Frederick Steeplechasers Running Club
Board Approved February 23, 2015
The Officers, Directors (members of the Board of Directors, committee leads and committee members who do business on behalf of the club), and employees of the Frederick Steeplechasers Running Club (FSRC) owe a duty of loyalty to the FSRC, which requires that in serving FSRC they act, not in their personal interests or in the interests of others, but rather solely in the interests of the FSRC. Officers, Directors, and employees must have undivided allegiance to FSRC’s mission and may not use their positions, information they have about FSRC, or FSRC’s property, in a manner that allows them to secure a pecuniary benefit for themselves or their relatives.
Business transactions of the FSRC in which an Officer, Director, or employee has an interest shall not be prohibited, but they shall be subject to close scrutiny. Such proposed transactions shall be reviewed carefully to determine that they are in the best interests of FSRC and that they will not lead to conflict of interest. For the purposes of this policy, an Officer, Director, or employee has an interest in a proposed transaction if he/she has a substantial financial interest in it, or has a substantial financial interest in any organization involved in the proposed transaction, or holds a position as trustee, director, general manager, principal officer, or employee in any such organization. Prior to the start of any negotiations, or consideration of a grant request by the FSRC, Officers, Directors, and employees are expected to make full disclosure to the best of their knowledge of any dual interest in a proposed transaction by submitting a report to the President or other officer designated by the Board to handle such matters, supplying any reasons why the transaction might not be in the best interest of FSRC. In matters requiring prior approval of the Executive Board, the President or other officer shall forward copies of this disclosure report to the Board before its approval.
An Officer, Director, or employee with a dual interest in a proposed transaction shall not vote on the matter and, depending upon the circumstances, may be excluded from any discussion of the matter.
An Officer, Director, or employee shall not use inside information of the FSRC for his/her personal benefit, or use such inside information or his/her position as Officer, Director, or employee to the detriment of FSRC. Inside information is information obtained through the Officer’s, Director’s, or employee’s position that has not become public information.
Each Officer, Director, and employee has a duty to place the interests of FSRC foremost in any dealings involving the FSRC and has a continuing responsibility to comply with the requirements of this Policy. On an annual basis, each Officer and Director is required to complete a Conflict-of-Interest Disclosure Statement.
Frederick Steeplechasers Running Club
Conflict-of-Interest Disclosure Statement
Step 1: Initial and date in the space at the end of Item A OR complete Item B, whichever is appropriate.
Step 2: Complete Item C, and sign and date the statement and return it to the President.
Initials: _________ Date: ____________
For-profit corporate directorships, positions, and employment with:
Nonprofit trusteeships of positions:
Memberships in the following organizations:
Contracts, business activities, and investments with or in the following organizations:
Other relationships and activities:
I have read and understand the Frederick Steeplechasers Running Club’s conflict-of-interest policy and agree to be bound by it. I will promptly inform the President of the Frederick Steeplechasers Running Club of any material change that develops in the information contained in the foregoing statement.
Type/print name Signature Date