Statement by Diana Aviv, president and CEO of Independent Sector, on the Proposed Revised Form 990

NOTE: The IRS released a draft of a major revision of the Form 990 which many tax-exempt organizations must file annually with the IRS and make available to the public. The newly released draft of the core form provides summary information about an organization’s mission, finances and fundraising expenses, and includes sections with new questions on governance, compensation, and expenses.

(Washington, D.C., June 14, 2007) -- Increased transparency is critical to maintaining the public trust on which nonprofit organizations depend to do their work in improving people’s lives. Independent Sector has long pushed for changes to the Form 990 that would more clearly present information about tax-exempt organizations’ finances, governance, and accomplishments. We are pleased that the effort announced by the IRS today is a significant step forward to increasing transparency. Independent Sector will be working closely with member organizations to carefully study the details and develop recommendations to strengthen the drafts.

More information about the changes to the Form 990 is available by clicking here.

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Independent Sector is a nonprofit, nonpartisan coalition of approximately 575 charities, foundations, and corporate philanthropy programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the charitable community.