Conflict Of Interest Policy Pdf
Eustolia Pennycuff
Charitable organizations are frequently subject to intense public scrutiny, especially where they appear to have inappropriately benefited their officers, directors or trustees. The IRS also has an oversight role with respect to charitable organizations. An important part of this oversight is providing organizations with strategies that will help avoid the appearance or actuality of private benefit to individuals who are in a position of substantial authority. The recommended conflict of interest policy is a strategy we encourage organizations to adopt as a means to establish procedures that will offer protection against charges of impropriety involving officers, directors or trustees.
Apart from any appearance of impropriety, organizations will lose their tax-exempt status unless they operate in a manner consistent with their charitable purposes. Serving private interests more than insubstantially is inconsistent with accomplishing charitable purposes. For example, paying an individual who is in a position of substantial authority excessive compensation serves a private interest. Providing facilities, goods or services to an individual who is in a position of substantial authority also serves a private interest unless the benefits are part of a reasonable compensation arrangement or they are available to the public on equal terms and conditions.
UC addresses the various aspects of financial conflicts of interests in research through a number of principles, guidelines and policies intended to promote the conduct of research without bias and with the highest scientific and ethical standards.
The University and the Fair Political Practices Commission maintain a list of non-governmental entities whose support for a research project does not trigger a requirement for a PI to file a 700-U form (sometimes referred to as "exempt organizations").
This letter implements interim DOE policy to address financial and organizational conflicts of interest, which will be incorporated into Special Terms & Conditions for DOE financial assistance awards.
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A conflict of interest policy is an official document that outlines the procedures for team members when a conflict occurs between their personal interests and the interests of the organization. The policy sets boundaries around potential employee and board member conflicts that may arise to prevent legal liabilities and discordance between a company and its workers.
At its core, a board member conflict of interest policy should (a) require those with a conflict (or a potential conflict) to disclose it, and (b) prohibit any board members from voting on any matter in which they have a personal conflict.
In terms of federal laws, the Form 990 that nonprofits fill out annually asks whether the nonprofit has a written conflict of interest policy and how the organization determines whether board members have conflicts. It also requires the nonprofit to outline its process for managing such conflicts.
Corporate laws are not quite extensive in terms of conflict of interest policies, but regulations may apply. Be sure to check for any applicable local, state, and federal requirements.
However you handle conflicts of interest, do so quickly. The longer you wait, the more of an issue they can become both internally and externally. Implementing these tried-and-true methods will go a long way to maintaining an ethical team and keep your credibility intact when it comes to dealing with conflicts of interest.
Disclaimer: This conflict of interest policy sample is meant only to provide general guidelines. It may not take into account all applicable local, state, and federal laws and should instead be used to give a general idea of what a generic policy may look like. Neither the author nor Boardable will assume any legal liability that may arise from using this sample template.
Properly carrying out and revisiting your policy will allow you to protect your organization from unnecessary challenges and their resulting legal complications. That way, less time will be spent on managing avoidable conflicts, and more time can be spent on driving greater outcomes for the organization.
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Regulatory bodies and authorities on governance encourage nonprofit organizations to adopt and regularly evaluate a written conflict of interest policy that: requires governing board members and employees, when exercising their institutional authority, to act solely in the interests of the organization; includes procedures for determining whether a financial interest or other relationship results in a conflict of interest; and prescribes a course of action in the event a conflict of interest is identified. With regard to federally sponsored research, government agencies such as the Department of Health and Human Services' Public Health Service and the National Science Foundation prescribe specific requirements designed to assure objectivity in research. Since at least 1977, Dartmouth College has had a conflict of interest policy. That policy, however, has not undergone a general review for many years. In the meantime, the Public Health Service has substantially revised its objectivity-in-research regulations.
This document reflects both a general review of Dartmouth College's conflict of interest policy and the adoption of procedures to comply with the revised Public Health Service requirements. It is organized as follows:
Sections I through III of this policy apply to all Dartmouth College community members, including community members with faculty appointments at the Geisel School of Medicine who are not employed by Dartmouth College.
The Appendix of this Policy applies to all Dartmouth College community members who (1) are conducting research at Dartmouth that is administered through the Office of Sponsored Projects (OSP) or other offices or departments within Dartmouth College and/or (2) are employed by Dartmouth College.
"COIC" means the subcommittee of the Council on Sponsored Activities referred to as the Conflict of Interest Committee composed of persons appointed by the Chair of the Council on Sponsored Activities.
"Dartmouth College" means all of Dartmouth College, including Amos Tuck School of Business Administration, Audrey and Theodor Geisel School of Medicine at Dartmouth and Thayer School of Engineering, and affiliated organizations controlled by Dartmouth College (e.g., Dartmouth Educational Loan Corporation).
"Entity" means a corporation, partnership, limited liability company, joint venture, trust, unincorporated organization, government or governmental or regulatory body, political subdivision or authority of any government, or any other body.
"Investigator" means the PD or PI and any other person, regardless of title or position, who is responsible for the design, conduct, or reporting of any Research Activity, which may include, without limitation, collaborators and consultants.
"PHS" means the Public Health Service of the U.S. Department of Health and Human Services, and any components of the PHS to which the authority involved may be delegated, including without limitation the National Institutes of Health.
"Research" means a systematic investigation, study or experiment designed to develop or contribute to generalizable knowledge, including behavioral and social-sciences research and including investigations involving human subjects. The term encompasses basic and applied research and product development. The term includes any such activity for which research funding is available from any Entity, including without limitation a PHS Awarding Component, through a grant or cooperative agreement, such as a research grant, career development award, center grant, individual fellowship award, institutional training grant, program project, or research resources award.
"Research Activities" means all Research or other activities administered through the OSP, the TTO, or the CPHS including without limitation any Research funded, or proposed to be funded, by any government agency or external private organization.
All decisions by members of the Board of Trustees, administrators, appointees (including faculty), and other employees, of Dartmouth College in the course of performing their professional responsibilities to Dartmouth College, as well as research fellows and students engaged in certain research projects, should be made in a manner consistent with the principles of honesty and integrity. Dartmouth College acknowledges that outside interests can be maintained in a manner consistent with these principles. A conflict of interest occurs when an individual's outside interests, financial or otherwise, might reasonably lead an independent observer to question whether the individual's actions or decisions in connection with his or her Dartmouth College-related professional activities are influenced by considerations of such outside interests. Not all outside interests constitute conflicts of interest and not all conflicts of interest are necessarily impermissible. The purpose of this Conflict of Interest Policy is to provide mechanisms whereby conflicts of interest can be identified and appropriate steps can be taken to address them.
In the event that a trustee, administrator, appointee (including a faculty member), or other employee, of Dartmouth College, or any research fellow or student Investigator, has an outside interest, financial or otherwise, that might lead an independent observer reasonably to question whether such person's actions or decisions in connection with his or her Dartmouth College-related professional activities are influenced by considerations of such outside interest, such person shall, as soon as he or she has knowledge of the relevant circumstances, take the following actions:
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