This summer, the Senate Finance Committee is deliberating on a bill that would do for the nonprofit sector what the Sarbanes- Oxley Act did for the private sector: establish stricter financial reporting requirements for organizations operating in the United States. Several groups have presented recommendations to the committee, including Independent Sector, which is a coalition of nonprofits, foundations, and corporations. In a few short months, Independent Sector appointed a 24-member Panel on …

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