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. Both private foundations and public charities (such as community foundations) should have clear guidelines on financial or other interests that must be disclosed and transactions that must be scrutinized or avoided. The policy should cover both board members and foundation staff. A robust conflicts policy can not only help a grantmaker stay on the right side of the law but can also keep the organization from engaging in behavior that gives even the appearance of conflict.
In-Depth knowledge on Self-Dealing
The persistent scrutiny of nonprofit governance has prompted leaders at many types of organizations to take steps to assure that their own houses are in good legal and financial order. For private foundations, this checklist is a good place to start.
Can a company and its related private foundation share office equipment and supplies?
May a company and its private foundation share employees?
What should corporate foundations and the parent company consider when purchasing tickets to fundraisers?
Slide presentation reviewing the basics of self-dealing for family foundations.
Basic legal rules around private company foundations supporting volunteer activities of the sponsoring corporation's employees.
Why do Council on Foundations membership materials and invoices state that if my foundation and corporate giving program share a membership, dues must be paid by the corporation? Is this true for other memberships as well?
Can a company provide office space to the company foundation?