Jfflabs Inc

“The sole member of the organization is jobs for the future, inc.”

“As sole member, jobs for the future has the right to elect and remove directors of the organization.”

“The following powers are reserved to the sole member of the organization: 1. Authority to dissolve the organization; and 2. Sole authority to amend or repeal the following sections of the bylaws of the organization: article 3, relating to the sole member, article 4, relating to the board of directors, and article 13, relating to the amendment of the bylaws. All other provisions of the bylaws may be amended or repealed by either a majority vote of the entire board of directors or by the sole member.”

“A draft copy of the federal form 990 was provided in electronic format to all members of the board of directors of the organization. A period of time was given for the members to review the draft of the federal form 990 and provide comments and questions to the cfo and controller of the organization. When deemed appropriate, changes were made based on these comments to the draft version of the federal form 990 prior to its filing with the irs.”

“On an annual basis, members of the board of directors are required to review the organization's conflict of interest policy and disclose to the organization any potential conflicts of interest.”

“The organization does not have any employees. All employees providing services to the organization are employed by a related organization. Jff employs an external compensation consultant and uses data from a comparable compensation survey to determine the compensation of certain employees. The consultant makes recommendations based on the survey data. The executive committee of jff's board reviews the recommendation and decides the president's compensation using data from the survey. The president reviews the coo's compensation and the president and coo jointly review the compensation of rest of the organization's management team.”

“The organization's financial statements are available upon request of the organization as well as at the office of the attorney general for the state of massachusetts. Governing documents are available at the office of the secretary for the state of massachusetts.”

“Consultant fees: program service expenses 27,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,500. Fund management services: program service expenses 1,000,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,000,000.”

“Change in value of imputed interest liability on non-interest bearing notes -213,000.”