Owens: whole hospital JV ruling has 'value' for other charities.

IRS Exempt Organizations Division Director Marcus Owens explained the IRS' new revenue ruling regarding whole hospital joint venture revenue ruling in May 1998. In his address to the National Press Club, Owens explained the IRS' goal was to ensure charities use their proceeds for charitable purposes without providing substantial private benefits. Owens noted that more than the new revenue ruling applies to charities planning a joint venture with profit oriented organizations.