Clemmons Community Foundation Inc

“990 is reviewed by treasurer prior to filing”

“Clemmons community foundation conflict of interest/duality of interest policy article i purpose the clemmons community foundation (the "foundation") strives to maintain the highest ethical standards in all policies, procedures and programs and to avoid any conflicts of interest. Article ii definitions i. Interested person any trustee, officer, member of a committee with board delegated powers or employee who has a direct or indirect financial interest (as defined in section 2) or duality of interest (as defined in section 3), 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 foundation has a transaction or arrangement, or b.a compensation arrangement with the foundation or with any entity or individual with which the foundation has a transaction or arrangement, or c. A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the foundation is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are substantial in nature. 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 board or committee decides that a conflict of interest exists. 3. Duality of interest a duality of interest exists when a trustee, offi q-, conunittee member or employee of the foundation is affiliated with an llrganization seeking to request a grant from the foundation. Such affiliation exists if the person is a director, trustee, officer or employee of the organization, or has an unofficial role such as significant donor, volunteer, advocate or advisor. Article iii procedures i. Duty to disclose in connection with any actual or possible conflict of interest or duality of interest, an interested person must disclose the existence of his or her financial interest or affiliation and all material facts to the trustees and members of committees with board delegated powers considering the proposed transaction or arrangement. The disclosure should be made either when the interest becomes a matter of board or committee action or as a part of a periodic procedure to be established by the board. 2.determining whether a conflict of interest exists after disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the board or conunittee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or conunittee members shall decide if a conflict of interest exists. 3. Procedures for addressing the interest a. An interested person may make a presentation at the board or committee meeting, but after such presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest or duality of interest. B. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or conunittee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board or committee shall determine whether the foundation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest d. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement is in the foundation's best interest and for its own benefit and whether the transaction is fair and reasonable to the”

“Documents are made available upon request”

“Women who care - women who care promotes social change by harnessing the collective power of women working together to grow philanthropy and distribute grants that expand opportunities to transform the lives of women and girls. Sponsored by the clemmons community foundation, women who care seeks to make a positive change in the lives of women in our community, with an initial focus on providing support, assistance, and advocacy for single mothers.”