In a two-part blog post published on the Foundation Center's Web site, Commonwealth Fund executive vice president and chief operating officer John Craig proposes ways to modernize the 990-PF tax form—which the IRS uses to regulate private foundations. In part one, Craig outlines the problems with the current tax return system for foundations. In part two, he proposes ways to modernize the system to promote transparency and accountability, and "to strengthen the sector's own self-regulatory efforts to ensure effective use of the nation's philanthropic resources." Also see John Craig's essay on this topic for the 2010 Commonwealth Fund Annual Report.
