Senate interest in charity reform continues.

The Senate Finance Committee recently unveiled a staff discussion document proposing reforms for tax-exempt organizations. The discussion draft was prepared in connection with the Finance Committee's June 22 hearing and continued interest in charity oversight and reform. Some of the recommendations in the draft include increasing the liability of board members responsible for charity oversight; implementing 5-year reviews of an organization's tax-exempt status; improving the quality and scope of the Form 990 return and financial statements; and imposing a filing fee on organizations that file Form 990.

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To view the discussion draft, visit finance.senate.gov/hearings/testimony/2004test/062204stfdis.pdf.