NEMO WORKFORCE DEVELOPMENT BOARDCONFLICT OF INTEREST POLICY

Article I: Purpose

Thisconflictofinterestpolicyis designedto foster publicconfidenceintheintegrityofNEMO Workforce Development Board (the“Organization”)andtoprotecttheOrganization’sinterestwhenitiscontemplatingenteringatransaction(definedbelow)thatmightbenefittheprivateinterestofadirector,acorporateofficer,thetopmanagementortopfinancialofficial,akeyemployee(definedbelow).

Article II: Definitions

policy:

The following are considered insiders for the purposes of this

Eachmemberof theBoardofDirectors orothergoverning body (CLEOs).

Thepresident,chiefexecutiveofficer,chiefoperatingofficer,treasurerandchieffinancialofficer,executivedirector,oranypersonwiththeresponsibilitiesofanyofthesepositions.

Anykeyemployee,meaninganemployeewhosetotalannualcompensation(includingbenefits)fromtheorganizationanditsaffiliatesismorethan$150,000andwho(a)hasresponsibilitiesorinfluenceovertheorganizationsimilartothatofofficers,directors,ortrustees;or(b)managesaprogramthatrepresents10%ormoreoftheactivities,assets,income,orexpensesoftheorganization;or(c)hasorsharesauthoritytocontrol10%ormoreoftheorganization’scapitalexpenditures,operatingbudget,orcompensation foremployees.

10NotethatthisConflictofInterestPolicydoesnotassumetheexistenceofaseparateCompensationPolicy.Compensationpaidtoinsiders,includingfortheirserviceasdirectors,officers,andkeyemployees,shouldbeevaluatedunderthisPolicyinitscurrentform.IfanorganizationhasaseparateCompensationPolicythataddressessuchcompensationdecisions,thispolicymaybemodifiedaccordingly.

Interestmeansanymaterialfinancialinterest,whetherthroughcommitment,investment,relationship,obligation,involvement or otherwise,directorindirect,thatmayinfluenceaperson’sjudgment,includingreceiptofcompensationfromtheOrganization,asale,loan,orexchangetransactionwiththe Organization.

Aconflictofinterestispresentwhen,inthejudgmentofthebody orindividualdeterminingwhetheraconflictexists,aninsiderorpersonrelatedtotheinsiderbyfamilyorbusinessrelationship(“interestedperson”)hasamaterialfinancialinterestinthetransactionsuchthatitreducesthelikelihoodthataninsider’sinfluencecanbeexercisedimpartiallyinthebestinterestsoftheOrganization.

Transactionmeansanytransaction,agreement,or arrangementbetweenaninterested personandtheOrganization,orbetweentheOrganizationandanythirdpartywhereaninterestedpersonhasa materialfinancialinterestinthetransactionoranypartytoit.[NotetoOrganization: IftheOrganizationhasaseparateCompensationPolicythataddressesthereceiptofcompensationbyaninsiderinhisorhercapacityasaninsider(e.g.,compensationpaidtothePresidentforherservicestotheOrganizationasitsPresident),pleaseincludethefollowingsentence:“TransactiondoesnotincludecompensationarrangementsbetweentheOrganizationandadirector,officer,orotherinsiderthatare whollyaddressedundertheOrganization’sCompensationPolicy.”]

Article III: Procedures

1.Duty to Disclose

EachinterestedpersonshalldisclosetotheBoardallmaterialfactsregardinghis,her,oritsinterest(includingrelevantaffiliations)inthetransaction.Theinterestedpersonshallmakethatdisclosurepromptlyuponlearningoftheproposedtransaction.

2.DeterminingWhethera Conflictof InterestExists

Withregardtoaninterestedperson,theBoardshalldetermineifaconflictofinterestexists.

3.Procedures forAddressingaConflictofInterest

TheBoardshallfollowtheproceduressetforthinArticleIVinordertodecidewhatmeasuresareneededtoprotecttheOrganization’sinterestsinlightofthenatureandseriousnessoftheconflict,todecidewhethertoenterintothetransactionand,ifso,toensurethatthetermsofthetransactionareappropriate. Inthecaseofaninsiderwhoisadirector,thedirectorshallnotvote

onanytransactioninwhichthedirectorhasaninterest,andtheremainingBoardmembers shall decide thematter.

Article IV:Reviewbythe Board

TheBoardmayaskquestionsofandreceivepresentation(s)fromtheinsider(s)and anyother interestedperson(s),and may deliberateandvoteonthetransactionintheirpresence.TheBoard shallascertainthatall material factsregardingthetransactionandtheinterestedperson’sconflictofinteresthavebeendisclosedtotheBoardandshallcompileappropriatedatatoascertainwhether theproposedtransaction is justandreasonabletotheOrganization.

