VETERANS MEMORIAL FOUNDATION
An Ohio Non-Profit Corporation
Ohio Entity 1758359
CONFLICT OF INTEREST POLICY
Adopted October 3rd 2013
Amended January 7, 2016
By a duly made and seconded motion, this conflict of interest policy has been adopted by a majority vote of the membership of the Allen County Veterans Memorial Foundation. This conflict of interest policy is based upon the sample document provided by the Internal Revenue Service of the United States of America.
We hold that a conflict of interest policy is necessary to protect the Allen County Veterans Memorial Foundation's interest when it is considering entering into any type of agreement that may, or appear to benefit the private interest of any member of the Foundation either financially or positionally. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations.
1: Interested Persons
Any member of the Allen County Veterans Memorial Foundation's Board of Directors who has a direct or indirect financial interest, as defined below, is an interested person.
2: Financial Interest
A person has a financial interest if the person has, directly or indirectly, through business, investment, or family:
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 Article III, Section 2, a person who has a financial interest may have a conflict of interest only if the Board of Directors decides that a conflict of interest exists.
Before entering into any agreements with any entity, all members of the Allen County Veterans Memorial Foundation shall be queried as to any possible or actual conflict of interest in connection with an agreement with such entity and be given the opportunity to disclose all material facts to the Board of Directors before entering into the agreement.
2. Procedures for Determining if a Conflict Exists and Addressing the Conflict of Interest .
3. Violations of the Conflicts of Interest Policy
Records of Proceedings
The minutes of the Board of Directors meetings regarding conflict of interest issues shall comply with the bylaws of the corporation regarding minutes of all meetings.
Statements of Compliance
Each member of the Allen County Veterans Memorial Foundation shall sign a statement which affirms such person:
IN WITNESS WHEREOF, we have hereunto subscribed our names on January 7, 2016
David E. Paxton, Sr.
James S. Whited
Now comes Kathleen G. Paxton, the duly elected secretary of this corporation certifying that the above is a true and correct copy of the Conflict of Interest Policy as adopted by the Board of Directors of of the Allen County Veterans Memorial Foundation at a duly called meeting that was held in accordance with the laws of the state of Ohio and the bylaws of this corporation on January 7, 2016.
IN WITNESS THEREOF, I have affixed my name as secretary of this corporation.
Kathleen G. Paxton, Recording Secretary