Purpose: The purpose of the conflict of interest policy is to protect the interests of this tax-exempt organization, (the “Organization”), when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Organization or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable United States federal and state laws governing conflict of interest applicable to nonprofit and charitable organizations.
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 financial interest is not necessarily a conflict of interest. A person who has a financial interest may have a conflict of interest only if the appropriate governing board or committee decides that a conflict of interest exists.
Procedure:
- 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 President who with the Executive Committee will determine if a conflict of interest exists.
- The President shall notify the board member if it’s determined that a conflict of interest exists. Said board member will then be excused from all discussion where their conflict exists.
An example conflict of interest disclosure form follows:
Please complete the following form or attach the same information in some other form. If you have no information to list, please state “None.”
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Business Interests and Positions . Please list any memberships on boards, offices held, employment or consulting arrangements or other affiliations you have had within the previous 12 months (or reasonably expect to have within the next 12 months) with any organization, business, group, agency, or other entity that has done business with, or potentially competes with, ISEH, or that you reasonably believe may do business with, or compete with, ISEH.
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Material Ownership Interests . Please list any material ownership interests (including stock options but excluding indirect investments through mutual funds and the like) in any entity that has a commercial interest in any activity, contract, or matter directly related to the activities of ISEH (just the fact of ownership must be reported and not the actual amount of such holdings).
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Organizational Interests and Positions . Please list any leadership roles or positions you have held (e.g., board member, committee member, chair, president, advisor, contributor) in any organization, business or other entity that involves, or may be perceived to compete with, or be contrary to the interests of ISEH.
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Actual, Potential, or Apparent Conflicts . Please list any other activities, positions, or interests you engage in, hold, or anticipate engaging in or holding that reasonably could be perceived to conflict with the interests of ISEH.
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I have read, understand and agree to the terms of ISEH’s Conflict of Interest Policy. To the best of my knowledge and belief, the information reported above is complete and accurate, and I am not aware of any other personal or professional position(s) or interest(s) or activities in which I am, or am about to be, engaged that reasonably may be anticipated to conflict with the interests of ISEH.
Signature: ______________________________________ Date: