CONFLICT OF INTEREST POLICY
Bread of Life Mission - Seattle
Approved October 10th, 2006
Statement of Integrity
The Bread of Life Mission purposes to conduct its business affairs and operate its services above reproach and with the highest level of integrity before God and man.
This conflict of interest policy is directed to all Board members and to any employees who influence the actions of the ministry or the Board, or make commitments on its behalf. Our Board and staff members shall exercise the utmost good faith in all transactions involved in their duties and shall not use their positions for personal gain.
Nature and Disclosure of Conflicting Interest
A conflicting interest may be defined as an interest or related party transaction (direct or indirect) between any person or entity which might affect, or might reasonably be thought by others to affect, the judgment or conduct of the Board or staff member. This would include all who make purchasing decisions, management decisions, and who have proprietary information concerning our ministry.
The interests of our ministry must have the first priority, and all purchases of goods and services must be made on a basis that secures for the ministry full competitive advantages as to product, service, and price. Conflicting interests (either direct or indirect) and related party transactions by any Board Member, staff member, or their family members, shall be disclosed by the board or staff member (in writing or verbally) and noted for the record in the Board minutes. This disclosure shall apply on any related party transactions, purchases, or contracts for products or services valued above $200.
In addition, any person with a conflicting interest must abstain from:
- Participating in discussions or deliberations with respect to the specific conflict (other than to present factual information or answer questions)
- Using personal influence to affect deliberations
- Making a motion concerning the conflict of interest
- Voting on the decision regarding the conflict of interest
- Executing agreements with regard to the conflict of interest
The member of the Board may be counted in the determination of a quorum at any meeting in which the subject of the conflict is discussed. The minutes shall reflect that the member abstained from the deliberations and the vote.
The ministry will keep a schedule of disclosures of related party transactions and it shall be reviewed annually at a board meeting. This schedule shall be presented to the auditor along with Board minutes.
Example Areas in Which Conflicts May Arise (include but not limited to)
Ø Persons or entities supplying goods and services to the ministry or who receive honoraria, royalties, or remuneration.
Ø Persons or entities from whom the ministry leases property or equipment.
Ø Persons or entities with whom the ministry is dealing or planning to deal in connection with the gift, purchase, or sale of real estate, securities, or other property.
Ø Persons who desire to use the ministry’s personnel, equipment, supplies, or goodwill other than for the ministry’s activities, programs, and purposes.
Related Party Transactions
If there is a related party transaction over $200 it may be allowed if the following procedures are followed:
1) The related party transaction is disclosed to the Board.
2) The decision is based upon the merits of providing acceptable quality and competitive price to the best interests of the ministry.
Solicitation for Personal Use or Gain
Ø Employees will not participate for financial remuneration in outside activities wherein their position on the staff is used to sell goods or raise money or other support for their personal gain.
Ø Employees or Board Members who have patented or copyrighted any devise, publication, or other item will not receive royalties for the use of such item within Gospel Rescue Mission.
Ø No employee or Board Member may purchase goods or services for personal use in the name of Gospel Rescue Mission.
All Board Members and the appropriate staff members (as determined above) shall receive a copy of this conflict of interest policy and shall adhere to its implementation, as well as complete the annual questionnaire.
Legal Ref. A.R.S. 15-323, 15-421, 15-502, 38-481, 38-501etseq., 38-503