What is the Conflict of Interest Policy?
Conflict of Interest: Nonprofits adopt a conflict of interest policy in order to resolve problems that may occur. A Conflict of Interest policy is required by IRS Form 990.
The key for nonprofit boards is not to try to avoid all possible conflict-of-interest situations, but to identify and follow a process for handling them effectively. How an organization manages conflicts of interest and assures open and honest deliberation affects all aspects of its operations and is critical to making good decisions, avoiding legal problems and public scandals, and remaining focused on the organization’s mission.
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