profit. |
While some
stockholders might be physicians who practice at the hospital, community members
are generally not allowed to purchase stock. |
| All income
above expenses is used to improve the health of the community.
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Profits often
leave the community. |
| We provide a
full spectrum of care - education, prevention, and treatment - that
benefits all members of our community. |
Provide a full range of care that
benefits the community they serve, but they must serve their investors
first. | |
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The facts about not-for-profit
hospitals and taxes
The federal tax exempt status for not-for-profit
community-based healthcare hospitals does not apply to some taxes.
- In the State of Washington,
under a very complex system of sales tax exemptions, Southwest pays
hundreds of thousands of dollars in sales tax each
year.
- Southwest also pays a Business and Occupation state tax
amounting to more than $4 million annually.
As a
tax-exempt institution, Southwest does not pay federal income tax. Instead, we
accept federal and state payments for patients at substantially reduced rates.
We also demonstrate our benefit to the
community
through charity care, outreach, education, and research
programs.
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