#conflictofinterest #boards
Most nonprofit discussions about conflicts of interest focus on financial benefit to board members or staff to the detriment of the nonprofit organization. But nonprofit conflicts of interest are often more nuanced, involving conflicts of loyalty, complex relationships, or benefits/conflicts for...
Maine's Nonprofit Corporate Act defines conflict of interest transactions and the IRS Form 990 asks organizations to indicate whether they have adopted a conflict of interest policy. While having a written policy is not legally required, it is a strongly recommended practice and the IRS may...
Sample from Public Charity, annotation by Bernstein Shur #boards #orgpolices
Annotated-Conflict-Policy-Template-Public-Charity.pdf
A conflict of interest policy is one of several policies the IRS asks about on the annual 990 series return, and having a written policy is strongly encouraged. The IRS provides a sample policy. MANP encourages organizations to adapt any sample policies to apply to their particular...
It is essential for nonprofit leaders and board members to be familiar with what constitute "conflict of interest transactions" and a conflict of interest policy is one of several policies the IRS asks about on the annual 990 return. #boards #conflictofinterest