Description
Standards for Excellence 3.0
24 Conflicts of Interest
24.1: Why is a Conflict of Interest Policy Important? 6
24.1.2: What is A Conflict Of Interest? Definitions And Explanations 7
24.1.3: Who Does a Conflict of Interest Policy Apply To? (Board members, Staff, Key Volunteers) 7
24.1.4: How Can a Nonprofit Use Disclosure Statements to Identify Conflicts of Interest? 7
24.1.5: When Should an Organization Create a Conflict Of Interest Policy? 7
24.1.6: What does the IRS require? 8
24.1.7: Duality of Interests and Confluence of Interests 9
24.1.8: Perceived Conflicts and the Appearance of Impropriety – Policy In Action 10
24.1.9: Family Relationships 10
24.1.10: Other Business Interests 11
24.2: Establishing a Conflict of Interest Policy 12
24.2.1: Identifying Conduct that Could Raise a Conflict Concern 12
24.2.2: Steps for Preparing a Conflict of Interest Policy 13
24.2.3: Disclosure 13
24.2.4: Independent Review and Approval 15
24.3: Supportive Policies and Practices 15
24.3.1: Gifts/No-gifts Policy 16
24.3.2: Practices Relating to Monitoring Conflicts of Interest (Role of Governance Committee, Record Keeping) 17
24.3.3: Managing Conflicts of Interest in Board Meetings (Steps and Practices) 17
24.3.4: Annual Disclosure of Conflict of Interest– Why Annually 17
Selected Resources for Conflicts of Interest 18
Attachments 19
Attachment 24A Model Conflict of Interest Policy 20
Attachment 24B Model COI Annual Affirmation of Compliance and Disclosure Statement 24
Attachment 24C Questionnaire on Relationships and Independence 28
Attachment 24D Sample Gifts to Staff Policy 29
