The Internal Revenue Services Exempt Organizations division will continue to dig into not-for-profit governance and will deliver its previously promised follow-up report offering the IRS take on hospital community benefits and executive compensation, according to a work plan for fiscal 2009 posted this week.
According to the work plan, the division intends to generate a checklist that will help agents determine when governance is a factor in compliance issues raised during examinations, as well as educate division employees about the IRS governance views put forth in determinations, rulings, agreements and outreach. The division also plans to comb through its redesigned Form 990 for information, such as executive compensation and diversion of exempt assets, that could be used in compliance initiatives.
The plan promises a continued effort to make IRS speakers available for forums, speeches and workshops in order to help organizations adjust to the more expansive Form 990. As we receive the new 990s, we will begin to evaluate the information reported; interact with the regulated community to obtain feedback of any challenges encountered; and assess whether the form is serving its intended purpose, the document states. -- by Gregg Blesch