personal gain It is illegal and carries serious tax penalties for those involvedSELF DEALING POLICYSelfDealing takes place between a 147Disquali30ed Person148 and the Krier Foundation Disquali30ed p ID: 890434
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1 Self-Dealing is when individuals with in
Self-Dealing is when individuals with in uence over a foundation use the foundation’s assets for personal gain. It is illegal and carries serious tax penalties for those involved. SELF DEALING POLICY Self-Dealing takes place between a “Disquali ed Person” and the Krier Foundation. Disquali ed persons are Krier Foundation: • Board members. • • Independent contractors. • • Family members of board members, employees, independent contractors or contributors. • Corporations owned by board members, employees, independent contractors or contributors. Disquali ed Persons may not have the Krier Foundation: • Give them loans from Foundation assets. • Pay for their attendance at fundraising events. • Pay rent to them, even at below market rates. • Use the Krier Foundation credit card on their behalf for any reason. • Pay for their personal charitable pledges. • Pay for spouse travel if the spouse joins them on of cial Foundation business. TRANSACTIONS THAT ARE ALLOWED Disquali ed Persons may interact with the Krier Foundation in nancial ways that do not count as Self-Dealing. Speci cally, Disquali ed Persons may: • Make charitable gifts to the Krier Foundation. • Receive reimbursement for food, travel and lodging that is reasonable and required for the operation of the Krier Foundation. • Provide compensation that is reasonable for services rendered. 1