Panel on Nonprofit Sector Recommendations
Posted by on July 29, 2005
On Wednesday, June 22, 2005, the Panel on the Nonprofit Sector released its final recommendations to Congress, the Senate Finance Committee, and the nonprofit sector. Also attending the Capitol Hill event were Senator Charles Grassley, Senate Finance Committee Chairman, Mark Everson, IRS Commissioner, and Russ Sullivan, Finance Committee Minority Staff Director representing the Ranking Minority Committee Member Max Baucus and Diana Aviv, Executive Director, Panel on the Nonprofit Sector.
The Panel’s Final Report offers recommendations to strengthen transparency, governance and accountability of charitable organizations. The Report recommends action in 15 areas, including the following:
? Strengthening existing federal and state enforcement and oversight mechanisms.
? Improving IRS filing requirements and revise the 990 form.
? Rejecting a required 5 year periodic review of tax exempt status.
? Supporting independent financial audits for larger organizations.
? Supporting disclosure of performance data.
? Strengthening rules governing donor-advised funds.
? Reforming, but not eliminating, Type III supporting organizations.
? Restricting participation in potentially abusive tax shelters.
? Strengthening rules governing non-cash contributions such as appreciated property, facade or conservation easements, and household or clothing items.
? Tightening rules and improving disclosure requirements regarding board compensation, executive compensation, travel expense reimbursement, and composition of governing boards.
The Panel’s Final Report represents the culmination of months of research, negotiations, and input from the nonprofit sector. In the hands of our congressional leaders, this document will help guide their reform efforts, and help solidify the role of the nonprofit sector in our society.
Pennsylvania Association of Nonprofit Organizations (PANO) has endorsed the Panel’s Interim Report. We are currently reviewing the Final Report. While the Report is lengthy, we believe it to be an influential document that will guide reform legislation of America’s nonprofits.
We strongly encourage you to take the time to read the Panel’s Final Report. Please visit the Panel’s website to view or download the Panel’s Final Report at http://www.nonprofitpanel.org/.
Over the next few weeks, PANO will provide a more in-depth analysis on the Final Report, its implications, and the state of forthcoming reform legislation.
Please contact David Ross, PANO Public Policy Analyst at firstname.lastname@example.org with questions, comments, or concerns.
Once again, thank you for your participation and your continued support.
Joseph M. Geiger
Pennsylvania Association of Nonprofit Organizations
777 East Park Drive, Suite 200
Harrisburg, PA 17111
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