Conflict of Interest Policy: Financial Statements & Form 990

On page 6 of the Form 990, the IRS asks the nonprofit organization if they have a written conflict of interest policy, if annual disclosure is required, and if the organization regularly monitors and enforces compliance with the policy. Often times when I ask the above question of my 990 clients, I get a response …

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The Importance of A Conflict of Interest Policy

Conflict of Interest policies for board members are a much needed piece for any not-for-profit organization.  A conflict of interest policy will help board members recognize when their activities are related party transactions and should have different treatment.  These treatments include processes for decision making and disclosures to the financial statements.  When a board member …

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Best Practices for Not-for-Profit Organizations

“Best practices” can be a buzz phrase you hear a lot, especially when it comes to governance of a not-for-profit organization.  With the overload of information available to organizations, it’s easy to see why some view the task of incorporating best practices into their own activities as a bit daunting. The following are some “basics” …

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