conflict of interest

All Seniors Foundation Conflict of Interest policy for your nonprofit organization that links seniors with free healthcare resources.

1. Purpose: This policy is designed to ensure that all decisions and actions are made in the best interest of the nonprofit and the seniors we serve.

2. Definition: A conflict of interest occurs when an individual's personal interests, relationships, or financial affairs may compromise their judgment or decisions regarding the organization's activities.

3. Disclosure: All board members, staff, and volunteers are required to disclose any real, potential, or perceived conflicts of interest as they arise and on an annual disclosure form.

4. Abstention from Vote: Individuals with a conflict must not vote or influence decisions on matters in which they have an interest.

5. Procedures The organization shall follow a standard procedure to address conflicts, which includes notification to the governance committee, documentation of the conflict, and a resolution strategy, such as recusal from related discussions and decisions.

6. Monitoring and Review: The policy will be monitored regularly, with conflicts being documented and reviewed by the board to ensure effective management and resolution.

7. Compliance with State and Federal Law: All policy aspects will adhere to applicable state laws and IRS guidelines, particularly the mandates of Form 1023 regarding conflict of interest policies (https://www.irs.gov/charities-non-profits/form-1023-purpose-of-conflict-of-interest-policy)].

## 🌐 Sources

1. [Nonprofit Conflict of Interest Policy template & sample for 501c3](https://form1023.org/nonprofit-conflict-of-interest-policy-501c3-template-sample)

2. [Identifying and Monitoring Conflicts of Interests in Nonprofit Organizations](https://keitercpa.com/blog/identifying-monitoring-conflicts-interests-nonprofit-organizations/#:~:text=For%20the%20most%20impact%2C%20the,receive%20adequate%20attention%20and%20resolution)

3. [Conflicts of Interest](https://www.councilofnonprofits.org/running-nonprofit/governance-leadership/conflicts-interest#:~:text=What%20should%20a%20conflicts%20of,which%20there%20is%20a%20conflict)

4. [Annotated Conflict of Interest Policy - Public Counsel](https://publiccounsel.org/publications/annotated-form-of-conflict-of-interest-policy/)

5. [Conflicts of Interest](https://www.councilofnonprofits.org/running-nonprofit/governance-leadership/conflicts-interest)

6. [Form 1023: Purpose of Conflict of Interest Policy | Internal Revenue Service](https://www.irs.gov/charities-non-profits/form-1023-purpose-of-conflict-of-interest-policy)