Purpose
This Conflict of Interest Policy is designed to help directors, officers, and key volunteers of Hack4Impact identify situations that present potential conflicts of interest and provide procedures to appropriately manage conflicts in accordance with legal requirements and ethical standards. The policy is intended to supplement but not replace applicable state and federal laws governing conflicts of interest applicable to nonprofit and charitable organizations.
Definitions
Interested Person: Any director, officer, Executive Director, chapter leader, or key volunteer who has a direct or indirect financial interest, as defined below, or who is in a decision-making position regarding the matter under consideration.
Financial Interest: A person has a financial interest if the person has, directly or indirectly, through business, investment, or family:
- An ownership or investment interest in any entity with which the Corporation has a transaction or arrangement
- A compensation arrangement with the Corporation or with any entity or individual with which the Corporation has a transaction or arrangement
- A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the Corporation is negotiating a transaction or arrangement
Conflict of Interest: A conflict of interest exists when an Interested Person's financial interest could reasonably be expected to impair their objectivity when participating in decisions on behalf of the Corporation.
Key Volunteer: Any volunteer in a leadership position including but not limited to:
- Chapter Co-Executive Directors and Directors
- Committee Chairs with decision-making authority
- Other volunteers designated by the Board as having significant decision-making authority
Procedures
Annual Disclosure
- Annual Disclosure Statements: All directors, officers, Executive Director, and key volunteers must annually complete and sign a disclosure statement identifying any relationships, commitments, or financial interests that could give rise to conflicts of interest.
- Project-Level Disclosure: Project team leaders (Tech Leads, Product Managers) and sourcing team members must complete project-specific conflict disclosure at the start of each project.
- New Appointment Disclosure: Any person being considered for appointment as a director, officer, or key volunteer position must complete a disclosure statement before appointment.
- Ongoing Disclosure: All volunteers have an ongoing duty to disclose conflicts that arise during the year.
Conflict Identification and Management