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Any potential conflict of interest on the part of any Trustee, officer or committee member shall be disclosed in writing to the Board and made a matter of record through an annual disclosure form and also when the interest involves a specific issue or transaction before the Board. If a conflict arises after a Trustee has completed the annual form, the Trustee should complete an amended form disclosing the new conflict.
Where a transaction with Concord Hospital involving a Trustee, officer or committee member (or an entity of which the Trustee or officer or a member of his/her immediate family is a proprietor, partner, employee or officer), combined with all other transactions in the same fiscal year involving the same person, exceeds five hundred dollars ($500), but is less than five thousand dollars ($5,000), a two-thirds (2/3) vote by the members of the Board of Trustees, not including any Trustee(s) with an interest in the transaction, is required to approve the transaction. Where the transaction involved, combined with all other transactions in the same fiscal year involving the same person, exceeds five thousand dollars ($5,000) in a fiscal year, a two-thirds vote approving the transaction and publication of a legal notice in the Concord Monitor newspaper is required, together with written notice to the Director of Charitable Trusts, Attorney General’s Office. The minutes of the meeting shall reflect that a full and fair disclosure was made and that all disqualified parties and Trustees were absent during both the discussion and the voting on the transaction.
Reasonable compensation for professional services of members of the hospital’s professional medical or nursing staff who also serve as members of the governing board of the hospital shall not constitute a “pecuniary benefit transaction” and, therefore, shall not be subject to the above procedures.
This organization shall not loan any money or property to any Trustee or officer or enter into any sale, purchase or lease (for a term greater than five years) of real estate to or from a Trustee or officer without the prior approval of the probate court.
A conflict of interest may be only a matter of degree, but exists when the Trustee, officer or committee member:
A. Acts to his or her benefit directly or indirectly by using authority or inside information, or allows a friend, relative or associate to benefit from such authority or information.
B. Uses authority or information to make a decision to intentionally affect Concord Hospital in an adverse manner.
The Trustee, officer or committee member shall:
A. Conduct all personal and professional relationships in such a way that all those affected are assured that governance decisions are made in the best interests of Concord Hospital and the individuals served by it;
B. Disclose to the Board any direct or indirect financial or personal interests, as well as any appointments or elections to boards or committees inside or outside Concord Hospital that pose potential or actual conflicts of interest; and
C. Accept no gifts or benefits offered with the expressed or implied expectation or appearance of influencing a governance decision. Specifically, the Trustee, officer or committee member shall not accept any gift, meal, entertainment, favors or personal services of nominal retail value greater than $50 in any one year from any individual or organization who has or desires a business relationship with Concord Hospital. (Perishable or consumable gifts given to a committee or board are not subject to any specific limitation.)
Each Trustee, officer and committee member, upon entering the duties of his/her office and annually thereafter, will be advised of this policy and shall sign a statement acknowledging understanding of and agreement to this policy.
Approved by Concord Hospital Board 5/15/06
Revised by Governance Committee 7/6/06
Approved by Concord Hospital Board 9/25/06
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