Self-Dealing

This article explores one of the more common questions about conflicts of interest: May the foundation's lawyer serve as a trustee?
With Congress and the media focusing on corporate governance and foundation administration, it is a good time to make sure that all grantmakers have a strong conflict of interest policy in place.
Because of the legal issues involved, foundations should carefully consider whether foundation funds should be used to cover certain expenses.
What do you do when a grantee—or potential grantee—asks someone on your board or staff to sit on their board? Does such a request constitute a conflict of interest?
Accepting and using tickets and other tangible benefits of more than minimal value raises questions for foundation managers. Here's what the general Tax Code rules say is acceptable.

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