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Conflict of Interest

Defined: A conflict of interest arises when a board member, officer, key employee, volunteer or other person in a position of authority over the organization (hereinafter collectively referred to as individual) may benefit financially from a decision he or she could make in that capacity, including indirect benefits such as to family members or businesses with which such individual is closely associated. In addition, the organization recognizes and enforces the following:

  1. There must be no self-dealing or any conduct of private business or personal services between any individual, including family members, and the organization, except as procedurally controlled to assure openness, competitive opportunity, and equal access to inside information.

  2. Individuals must not abuse their position by using this organization's staff, services, equipment, materials or property for personal gain.

  3. Individuals are not to accept gifts or gratuities or any other item of value from any outside person or organization as an inducement to do business or provide services to the organization.

  4. Individuals must not use their position to obtain employment for their self, family members, or close associates, and if such individual is a non-employee and desires to seek employment with the organization, he or she must first resign the current position.

Disclosure: Individuals will disclose annually or provide an update to the Chairman of the Board, on a form provided by the organization, their interests that could give rise to conflicts of interest, such as a list of family members, substantial business or investment holdings, and other transactions or affiliations with businesses and other organizations or those of family members.

Procedure to manage conflicts: For each interest disclosed to the Chairman of the Board, the Chairman will determine whether to:

  • take no action;

  • assure full disclosure to the Board and other individuals covered by this policy;

  • ask the individual to recuse his or herself from participation in related discussions or decisions within the organization;

  • ask the individual to resign from his or her position or, if the individual refuses to resign, become subject to possible removal in accordance with removal procedures.

The CEO and the CFO/COO will monitor proposed or ongoing transactions for conflicts of interest and disclose them to the Chairman, whether discovered before or after the transaction has occurred.

    

  


 

 

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