Under Part V, there are many questions about the personal and business relationships of the officers/directors, and question 5 in particular asks if you have a conflict of interest policy. If you don't it asks for the procedures you follow to ensure that persons with a conflict of interest will not have influence over you for setting compensation and influences regarding business deals. Then it says Note: A conflict of interest policy is recommended though it is not required to obtain exemption.

The application was revised 10-2004 and is very different from the one I printed out before that. I'm a little lost, but muddling through!

What specifically are you afraid of that you want to formalize in a policy? I've completed 2 501c3 applications and haven't run into this issue.

I'm in the process of completing our 501(c)3 application and was wondering if any of you have a Conflict of Interest policy for your group. If you do, could you share it with me? I would like to propose a policy to our group, and have no idea of how they are worded. It would make filing the appliation easier if we have one. Any and all help/suggestions welcomed!! Shari