CONFLICT OF INTEREST POLICY
JOSHUA TREE ARTS & TECHNOLOGY ACADEMY A California Nonprofit Public Benefit Corpora5on
ARTICLE I Purpose
The purpose of the conflict of interest policy is to protect this tax-‐exempt organiza8on's (Organiza8on) interest when it is contempla8ng entering into a transac8on or arrangement that might benefit the private interest of an officer or director of the Organiza8on or might result in a possible excess benefit transac8on. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organiza8ons.
ARTICLE II Defini?ons
1. Interested Person: Any director, board member, principal officer, or member of a commiJee with governing board delegated powers, who has a direct or indirect financial interest, as defined below, is an interested person.
2. Compensa8on: Compensa8on includes direct and indirect remunera8on as well as giMs or favors that are not insubstan8al.
3. Financial Interest: A person has a financial interest if the person has, directly or indirectly, through business, investment, or family:
a. An ownership or investment interest in any en8ty with which the Organiza8on has a transac8on or arrangement, b. A compensa8on arrangement with the Organiza8on or with any en8ty or individual with which the Organiza8on has a transac8on or arrangement, or c. A poten8al ownership or investment interest in, or compensa8on arrangement with, any en8ty or individual with which the Organiza8on is nego8a8ng a transac8on or arrangement. d. A financial interest is not necessarily a conflict of interest. Under Ar8cle Ill, Sec8on 2, a person who has a financial interest may have a conflict of interest only if the appropriate governing board or commiJee decides that a conflict of interest exists.
JOSHUA TREE ARTS & TECHNOLOGY ACADEMY — CONFLICT OF INTEREST POLICY