Examples Of Conflict Of Interest For Board Members
Description
How to fill out Sample Attorney Conflict Of Interest Waiver Letter?
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FAQ
A conflict of interest exists when a board member, officer, staff member, or volunteer has a vested interest in money, status, relationships, or reputation that has the potential to compromise their actions, judgment, or decision-making.
What to do when you have a conflict of interest As soon as you encounter a possible conflict of interest, notify the board immediately. ... Ask not to be posted any board or internal papers that discuss the matter. Avoid any informal discussions that might influence fellow board members on the matter.
Policy Statement In furtherance of this duty, it is the policy of XYZ that directors may not use their position as directors for personal, family, or professional gain. Directors may not obtain for themselves, their relatives, or their friends a financial or material interest of any kind from their connection with XYZ.
I have reviewed [Name of Nonprofit's] conflict of interests of policy and I understand that it is my obligation to disclose a conflict of interests, or appearance of a conflict, to the chair of the board when a conflict, or appearance of a conflict, arises, and that for transactions in which I have a conflict, I will ...
Examples might include: The chief executive of the organization is a spouse or close relative of the board member. The board candidate is also the chief executive of an organization with a similar mission and program structure.