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  • Name Of Organization Conflict Of Interest Policy Section ...

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Name of organization CONFLICT OF INTEREST POLICY SECTION 1. PURPOSE: is a nonprofit, tax-exempt organization. Maintenance of its tax-exempt status is important both for its continued financial stability.

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Put simply, a conflict of interest policy sets out the procedures your employees must follow if a direct conflict or a potential conflict arises. Therefore, it is important that you clearly state in your policy when an employee's personal interest would conflict with your company's interest.

Example 1: An organization purchases insurance coverage through a firm owned by a board member. This would constitute a conflict of interest. Even though insurance purchases might normally be a CFO's or business administrator's function, a transaction with a board member must always be approved by the board.

As an example, contractors that have an opportunity to assess themselves, affiliates, or competitors under a separate contract or evaluation of proposals could be considered an OCI due to impaired objectivity. It doesn't matter if the contractor gave biased advice.

The sole purpose of a Nonprofit Conflict of Interest Policy is to protect the 501c3 tax exempt nonprofits from conducting inappropriate business or make arrangements with its officers, directors, trustees, persons of interest, or anyone who would benefit directly or indirectly from public funds of the nonprofit ...

With that in mind, there are three broad categories of OCIs: unequal access to information, biased ground rules, and impaired objectivity.

Put simply, an OCI exists where a reasonable person could question the fairness of a contractor's involvement in a specific procurement. With that in mind, there are three broad categories of OCIs: unequal access to information, biased ground rules, and impaired objectivity.

A conflict of interest policy is an official document that outlines the procedures for team members when a conflict occurs between their personal interests and the interests of the organization.

A conflict of interest occurs when an individual's personal interests – family, friendships, financial, or social factors – could compromise his or her judgment, decisions, or actions in the workplace.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232