Does the New York Non-Profit Revitalization Act of 2013 apply to you?

Below is a summary of key points as they relate to conflict of interest.

Conflicts of Interest and Related Party Transactions

1. Creates new definitions of “independent director,” “related party” and “related party transactions.”

2. Prohibits an employee of a not-for-profit corporation from serving as the chair of the board of directors.

3. Prohibits directors, officers, and members from being present when compensation is deliberated, if such individuals might benefit from the compensation under discussion.

4. Prohibits not-for-profit corporations from entering into related party transactions, unless the board determines the transaction to be “fair, reasonable, and in the corporation’s best interest.”

5. Requires the board to consider alternatives to a related party transaction, when a related party has a “substantial financial interest.”

6. Prohibits related parties from participating in voting or deliberations concerning a related party transaction.

7. Authorizes the Attorney General to enjoin, void or rescind related party transactions or seek additional damages and other remedies, including removal of directors and officers.

8. Requires not-for-profit corporations to adopt conflict of interest policies and sets forth the requisite elements of such policies.

9. Requires directors to file with the corporation’s secretary an annual statement of any potential conflicts.

10. Adds “key employees” to the list of individuals against whom legal action may be brought for misconduct in relation to corporate assets.

11. Includes parallel provisions in the EPTL to govern charitable trusts.

Osprey COI RiskManager™ (a powerful web-based solution) conflict of interest software, efficiently captures, tracks and reports the required disclosures for thousands of researchers, post-docs, fellows, board and faculty members, for any industry. The system also protects organizations by ensuring compliance with the new regulations set forth by the Public Health service (PHS) funds from the National Institutes of Health (NIH) 

 
 
Why COI RiskManager?

• Flexible and easy to use solution
• Meets your requirements
• 30 day implementation
• No long term contracts
• 100% client retention
• Outstanding customer service

Click Here for a Demo

COI RiskManager, conflict of interest software, easily integrates with Shibboleth SSO

Many organizations, including universities, require their conflict of interest solution to integrate with Shibboleth.

COI RiskManager is proven in delivering requirements for large state universities, healthcare systems, medicare administrators and government related organizations. One of the many requirements that we have extensive experience in is integrating with Shibboleth.

Shibboleth is among the world's most widely deployed federated identity solutions, connecting users to applications both within and between organizations. Every software component of the Shibboleth system is free and open source.


Shibboleth is an open-source project that provides Single Sign-On capabilities and allows sites to make informed authorization decisions for individual access of protected online resources in a privacy-preserving manner.

Why COI RiskManager?

• Flexible and easy to use solution
• Meets your requirements
• 30 day implementation
• No long term contracts
• 100% client retention
• Outstanding customer service

Click Here for a Demo

Conflict of Interest Software, Why choose COI RiskManager?

COI RiskManager™ (a powerful conflict of interest web-based solution) efficiently captures, tracks and reports the required disclosures for thousands of researchers, post-docs, fellows, board and faculty members, for any industry. 

 

What are the Benefits?

• Easy to use and deploy
• Reduces risk and costs
• Proven in world-class organizations
• Improves organizational effectiveness

How does it work?

• Automatically identifies potential conflicts
• Improves participant compliance levels
• Automates the disclosure and review process
• Keeps an audit trail of all information in one location

Why COI RiskManager?

• 30 day implementation
• No long term contracts
• 100% client retention
• Outstanding customer service

Click Here for a Demo

Osprey's COI RiskManager will be on display at the Society of Corporate Compliance and Ethics.

Conflict of Interest Compliance: Paper or Web-based Solution?

The business processes and administrative procedures at healthcare organizations are tightly controlled and regulated. Yet the information technology systems that run these organizations are used by a wide variety of professionals whose attention is more focused on good medicine and research.

Conflict of interest (COI) compliance is a complex discipline with many moving parts. In large healthcare organizations, with many projects and research professionals, the process can be daunting. Manual compliance processes are time and resource intensive and most off-the-shelf systems are woefully inadequate for managing COI compliance in medical research, leaving organizations with substantial risk and liability exposure.

To address this problem, institutions are moving over to web-based compliance management systems to take the place of existing paper-based manual methods. They are designed to reduce risk, reduce cost, save time and increase productivity. Osprey Software Solutions has introduced Osprey COI RiskManager™, an enterprise-class compliance management system designed with the guidance and support of Partners™ Healthcare.

“After more than three years of use and rigorous testing at Partners HealthCare, we are confident that Osprey COI RiskManager is a reliable, efficient, and user friendly solution to report and proactively identify potential conflict of interest issues at medical organizations,” said Scott McNeal, Director, Research Enterprise Applications at Partners HealthCare.

As research projects continue to grow and COI compliance becomes more complex, more and more institutions will be trading up the paper process in favor of web-based solutions to streamline the management process.

About Osprey Software Solutions
Osprey Software Solutions, Inc. is a premier team of experts in the design and development of complex business applications. Osprey has assembled one of the most highly regarded teams of architects, engineers, and consultants in the software development business. The Osprey team has an outstanding track record in the design and delivery of large scale, advanced business systems in a variety of industries, including: Financial Services, Lending, Energy, Healthcare, and Defense.

For more information about Osprey’s COI RiskManager please email Michael Vidoni or contact him by phone 888.677.7394, ext.1004.