Conflict Of Interest Policy printable pdf download

CONFLICT OF INTEREST POLICY

Purpose

The purpose of the Conflict of Interest Policy is to protect the interests of the Tomorrow River

Community Charter School (TRCCS), a tax-exempt organization, when it is contemplating entering into a

transaction or arrangement that might benefit the private interest of an officer, Director, committee

member, member, or employee of the TRCCS or might result in a possible excess benefit transaction.

This policy is intended to supplement but not replace any applicable state and federal conflict of interest

laws applicable to nonprofit and charitable organizations.

Definitions

Interested Person



Any Board officer, Board member, member of a committee, or employee with Board-delegated

powers, who has a direct or indirect financial interest, as defined below, is an interested person.

Financial Interest



A person has a financial interest if the person has, directly or indirectly, through business,

investment, or family, any of the following.

o An ownership or investment interest in any entity with which TRCCS has a transaction or

arrangement.

o A compensation arrangement with the TRCCS or with any entity or individual with

which the TRCCS has a transaction or arrangement.

o A potential ownership or investment interest in, or compensation arrangement with, any

entity or individual with which the TRCCS is negotiating a transaction or arrangement.

Compensation includes direct and indirect remuneration, as well as gifts or favors that are not

insubstantial. A financial interest is not necessarily a conflict of interest. Under procedures, a person

who has a financial interest may have a conflict of interest only if the Governance Board or committee

decides that a conflict of interest exists.

Procedures

Duty to Disclose

In connection with any actual or possible conflict of interest, an interested person must disclose the

existence of the financial interest and be given the opportunity to disclose all material facts to the

Governance Board, and members of committees, or employees with

Board-delegated powers

considering the proposed transaction or arrangement.

Determining Whether a Conflict of Interest Exists

After disclosure of the financial interest and all material facts, and after any discussion with the

interested person, the Board officer, Board member, committee member or employee shall leave the

Date

Conflict Of Interest Policy