Conflicts of interest policies for non-profits

Posted on: 2/15/11 by Kevin P. O'Leary, CPA

Don't get too far into your fiscal year having not updated your conflict of interest policy. Each board member, officer and/or highest paid employee if in a management position should be signing to the fact that no conflicts are outstanding or if they are, then they disclose the circumstances for the rest of the board to discuss. The 990 and the 1023 both ask about an organization's conflict of interest policy so I would strongly recommend your organization having one especially if you are a 501(c)(3) and receive contributions.

If you need an example of one shoot me an email or you can also google it and there are some pretty good pre-canned ones out there as well. If you have one and would like me to take a look at it I can but I would highly recommend having your attorney take a look at it as well

On another note don't forget about our free webinar on sales tax tomorrow from 12-1pm.
https://www2.gotomeeting.com/register/657762242

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