Pan-Massachusetts Challenge Inc.

“VOTING MEMBERS AND INDEPENDENT VOTING MEMBERS From 01/01/2021 TO 04/01/2021, there were 13 voting Board members. FROM 04/01/2021 TO 12/31/2021, there were 12 voting members. William Starr is the only non-independent Board member.”

“SIGNIFICANT CHANGES TO GOVERNING DOCUMENTS The Pan-Massachusetts Challenge, Inc. bylaws were amended by Action by Consent, effective December 30, 2021, to change the title of "President" of the organization to "Executive Director,to create a new office of "President," with enumerated duties. The amended bylaws provide that the Board can designate individuals, including the President, to sign or accept documents on behalf of the organization.”

“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.”

“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 2021.”

“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 2021.”

“Process for making documents available to the public governing documents, the conflict of interest policy and financial statements are available upon request.”

“As of december 31, 2021, pmc recorded a rent liability as a component of other liabilities in the amount of $302,492. Other liabilities in the amount of $302,492.”

“Other changes in net assets or fund balances adjustment for use of in-kind contributions ($2,449,251).”