CONFLICT OF INTEREST POLICY
Adopted at 18 May 2009 meeting of Board of Directors

This policy applies to Officers, Directors, Committee Members, Staff Members, Volunteers, and Consultants, where Consultants is understood to mean all individuals hired for a fixed term or on a regular basis to provide services (e.g. bookkeeper, accountant).

No member of the Boiler Room Board of Directors, or any of its Committees, shall derive any personal material or monetary gain, directly or indirectly, by reason of participation with the Boiler Room Board. Individuals shall disclose to the Boiler Room Board and appropriate committees any personal interest which they may have in any matter pending before the Boiler Room and shall refrain from participation in any decision on such matters.

In decisions to hire staff or consultants, no member of the hiring committee shall take part in interviewing and deciding on applicants who are immediate family members or partners, nor on competing applicants. When the recommendation of the hiring committee is submitted to the Board of Directors for approval, Board members who are immediate family members or partners of an applicant must abstain from active participation and may not take part in the vote.

Any member of the Boiler Room Board or any Committee or Staff who is an officer, board member, a committee member or staff member of a borrower organization, a loan applicant agency or potential vendor shall identify his or her affiliation with such agency or agencies. Further, in connection with any finance committee or board action specifically directed to that agency, he/she shall not participate in the decision affecting that agency and the decision must be made and/or ratified by the full Board.

Members of the Boiler Room Board of Directors, any Committee, or Staff shall refrain from obtaining any list of Boiler Room clients or donors for personal or private solicitation purposes.

Given that the Boiler Room is a charitable organization, and in the interest of transparency and maintaining its federal tax exemption, no material or monetary contributions will be accepted for any purposes other than 1) on-site capital or operating expenses, and/or 2) off-site programs that are clearly identified as Boiler Room programs, conform with Boiler Room policies, and accomplish one or more of the Boiler Room’s tax-exempt purposes. All purchases made by or for the Boiler Room remain the property of the Boiler Room.