Yafang Deng is an Associate in the Health Care Department, resident in the New York office. Her practice includes health care transactional, regulatory, and litigation matters.Yafang has assisted clients with contractual disputes, regulatory reviews for acquisitions, and government investigations. She has also advised not-for-profit health care organizations on endowment fund policy issues.Prior to joining Proskauer, Yafang worked in the Health Law Unit of The Legal Aid Society. She provided legal advice and representation to low-income individuals needing assistance accessing health care services or health insurance coverage.
An IRS official confirmed, while speaking at an American Health Lawyers Association conference on October 16th, that the IRS has identified 3,377 tax-exempt hospitals that are being reviewed for compliance with the tax exemption community benefit standard. The reviews will be conducted by the IRS review of operations unit in three annual waves and will… Continue Reading
February 16, 2012 – Attorney General Eric Schneiderman has announced a new reform plan to reduce the regulatory burden on New York not-for-profit organizations while strengthening their governance and accountability.
The Attorney General’s comprehensive plan distinguishes itself from recent proposals to cap not-for-profit executive compensation, emphasizing that improper compensation is not representative of the New York not-for-profit sector as a whole. Instead, the Attorney General seeks a practical approach to assisting not-for-profits in reducing financial strains while maintaining governance best practices.
The plan takes a three prong approach to reform: (1) The Nonprofit Revitalization Act, (2) the “New York on BOARD” initiative, and (3) the “Directors U” initiative.
On March 17, 2011, the New York State Attorney General’s Charities Bureau published “A Practical Guide to the New York Prudent Management of Institutional Funds Act” (the “Guide”). The Guide provides a summary of the New York Prudent Management of Institutional Funds Act (“NYPMIFA”) as well as practical guidance on its application. Although the Guide… Continue Reading