The Greater Baton Rouge Business Report � It�s Your Business to Know: "No slack for charities
Nonprofit CEOs and boards are soon likely to see stricter federal rules on how they operate
By Chris Gautreau, Contributing writer
Posted: 10.26.04 - 03:30 PM
At their best, charitable groups have worked tirelessly over the decades to help the less fortunate. At their worst, they've been tools of financial abuse, providing lavishly compensated executives with tax shelters and a shield from regulators and the unsuspecting public.
Federal lawmakers, fresh off their wrath against big corporate scandals, are now setting their sights on nonprofit corporations, at least those of the less honorable variety. The post-Enron reform that sought to remedy how publicly traded companies handle their accounting books, profits and governing boards appears headed for the charitable sector.
That means the people who run and serve on the boards of local nonprofits may soon find their stewardship under far greater scrutiny. "
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