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Handling Conflicts of Interests And Related Party Transactions While Serving On The Board of a Not-For-Profit Corporation Many community-minded people serve on the board of directors of not-for-profit entities.  Although motivated by a desire to serve their community in a volunteer capacity, such board members may suddenly find themselves confronted with a conflict of interest,…

Revisiting Related Party Transactions The New York Not-For-Profit Corporation Law was substantially amended in 2014. Among other things, those amendments introduced the concept of “related party transactions” in order to reduce the possibility of unlawful self-dealing by corporate insiders. A “related party” was defined as an officer, director or key employee of the nonprofit. A…

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