Colorado Nonprofit - Conduct Policies for Board Members
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How to fill out Nonprofit - Conduct Policies For Board Members?
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FAQ
So, we can see that a code of conduct is a written statement that sets out the rules and conditions around being a board member, that each board member should be aware of, the company values, and how these terms may be enforced.
A conflict of interest exists when a member of the nonprofit board has a personal interest that may influence them when making decisions. While the law focuses primarily on financial interests and provides some guidelines, nonprofit organizations contend with various potential and perceived conflicts of interest.
Board members should be as open as possible about all the decisions and actions they make. They should give reasons for their decisions and restrict information only when the wider public interest clearly demands it. Honesty.
Board members are expected to provide legal and financial governance, promote the organization in the community, and recruit and support the staff as they run the organization's daily operations. You need only one director in Colorado, but at least three for your nonprofit to become tax-exempt with the IRS.
A code of conduct guides the behavior of your board members, and it serves as a set of principles to guide their decision-making and other activities. Your code of conduct policy ensures that your board members are accountable for the decisions and choices they make.
Types of codes of conduct integrity. objectivity. competence. confidentiality. professionalism.
Refusing to accept or complete tasks. failing to disclose conflicts of interest. monopolizing board discussions, or simply not participating in the conversation at all. behavior disrespectfully toward the board president and other members.
As a result, at a minimum, the board should review and approve: Mission statement. By-laws. Financial and operations policies and procedures, including internal controls. Annual operational budget for (PLACE YOUR INFO HERE) (not individual projects) Annual Audit results. IRS Form 990. Insurance. Employee Manual.