Conflict of interest and self-dealing

Passing the “Mirror Test”: Ethics and family philanthropy

Posted on August 13, 2015 by Michael Rion

Your family’s philanthropic values – your sense of stewardship, your personal commitments and interests, and your desire to foster charitable impulses in your children and future generations – are the foundation of your family’s philanthropy.  Articulating and discussing values on a regular basis is part of ethically responsible giving. … Read More

General Policy on Self-Dealing (Anonymous Family Foundation)

Posted on August 10, 2015 by Anonymous

The Foundation will not knowingly engage in any “self dealing” activity. Self-dealing is any “prohibited financial transaction” between The Foundation and a “disqualified person.” 1. Prohibited Financial Transactions a. The sale, exchange or leasing or property (such as purchasing stationery, supplies, printing, graphic design or insurance from a disqualified person). b. The lending of money or the extension of credit… Read More

Statement of Director Expectations

Posted on August 7, 2015

As members of the Board of Directors of The ____________ Foundation, we recognize and confirm our fiduciary obligations to the Foundation. We have ultimate authority and responsibility for the Foundation’s strategies, policies, procedures and operations. As part of this responsibility, we have established expectations for the members of the Board. In keeping with our fiduciary duty, we commit ourselves to… Read More

Conflict of Interest Policy Template

Posted on August 7, 2015 by National Center for Family Philanthropy

This Policy is to protect the interests of The ______ Foundation by: (i) preventing the personal interest of Members, Directors, Officers, Employees or Independent Contractors from interfering with the performance of their duties to the Foundation and (ii) avoiding any inappropriate personal financial, professional or political gain on the part of such persons at the expense of the Foundation. … Read More

May Our Board Pay a Disqualified Person for Services Such as Portfolio Management?

Posted on December 11, 2014 by Andrew Schulz

May our board pay someone for portfolio management if they are an employee of a company owned or led by a board member and direct descendant of the foundation’s father? Yes, even if the individual being employed to do that work is a disqualified person, paying someone reasonable and necessary compensation to manage the assets of the foundation, regardless of… Read More

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