Loan from General Fund to Pastor
We have a small 200-300 member church located in Maryland.
Recently the air-conditioning/heating unit at our pastor's residence went bad. (he does use a housing allowance for tax purposes.
With a promissory note signed, are we OK with loaning him $7500 for the repair? Any tax issues? Legal problems?
Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!