Hello, I'm Michael Watson, joined by Sarah Lee, and this is Capital Research Centers, Who Funds That Podcast?

Today, we've got a very important and exciting topic to cover, the nonprofit tax

return for 990. Please don't turn your podcast dial. This actually matters way more than

you think, even if you're not a nonprofit accountant, because 990 disclosures are so very

important to discovering who funds that in nonprofit advocacy.

The Trump administration has proposed major changes to the 990 that in its own, in Treasury's

words, are intended to detect misconduct and hold wrongdoers accountable.

We've invited our colleague Robert Stilson, who has written extensively on fixing the nonprofit

tax return to offer his ideas on what the Trump administration should do.

Okay, Robert, elevator pitch time.

Why should Joe and Jane Public care about nonprofit tax returns?

Well, this is the primary source of all the financials and operational information that the public

can have about nonprofits, right?

I mean, this is what they file every single year.

So if you see a charity or 501C4 social welfare organization or anything else that operates

in the tax-exempt sector and you want to know more about it, the 990 is what you need

to consult.

And as I understand the revisions that are

being proposed, they're looking at a couple, a couple areas of the 990 that traditionally

have been less transparent than others. What disclosures is the current 990 giving and what is it

not giving that maybe it should? Yeah. I mean, any sort of top line financial

information, revenue expenses, details of each grants, all that stuff is on there. Plenty more

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