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Marchesa_07 t1_iwmhuy7 wrote

Reply to comment by enemy_of_your_enema in upmc by Safe-Pop2076

Bro. . .

Back in 2012:

"UPMC is a global health enterprise worth more than $10 billion and is sitting on more than $4 billion in cash and investments.

"UPMC made nearly $1 billion in profit in 2011 (see note 6 on page 12) and 2012 but gives less than 2% back of its annual patient care revenue in charity care.

UPMC has shut down and scaled back operations around Allegheny county, like in hard-hit communities like Braddock. At the same time, it’s investing millions overseas in places like Italy, Cyprus and Singapore"

http://www.fairsharepittsburgh.com/facts/#:~:text=UPMC%20is%20the%20largest%20landowner,of%20property%20in%20Pittsburgh%20alone.

How does UPMC qualify for non profit status? Why cannot US Steel, PNC, PPG, Alcoa, Amazon qualify for non profit status?

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enemy_of_your_enema t1_iwmr29q wrote

Nonprofits simply must reinvest any profits back into their organization, rather than give them out as dividends to owners or shareholders. US Steel, Alcoa, etc, do the latter, so they aren't nonprofits.

I believe there's also some kind of requirement for nonprofits to spend a certain amount of money on community benefits, which is broader than just charity care. I don't know if they adhere to that rule or not.

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