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GenerUs Inc.'s board of directors approved a charitable cash contribution to FoodBank, a qualified nonprofit organization, in November of 2019. GenerUs made the payment to FoodBank on February 2, 2020. GenerUs Inc. (a calendar-year corporation) may claim a deduction for the contribution on its 2019 tax return.
Borrow
The act of receiving funds from a lender with the agreement to return the principal amount along with interest or other charges, if applicable.
Assets
Economic resources owned or controlled by a person or entity that are expected to produce value or benefit in the future.
Assets
Resources owned by a company or individual that have economic value and can provide future benefit.
Debt Outstanding
The total amount of borrowed money that a company or government has not yet repaid to creditors or bondholders, including both principle and interest.
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