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Issues and Legislation
Connecticut Council for
Philanthropy
Conflict of Interest Policy
Value Statement
The Connecticut Council
for Philanthropy believes that effective governance depends on deliberate,
thoughtful and unbiased decision making by Board members – whether the decisions
involve matters of organizational policy, major transactions or the wise
investment of the organization’s funds. The Council values the active roles
that its Board and committee members play by serving on boards and committees in
their communities. Consequently, however, conflicts of interest or the
appearance of conflicts may occasionally arise. Whether or not self-dealing
results from conflict of interest, the existence of the conflict must be
revealed to protect the Council and the individual concerned. In order to avoid
conflict between the personal interests of Board members or staff and the
interests of the Council, the Board of Directors of the Connecticut Council for
Philanthropy has adopted the following procedures for disclosing conflicts of
interest and for following up when one exists.
Definition
A conflict of interest
exists when a director, an employee or a relative of theirs has a financial
interest or appears to have a financial interest in a decision; or where
affiliations or other conflicts of loyalties may lead to, or suggest influence
in, a decision without having any financial interest.
Policy
It is the policy of the
Connecticut Council for Philanthropy that no member of the Board or a Board
committee should derive any personal profit or gain directly or indirectly, by
reason of his or her membership on the Board or a Board committee, or services
to the Board.
In addition, each member
shall disclose to the Board or Board committee any personal interest (possible
conflict of interest) which he or she may have in any matter pending before the
Board or the Board committee.
All individuals covered by
this policy agree that they will not participate in any Council decision that
materially benefits them, a member of their immediate family, or any
organization with which the individual has a formal relationship.
Disclosure
A conflict of interest
disclosure statement shall be furnished annually to each director and staff who
is currently serving this organization, disclosing any anticipated or possible
conflict situations. The policy shall be reviewed annually for the information
and guidance of directors; and any new directors shall be advised of the policy
and furnished a disclosure statement upon undertaking the duties of such office.
Implementation and
voting
When any conflict of
interest is relevant to a matter requiring action by the Board of Directors, the
interested person shall call it to the attention of the Board of Directors and
the director concerned shall not vote on the matter.
Moreover, the person
having a conflict shall retire from the room in which the Board is meeting and
may not participate in the final deliberation or decision regarding the matter
under consideration. However, that person may provide the Board or committee
with any and all relevant information before retiring.
The minutes of the meeting
of the Board or committee shall reflect that the conflict of interest was
disclosed and that the interested person was not present during the final
discussion or vote and did not vote. When there is a doubt as to whether a
conflict of interest exists, the matter shall be resolved by a vote of the Board
of Directors, excluding the person whose situation will be discussed.
Adopted by the Board of
Directors March 2003
Board of Directors
Conflict-of-Interest
Disclosure Statement
TO:
Chair, Connecticut Council for Philanthropy Board of Directors
I
have reviewed the Connecticut Council for Philanthropy Conflict-of-Interest
Policy statement and advise as follows:
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During my term of service on the Board of Directors, I agree to disclose to
the Board any personal interest I may have in any matter pending before the
Board or Board committee(s) on which I serve.
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Following is a list of organizations (profit and nonprofit) with which I am
associated which will, or may be expected to, engage in business
transactions (other than payment of dues or grants) with the Connecticut
Council for Philanthropy.
If none write ‘none’.
_____________________________ ____________________________
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Date Signature
No changes:
Date_______________ Signature_________________________________________
Date_______________ Signature_________________________________________
Adopted by the Board of
Directors March 2003
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