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A conflict of interest, for purposes of Form 990, arises when a person in a position of authority over an organization, such as an officer, director, or key employee, may benefit financially from a decision he or she could make in such capacity, including indirect benefits such as to family members or businesses with
Form 700 is the tool used by public officials to disclose their financial interests that may be affected by their public official decisions. This ensures that the public is aware of a public officials financial interests and also reminds the public official of potential conflicts.
A conflict of interest policy is intended to help ensure that when actual or potential conflicts of interest arise, the organization has a process in place under which the affected individual will advise the governing body about all the relevant facts concerning the situation.
Code Filers State and Local Officials, Employees, Candidates, and Consultants Designated in a Conflict of Interest Code: File with your agency, board, or commission unless otherwise specified in your agencys conflict of interest code. In most cases, the agency, board, or commission will retain the statements.
Under the Act, a public official has a disqualifying conflict of interest in a governmental decision if it is foreseeable that the decision will have a financial impact on his or her personal finances or other financial interests.

People also ask

A conflict of interest declaration is an essential tool in ensuring that everyone involved in discussions or decisions regarding your organisation is serving in the best interest of the business.
The types of conflict of interest include romantic or relational, financial, competitive, and confidential conflict of interests. They all involve individuals engaging in activities that lead to personal gain at the expense of the organizations they work for.

conflict of interest form