Conflict of Interest
The Board of Trustees of the Springfield Foundation adopted a new Confidentiality & Conflict of Interest Policy on March 23, 2005 to reinforce its commitment to the highest ethical standards in the conduct of the Foundation's affairs and the operation of its charitable giving programs.
The policy governs the participation of the board, committee members and the Foundation's employees in matters in which they may have a conflict of interest, including evaluating and approving grants and other transactions undertaken by the Foundation.
The policy also mandates that a disclosure statement be updated annually by each trustee and employee, listing the names of nonprofit organizations or businesses/corporations in which they or an immediate family member hold a position that may give rise to a potential conflict between personal interests and the interests of the Foundation. These are kept on file in the Foundation office.
Responsibility for the interpretation and implementation of the conflict of interest policy resides with the Foundation's Board of Trustees.