July 26, 2007 | Read Time: 1 minute
The Internal Revenue Service’s proposal to overhaul the Form 990 informational tax return is generating plenty of talk throughout the nonprofit world.
The Urban Institute in Washington’s National Center for Charitable Statistics and Guidestar are hope to stimulate an exchange of ideas on its new Form 990 Wiki.
The site — modeled on the popular online encyclopedia Wikipedia — gives people a chance to review the new form and post comments about the proposed changes.
The effort is earning praise from Lucy Bernholz, a consultant to foundations and donors, who calls the revision a “once-in-a-lifetime” chance for the public to shape the way nonprofits report their financial information.
“The data on these forms is the primary source of information about nonprofits,” writes Ms. Bernholz on Philanthropy 2173. “These data are used by GuideStar, Charity Navigator, the Better Business Bureau, major foundations, and individual donors. Accurate and useful 990 data are critical to the media. $290-billion in U.S. giving to nonprofits depend on these data, directly or indirectly. So, yes, the forms matter. Help make them better.”
What do you think of the proposed changes to the Form 990? Click on the comments link below this post to share your thoughts.
