Untold Journey Foundation Policies
Here is all the legal mumbo-jumbo. Questions? Email hello@untoldjourneyfoundation.org
Conflict of Interest Policy
Article I – Purpose
The purpose of this Board Conflict of Interest Policy is to protect Untold Journey Foundation’s interests when it is contemplating entering a transaction or arrangement that might benefit the private interests of an officer or director of Untold Journey Foundation 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 conflicts of interest applicable to nonprofit and charitable organizations. This Policy is also intended to identify “independent” directors. It is based on the Internal Revenue Service (“IRS”) model Conflict of Interest Policy, which is an attachment to Form 1023, and adds information needed to allow Untold Journey Foundation to assess director independence to answer questions on Form 990. A conflict of interest exists only if the Board or Executive Committee decides that a conflict of interest exists in accordance with this Policy.
Article II – Definitions
Interested Person
Any director, principal officer, or member of a committee with governing board delegated powers who has a direct or indirect financial interest, as defined below, is an interested person.
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 Untold Journey Foundation has a transaction or arrangement,
(b) A compensation arrangement with Untold Journey Foundation or with any entity or individual with which Untold Journey Foundation has a transaction or arrangement, or
(c) A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which Untold Journey Foundation is negotiating a transaction or arrangement.
Compensation includes direct and indirect remuneration as well as gifts or favors that are not insubstantial. A financial interest is not necessarily a conflict of interest.
Independent Director
A director shall be considered “independent” for the purposes of this Policy if they are “independent” as defined in the instructions for the IRS Form 990 or, until such definition is available, the director:
(d) Is not and has not been for a period of at least three years, an employee of Untold Journey Foundation or an employee of any entity in which Untold Journey Foundation has a financial interest.
(e) Does not directly or indirectly have a significant business relationship with Untold Journey Foundation, which might affect independence in decision-making.
(f) Is not employed as an executive of another corporation where any of Untold Journey Foundation’s executive officers or employees serve on that corporation’s compensation committee; and
(g) Does not have an immediate family member who is an executive officer or employee of Untold Journey Foundation or who holds a position that has a significant financial relationship with Untold Journey Foundation.
Article III – Procedures
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 or Executive Committee.
Recusal of Self
Any director may recuse themself at any time from involvement in any decision or discussion in which the director believes they may or may not have a conflict of interest, without going through the process for determining whether a conflict of interest exists.
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, they shall leave the Board or Executive Committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining Board or Executive Committee members shall decide if a conflict of interest exists.
Procedures for Addressing the Conflict of Interest
(h) An interested person may make a presentation at the Board or Executive Committee meeting, but after the presentation, they shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest.
(i) The Chairperson of the Board or Executive Committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement.
(j) After exercising due diligence, the Board or Executive Committee shall determine whether Untold Journey Foundation 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.
(k) If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the Board or Executive Committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in Untold Journey Foundation’s best interest and whether it is fair and reasonable, then make its decision as to whether to enter into the transaction or arrangement.
Violations of the Conflicts of Interest Policy
(l) If the Board or Executive Committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose.
(m) If, after hearing the member’s response and after making further investigation as warranted by the circumstances, the Board or Executive Committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.
Article IV – Records of Proceedings
The minutes of the Board and all Committees with Board delegated powers shall contain:
(n) 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 Board’s or Executive Committee’s decision as to whether a conflict of interest in fact existed.
(o) 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.
Article V – Compensation
(p) A voting member of the Board who receives compensation, directly or indirectly, from Untold Journey Foundation for services is precluded from voting on matters pertaining to that member’s compensation.
(q) A voting member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from Untold Journey Foundation for services is precluded from voting on matters pertaining to that member’s compensation.
(r) No voting member of the Board or any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from Untold Journey Foundation, either individually or collectively, is prohibited from providing information to any committee regarding compensation.
Article VI – Annual Statements
Each director, principal officer, and member of a committee with Board delegated powers shall annually sign a statement which affirms such person:
(s) Has received a copy of the Conflict of Interest Policy,
(t) Has read and understands the Policy,
(u) Has agreed to comply with the Policy, and
(v) Understands that Untold Journey Foundation, in order to maintain its federal tax exemption, must engage primarily in activities that accomplish one or more of its tax-exempt purposes.
Each voting member of the Board shall annually sign a statement declaring whether such person is an independent director. If at any time during the year the information in the annual statement changes materially, the director shall disclose such changes and revise the annual disclosure form.
The Board of Directors shall regularly and consistently monitor and enforce compliance with this Policy by reviewing annual statements and taking such other actions as are necessary for effective oversight.
To ensure Untold Journey Foundation does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include:
(w) Whether compensation arrangements and benefits are reasonable, based on competent survey information (if reasonably available), and the result of arm’s length bargaining.
(x) Whether partnerships, joint ventures, and arrangements with management organizations, if any, conform to Untold Journey Foundation’s written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes, and do not result in inurement or impermissible private benefit or in an excess benefit transaction.
Article VII – Use of Outside Experts
When conducting the periodic reviews as provided for in Article VI, Untold Journey Foundation may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the Board of its responsibility for ensuring periodic reviews are conducted.
Document Retention and Destruction Policy
Purpose
The Untold Journey Foundation (the "Organization") is committed to maintaining proper records in accordance with legal requirements and sound organizational management. This policy establishes guidelines for the retention, storage, archiving, and lawful destruction of organizational documents and records.
Scope
This policy applies to all records created, received, or maintained by the Organization in any format, including paper, electronic files, email, and digital media.
Legal Hold
In the event of litigation, government investigation, audit, or any other legal proceeding, normal document destruction must be suspended immediately for all records relevant to that matter. The Executive Director will notify all staff when a legal hold is in effect. Destruction of any records subject to a legal hold is strictly prohibited.
Record Retention Schedule
The following retention periods apply:
Permanent Records (retain indefinitely)
• Articles of Incorporation and all amendments
• Bylaws and all amendments
• IRS determination letter (tax-exempt status)
• Board meeting minutes and resolutions
• Annual financial statements and audit reports
• IRS Form 990 filings
• Real estate deeds, mortgages, and leases
• Trademark and intellectual property registrations
Seven-Year Records
• General ledgers, journals, and accounting records
• Bank statements and canceled checks
• Payroll records and W-2/1099 forms
• Contracts and agreements (7 years after expiration)
• Grant records and funder correspondence
• Donor pledge records and gift agreements
Three-Year Records
• Bank reconciliations
• General correspondence
• Insurance records (after expiration)
• Employee personnel files (3 years after separation)
One-Year Records
• Routine administrative correspondence
• Duplicate copies of records maintained elsewhere
• Superseded policy drafts
Electronic Records
Electronic records, including email, are subject to the same retention requirements as paper records. Staff are responsible for properly filing, storing, and deleting electronic records in accordance with this policy. Email correspondence that constitutes an official organizational record should be saved to the appropriate file or folder system.
Secure Destruction
Physical documents containing confidential, financial, or personal information must be shredded. Electronic records must be permanently deleted using appropriate methods. Records should not simply be discarded in trash or recycling.
Responsibility
The Executive Director is responsible for overseeing implementation of this policy and ensuring that staff are trained in its requirements. The Board of Directors will review this policy annually.
Policy Review
This policy shall be reviewed by the Board of Directors at least once every two years or whenever significant changes in law or organizational practice require an update.