Revised 990 Form Calls for Tools for Good Governance

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Beginning with the 2009 tax reporting year, exempt organizations must provide significantly greater information on the manner in which they operate, manage their funds, compensate top officials, and allocate their resources to exempt activities. As Sarah Hall Ingram, the IRS' Commissioner of Tax Exempt and Governmental Entities said recently "the rubric of ‘good governance' is the development by each organization of a system of internal controls that is appropriate to the organization itself . . . to minimize the risk of events occurring that contravene the Code's requirements for tax exemption."

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