Smart regulations that limit executive compensation, administrative costs, improve efficiency and innovation, while protecting whistle-blowers would ensure that public money is being used in the best manner possible to meet the needs of the communities the organizations serve.
In addition to smart regulations that are enforced, a rating system similar to the credit rating system, based on the whether or not the organization is meeting its stated goals is needed.
"There needs to be a streamlining of the regulatory system which is supervised by a single federal agency similar to the Securities and Exchange Commission, which places limitations on the percent of money dedicated to fundraising, executive compensation and other administrative costs. In addition there needs to be laws in place that require independent quarterly audits of all nonprofits regardless of their purpose or their religious status which then makes this information easily available to the public, sort of a sunshine act for nonprofits with an audit component," Said Jason McGaughey.
In the military they have a saying on the ground level that although it doesn't apply higher up in the ranks much less in the Pentagon where the taxpayer would benefit the most it does keep the military world running very smoothly on the combat field. That saying is Keep It simple Stupid or K.I.S.S., it is this mentality drilled into young NCO's that gets nearly everything done and if applied in the civilian world improves productivity everywhere it is implemented.
If you've ever worked in anyway with government on any level with federal, state or local you already know how burdensome bureaucracies can be, having different agencies doing the same job and creating a mind boggling amount of paperwork to be filed in triplicate with every hand that must touch them lest they be lost, and still they may find themselves in the trash file.
This is somewhat of an exaggeration, but you get the point, simple is almost always better and one agency doing something is more than enough.
Creating a single federal agency responsible for regulatory oversight and enforcement of problem/solution focused regulations would save the taxpayers hard earned money while ensuring that there is adequate oversight to prevent both the burden of over regulation, while ensuring that nonprofits don't misuse either public or donated funds and still are able to meet their expected goals efficiently.
One of the biggest problems in the nonprofit world is sadly the same one we see in other areas of the economy, which is to say executives that make more money than they are actually worth, with bonuses and benefits that they never earned, at the expense of those they are supposed to be beholden to.
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