City Officials Question UPMC Tax Breaks
Following a report released by Allegheny County’s controller, Chelsea Wagner, about the impact of not-for-profit tax-exemptions, City Councilwoman Natalia Rudiak convened a City Council hearing to take a closer look at UPMC, Pittsburgh’s largest non-profit corporation.
Right now, big non-profit organizations can use their charitable work to shelter their for-profit ventures costing taxpayers billions of dollars in lost revenue.
UPMC, which owns the top-grossing hospital in the country, is the main beneficiary of Pittsburgh’s goodwill. Last year, UPMC Presbyterian-Shadyside brought in $10.19 Billion in revenue. Yes, that’s Billion with a capital B.
In 2011, UPMC’s tax breaks cost taxpayers $204 Million. Continue reading