Release Date: 12-07-2004

For information, contact:

Jeanne Ellinport
(202) 467-6163
jeanne@nonprofitpanel.org

(Washington, DC, December 7, 2004) - The Panel on the Nonprofit Sector, created at the encouragement of the U.S. Senate Finance Committee, announced today the appointment of members to five Work Groups. These groups will assist the Panel as it prepares recommendations for Congress on improving the oversight and governance of charitable organizations.

The Work Groups will cover:

• Governance and Fiduciary Responsibilities -- see the biographies of the Work Group's members (.pdf, 191 kb).

• Legal Framework -- see the biographies of the Work Group's members (.pdf, 191 kb).

• Oversight and Self-Regulation -- see the biographies of the Work Group's members (.pdf, 191 kb).

• Small Organizations -- see the biographies of the Work Group's members (.pdf, 191 kb).

• Transparency and Financial Accountability -- see the biographies of the Work Group's members (.pdf, 191 kb).

They will consider modifications to existing laws and practices; examine areas where self-regulation is more appropriate, and suggest where further research is needed. The Finance Committee asked that the Panel provide a report of its initial findings and recommendations by February 2005 and a final report in the spring of 2005. The Panel on the Nonprofit Sector is part of a yearlong focus on charitable organizations and was convened by INDEPENDENT SECTOR at the encouragement of the Senate Finance Committee.

“I am deeply heartened by the willingness of so many highly qualified individuals to give us the benefit of their expertise,” said M. Cass Wheeler, president and CEO of the American Heart Association and co-convener of the Panel. “Their talent and dedication will enable us to respond to the Finance Committee in a timely and thoughtful way and to reinforce the place of the nonprofit sector in America’s society.”

“Not only the nonprofit sector, but indeed all of society, has a vital stake in strengthening the transparency, good governance, and accountability of voluntary organizations,” said Panel member William S. White, chairman, president and CEO of the Charles Stewart Mott Foundation.

“With the announcement today that so many distinguished and highly skilled leaders have agreed to serve on the Work Groups, we have taken a very important step in meeting our commitment to make recommendations to the Finance Committee on improved governance, oversight and transparency.” said Diana Aviv, president and CEO of INDEPENDENT SECTOR, a nonprofit coalition of approximately 600 organizations, foundations, and corporate philanthropy programs.