Senate Finance Committee to Hold Roundtable on Nonprofit Issues - July 12, 2004 Vol.5, No.14

July 12, 2004 Vol.5, No.14:

Published: 07/12/2004

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Senate Finance Committee to Hold Roundtable on Nonprofit Issues

The Senate Finance Committee recently announced it will hold a roundtable discussion Thursday, July 22, on issues concerning exempt organizations. The two main purposes of the roundtable are to follow-up on the committee's hearing on charities, and to further review the staff's discussion draft regarding proposed reforms to exempt organizations.

On June 22, the committee held a hearing on charitable governance reform. Witnesses addressed a wide range of issues on governance, accountability and enforcement of tax laws. On that same day, the committee's staff released its draft discussion paper with proposals for reform in governance, conflicts of interest, grant-making, federal-state coordination, reporting and disclosure, boards of director responsibilities, best practices and funding for enforcement.

Now the Senate Finance Committee is extending the opportunity to comment to nonprofit organizations nation-wide. The committee chairman recognizes the expertise in the tax-exempt field and would like the field's viewpoints to be heard. If you are interested in providing the committee with comments, please take time to review the staff's draft discussion paper on proposed reforms to exempt organizations. You can also read OMB Watch's summary of the draft.

Submit your comments to the Finance Committee by the close of business on Friday, July 16. Written submissions can be sent by email to the Finance Committee at charities@finance-rep.senate.gov. Those who submit comments may also request to attend.

It is extremely important that the Senate Finance Committee hear the viewpoints of state and local nonprofits. Read Senate Finance Committee Holds Hearing on Nonprofits for more background information on the hearing. If you have additional questions, please call (202) 234-8494 and ask for Kay Guinane or Abbey Tyrna.