Copy Submitted with IRS Form 1023 EIN: 47

Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
ACNA Conflict of Interest Policy
Adopted by the ACNA by a majority vote of the Board of Directors
Date: August 18, 2015
Bylaws Article XV – Conflict of Interest Policy
Section 1 - Purpose
The purpose of the conflict of interest policy is to protect the interests of the American Cannabis
Nurses Association (ACNA) when it is contemplating entering into a transaction or arrangement
that might benefit the private interest of the Executive Officer or other Member of the Board of
Directors of the organization or might result in a possible excess benefit transaction. This policy
is intended to supplement but not replace any applicable state and federal laws governing conflict
of interest applicable to nonprofit and charitable organizations.
Section 2 - Definitions
1. Interested Person
The ACNA Executive Officers, Board Members, or any member of a committee with governing
board delegated powers, who has a direct or indirect financial interest, as defined below, is an
interested person.
2. Financial Interest
A person has a financial interest if the person has, directly or indirectly, through business,
investment, or family:
a. An ownership or investment interest in any entity with which ACNA has a transaction or
arrangement,
b. A compensation arrangement with ACNA or with any entity or individual with which ACNA
has a transaction or arrangement, or
c. A potential ownership or investment interest in, or compensation arrangement with, any entity
or individual with which ACNA is negotiating a transaction or arrangement.
Compensation includes direct and indirect remuneration as well as gifts or favors that are not
insubstantial.
Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
A financial interest is not necessarily a conflict of interest. Under Section 3, part 2, a person who
has a financial interest may have a conflict of interest only if the appropriate governing board or
committee decides that a conflict of interest exists.
Section 3 - Procedures
1. Duty to Disclose
In connection with any actual or possible conflict of interest, an interested person must disclose
the existence of the financial interest and be given the opportunity to disclose all material facts to
the Board of Directors and members of any committees with governing board delegated powers
considering the proposed transaction or arrangement.
2. Determining Whether a Conflict of Interest Exists
After disclosure of the financial interest and all material facts, and after any discussion with the
interested person, he/she shall leave the Board of Directors meeting while the determination of a
conflict of interest is discussed and voted upon. The remaining board or committee members
shall decide if a conflict of interest exists.
3. Procedures for Addressing the Conflict of Interest
a. An interested person may make a presentation at the Board of Directors meeting, but after the
presentation, he/she shall leave the meeting during the discussion of, and the vote on, the
transaction or arrangement involving the possible conflict of interest.
b. The Board of Directors shall, if appropriate, appoint a disinterested person or committee to
investigate alternatives to the proposed transaction or arrangement.
c. After exercising due diligence, the Board of Directors shall determine whether ACNA can
obtain with reasonable efforts a more advantageous transaction or arrangement from a person or
entity that would not give rise to a conflict of interest.
d. If a more advantageous transaction or arrangement is not reasonably possible under
circumstances not producing a conflict of interest, The Board of Directors shall determine by a
majority vote of the disinterested members whether the transaction or arrangement is in ACNA’s
best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the
above determination it shall make its decision as to whether to enter into the transaction or
arrangement.
4. Violations of the Conflicts of Interest Policy
Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
a. If the Board of Directors has reasonable cause to believe a member has failed to disclose
actual or possible conflicts of interest, it shall inform the Board Member of the basis for such
belief and afford the member an opportunity to explain the alleged failure to disclose.
b. If, after hearing the member’s response and after making further investigation as warranted by
the circumstances, the governing board or committee determines the member has failed to
disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and
corrective action.
b. (1) Appropriate disciplinary or corrective action will depend upon assessment of "harm done"
or risk to ACNA. This may include:
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Re-voting on some Board action, without the vote of the individual who failed to disclose
the conflict of interest
Removal of a Board member who, by not disclosing, compromised the organization's
integrity
In the event that no harm has been done but the recognition of potential harm is
acknowledged, the Board shall take appropriate steps to assure the situation doesn't
happen again and will restate to appropriate parties the ACNA policy regarding conflict
of interest.
