NM musicians concert 4/30/2011

The New Mexico Philharmonic Orchestra (the "NMPO") is a non-profit, tax-exempt organization. Maintenance of its tax-exempt status is important for both its continued financial stability and for public support. Therefore, the Internal Revenue Service, as well as State regulatory and tax officials view the operations of the NMPO as a public trust, which is subject to scrutiny by and is accountable to such governmental authorities as well as to members of the public.

Consequently, there exists between the NMPO (and its Board of Trustees, officers, and professional staff) and the public a fiduciary duty, which carries with it a broad and unbending duty of loyalty and fidelity. The Board, officers, and professional staff have the responsibility of administering the affairs of the NMPO honestly and prudently, and of exercising the best care, skill, and judgment for the sole benefit of the NMPO. Those persons shall exercise the utmost good faith in all transactions involved in their duties, and they shall not use their positions with the NMPO or knowledge gained there from for their personal benefit or for the benefit of another individual or entity. The interests of the organization must be the first priority in all decisions and actions.

Section 2. PERSONS CONCERNED

This statement is directed not only to Trustees and officers, but to all employees and to key volunteers who can influence the actions or decisions of NMPO. For example, this would include all who make purchasing decisions, all professional staff, and anyone who has proprietary information concerning NMPO.

Section 3. AREAS IN WHICH CONFLICT MAY ARISE:

Conflicts of interest may arise in the relations of directors, officers, professional staff and certain volunteers with any of the following third parties:

1. Persons and firms supplying goods to NMPO.

2. Persons and firms from whom NMPO leases property and equipment.

3. Persons and firms with whom NMPO is dealing or planning to deal in connection with the gift, purchase or sale of real estate, securities, or other property.

4. Competing or affinity organizations

5. Donors and others supporting NMPO.

6. Agencies, organizations, and associations which affect the operations of NMPO.

7. Family members, friends, and other employees.

Section 4. NATURE OF CONFLICTING INTEREST:

A conflicting interest may be defined as an interest, direct or indirect, with any persons or firms mentioned in Section 3. Such an interest might arise through:

1. Owning stock or holding debt or other proprietary interests in any third party dealing with NMPO.

2. Holding office, serving on the board, participating in management, or being otherwise employed (or formerly employed) with any third party dealing with NMPO.

3. Receiving remuneration for services with respect to individual transactions involving NMPO.

4. Using NMPO's time, personnel, equipment, supplies, or goodwill for other than NMPO-approved activities, programs, and purposes.

5. Receiving personal gifts or loans from third parties dealing or competing with NMPO. Receipt of any gift is disapproved except gifts of value less than $50, which could not be refused without discourtesy. No personal gift of money should ever be accepted.

Section 5. INTERPRETATION OF THIS STATEMENT OF POLICY:

The areas of conflicting interest listed in Section 3, and the relations in those areas which may give rise to conflicts, as listed in section 4, are not exhaustive. Conflicts might arise in other areas or through other relations. It is assumed that the directors, officers, professional staff, and key volunteers will recognize such areas and relations by analogy.

The fact that one of the interests described in section 4 exists does not necessarily mean that a conflict of interest exists, or that the conflict, if it exists, is material enough to be of practical importance, or if material, that upon full disclosure of all relevant facts and circumstances it is necessarily adverse to the interests of NMPO.

However, it is the policy of the Board of Trustees that the existence of any of the interests described in section 4 shall be disclosed before any such transaction is consummated. It shall be the continuing responsibility of the Board of Trustees, officers, and professional staff to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures.

Section 6. DISCLOSURE POLICY AND PROCEDURE:

Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed:

1. The conflicting interest is fully disclosed;

2. The person with the conflict of interest is excluded from the discussion and approval of such transaction;

3. A competitive bid or comparable valuation exists; and

4. The Committee on Trusteeship of the Board of Trustees has determined that the transaction is in the best interest of the organization.

Disclosure in the organization should be made to the Executive Director and the President of the Board of Trustees, who shall bring the matter to the Committee on Trusteeship. Disclosure involving Trustees should be made to the Board chair (or if she or he is the one with the conflict, then to the immediate past president), who shall bring these matters to the Committee on Trusteeship.

The Committee on Trusteeship shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to NMPO.
The decision of the Committee on Trusteeship on these matters will rest in their sole discretion, and their concern must be the welfare of NMPO and the advancement of its mission.

Section 7. PUBLICATION OF POLICY:

This policy shall be maintained in the official policies of NMPO, and it shall be made available to members of NMPO's Board of Trustees, officers, professional staff, and key volunteers. It is the intention of NMPO to publish this policy on the NMPO's official website.

http://www.koat.com/video/27733912/detail.html

New Mexico Musicians concert, Popejoy Hall, April 30 2011

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Copyright © 2012 The Cognitive Behavioral Institute of Albuquerque, LLC Last modified: 04/22/12

Copyright © 2012 The Cognitive Behavioral Institute of Albuquerque, LLC
Last modified: 04/22/12