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Disclosures
The
Monument of the Immortals is an independent
international nonprofit organization and is
not affiliated with the International Olympic
Committee or any national Olympic organizing
committees.
This
policy is intended to supplement, but not
replace, all laws governing conflict of interest
applicable to nonprofit corporations. It
applies to Board members and staff with significant
decision-making authority. Persons
covered under this policy, as well as their
relatives and associates, are hereinafter
referred to as "interested parties."
A
conflict of interest may exist when the interests
or concerns of an interested party may be
seen as competing with the interests or concerns
of THE MONUMENT OF THE IMMORTALS. There
are varieties of situations that raise conflict
of interest concerns including, but not limited
to, the following:
A
conflict may exist where an interested
party directly or indirectly benefits or
profits as a result of a decision, policy
or transaction made by THE MONUMENT OF
THE IMMORTALS. Examples
include situations where:
1. THE
MONUMENT OF THE IMMORTALS contracts to
purchase or lease goods, services, or properties
from an interested party.
2. THE
MONUMENT OF THE IMMORTALS offers employment
to an interested party, other than a person
who is already employed by THE MONUMENT
OF THE IMMORTALS.
3. An
interested party is provided with a gift,
gratuity, or favor of a substantial nature
from a person or entity that does business
or seeks to do business with THE MONUMENT
OF THE IMMORTALS.
4. An
interested party is gratuitously provided
use of the facilities, property, or services
of THE MONUMENT OF THE IMMORTALS.
5. THE
MONUMENT OF THE IMMORTALS adopts a policy
that financially benefits an interested
party.
B.
Other Interests
A
conflict also may exist where an interested
party obtains a non-financial benefit or
advantage that he/she would not have obtained
absent his/her relationship with THE MONUMENT
OF THE IMMORTALS. Examples include where:
1. An
interested party seeks to make use of confidential
information obtained from THE MONUMENT
OF THE IMMORTALS for his/her own benefit
(not necessarily financial) or for the
benefit of another interested party.
2. An
interested party seeks to take advantage
of an opportunity or enables another interested
person or other organization to take advantage
of an opportunity that he/she has reason
to believe would be of interest to THE
MONUMENT OF THE IMMORTALS.
3. THE
MONUMENT OF THE IMMORTALS adopts a policy
that provides a significant non-financial
benefit to an interested party.
III.
Disclosure of Potential Conflicts of Interest
An
interested party is under a continuing obligation
to disclose any potential conflict of interest
as soon as it is known or reasonably should
be known. An
interested party shall complete the Questionnaire
attached as Appendix A to fully and
completely disclose the material facts about
any potential conflicts of interest.
The
disclosure statement and Affirmation of Compliance
(Appendix B) shall be submitted upon
his/her association as a Board member of
THE MONUMENT OF THE IMMORTALS, and shall
be reviewed annually thereafter by the Board
member. An
additional disclosure statement shall be
filed whenever a potential conflict arises.
Disclosure
statements will be submitted as follows:
For
Board members, the disclosure statements
shall be provided to the President of the
Board. The
Executive Director’s disclosure statement
shall be provided to the Secretary of the
Board or its equivalent. Copies
also shall be provided to the Executive Director
of THE MONUMENT OF THE IMMORTALS.
In
the case of staff with significant decision-making
authority, the disclosure statements shall
be provided to the Executive Director of
THE MONUMENT OF THE IMMORTALS. In
the case of the Executive Director, the disclosure
statement shall be provided to the President
of the Board.
In
all cases, the recipient is the designated
reviewing official responsible for bringing
potential conflicts to the attention of the
appropriate authorities. The
recipient shall provide the Secretary of
the Board of Directors copies and they shall
file copies of all disclosure statements
with the official corporate records of THE
MONUMENT OF THE IMMORTALS.
IV.
Procedures for Review of Potential Conflicts
Whenever
there is reason to believe that a potential
conflict of interest exists, the Board of
Directors shall determine the appropriate
response. This shall include, but not necessarily
be limited to, invoking the procedures described
below with respect to a specific proposed
action, policy or transaction.
The
designated reviewing official has a responsibility
to bring a potential conflict of interest
to the attention of the Board promptly for
action at the next regular meeting of the
Board or during a special meeting called
specifically to review the potential conflict
of interest.
Where
the potential conflict involves an employee
of THE MONUMENT OF THE IMMORTALS other than
the Executive Director, the Executive Director
shall be responsible for reviewing the matter
and may take appropriate action as necessary
to protect the interests of THE MONUMENT
OF THE IMMORTALS.
The
Executive Director shall report to the President
the results of any review and the action
taken. The
President shall determine whether any further
Board review or action is required.
V.
Procedures for Addressing Conflicts of Interest
Where
a potential conflict exists between the interests
of THE MONUMENT OF THE IMMORTALS and an interested
party with respect to a specific proposed
action, policy or transaction, the Board
of Directors shall consider the matter during
a meeting of the Board.
THE
MONUMENT OF THE IMMORTALS shall refrain from
acting until such time as the proposed action,
policy or transaction has been approved by
the disinterested members of the Board of
Directors of THE MONUMENT OF THE IMMORTALS.
