A. Purpose:
The purpose of this conflict-of-interest policy is to protect the church’s interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of a church leader or member of the church, or might result in a possible excess benefit transaction. This policy is intended to supplement, but not replace, any applicable state or federal laws governing conflicts of interest applicable to nonprofit and charitable organizations.
B. Definitions
1. Interested Person: Any church leaders, or member of a committee with governing board-delegated powers, who has a direct or indirect financial interest.
2. Financial interest: A person has a financial interest if the person has, directly or indirectly, through business, investment, or family:
3. Compensation: Direct and indirect remuneration, as well as gifts or favors that are not insubstantial.
4. Board: The pastor, deacons, and trustees will serve as the board to determine procedures for determining a possible conflict of interest.
C. Procedures
1. Duty to Disclose.
In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the pastor, the deacons, and if applicable, members of committees with governing board-delegated powers considering the proposed transaction or arrangement.
2. Determining whether a Conflict of Interest Exists.
After disclosure of the financial interest & all material facts, including any presentations by & discussion with the interested person, he or she shall leave the board or committee meeting while the determination of a conflict of interest involving the transaction or arrangement is discussed. The pastor and deacon board shall decide if a conflict of interest exists.
3. Procedures for Addressing the Conflict of Interest
4. Violations of the Conflict-of-Interest Policy
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170 4th Ave. Cookeville, TN 38506