The Omnibus Budget Reconciliation Act of 1993 (or “OBRA93”) contained two major provisions affecting charities and their donors by introducing the "substantiation" and "disclosure" requirements.
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One of the top priorities for a not-for-profit organization's (NFP's) Chief Executive Officer (CEO) is the proper stewardship of the NFP's assets. Stories of fraud, waste, and abuse in the business world are all too common, and unfortunately NFPs suffer from these same problems. Because overseeing an NFP's programmatic and mission functions can take most of a CEO's time, many busy CEOs struggle to fulfill their stewardship obligations while attending to their other, and seemingly more pressing, duties.