Financial Conflictof Interest Policy

I. Purpose

The purpose of this Financial Conflict of Interest Policy is to protect the integrity of Abounding Prosperity, Incorporated (the Organization) and its mission by preventing financial conflicts of interest from influencing the decision-making of its board members, staff and volunteers.

II. Scope

This policy applies to all board members, staff, volunteers and any individuals acting on behalf of the Organization (Interested Parties).

III. Definition of Financial Conflict of Interest

A financial conflict of interest occurs when an Interested Party has a direct or indirect financial interest that could potentially influence their actions or decisions made on behalf of the Organization. This includes, but is not limited to:

1. Ownership or investment interest in a company that does business with the Organization.
2. Receipt of compensation from a third party in connection with the Organization’s activities.
3. A personal financial interest in a transaction or arrangement involving the Organization.

IV. Disclosure Requirements

1. Annual Disclosure: All Interested Parties must complete an annual financial conflict of interest disclosure form that details any financial interests or relationships that could be construed as conflicts.
2. Ongoing Disclosure: Interested Parties must immediately disclose any potential conflicts that arise during the year, including changes in financial interests or relationships.

V. Review Process

1. Conflict Review Committee: The Organization will establish a committee composed of board members who are free of potential conflicts. The committee will review disclosures and determine whether a conflict exists.
2. Determination of Conflict: If a conflict is identified, the committee will evaluate the situation and recommend appropriate action, which may include recusal, termination of the relationship if necessary, or another action suited to the circumstances.

VI. Procedures for Addressing Conflicts of Interest

1. Recusal: Interested Parties must recuse themselves from decisions or discussions related to a conflict of interest.
2. Documentation: The Conflict Review Committee will maintain records of disclosures and actions taken regarding conflicts of interest.
3. Transparency: The Organization will disclose the nature of the conflict in meeting minutes or other relevant documentation, except where confidentiality is required by law.

VII. Violations of the Policy

Any violation of this policy may result in disciplinary action, including termination of employment or volunteer status, depending on the severity of the violation.

VIII. Education and Training

The Organization will provide training to all Interested Parties on the importance of this policy and the identification of financial conflicts of interest.

IX. Policy Review

This policy will be reviewed annually to ensure it remains relevant and effective.