Can I Get A Loan?

CHJCC Filing For Fiscal Year 2008-2009

Regarding: Crown Heights Jewish Community Counsel Inc.

Definition: What Does Receivables Mean?
An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company’s accountants and reported on the balance sheet, and they include all debts owed to the company, even if the debts are not currently due.

Who are the directors who took these loans?

The loan amount for the beginning of the year was 52K.  Someone or others took another loan/s because by the end of the year the balance was 92K.

Who took out these loans and for what?

How long was these loans open?

When he/they are going to pay it back?

Who authorize these loans?

Who is in charge collecting them?

Will these loans  eventually be written off  like the 56K bad debts? *

Does the CHJCC charge any interest on the loans?

What more interesting is that the CHJCC are suppose to attached a special statement called Schedule L with their 990 and WIS did not find it on any public records. Could be the CHJCC never submitted the schedule which is illegal.

Schedule L (Form 990 or 990-EZ) is used by an organization that files Form 990 or 990-EZ to provide information on certain financial transactions or arrangements between the organization and disqualified person(s) under section 4958 or other interested persons. Schedule L is also used to determine whether a member of the organization’s governing body is an independent member for purposes of Form 990, Part VI, line 1b.”

* The CHJCC filed 56K in bad debts.
What are these debts the CHJCC are giving up on?
How long was this dept outstanding and from who?
Just to mention that the year before there was no bad dept.


3 Responses to “Can I Get A Loan?”

  1. CPA Says:

    Check the bylaws to verify if they are allowed to give out loans to begin with.

  2. Eli S. Says:

    Let me understand this.

    What stops a company or Corp. from making a payment to someone or simply pocking the money and later marking it off as loan?

  3. pay way high Says:

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