CONFLICT OF INTEREST POLICY
It is the policy of the ARTS COUNCIL to require each of its directors, officers and employees to conduct his or her outside employment and personal business in a manner that will avoid any likelihood of a conflict or appearance of a conflict.
A director, officer, or employee shall be considered to have a personal or professional interest in a program, publication, contract, grant, or similar transaction from which the director, officer, employee or a member of his/her immediate family (i.e., spouse, child, siblings, parents) will or could receive payments, profits or other remuneration, or if any commercial or non-profit entity with which they are associated may similarly benefit. A conflict of interest also occurs whenever an individual has a relationship with other parties to the transaction or matter such that the relationship might reasonably be expected to affect the judgment of the individual in the particular transaction or matter in a manner adverse to the Greater Hartford Arts Council. (Please see instructions for IRS Form 990 Schedule L for greater specificity on “transactions involving interested persons.”)
All employees are required to sign a “Conflict of Interest” form upon the commencement of their employment and then annually thereafter. At the time of their initial election, and then annually thereafter, all directors and officers are required to fill out the form and return it to the Human Resources department. Employees, directors and officers are expected to request and fill out a new form during the course of the year if material conflicts arise.
The Audit Committee of the Board of Directors will review Conflict of Interest forms annually.
The ARTS COUNCIL reserves the right to determine the existence of a conflict, or appearance of a conflict, in any given circumstances, and to take appropriate corrective action as required.
All conflicts of interest will be disclosed annually through IRS Form 990.