Glossary
A promise to give that depends only on passage of time or demand by the promise for performance.
Income received by an organization for which no service or good is given. Normally this refers to charitable donations made by foundations, government, corporations, or individuals.
The public recording of the security interest held by the lender in association with a debt obligation. The UCC filing helps to secure the loan and establish the payment priority of the creditor, as well as specify the collateral.
Gain or loss that has not become actual. It becomes actual when the asset in which there is a gain or loss is actually sold. Also called a paper gain or loss.
Gross income from any unrelated trade or business, as defined in Section 512(a) of the Code.
The part of net assets of an organization that is neither permanently restricted nor temporarily restricted by donor-imposed stipulations.
Revenues or gains from contributions that are not restricted by donors.
A loan issued and supported by the borrower's creditworthiness and not secured by corresponding collateral. As an example, a foundation having a longstanding relationship with a grantee, having done satisfactory due diligence, and having documented justification, terms and a clear repayment plan may find it appropriate to issue an unsecured loan to the nonprofit.
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