Includes index.

What is a nonprofit organization -- Starting a nonprofit organization -- Debunking some myths and misperceptions -- Nonprofit organizations : much more than charity -- Nonprofits and private benefit -- From nonprofit to tax-exempt -- Charities : public or private? -- Governance : board duties and liabilities -- Braving annual reporting -- Tax exemption : not a paperwork exemption -- Charitable giving rules -- Government regulation of fundraising -- Related or unrelated? -- Lobbying constraints - and taxes -- Political campaign activities - and more taxes -- Donor-advised funds, tax-shelters, insurance schemes - and still more taxes -- Subsidiaries : for-profit and nonprofit -- Joint venturing and other partnering -- Wonderful world of planned giving -- Putting ideas into action -- Watchdogs on the prowl -- Potpourri of policies and procedures -- Commerciality, competition, commensurateness -- IRS audits of nonprofit organizations -- Avoiding personal liability.

Nonprofits must comply with stringent federal and state regulations due to their special tax-exempt status; the government's ultimate threat is revocation of a nonprofit's tax-exempt status, which usually means the nonprofit's demise. Written in plain English, not "legalese," this book provides essential guidance for those interested in starting new nonprofits, as well as valuable advice for directors of established organizations. This easy-to-read resource contains essential information on virtually every legal aspect of starting and operating a nonprofit organization from receiving and maintaining tax-exempt status to tips for successful management practices.

The Fifth Edition includes updates to areas that have changed dramatically in the wake of new law. These areas include: corporate governance principles, compensation issues, private benefit doctrine, political campaign activity, the new form 990, endowment funds, and IRS audits activity.