Conflict of Interest Policy: Difference between revisions
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== Conflict of Interest == | == Conflict of Interest == | ||
# In this policy, a person with a conflict of interest is referred to as an “interested person.” For purposes of this policy, the following circumstances shall be deemed to create a Conflict of Interest: | # In this policy, a person with a conflict of interest is referred to as an “interested person.” For purposes of this policy, the following circumstances shall be deemed to create a Conflict of Interest: | ||
## A director, officer, employee or volunteer, including a board member (or family member of any of the foregoing) is a party to a contract, or involved in a transaction with | ## A director, officer, employee or volunteer, including a board member (or family member of any of the foregoing) is a party to a contract, or involved in a transaction with Bike Edmonton for goods or services. | ||
## A director, officer, employee or volunteer, (or a family member of any of the foregoing) has a material financial interest in a transaction between | ## A director, officer, employee or volunteer, (or a family member of any of the foregoing) has a material financial interest in a transaction between Bike Edmonton and an entity in which the director, officer, employee or volunteer, or a family member of the foregoing, is a director, officer, agent, partner, associate, employee, trustee, personal representative, receiver, guardian, custodian, or other legal representative. | ||
## A director, officer, employee or volunteer, (or a family member of the foregoing) is engaged in some capacity or has a material financial interest in a business or enterprise that competes with | ## A director, officer, employee or volunteer, (or a family member of the foregoing) is engaged in some capacity or has a material financial interest in a business or enterprise that competes with Bike Edmonton. | ||
# Other situations may create the <i>appearance of a conflict</i>, or present a <i>duality of interests</i> in connection with a person who has influence over the activities or finances of the nonprofit. All such circumstances should be disclosed to the board or staff, as appropriate, and a decision made as to what course of action the organization or individuals should take so that the best interests of the nonprofit are not compromised by the personal interests of stakeholders in the nonprofit. | # Other situations may create the <i>appearance of a conflict</i>, or present a <i>duality of interests</i> in connection with a person who has influence over the activities or finances of the nonprofit. All such circumstances should be disclosed to the board or staff, as appropriate, and a decision made as to what course of action the organization or individuals should take so that the best interests of the nonprofit are not compromised by the personal interests of stakeholders in the nonprofit. | ||