Research On The Information Disclosure Of Charity Organizations

Charity information disclosure system, also known as information publicity system,information disclosure system, refers to a system where charity, in order to guarantee theinterests of the donors, must be in accordance with the law will change its own financial andoperational status information and materials to the registration organ and the competentauthorities of the business report under the supervision of stakeholders, and public orannouncement to the society, so that the donor to tfilly understand the situation of the system.Establish effective information disclosure can improve the operation of chairtableorganizations transparency, the stakeholders’ right to know and to supervise theimplementation of the lawful rights and interests, to enhance credibility of charitablcorganizations. Also can win more sources of funds for charity, so as to enhance the capacity ofcharity fundraising, make the development of charity organization is full of vitality，promoteour country philanthropy health vigorous development, realize the charity.But at present, our country has not specialized legislation of charity, the chairtyinformation disclosure obligation to carry out the poor, the seirous inlfuence the developmentof philanthropy, unable to safeguard the legitimate rights and interests of stakeholders.Happily, China promulgated Public Welfare Charity Information Disclosure Guidelines(Hereinafter referred to as Guidance) has carried on the comprehensive regulation, but the ifleis the lack of coercive power, and the supervision of information disclosure，and legalresponsibilily no rules. So we must build more perfect inofrmation disclosure system in ourcountry timely.The purpose of this paper is to Guidance on the basis of existing，draw lessons fromforeign advanced experience and our country securities market information disclosure system,in addition to the preface and epilogue, from the body of the information disclosuer system,content, object, way, supervision and legal responsibilily of six sections.The ifrst part is the main body of information disclosure, namely the charity. Mainlyelaborates what is charity and the dednition and type of charitable organizations‘This paperargues that charity is committed to philanthropy, nonprofit organization, the Chinese RedCross association also belong to charitablc organizations, must be the obligation ofinformation disclosure.The second part is the content of information disclosure. The content of the disclosure of information in addition to the specified in Guidance, the author on the basis of comparingdomestic and foreign information disclosure content think that it should also be disclosed thearticles of association of the charity, the charity organization governance information, projectinformation, executive compensation, and management fees. Charity in the disclosure of theinformation must be ensure the truthtfilness, accuracy and adequacy of the disclosure.The third part is the objects of information disclosure. Principal-agent theory andstakeholder theory for the establishment of object provides a legal basis for informationdisclosure. The objects of informalion disclosure includs of donors and recipients, the socialpublic，government departments, institutions of the third-party evaluation and informationpublishing platform，the volunteers and the media.The foutrh part is the information disclosure way. Information disclosure way to choicemust meet the requirements of convenient access and standardization. Information disclosureways mainly include of regular publications and announcement, to set up the charity’s oiffcialwebsite information confcrence is held on a regular basis and the establishment of joint or apublic database.The fifth part is the supervision of information disclosure. Stakeholders is the main body,the supervision of information disclosure mainly includes industry self-discipline supervision,supervision of goverment, internal supervision and social supervision. These four types ofsupervision have their defects and problems, such as industry self-discipline supervisioneffect is bad，the national supervision function limited, lacking of charity organization internalsupervision, lacking of effective social supervision. To solve the above problems, first of all，by improving the professional self-discipline supervision and industry self-disciplinesupervision channels to strengthen self-discipline supervision: second, give full play to thesupervision of the state; Third，improve the system of charity organization of the board ofsupervisors should tighten internal supervision of charity; Fourth, by raising the publicawareness of rights to play a role of public supervision.The sixth part is the charity in violation of information disclosure of legal responsibility.The behaviors of the illegal informalion disclosure obligation mainly include false orstatements，or statements of misleading, improper disclosure or major omissions. For theseactions charity organizations need to bear legal responsibility. Legal responsibility mainlyincludes civil responsibility, administrative responsibility and criminal responsibility. Civilliability, we shall transfer the information disclosure obligations as a legal obligation，as charitable organizations for violating information disclosure obligations, donors revoked thedonation agreement or the administrative department of punishment to cause damage toproperty, charity supervisors should be in the name of charity, to court，claiming the directorsand senior management personnel responsible for the disclosure of information to the charityto compensate the corresponding loss. While the administrative ersponsibility mainly includes:the charity warning, informed criticism, shall be ordered to stop the activity, cancellationregistration and cancel its corresponding administrative punishments such as tax-exemptstatus; To responsible for the information disclosure of the directors and senior managementpersonnel shall be ordered to make corrections regulators can take talk, regulatory sanctions,issue a warning letter ctc. According to China’s criminal law and other relevant legalprovisions, the author thinks that criminal responsibility should increase the intensity ofpunishment, to urge the charity positive information disclosure obligations.