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The City of Hope 990: A Closer Look at Financial Transparency
When it comes to evaluating the financial health and transparency of a nonprofit organization, one key document stands out: the Form 990. This annual filing provides a comprehensive overview of a nonprofit’s financial activities, governance structure, and mission impact. In this article, we will delve into the City of Hope 990, exploring what it reveals about this renowned cancer research and treatment center.
Understanding the City of Hope
City of Hope is a leading research and treatment center for cancer, diabetes, and other life-threatening diseases. Founded in 1913, it has grown to become a world-renowned institution known for its innovative research, compassionate care, and commitment to finding cures for complex diseases.
What is the Form 990?
The Form 990 is a document that tax-exempt organizations, including nonprofits like City of Hope, must file with the Internal Revenue Service (IRS) each year. It provides detailed information about the organization’s finances, governance, and activities, giving donors and stakeholders insight into how their contributions are being used.
Key Insights from the City of Hope 990
Financial Overview
One of the most important sections of the Form 990 is the financial summary, which outlines the organization’s revenue, expenses, assets, and liabilities.
. In the case of City of Hope, the 990 reveals a robust financial position, with significant revenue from a combination of donations, grants, and patient services.
- City of Hope reported total revenue of $1.5 billion in its most recent Form 990 filing.
- The organization’s expenses were primarily allocated to research and patient care, demonstrating a strong commitment to its mission.
Governance and Leadership
Another critical aspect of the Form 990 is the disclosure of key leadership positions and governance structure within the organization. City of Hope’s 990 provides transparency around its board of directors, executive team, and compensation practices.
- The Form 990 lists the names and titles of City of Hope’s board members, highlighting their diverse backgrounds and expertise.
- It also discloses the compensation of the organization’s highest-paid employees, ensuring accountability and transparency in financial management.
Mission Impact
Beyond financial and governance details, the Form 990 offers insights into the impact of City of Hope’s programs and services. By detailing the organization’s activities and accomplishments, the 990 demonstrates how donor support is making a difference in the fight against cancer and other diseases.
- City of Hope’s Form 990 highlights its groundbreaking research initiatives, clinical trials, and patient outcomes, showcasing the tangible results of its work.
- It also provides information on the organization’s community outreach efforts, education programs, and advocacy work, illustrating its broader impact beyond the clinic walls.
Conclusion
The City of Hope 990 offers a comprehensive view of the organization’s financial health, governance practices, and mission impact. By examining this document, donors, stakeholders, and the public can gain valuable insights into how City of Hope is fulfilling its mission to improve the lives of those affected by cancer and other diseases. Transparency and accountability are essential pillars of nonprofit management, and the Form 990 serves as a vital tool for promoting trust and confidence in organizations like City of Hope.
For more information on City of Hope’s financial transparency and impact, you can access their latest Form 990 filing on the City of Hope website.