Loans From Nonprofit Board Members
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In many nonprofits, a time comes when the question arises: should the organization accept personal loans from board members? This article does not try to answer that question. It does try to outline - very briefly - some of the choices in how such loans can be made. Use this article as a starting point for a discussion with the board or a discussion with your personal financial advisor.
Blue Avocado is still the best resource I know for the whole gamut of governance issues. I was interested to note that one respondent opined that information regarding loans may have to be disclosed on a 990.
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