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Palm Springs Front Runners and Walkers

Conflict-of-Interest Policy

The Officers and Directors of the Palm Springs Front Runners and Walkers (PSFR&W) owe a duty of loyalty to PSFR&W, which requires that in serving PSFR&W they act, not in their personal interests or in the interests of others, but rather solely in the interests of the PSFR&W.  Officers and Directors must have undivided allegiance to PSFR&W’s mission and may not use their positions, information they have about PSFR&W, or PSFR&W’s property, in a manner that allows them to secure a pecuniary benefit for themselves or their relatives.

The conduct of personal business between any Officer and Director and PSFR&W is prohibited.  Business transactions of the PSFR&W with any Officer or Director shall be reviewed carefully to determine that they are in the best interests of PSFR&W and need to be approved by the PSFR&W Board of Directors.

For the purposes of this policy, an Officer or Director 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, manager, principal officer, or employee in any such organization.  Prior to the start of any negotiations, or consideration of a grant request by the PSFR&W, Officers and Directors 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, supplying any reasons why the transaction might not be in the best interests of PSFR&W.

An Officer or Director 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 or Director shall not use inside information of the PSFR&W for his/her personal benefit, or use such inside information or his/her position as an Officer or Director to the detriment of PSFR&W.  Inside information is information obtained through the Officer’s or Director’s position that has not become public information.

Each Officer or Director has a duty to place the interests of PSFR&W foremost in any dealings involving PSFR&W 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.