New law would require more transparency for non-profit organizations

Using a loophole in the current law, some non-profit companies that receive public funds are not required to disclose the salaries of their executives. By forming a private for-profit management company to handle executive salaries, the non-profit avoids the disclosure requirements.

In reports published by The Tribune, it was revealed that the salaries of some executives grew at rates much higher than salaries in the private sector.  State Rep. Greg Harris has proposed legislation that would close the loophole to require publicly funded non-profits to disclose the salaries of their executives even if paid through a private for-profit company.

For the full story see, “Bill seeks greater transparency of nonprofits’ pay data.”