Board Member Loan Documentation and 990 Reporting Guidance

We'd like to connect with a skilled nonprofit finance or accounting professional who can help us review and properly document a $50,000 loan provided by a board member. The consultant will review our existing loan and financial documentation, provide guidance on how the transaction should be recorded and reported for IRS Form 990 Schedule L, and recommend any additional documentation we should maintain.

Deliverables include:

-A review of the existing documentation related to the $50,000 board loan
-Written guidance for reporting the transaction on IRS Form 990 Schedule L
-Recommended ledger entries for accurately recording the loan
-A simple documentation checklist identifying records the organization should maintain
-Recommended next steps or questions to discuss with our accountant or tax professional, if needed