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DocuSign Envelope ID: FB3E3E71-F2B8-41 1A-81 C9-1392ACCOFE1 1 <br /> ARTICLE VI. ANNUAL STATEMENTS <br /> Each director, principal officer and member of' a committee with governing board <br /> delegated powers shall annually sign a statement which affi nrns such person: <br /> a. Has received a copy of the conflicts of interest policy <br /> b. Has read and understands the policy, <br /> c. Has agreed to comply with the policy, and <br /> d. Understands the Organization is charitable and in. order to maintain its Federal tax <br /> exemption it must engage primarily in activities which accomplish one or more of <br /> its tax-exempt purposes. <br /> ARTICLE VIL PERIODIC REVIEWS <br /> To ensure the Organization operates in a manner consistent with charitable purposes and <br /> does not engage in activities that could jeopardize, its tax-exempt status, periodic reviews <br /> shall be conducted. The periodic reviews shall, at a minimum, include the following <br /> subjects: <br /> a. Whether compensation arrangements and benefits are reasonable, based on <br /> competent survey information, and the result of arm's length bargaining. <br /> K Whether partnerships, joint ventures, and arrangements with management <br /> organizations conform to the Organization's written.policies, are properly recorded, <br /> reflect reasonable investment or payments for goods and services, further <br /> charitable purposes and do not result in inurement, impermissible private benefit or <br /> in an excess benefit transaction. <br /> ARTICLE VIII. USE OF OUTSIDE EXPERTS <br /> When conducting the periodic reviews as provided for in Article VII., the Organization <br /> may, but need not, use outside advisors. If outside experts are used, their use shall not <br /> relieve the governing board of its responsibility for ensuring periodic reviews are <br /> conducted. <br /> Conflict of Interest Policy for The Community Empowerment Fund <br /> Page 4 of'4 <br />