ACTE Conflict of Interest Policy
ACTE® Conflict of Interest Policy
purpose of the conflict of interest policy is to protect the interests
of this tax-exempt organization, (the “Organization”), when it is
contemplating entering into a transaction or arrangement that might
benefit the private interest of an officer or director 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.
1. Interested Person
director, principal officer, or member of a committee with governing
board delegated powers, who has a direct or indirect financial
interest, as defined below, is an interested person.
2. 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 entity with which the Organization has a transaction or arrangement,
b. A compensation arrangement with any entity or individual with which the Organization has a transaction or arrangement, or
proposal of ownership or investment interest in, or compensation
arrangement with, any entity or individual with which the Organization
is negotiating a transaction or arrangement. Compensation includes
direct and indirect remuneration as well as gifts or favors that are
A financial interest is
not necessarily a conflict of interest. Under Article III, Section 2, a
person who has a financial interest may have a conflict of interest
only if the appropriate governing board or committee decides that a
conflict of interest exists.
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
directors and members of committees with governing board delegated
powers considering the proposed transaction or arrangement.
b. The remaining board or committee members shall decide if a conflict of interest exists.
disclosure of the financial interest and all material facts, and after
any discussion with the interested person, he/she shall leave the
governing board or committee meeting while the determination of a
conflict of interest is discussed and voted upon.