Conflict of Interest Policy

A Conflict of Interest Policy, or COI, contains the necessary language ensuring no member of the Board of Directors will profit from the organization. Basically, this policy makes sure the organization does not engage in anything that could be considered a “sweetheart deal” or agree to something otherwise not allowed by the IRS.

Like the Bylaws, the IRS requires nonprofit organizations to have a Conflict of Interest Policy. This policy is especially important for any organization intending to pay salaries or provide scholarships, grants, or other goods to individuals or organizations.

Each board member should sign a copy of the COI to acknowledge their agreement and compliance with the policy when they begin their term on the Board of Directors.

BryteBridge provides all organizations purchasing startup packages with a standard Conflict of Interest Policy to meet IRS requirments.