Afterexercisingduediligence,whichmayincludeinvestigatingalternativesthatpresentnoconflict,theBoardshalldeterminewhetherthetransactionisintheOrganization’sbestinterest,foritsownbenefit,andwhetheritisjustandreasonabletotheOrganization;thetransactioncanbeapprovedbytheBoardbymajorityvoteofthosepresentatameetingforwhichquorumrequirementshavebeenmet,withoutcountingthevoteofanyinteresteddirectors.Interestedorcommondirectorsmaybecountedindeterminingthepresenceof a quorum at suchmeeting.

ArticleV: Records ofProceedings

TheminutesofanymeetingoftheBoardpursuanttothispolicyshallcontainthe nameofeachinterestedpersonwho disclosedor wasotherwisedeterminedtohaveaninterestinatransaction;thenatureoftheinterestandwhetheritwasdeterminedtoconstituteaconflictofinterest;anyalternativetransactionsconsidered;themembersoftheBoardwhowerepresentduringthedebateonthetransaction,thosewhovotedonit,andtowhatextentinterestedpersonswereexcludedfromthedeliberations;anycomparabilitydataorotherinformationobtainedandrelieduponbytheBoardandhowtheinformationwasobtained;andtheresultofthevote,including,ifapplicable,thetermsofthetransactionthatwasapprovedandthedate itwasapproved.

Article VI: AnnualDisclosure and Compliance Statements

Eachdirector,eachcorporateofficer,thetopmanagementofficial,thetopfinancialofficial,andeachkeyemployeeoftheOrganization,shallannuallysign astatementon theformattached,that:

  • affirmsthatthepersonhasreceivedacopyofthisconflictofinterestpolicy,hasreadandunderstoodthepolicy,andhasagreedtocomplywiththepolicy; and
  • disclosestheperson’sfinancialinterestsandfamilyrelationships thatcould give rise toconflictsofinterest.

Article VII: Violations

IftheBoardhasreasonablecausetobelievethataninsideroftheOrganizationhasfailedtodiscloseactualorpossibleconflictsofinterest,includingthosearisingfromatransactionwitharelatedinterestedperson,itshallinformsuchinsiderofthebasisforthisbeliefandaffordtheinsideranopportunity toexplaintheallegedfailuretodisclose.If,afterhearingtheinsider’sresponseandmakingfurtherinvestigationaswarrantedbythecircumstances,theBoarddeterminesthattheinsiderhasfailedtodiscloseanactualorpossibleconflictofinterest,theBoardshalltakeappropriatedisciplinaryandcorrectiveaction.

ArticleVIII: Annual Reviews

ToensurethattheOrganizationoperatesinamannerconsistentwith its status as an organizationexemptfrom federal incometax, the Boardshallauthorizeandoverseeanannualreviewoftheadministrationofthisconflictofinterestpolicy.Thereviewmaybewrittenororal.Thereviewshallconsiderthelevelofcompliancewiththepolicy,thecontinuingsuitabilityofthepolicy,andwhether thepolicyshouldbemodifiedandimproved.

NEMO Workforce Development Board

CONFLICT OF INTEREST POLICY:ACKNOWLEDGMENTAND FINANCIAL INTEREST DISCLOSURE

STATEMENT

Ourorganizationfollowsaconflictofinterestpolicydesignedtofosterpublicconfidenceinourintegrityandtoprotectourinterestwhenwearecontemplatingenteringatransactionorarrangementthatmightbenefittheprivateinterestofadirector,acorporateofficer,ourtopmanagementofficialandtopfinancialofficial,anyofour keyemployees, or otherinterestedpersons.

Part I.AcknowledgmentofReceipt

Part II.Disclosure of FinancialInterests

WearerequiredannuallytofileForm990withtheInternalRevenueService,andtheformwefileisavailabletothepublic.TocompleteForm990fullyandaccurately,weneedeachofficer,directorandkeyemployeetodisclosetheinformationrequestedin thisPart II.

A“conflictofinterest,”forpurposesofForm990,ariseswhenapersoninapositionofauthority overanorganization,suchasanofficer,director,orkeyemployee,maybenefitfinanciallyfromadecisionheorshecouldmakeinsuchcapacity,includingindirectbenefitssuchastofamilymembersorbusinesseswithwhich thepersonis closelyassociated.

FamilyRelationships / Names ofthosepresentinga potentialconflictof interest
Includespouse/domesticpartner,livingancestors,brothers andsisters(whetherwhole orhalfblood),children(whethernaturalor adopted),grandchildren,greatgrand-children,andspouses/domesticpartnersofbrothers,sisters,children,grandchildren,and greatgrandchildren
Type of interest / Descriptionof interestthatcouldlead toa conflict ofinterest
Transactionsorarrangementswith the Organization
Transactionsoraffiliationswithother nonprofitorganizations
Substantialbusinessorinvestmentholdings
Transactionsoraffiliationswithbusinessesnotlistedabove