Standard 4: Conflict of Interest

“Land trusts have policies and procedures to avoid or manage real or perceived conflicts of interest.”

 

Practices:

A. Dealing with Conflicts of Interest

1. Adopt a written conflict of interest policy that addresses, for all insiders, how conflicts are identified and avoided or managed.
2. Document the disclosure and management of actual and potential conflicts.
3. When engaging in any transaction with an insider.
   1. Follow the conflict of interest policy.
   2. Contemporaneously document that there is no private or undue benefit.

Resources:

Code of Conduct – Conflict of Interest	Ontario Land Trust Alliance	2016	34 KB	word
Code of Conduct -Organization Policy and Managing Guidelines	Oak Ridges Moraine Land Trust	2014	69 KB	word
Conflict of Interest Policy	Couchiching Conservancy	2021	151 KB	pdf
File Name	Organization	Year	Size	Format

B. Payments to Board Members

1. Do not financially compensate board members for board services, except for reimbursement of expenses.
2. If, in limited circumstances, the land trust compensates a board member for professional services that would otherwise be contracted out,
   1. Document the circumstances surrounding the decision to do so.
   2. Document how the land trust uses appropriate comparability data to determine the amount paid and to confirm that there is no private or undue benefit.

Resources:

Payments to Directors and Connected Persons	Office of the Public Guardian and Trustee Guardianship	2018	————————–	website
Ontario Charities Accounting Act – Amended	Ontario Government	2018	84 KB	word
Changes in Ontario to Director Remuneration	Ontario Land Trust Alliance	2018	35 KB	word
File Name	Organization	Year	Size	Format

C. Land and Conservation Agreement Transactions with Insiders

1. When engaging in land and conservation agreement transactions with insiders.
   1. Follow all transaction policies and procedures.
   2. For land and conservation agreement transactions with insiders, obtain an independent appraisal by a qualified appraiser to justify the purchase or sale price.

Resources:

Insider Policy – Sample	Nature Conservancy of Canada	2004	28 KB	word
File Name	Organization	Year	Size	Format