WebCPA | Tools and Resources for the Electronic Accountant

WebCPA | Tools and Resources for the Electronic Accountant: "Nonprofit Panel Recommends Sweeping Changes

Washington (June 24, 2005) - The Panel on the Nonprofit Sector, a collaboration of leaders of America's charitable organizations, presented its final report to Sens. Chuck Grassley, R-Iowa, and Max Baucus, D-Mont., chairman and ranking member of the Senate Finance Committee.
The report contains more than 120 actions to be taken by charitable organizations, Congress and the Internal Revenue Service, which together would strengthen the sector's transparency, governance and accountability.
If implemented, these recommendations would be the most sweeping changes to the operation and regulation of charities and foundations in three decades.
Among its proposals, the panel recommended that: "