a new not for profit regulator?

The Treasury Department is calling for submissions in response to a discussion paper on a scoping study for a new regulator for the not for profit sector in Australia.

Some of the proposed functions of the regulator could include:

• registering and regulating NFP organisations;
• educating the sector and encouraging compliance;
• educating the public about the role of NFP organisations; and
• developing and maintaining an accessible, searchable public information portal;
• assessing the eligibility of NFP organisations for Commonwealth tax concession status;
• endorsing and maintaining a register of endorsed organisations;
• providing a single reporting portal for corporate and financial information; and
• investigating compliance with regulatory requirements;
• promoting public trust and confidence in the charitable sector;
• encouraging and promoting the effective use of charitable resources;
• processing annual returns submitted by charitable entities and
• monitoring charitable entities and their activities to ensure that registered entities continue to be qualified.

Here’s the paper.

Submissions are due by 25 February 2011 and can be emailed to NFPReform@treasury.gov.au

What do you think? Is a not for profit regulator necessary? Is there too much duplication currently? Are there too many agencies which not for profits need to deal with at the moment?

I look forward to your thoughts.

About ozphilanthropy

#Philanthropy. #arts Posts by Sharon Nathani, PhD candidate at the Centre for Social Impact, Swinburne focussing on philanthropic funders of the arts. Sharon's study is supported through an Australian Government Research Training Program Scholarship.
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