Daffodil Ministries

“A draft of the 990 is provided to all board members for their review. The 990 is reviewed and approved for filing by the officers of the board.”

“1. A conflict of interest exists when a person is responsible for promoting the interest of the corporation at the same time he or she is involved in a competing personal interest, whether financial, business, personal, or relational.2. When such a conflict arises, the conflicted person shall disclose the conflict to the board of directors at an appropriate time, which shall be prior to any board action involving the matter.3. If such a person is unsure whether a conflict exists, that person shall disclose the potential conflict to the board as described above. The board shall then determine whether a conflict exists before acting on the matter. 4. All parties with a conflict of interest are excluded from any discussion and/or vote related to the matter, other than to present factual information or to answer questions. That person shall nevertheless be counted in determining the existence of a quorum at any meeting in which the matter is discussed. The minutes of such a meeting shall reflect the individuals disclosure and abstention from participation and voting.5. The President or his appointee shall ensure that all board members, agents, employees, and/or volunteers of the corporation are made aware of the corporations policy regarding conflicts of interest.6. This policy shall be reviewed annually by the board of directors.”

“Organizational documents are available by request to and approval of the board of directors.”

“Items classifed as furniture and equipment but not yet placed in service as of 6/30/2024 were reclassified to expenses after adopting a retroactive capitalization policy of $2,500.”