CONFLICT OF INTEREST

The purpose of this policy is to protect AUTM's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer, trustee, committee chair, committee member or other volunteer. This policy is intended to supplement but not replace any applicable state laws governing conflicts of interest applicable to nonprofit corporations.

Conflict of interest arises whenever the personal or professional interests of a volunteer leader are potentially at odds with the best interests of AUTM. Such situations may be acceptable if they benefit AUTM and if decisions are made in an objective and informed manner. This conflict of interest policy should not be construed as creating a presumption of impropriety in the existence of financial or other interests. Rather, this policy is intended to address conflicts primarily through liberal disclosure of any financial or other interest which might be construed as resulting in an actual, potential or apparent conflict.

To help minimize the possibility of conflict of interest, AUTM will seek competitive bids whenever possible and practical for services and arrangements that could involve volunteers.

Any officer, trustee, committee chair, committee member or other volunteer who has a direct or indirect non-financial or financial interest, as defined below, may have a conflict of interest. A person has a financial interest if the person has, directly or indirectly, through business, investment or family:

• an ownership or investment in any entity with which AUTM has a transaction or arrangement, or
• a compensation arrangement with AUTM or with any entity or individual with which AUTM has a transaction or arrangement.

Compensation includes direct and indirect remuneration as well as gifts or favors that are substantial in nature. A financial interest is not necessarily a conflict of interest. A person who has a financial or non-financial interest may be barred from participation only if the appropriate board or committee decides that disclosure is not sufficient to deal with actual or potential problems.

Duty to Disclose

All AUTM officers, trustees, committee chairs, committee members and other volunteers are required to disclose any actual or potential financial or non-financial interest which he or she may have in any matter pending before AUTM that could be construed as resulting in a conflict of interest.

Procedures for Addressing the Conflict of Interest

Once an interest is disclosed to the relevant parties, they generally will be able to evaluate and adjust for the possible influence of the disclosed interest. If it is determined that a conflict of interest exists, the Board of Trustees, or appropriate committee, may require any action it deems appropriate, including, but not limited to, the following:

1. Investigation of alternatives to the proposed transaction or arrangement that may be equally advantageous but not give rise to a conflict of interest.
2. Disclosure of the interest to the other participants in the decision- or policy-making body.
3. Written and/or oral disclosure of the interest to an audience receiving the results of the project, activity, or transaction (e.g., research results).
4. Recusal from voting on a matter and limitation of an individual's participation only to the provision of factual information of benefit to the group discussion or decision-making process.
5. Complete recusal from a portion of the meeting or from other review of, or participation in, the project, activity or transaction.
6. Replacement of the individual in the subject position or activity.

Additional Points

Any officer, trustee, committee chair, committee member or other volunteer shall refrain from obtaining any list of AUTM members or event participants for personal or private solicitation purposes at any time during the term of his or her volunteer affiliation with AUTM.