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Full text updated to reflect most recent IRS letter rulings, revenue rulings, and notices
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Expanded section on building nonprofit endowments
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Discussion of changes to uniform management of institutional funds act (UMIFA) found in 2005 draft of National Conference of Commissioners on Uniform State Laws
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Updated figures from the giving USA 2005 report on U.S. Giving from the American Association Of Fundraising Counsel Foundation
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Updated state by state figures showing number of returns, return with itemized deductions, return with charitable deductions, and dollar value of charitable deductions from IRS statistic of income bulletin
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Updated database, software, and publications vendor lists
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Updated section incorporating recent changes in vehicle and patents/intellectual property laws instituted in the American Jobs Creation Act of 2004 for nonprofits and donors
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New gift substantiation requirements under the American Jobs Creation Act of 2004
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Next section focusing on current issues involving charities and life insurance including charitable reverse split-dollar, dead pools, and investor owned life insurance (IOLI)
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New ruling requiring spousal disclaimer for valid charitable remainder trust in states where probate law permits allocation to marital share
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Details on gift annuities at the institutional level from the most recent survey of The American Council On Gift Annuities
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Expanded section on legislative oversight of charities and charitable giving
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Current calculations and examples
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