Corporate & Securities Law

Can the Nonprofit World Govern Itself?

In the wake of several high-profile charity scandals and with observers predicting that Congress will pass legislation similar to the Sarbanes-Oxley Act for nonprofit organizations, Independent Sector convened the Panel on the Nonprofit Sector to create a set of guidelines designed to help groups govern themselves.

Those guidelines, which spell out principles of governance, fund-raising, and management that charitable groups should follow, were approved in October. But several key questions remain. Will nonprofit leaders pay attention to them? Do they go far enough? Are the guidelines enough to satisfy those on Capitol Hill who want to pass new legislation to regulate charities?

Full post as published by inside Sarbanes Oxley on January 15, 2008 (boomark / email).