Policy Objective
The Baltimore Council on Foreign Affairs (BCFA) Board of Trustees is committed to maintaining the highest standards of integrity and transparency. This Conflict of Interest Policy is established to protect the interests of the BCFA by ensuring that decisions made by the Board of Trustees are made impartially and are free from any actual, potential, or perceived conflicts of interest.
Scope
This policy applies to all members of the Board of Trustees, officers, and key volunteers who have the ability to influence decisions and operations of the BCFA.
Definition of Conflict of Interest
A conflict of interest exists when a Trustee or a person closely associated with the Trustee (family member, business partner, employer, etc.) has a personal, financial, or other interest that may be perceived as influencing the Trustee’s ability to act solely in the best interests of the BCFA.
Examples of conflicts include, but are not limited to:
- Financial Interests: Trustee has a financial interest, directly or indirectly, in any entity or individual that does business with BCFA.
- Organizational Affiliation: Trustee serves as an officer, director, trustee, employee, or agent of an entity competing with or doing business with BCFA.
- Personal Gain: Trustee uses their position for personal profit or advantage.
- Other Relationships: Trustee’s personal relationships or circumstances interfere with impartiality or independence in decision-making.
Disclosure of Potential Conflicts
- Each Trustee shall promptly disclose any actual, potential, or perceived conflict of interest upon becoming aware of it.
- Disclosure should be made in writing to the Chair of the Board of Trustees or the designated officer for ethics and governance.
- New Trustees are required to disclose any existing conflicts at the beginning of their tenure.
Procedures for Managing Conflicts
- Recusal: A Trustee with a disclosed conflict shall recuse themselves from discussions and votes on any matter in which a conflict of interest exists.
- Review by the Board: The Chair or the designated officer may request that the matter be reviewed by an independent committee of the Board.
- Documentation: All disclosed conflicts and actions taken to resolve them shall be documented in meeting minutes.
- Periodic Review: The Board shall review this policy periodically and revise it as needed.
Annual Acknowledgment
Each Trustee shall annually complete and sign a Conflict of Interest Disclosure Form affirming that they have read and understood this policy and disclosed any relevant conflicts. This form shall be reviewed by the Board as part of ongoing governance.
Violations of the Policy
Trustees who fail to disclose conflicts of interest or act in violation of this policy may be subject to disciplinary actions, including removal from the Board, in accordance with the by-laws of BCFA.Policy Approval and Amendments
This Conflict of Interest Policy shall be approved by the Board of Trustees and may only be amended by a majority vote of the Board.