Pan-Massachusetts Challenge Inc.

“Process used to review the form 990 paid preparers prepared the return. Management consisting of the president, the chairman of the board and the treasurer reviewed a draft of the return and the board viewed the final return before submission for filing. Form 990, part vi, line 12c monitoring & enforcement of conflict of interest policy our conflict of interest policy, which has been approved by the board, is provided each year to all board members and officers. The board members and officers are required to complete and sign an annual policy disclosure statement indicating that they have read and agree to comply with the policy, and identifying all interests (e.g., employment or other compensation or financial relationships) that could give rise to a conflict of interest under the policy. These disclosures are reviewed by counsel. The conflict of interest policy defines types of financial interest that are to be disclosed, outlines procedures for determining whether a conflict exists and, if so, how to address the conflict, outlines the process to respond to suspected violations of the conflicts policy, and charges the governing board of the organization or a committee thereof to take appropriate disciplinary and/or corrective action in the event of a violation of the policy. The policy also requires that minutes of governing board and committee meetings relating to conflicts of interest matters be maintained, and that they include the names of those who disclosed or were found to have a financial interest, the nature of the interest, any action taken to determine whether a conflict was present, the decision regarding whether a conflict was present, and, where a conflict was found to be present, the names of the persons present for discussion and votes relating to the matter, the content of the discussion (including alternatives to the proposed transaction or arrangement), and a record of any votes taken.”

“Process for determining compensation THE EXECUTIVE DIRECTOR'S ANNUAL COMPENSATION IS ANALYZED, REVIEWED, AND RECOMMENDED BY THE COMPENSATION COMMITTEE AND APPROVED BY A VOTE OF THE FULL PAN MASSACHUSETTS CHALLENGE BOARD OF DIRECTORS (OTHER THAN THE EXECUTIVE DIRECTOR). THE COMPENSATION COMMITTEE AND BOARD UTILIZE AN INDEPENDENT COMPENSATION CONSULTANT'S REPORT TO BENCHMARK AND EVALUATE THE EXECUTIVE DIRECTOR'S COMPENSATION WITH COMPARABLE ORGANIZATIONS. This process was completed during the review of the executive director's most recent employment contract in 2014. Compensation of all employees is included in the annual budget, which is reviewed and approved by the board of directors. External benchmarks were used to review all employees' compensation as of 2016. Form 990, Part VI, Line 15B Process for determining compensation THE CHIEF FINANCIAL OFFICER'S COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD. Compensation of all employees is included in the annual budget, which is reviewed and approved by the board of directors. External benchmarks were used to review all employees' compensation as of 2016.”

“Process for making documents available to the public Governing documents, the conflict of interest policy and financial statements are available upon request. Form 990, Part X lines 15 & 25 DURING 2017, PMC RECORDED A RENT LIABILITY AS A COMPONENT OF OTHER LIABILITIES IN THE AMOUNT OF $342,720. IT ALSO HELD A SECURITY DEPOSIT OF $120,000 WHICH IS RECORDED IN SHORT TERM LIABILITIES BECAUSE IT IS ANTICipATED THAT IT WILL BE REPLACED WITH A LETTER OF CREDIT WITHIN A YEAR. THE PMC ALSO RECORDED A LEASE INCENTIVE RECEIVABLE AND STRAIGHT LINE RENT RECEIVABLE WITH RESPECT TO A SUBLEASE AGREEMENT AS A COMPONENT OF OTHER ASSETS IN THE AMOUNT OF $177,806.”

“OTHER CHANGES IN NET ASSETS OR FUND BALANCES adjustment for use of in-kind contributions ($3,800,786).”