No, if it was characterized as a donation on the non-profit's financials, after the loss of non-profit status the amount will be treated as revenue unless the donation legalese contained a conversion clause.
But conversion clauses are extremely rare. 99.9999% of the time, if a donor is concerned that an entity will do something to jeopardize or deliberately lose its non-profit status, they simply won't make the donation.
Or can they convert to equity, then it's not income.