1. Introduction
House 9 Foundation Inc. is committed to observing the highest standards of ethical conduct in its operation and expects its members to do the same. Therefore, the Board members of the House 9 Foundation Inc. have adopted this Nonprofit Conflict of Interest Policy to ensure that the Organization remains committed to its charitable purpose.

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2. Purpose
The purpose of the conflict of interest policy is to protect this Organization's interest when it is considering entering into a transaction or arrangement that might benefit the private interest of a member of the Organization or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations.

 

3. Definitions
Conflict of interest arises whenever the personal or professional interest of a Board Member is at odds with the best interests of House 9 Foundation Inc.

 

4. Procedures
     I. Duty to Disclose
In connection with any possible conflict of interest, an interested person must disclose the financial interest and be allowed to disclose all material facts to each Board of House 9 Foundation Inc. member.

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      II. Determining Whether a Conflict of Interest Exists 
After disclosure of the financial interest and all material facts, and after any discussion with the interested person, s/he shall leave the governing board meeting while determining a conflict of interest is discussed and voted upon. The remaining board or committee members
shall decide if a conflict of interest exists.

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     III. Procedures for Addressing the Conflict of Interest
          A. An interested person may present at the board meeting but after the presentation, she/he shall leave the meeting during the discussion, and the meeting makes arrangements involving a possible conflict of interest.
          B. The governing board or committee shall take time to investigate, if appropriate, appoint someone or groups to investigate alternatives to the proposed transaction.
          C. After exercising through meetings, the governing board shall determine whether the Organizations can obtain with reasonable efforts what will be the decision to be made.
          D. If the given groups don't make a specific decision, the governing board shall determine by a majority vote.

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5. Violations of the Conflicts of Interest Policy
Suppose the governing board comes up with a reasonable decision or through a vote that the member has failed to disclose. In that case, the governing board shall take appropriate disciplinary and corrective Action.

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6. Records of Proceedings
The minutes of the governing board and all committees shall contain:
     I. The names of the persons who were found to have a financial interest or conflict of interest
     II. The nature of the financial interest
     III. Any action is taken to determine whether a conflict of interest exists.
     IV. The governing board decides whether a conflict of interest exists.
     V. Even the names of the persons who were present for discussions and records of any votes taken in connection with the proceedings must be clearly recorded.

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7. Annual Statements
Each member shall annually sign and make sure they:
     A. Has received a copy of the conflicts of interest policy
     B. Has read and understands the policy
     C. Has agreed to comply with the policy and
     D. Understands whether the Organization is a charitable or Nonprofit Organization.

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8. Use of Outside Experts
When conducting the periodic reviews, the Organization may, but need not, use outside advisors. If an expert is used, the governing board will make sure they will be there closely, ensuring reviews and follow-ups are conducted.