Sharif University of Technology Association Conflict of Interest Policy

Preamble

Nonprofits are required to adhere to state and federal regulation and legislation. While its philanthropic mission is the driving force behind an organization, legal obligations must be taken into consideration. A Corporate Compliance Plan can be a valuable tool that can help facilitate a nonprofit’s accountability and transparency, aid in the discovery of illegal or unethical actions, and assist in ensuring that organizations comply with regulations and laws governing public charities.

Nonprofits must focus on corporate compliance because certain compliance violations can lead to penalties as well as adverse publicity. The essential components of the Compliance Plan are Conflict of Interest Policy, Confidentiality Policy and Code of Conduct Policy.

Conflict of Interest

I. Purpose

A conflict of interest occurs where individuals’ role to further the organization’s academic and professional purposes benefits, or can be construed to benefit their own financial, professional, or personal interests.

The purpose of this policy is to:

1. Protect the integrity of the Sharif University of Technology Association’s decision-making process, to enable our members to have confidence in our integrity, and to protect the integrity and reputation of the organization’s Directors, Officers, and Volunteers.
2. Help ensure that when actual or potential conflicts of interest arise, the organization has a process in place through which the subject individual is obligated to advise the Board of Directors or any authorized body defined by the Bylaws about all the relevant facts concerning the situation.
3. Help ensure that in case an actual case of conflicts of interest is verified, the organization has a process in place to assess such cases and deal with them accordingly.
4. Establish procedures under which individuals who have a conflict of interest will be excused from voting and/or decision making on such matters.

II. Policy

All Directors, Officers, and Volunteers (collectively called Members in this document) will strive to avoid any conflict of interest between the interests of Sharif University of Technology Association on the one hand, and personal, professional, and business interests on the other. This includes avoiding actual conflicts of interest as well as the potential conflicts of interest.

1. Upon appointment each Member will sign and submit a full statement of disclosure of interests, such as relationships, and posts held, that could potentially result in a conflict of interest. This written disclosure will be kept on file and will be updated as appropriate.
2. In the course of meetings or activities, Members will disclose any interests in a transaction or decision where there may be an actual or potential conflict between the organization’s best interests and the Member’s best interests or a conflict between the best interests of two organizations that Members are involved with.
3. After such disclosure, the Member may not be able to take part in the decision depending on the judgment of the other Members present at the time.
4. Any such disclosure and the subsequent actions taken will be noted in the minutes.
5. Members will not use, publish or disclose confidential information during or subsequent to their engagement at SUTA and will preserve the restricted nature of such information except to the extent that it becomes publicly available, or is otherwise lawfully obtained outside the scope of this agreement from third parties.
6. This policy is meant to supplement good judgment and staff, volunteers and management committee Members should respect its spirit as well as its wording.

All Members described in item “a” shall sign the appended form and will update it if her/his situation changes with regards to this policy that will be kept in SUTA’s filing system.

Violation of this policy may result in the SUTA Board of Directors decision to take appropriate disciplinary action, including removal/dismissal of the Member.

Examples of Potential Conflicts of Interest

It is impossible to list all the possible circumstances that could present a conflict of interest. Potential conflicts of interest include situations in which a director, officer or key person or that person’s relative or business:

• has an ownership or investment interest in any third party that SUTA deals with or is considering dealing with;
• serves on the board of, participates in the management of, or is otherwise employed by or volunteers with any third party that SUTA deals with or is considering dealing with;
• receives or may receive compensation or other benefits in connection with a transaction into which SUTA enters;
• receives or may receive personal gifts or loans from third parties dealing with SUTA;
• serves on the board of directors of another nonprofit organization that is competing with SUTA for a grant or contract;
• has a close personal or business relationship with a participant in a transaction being considered by SUTA;
• would like to pursue a transaction being considered by SUTA for their personal benefit.

A potential conflict of interest is not necessarily a conflict of interest. A person has a conflict of interest only if following the thorough investigation, the Board of Directors or authorized body specified in the Bylaws decides it is a conflict of interest.

Conflict of Interest Disclosure and Confidentiality Statement Agreement Form for Admins/Volunteers and Board Members at SUTA

During the time that I serve as the member of board of directors or admin/volunteer at Sharif University of Technology (SUTA), I realize that I will gain access to SUTA assets and information that is considered to be confidential and/or proprietary. Such information relates to members’ contact information, submitted proposals and criteria or decisions made with regard to the business of SUTA.

Since SUTA has the obligation to protect such information:

1. I agree that I will not use, publish or disclose such information during or subsequent to my engagement at SUTA, and that I will preserve the restricted nature of this information except to the extent that it becomes publicly available, or is otherwise lawfully obtained outside the scope of this agreement from third parties.
2. I agree to transfer my access to SUTA assets to the SUTA Board of Directors upon termination of my duties or at the request of the SUTA Board of Directors.
3. Additionally, as a member of the board or admin/volunteer, I realize that I have an obligation to disclose and eliminate (if necessary) any potential or actual duality of interest or conflict of interest.

Below, I have listed all corporations (for-profit or not-for-profit), and community organizations that I, or a member of my immediate family, have a relationship with, that have sought or may in the future seek to do business with SUTA.

The term “relationship” means any relation with a person or organization, whether employment (such as a volunteer assignment, part-time job or as a consultant or independent contractor) or fiduciary (such as a board member or officer). The term “immediate family” means spouse, parent, and children.

______________________________________________________________________________

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4. I also agree that I will respect and follow all resolutions, documents and protocols of SUTA, and execute all future resolutions and documents set by the SUTA Board of Directors.

I hereby certify that I have read, understand and agree to the SUTA’s Compliance Policy with respect to confidential information and conflict of interest, and that the information given in this statement is complete and accurate to the best of my knowledge.

I also agree to update and resubmit this form if my situation changes with regards to this policy.

Full Name: ____________________________________

Signature: ____________________________________      Date: ______________________