IRS requires not-for-profits to disclose more info: Organizations gearing up for new rules in 2009

For the first time in decades, the Internal Revenue Service is making a major revision to the way not-for-profits disclose information about their finances, governance and operations. Coming in the wake of scrutiny from federal lawmakers and regulators alike, the changes to IRS Form 990 that take effect next year require not-for-profit leaders to provide more information on executive compensation and potential conflicts of interest, for example. And for the first time ever, most organizations will be required to file...

 

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