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nytcpa2012
nytcpa2012
Level 5
July 12, 2021

contributions vs loans to NFP

  • July 12, 2021
  • 1 reply
  • 2 views

Can an individual how started an NFP, and who is still active as an Officer and Board member make LOANS to the NFP?  

Are there limits on that or on contributions from a "founder"?

Seems like many NFP's require a lot of $$ infusions from those starting it up to get on their feet.  What is the proper way to handle those infusions?

    This topic has been closed for replies.

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    July 12, 2021

    Yes they can make loans. Document with loan agreement. Charge interest.

    It will be disclosed on the 990.

    Do they think they will get repaid? Or is it really a donation?

    The more I know the more I don’t know.
      nytcpa2012
      nytcpa2012Author
      Level 5
      July 12, 2021

      Thank you!  Yes, at some point they do expect to be repaid. They are really starting to take off in 2021.

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