The
following procedures shall apply:
1. An
interested party who has a potential conflict
of interest with respect to a proposed
action, policy or transaction of the corporation
shall not participate in any way in, or
be present during, the deliberations and
decision-making vote of THE MONUMENT OF
THE IMMORTALS with respect to such action,
policy or transaction. However, the interested
party shall have an opportunity to provide
factual information about the proposed
conflict and/or action, policy or transaction. Also,
the Board may request that the interested
party be available to answer questions.
2. The
disinterested members of the Board of Directors
may approve the proposed action, policy
or transaction upon finding that it is
in the best interests of THE MONUMENT OF
THE IMMORTALS. The
Board shall consider whether the terms
of the proposed action, transaction or
policy are fair and reasonable to THE MONUMENT
OF THE IMMORTALS and whether it would be
possible, with reasonable effort, to find
a more advantageous rrangement with a party
or entity that is not an interested party.
3. Approval
by the disinterested members of the Board
of Directors shall be by vote of a majority
of Directors in attendance at a meeting
at which a quorum is present. An
interested party shall not be counted for
purposes of determining whether a quorum
is present, or for purposes of determining
what constitutes a majority vote of Directors
in attendance.
4. The
minutes of the meeting shall reflect that
the conflict disclosure was made to the
Board, the vote taken and, where applicable,
the abstention from voting and participation
by the interested party. Whenever possible,
the minutes should frame the decision of
the Board in such a way that it provides
guidance for consideration of future conflict
of interest situations.
VI.
Violations of Conflict of Interest Policy
If
the Board of Directors has reason to believe
that an interested party has failed to disclose
a potential conflict of interest, it shall
inform the person of the basis for such belief
and allow the person an opportunity to explain
the alleged failure to disclose.
If
the Board decides that the interested party
has in fact failed to disclose a possible
conflict of interest, the Board shall take
such disciplinary and corrective action
as the Board shall determine.
Conflict
of Interest Questionnaire
Please
complete the questionnaire below, indicating
any potential conflicts of interest. If you
answer 'Yes' to any of the questions, please
provide a written description of the details
of the specific action, policy or transaction
in the space allowed.
Financial
Interests - A conflict may
exist where an interested party directly
or indirectly benefits or profits as
a result of a decision, policy or transaction
made by the Board of Director.
During
the past 12 months (for each 'Yes' response,
please describe on a separate page):
1. Has
THE MONUMENT OF THE IMMORTALS proposed
to contract or contracted to purchase or
lease goods, services, or property from
you or from any of your relatives or associates,
or from an entity in which you hold a significant
ownership interest?
Yes
No
2. Has
THE MONUMENT OF THE IMMORTALS offered
employment to you (not applicable to
existing staff) or to any of your relatives
or associates?
Yes
No
3. Have
you, or any of your relatives or associates,
been provided with a gift, gratuity,
or favor of a substantial nature from
a person or entity that does business
or seeks to do business with THE MONUMENT
OF THE IMMORTALS?
4. Have
you or any of your relatives or associates
been gratuitously provided use of the
facilities, property, or services of
THE MONUMENT OF THE IMMORTALS?
5. Have
you, a relative or an associate, or an
entity in which you hold a significant
ownership interest, been in a position
to benefit financially from an action,
policy or transaction made by THE MONUMENT
OF THE IMMORTALS?
Other
Interests - A conflict may
also exist where an interested party obtains
a non-financial benefit or advantage that
he/she would not have obtained absent his/her
relationship with THE MONUMENT OF THE IMMORTALS,
or where his/her duty or responsibility
owed to THE MONUMENT OF THE IMMORTALS conflicts
with a duty or responsibility owed to some
other organization.
Conflict
of Interest Affirmation of Compliance
I
have received and carefully read the Conflict
of Interest Policy for Board members and
staff with significant decision making authority
of THE MONUMENT OF THE IMMORTALS and have
considered not only the literal expression
of the policy, but also its intent.
By
signing this affirmation of compliance, I
hereby affirm that I understand and agree
to comply with the Conflict of Interest Policy.
I
further understand that THE MONUMENT OF THE
IMMORTALS is a nonprofit organization and
that in order to maintain its federal tax
exemption it must engage primarily in activities
that accomplish one or more of its tax-exempt
purposes without personal inurement (other
than by salary) by Board members or staff.
Except
as otherwise indicated in the Disclosure
Questionnaire and attachments below, I hereby
state that I do not have any conflict of
interest, financial or otherwise that competes
with the interests of THE MONUMENT OF THE
IMMORTALS, nor does any relative or associate
have such a potential conflict of interest,
nor shall I, any relative or associate inappropriately
benefit from any action, policy, or transaction
made by THE MONUMENT OF THE IMMORTALS in
a manner that has not been previously disclosed.
If
any situation should arise in the future
that I think may involve me in a conflict
of interest, I will promptly and fully disclose
in writing the circumstances to the President
of the Board of Directors of THE MONUMENT
OF THE IMMORTALS or to the Executive Director,
as applicable.
I
further certify that the information set
forth in the Disclosure Statement and attachments,
if any, is true and correct to the best of
my knowledge, information and belief.
Name
Signature
Date
Annual
Review and Reaffirmation
Signature
Date
Signature
Date
Signature
Date
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The
Monument of the Immortals is an independent international
nonprofit foundation.
All contributions are tax deductible unless prohibited by applicable
law.
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The
Monument of the Immortals:
3452 University Avenue Riverside, CA 92501 - or - Arch Makariou
95 #203, Nicosia, 1071 Cyprus
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