I started a non-profit 501 c3 ,with my husband five years ago. It was only a year and half ago that we began getting a salary. Our board recently voted that we were entitled to our back pay now that we are more financially stable. The question I have is that my father-in law is very savvy about stocks etc. but not about giving donations as a way to decrease tax liability. He already is giving us the max in parental giving per year. Is it kosher for him to give the company a donation that we can use towards the back pay and if it is should we take the money as regular money and pay the taxes up front or should we put them into a 403b? We already have a good amount in mutual funds from his annual parent gifts, so how can we best deal with this situation? Thanks for any info .
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