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How to enforce conflict of interest policy if all board members are related?

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  • How to enforce conflict of interest policy if all board members are related?

    OKLAHOMA: Hello! I'm in the final stages of receiving approval from the IRS to become a non-profit organization. They have stumped me with one of the final questions. They ask: how will your organization enforce your conflict of interest policy if all 3 of your board members are related?

    It's myself, my husband, and mother-in-law on our founding board of directors. Once we receive our non-profit award letter, we will apply to HUD to become a HUD approved counseling agency. Can HUD help enforce our conflict of interest policy, as we will be reporting to them and audited strongly for fraud and compliance? We are a small operation and really don't want to put someone else on the Board of Directors, and we would need to add 2 to keep it an odd number for voting purposes. Please help! Thank you!

  • #2
    Re: How to enforce conflict of interest policy if all board members are related?

    Which policy are they referring to?

    As to outside contracts and vendors etc? or did you cite something else?

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