Conflict of Interest Policy
Last Updated: March 1, 2026
The purpose of the Conflict of Interest Policy for the Filipino-American Association of the Tri-Cities is to protect the organization’s interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of a board member, officer, or key employee. This policy helps maintain the integrity of the association’s decision-making process and fosters public trust.
1. Covered Individuals
This policy applies to all members of the Board of Directors, officers, and individuals with a controlling interest in the association’s decisions or finances (“Interested Persons”).
2. Definition of a Conflict of Interest
A conflict of interest exists when the personal interests of a covered individual, or those of their immediate family members or associated businesses, diverge from the interests of the Association. A conflict may arise from:
- Financial Interests: A director having an ownership or compensation arrangement with any entity from which the Association purchases goods or services.
- Competing Loyalties: A director holding a leadership position in a competing or collaborating non-profit organization.
- Gifts and Favors: The acceptance of significant gifts, favors, or entertainment from parties conducting business with the Association.
3. Procedures for Addressing Conflicts
When a conflict of interest or potential conflict is identified, the following procedures apply:
- Disclosure: The Interested Person must immediately disclose the existence of any actual or possible conflict of interest to the Board of Directors or a committee handling the matter.
- Recusal: The Interested Person shall not vote or verbally influence the decision on the matter in question.
- Documentation: The minutes of the meeting shall record the existence of a conflict, the nature of the disclosure, and the Interested Person’s recusal from the discussion and vote.
4. Annual Statements
Every director, officer, and key employee shall annually sign a statement that affirms they:
- Have received a copy of this Conflict of Interest Policy.
- Have read and understood the policy.
- Have agreed to comply with the policy.
- Have disclosed all conflicts of interest known to the individual.
5. Review
The Board of Directors shall review this policy annually to ensure its relevance and effectiveness in promoting ethical governance.
6. Contact Us
If you have any questions about our policies, please email us at: tricitiesfilam@gmail.com