Independent Sector | Statement by IS Statement on Senate Tax Proposal on Tsunami Donations

Independent Sector | Statement by IS Statement on Senate Tax Proposal on Tsunami Donations: "Nonprofit Panel Recommends More than 120 Actions to Strengthen Transparency, Governance, and Accountability in the Charitable Community

(Washington, D.C., June 22, 2005) – The Panel on the Nonprofit Sector, a collaboration among leaders of America’s charitable organizations, today offered a comprehensive series of recommendations intended to strengthen the ability of the nation’s
1.3 million charities and foundations to serve as responsible stewards of the public’s generosity.

In the report it presented to Senator Charles Grassley (R-IA), chairman of the U.S. Senate Finance Committee, and Ranking Member Max Baucus (D-MT), the Panel recommended more than 120 actions to be taken by charitable organizations, by Congress, and by the Internal Revenue Service, which together would strengthen the sector’s transparency, governance, and accountability. Representing the collective expertise of hundreds of nonprofit leaders, these recommendations, if implemented, would constitute the most sweeping changes to the governance, operations, and regulation of charities and foundations in three decades."