Accountability. Transparency. Compliance. These three
principles form the bedrock of best practices in nonprofit
governance and are at the heart of a lively debate that has
unfolded over the past five years. But as the saying goes, the devil is in the details.
I would wager that most governing board members do not
associate the realization of these principles with the task of completing Form 990, the Internal Revenue Service
information return filed by most tax-exempt organizations. To most trustees, tax forms are best left to accountants, the chief financial officer, and the audit committee.
But with the introduction this year of an all-new IRS Form
990, the time has come to discard this detachment. This
means that board members will need to accept and embrace
their role in enabling their organization to prepare the form in a manner that demonstrates that the institution is well governed.
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