Conflict-of-Interest Policy

Article I: Purpose

To protect the non-profit's interests when contemplating entering into a transaction that might benefit the private interests of an officer, director, or key employee.

Article II: Definitions

  1. Interested Person: Any director, principal officer, or member of a committee with governing board-delegated powers who has a direct or indirect financial interest.
  2. Financial Interest: Anything of monetary value or potential monetary value where the Interested Person has a stake.

Article III: Procedures

  1. Duty to Disclose: Interested Persons must disclose potential conflicts to the board.
  2. Recusal: Interested Persons must recuse themselves from discussions and voting on the matter.
  3. Board Decision: The remaining board members decide if a conflict exists and how to proceed.

Article IV: Records

Minutes of meetings must outline the proceedings and resolutions regarding the conflict.

Article V: Annual Acknowledgment

All Interested Persons must sign an acknowledgment of this policy annually.

Article VI: Violations

Violations of this policy may result in removal from board or position.