This just in! According to a BoardSource e-blast on December 18, 2015, there is a proposed nonprofit federal regulation. The political newspaper published in Washington D.C., The Hill, reported that nonprofits will need to collect donor Social Security numbers as indicated by a new IRS proposed requirement.
What do you think about this proposed regulation? (Feel free to comment below.) The first big concern seems to be that many nonprofits do not have the resources to secure sensitive information and including from hackers. Tim Delaney, author of The Hill article and President/CEO of the National Council of Nonprofits, mentions that there are over 34,000 comments as of December 16, 2015. There are now nearly 38,000 as of December 22, 2015. The second biggest concern is that people will not give as often, said Delaney.
Read the full The Hill online article, click here.
Read the entire Federal Register with the IRS proposed requirement, click here.