Just Associates Inc.

“The form 990 is prepared by the outside accountants. The board of directors has designated a board member to review the form 990 with the tax preparer before it is filed.”

“Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1. The conflicting interest is fully disclosed; 2. The person with the conflict of interest is excluded from the discussion and approval of such transaction; 3. A competitive bid or comparable valuation exists; and 4. The board or a duly constituted committee thereof has determined that the transaction is in the best interest of the organization. Disclosure in the organization should be made to the chief executive officer (or if she or he is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board or a duly constituted committee thereof. Disclosure involving directors should be made to the board chair, (or if she or he is the one with the conflict, then to the other board co-chair) who shall bring these matters to the board or a duly constituted committee thereof. The board or a duly constituted committee thereof shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to jass. The decision of the board or a duly constituted committee thereof on these matters will rest in their sole discretion, and their concern must be the welfare of jass and the advancement of its purpose.”

“The board of directors approves the executive director's compensation when preparing the annual budget for jass. This process includes a comparison of executive director compensation from organizations that are similar in size and mission to jass. The last compensation review took place in february 2020.”

“The organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon written request.”

“On april 13, 2020, just associates received loan proceeds in the amount of $163,948 under the paycheck protection program, a government initiative. The promissory note called for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note could be forgiven by the small business administration (sba) in whole or in part. During the year ended december 31, 2020, just associates used the loan proceeds for purposes consistent with the paycheck protection program and applied for forgiveness subsequent to the 24-week period stipulated by the terms. On november 25, 2020, jass received notice of full forgiveness of the loan by the sba and recorded revenue which has been included as part of government grant revenue on part viii, line 1e.”

“Consultants/prof services: program service expenses 574,261. Management and general expenses 13,699. Fundraising expenses 45,647. Total expenses 633,607.”

“Exchange rate gain/loss -8,452.”