frequently, hospitals are asked to approve capital expenditures in excess of available funds. The usual financial criteria for selection among competing capital projects is sound but not sufficient. An ethical analysis of proposed projects allows both economic and moral ends to be balanced. Non-profit hospitals, for example,should actively promote out-comes that benefit others. They must provide sufficient community benefit to justify their tax-exempt status. Furthermore, capital expenditure decisions should avoid doing harm to others. Decisions that provide personal or institutional value but bring harm to the community should be avoided. Additionally, when choosing among competing proposals, those that align with the values of the organization should be favored over those that have less alignment. Finally, resource allocations should be fair and impartial. Both economic and non economic factors need to be considered so that the outcome is prudent and just.