Final answer:
The 501(r) regulations require not-for-profit hospitals to establish financial assistance policies, conduct community health needs assessments, and limit billing amounts for eligible individuals. These requirements are part of maintaining their tax-exempt status as a 501(c)(3) organization. None of the options listed in the student question are directly mandated by 501(r).
Step-by-step explanation:
The 501(r) regulations refer to specific provisions in the Internal Revenue Code that outline requirements for not-for-profit hospitals and healthcare providers that are exempt under section 501(c)(3). These regulations mandate certain activities to maintain their tax-exempt status. While they are not required to have a board of directors specifically by 501(r), they must establish and widely publicize a written financial assistance policy that includes eligibility criteria, the basis for calculating charges, and the method for applying for financial assistance. They are also required to conduct a Community Health Needs Assessment (CHNA) every three years and adopt an implementation strategy to meet the community health needs identified through the CHNA.
Additionally, the 501(r) requires that hospitals limit amounts charged for emergency or other medically necessary care provided to individuals eligible for assistance under the hospital's financial assistance policy. Hospitals must also follow reasonable billing and collection requirements and refrain from extraordinary actions before they have made reasonable efforts to determine whether the individual is eligible for financial assistance. These activities are essential parts of the community benefit not-for-profit hospitals are expected to provide.
It's important to note that none of the options listed in the student's question (A: establishing a board of directors, B: providing free care to uninsured individuals, C: publishing an annual report on community benefits, D: conducting regular fundraising events) are directly mandated by 501(r) regulations. Option A may be a common practice for nonprofits to meet other governance requirements, while options B, C, and D may be activities a nonprofit organization undertakes as part of their operations or mission fulfillment, but they are not specific mandates under 501(r).