Section 4 - Records of Proceedings
The minutes of the governing board and all committees with board delegated powers shall
contain:
a. The names of the persons who disclosed or otherwise were found to have a financial interest in
connection with an actual or possible conflict of interest, the nature of the financial interest, any
action taken to determine whether a conflict of interest was present, and the governing board’s or
committee’s decision as to whether a conflict of interest in fact existed.
b. The names of the persons who were present for discussions and votes relating to the
transaction or arrangement, the content of the discussion, including any alternatives to the
proposed transaction or arrangement, and a record of any votes taken in connection with the
proceedings.
Section 5 - Compensation
a. A voting member of the governing board who receives compensation, directly or indirectly,
from the Organization for services is precluded from voting on matters pertaining to that
member’s compensation.
Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
b. A voting member of any committee whose jurisdiction includes compensation matters and
who receives compensation, directly or indirectly, from the Organization for services is
precluded from voting on matters pertaining to that member’s compensation.
c. No voting member of the governing board or any committee whose jurisdiction includes
compensation matters and who receives compensation, directly or indirectly, from the
Organization, either individually or collectively, is prohibited from providing information to any
committee regarding compensation.
Section 6 - Annual Statements
Each director, principal officer and member of a committee with governing board delegated
powers shall annually sign a statement which affirms such person:
a. Has received a copy of the conflicts of interest policy,
b. Has read and understands the policy,
c. Has agreed to comply with the policy, and
d. Understands the Organization is charitable and in order to maintain its federal tax exemption it
must engage primarily in activities which accomplish one or more of its tax-exempt purposes.
Section 7 - Periodic Reviews
To ensure that ACNA operates in a manner consistent with charitable purposes and does not
engage in activities that could jeopardize its tax-exempt status, annual reviews shall be
conducted at ACNA Board of Director’s meetings. Annual reviews shall include the following
subjects:
a. Whether compensation arrangements and benefits are reasonable, based on competent survey
information and the result of arm’s length bargaining.
b. Whether partnerships, joint ventures, and arrangements with management organizations
conform to the Organization’s written policies, are properly recorded, reflect reasonable
investment or payments for goods and services, further charitable purposes and do not result in
inurement, impermissible private benefit or in an excess benefit transaction.
Section 8 - Use of Outside Experts
Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
When conducting the periodic reviews as provided for in Section 7, the Organization may, but
need not, use outside advisors. If outside experts are used, their use shall not relieve the
governing board of its responsibility for ensuring periodic reviews are conducted.
Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
Conflict of Interest Statement
As a Director, Officer or Employee of ACNA, I acknowledge that I:
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Received a copy of the Organization’s Conflict of Interest Policy dated August 18, 2015;
Read and understood the policy;
Agree to comply with the spirit and intent of the policy and will disclose any potential
conflicts, other than those stated below, as they may arise before completion of my next
conflict of interest statement; and
Understand that the Organization is a charitable organization and in order to maintain its
federal tax exemption it must engage primarily in activities which accomplish one or
more of its tax-exempt purposes.
Based on a review of the Organization’s Conflict of Interest Policy, are you aware of any interest
that you or a related person may have that could give rise to a conflict of interest? If yes, please
complete Attachment A to this form.
 Yes
 No
My answers above are accurately stated to my knowledge and belief.
Dated:
Signature
Printed Name
Title
Copy Submitted with IRS Form 1023
EIN: 47-4373604
Referenced in Part IV of Application for Recognition of Exemption for ACNA
Attachment A – ACNA Individual Conflict of Interest Statement
Name:
Position:
Please describe below any relationships, transactions, positions you hold (volunteer or otherwise),
or circumstances that you believe could contribute to a conflict of interest:
_____ I have the following conflict of interest to report (please specify other relevant nonprofit
and for-profit boards you (and your spouse) sit on, any relevant for-profit businesses for which
you or an immediate family member are an officer or director, or a majority shareholder and,
where relevant, the name of your employer and any businesses you or a family member own.
Note the nature of specific conflict of interest potentially faced.
1.____________________________________________________________________________
2.____________________________________________________________________________
3.____________________________________________________________________________
I hereby certify that the information set forth above is true and complete to the best of my
knowledge.
Signature: _____________________________________________________________________