Conflict of Interest Policy
The board of directors of India USA Partnership™️ Foundation (“IUP”), a 501(c)(3) non-profit organization, is committed to maintaining the highest standards of integrity and ethical conduct. The board members have a fiduciary duty to act in the organization's and its mission's best interest and to avoid any actual or potential conflicts of interest that may arise from their personal or professional relationships. In line with this commitment, the Board has adopted a Conflict-of-Interest Policy that requires directors, officers, and key employees to act solely in the IUP’s interests without regard for personal interests.
This policy mandates that any actual or potential conflicts of interest be disclosed promptly to the Board. Individuals with a conflict of interest must abstain from participating in discussions or voting on matters where such a conflict exists.
A conflict of interest occurs when a board member's personal or professional interest is incompatible or in opposition to the organization's interest or when a board member uses their position or influence to obtain an improper benefit for themselves or a third party. A conflict of interest may also arise when a board member has a business relationship with another board member, a staff member, a contractor, a vendor, a donor, or a beneficiary of the organization.
The Board ensures that no business relationship exists between its members that could constitute a conflict of interest. All board members, officers, and key employees are expected to act in the best interest of the IUP, and any violation of this policy will be addressed in accordance with the procedures outlined in our written Conflict of Interest Policy. This policy affirms our dedication to transparency and ethical conduct and avoids any appearance of impropriety in the activities of the IUP.
To avoid any conflict of interest, the board members of this organization have agreed to the following rules:
-
No board member shall have a direct or indirect financial interest in any contract, transaction, or agreement involving the organization unless the board fully discloses and approves such interest.
-
No board member shall solicit or accept any gift, favor, loan, or anything of value from any person or entity that has or seeks to have a business relationship with the organization unless such gift, favor, loan, or anything of value is of nominal value and does not influence the board member's judgment or decision-making.
-
No board member shall use or disclose any confidential or proprietary information of the organization for their benefit or the benefit of any third party unless such use or disclosure is authorized by the board or required by law.
-
No board member shall engage in any activity or conduct that may harm the reputation or goodwill of the organization or that may interfere with the performance of their duties as a board member.
-
Any board member who becomes aware of a possible conflict of interest involving themselves or another board member shall promptly disclose it to the board chair or the board governance committee and recuse themselves from any discussion or vote.
The board of directors of this organization reviews and updates this disclaimer annually and requires each board member to sign a statement of compliance and disclose any potential or actual conflicts of interest. The board of directors of this organization reserves the right to take any appropriate action to address any violations of this disclaimer, including removing a board member from the board.
Source(s)
1. Conflicts of Interest | National Council of Nonprofits
2. Governance and Related Topics - 501(c)(3) Organizations
Disclaimers:
Use of Generative AI: Please note that the content of this document has been improved with the assistance of Microsoft Co-pilot, a Microsoft-provided AI service, to ensure clear communication. Co-pilot respects user confidentiality and does not retain the content of this letter. All information supplied by the Co-pilot undergoes verification for accuracy and relevance. The use of Co-pilot is governed by Microsoft’s terms of service.