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
 
 
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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
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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
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