Conflict of Interest: Conflicts of interest occur when the nonprofit corporation does business with a board member or employee of the corporation. All board members and staff should sign Disclosure Statements which identify current or potential conflicts of interest. The organization should establish a process for obtaining written/verbal/documented internet bids for all services or equipment purchases. If the board is considering a contract with a company/business in which a board member has an interest, the board member should not participate in the discussion or vote.