Happy New Year!
Often times non-profit organizations need to borrow money to meet operating expenses, like many for-profit businesses. A prudent manager will see borrowing as a temporary solution. I think it is OK for a non-profit to borrow as long as the spending is income-based, that is there is reasonable assurance that income is sufficient to repay the debt. What are your thoughts about non-profits borrowing?
Jerry M. Stai, NRS, Minot
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