Читать книгу Achieving Excellence in Fundraising - Группа авторов - Страница 60

The duty of loyalty requires directors to avoid acting in any manner that may harm the nonprofit corporation or that may result in the directors' personal financial gain. The duty of loyalty is imposed by state law and involves federal oversight prohibiting excess benefits or private inurement by directors, officers, and staff. In the case of excess benefits, the IRS may impose excise tax penalties as an intermediate sanction pursuant to Internal Revenue Code Section 4958. More egregious cases of private inurement will result in loss of tax‐exempt status.

Conflicts of interest can arise in the context of fundraising if directors use charitable gifts to leverage personal financial contracts. Also, directors must agree to treat the names and information about donors and gifts as confidential, respecting all requests for anonymity. The board of directors should adopt a conflict‐of‐interest policy requiring that conflicts of directors be disclosed and appropriately managed.