Candid is proposing 205 changes to its Philanthropy Classification System (PCS) taxonomy. The PCS is crucial for organizing and making sense of the vast amount of data Candid handles. The proposed changes are based on input from various organizations and partners, and Candid is now seeking public comment on them until August 5, 2023. The goal is to ensure that the PCS accurately reflects the work of the sector and incorporates valuable insights from stakeholders.
The PCS was developed in 2015 as an expansion of the National Taxonomy of Exempt Entities (NTEE) used by the IRS. It covers subjects, populations, support strategies, transaction types, and organization types. In early 2022, Candid sought recommendations to improve the taxonomy, receiving over 600 suggestions from multiple organizations and Candid staff. These recommendations underwent an extensive internal review process, considering factors such as relevance, user intuitiveness, alignment with standards, and feasibility. After applying rigorous criteria, 205 proposed changes remained, which are now open for public comment.
Although the PCS is not expected to be perfect due to the evolving nature of the sector, Candid is committed to making it better. They appreciate the thoughtful recommendations received so far and encourage broader feedback during the public comment period. Candid staff will review the comments in August and September and share the finalized changes with the sector in the coming fall. The aim is to ensure that the updated PCS accurately represents the work of non-profits, facilitates data accessibility, and supports informed decision-making by stakeholders.
Click here to read the original article published by Candid.
Please give your feedback on this article or share a similar story for publishing by clicking here.
