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CONFLICT OF INTEREST POLICIES
Discussion
"A conflict of interest policy consists of a set of procedures
to follow to avoid the possibility that those in positions of authority over an
organization may receive an inappropriate benefit." [IRS]
Conflict of interest policies are designed to identify potential conflicts and to manage them in such a way that a nonprofit board can reach informed decisions
that guard against the possibility of any individual receiving an inappropriate
benefit. They also provide a process requiring disclosure and recusal
of board members who may benefit from the decision. The objective is to ensure
that no individual benefits personally or professionally from decisions of the
board or benefits from the activities of the organization at the expense of the
greater good of that organization.
Helpful resources
The IRS has a sample nonprofit conflict of interest policy posted at:
http://www.irs.gov/instructions/i1023/ar03.html
See also NAVREF Sample Conflict of Interest Policy
http://www.navref.org/library/Conflict_Interest_Policy_NPCs.htm
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