Independent Sector President and Chief Executive Officer Diana Aviv registered some displeasure with the new guidelines. She told BNA that while Treasury made considerable improvements in the latest version of their voluntary guidelines, "there continue to be areas where the guidelines do not reflect best practices agreed upon by all charitable organizations."

For example, she said the revised guidelines "misquote the Panel on the Nonprofit Sector, which recommends that organizations with annual revenues of $1 million or more should have an annual audit of their financial statements, as opposed to the $250,000 level cited in the revised guidelines."