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September 29, 2015

NYC Bill Would Compel Fiscal Disclosure by Charity CEOs

New York Mayor Bill de Blasio has declared his opposition to a proposal before the City Council that would require the heads of taxpayer-funded nonprofits to submit conflict-of-interest and financial-disclosure forms, Politico New York reports.

Councilwoman Elizabeth Crowley said her bill was prompted by a scandal over spending by the former chief executive of the nonprofit Queens Library system, who is under city and federal investigation for allegedly plowing public funds into personal expenses. The measure calls for the leaders of charities that get city money to disclose business interests from which they or a spouse derive at least 10 percent of their income.

Mayoral spokeswoman Ishanee Parikh said, "We do not believe this bill is the right approach to our shared goal of ensuring transparency for nonprofits" and that City Hall would work with the council "on determining the best way to achieve this goal."