Greater Jamaica Local Development Corp Inc.

“This is an organization with members.”

“The organization has members who may elect one or more members of the governing body.”

“The return is reviewed and approved by the audit committee and then distributed to all board members prior to filing.”

“On an annual basis, the policy and disclosure form is distributed to board members, officers, and key employees. Staff follows up to ensure the receipt of the forms.”

“The organizati0n uses the following to establish the compensation of the organization's ceo, executive director, top management official, other officers or key employees: 1) compensation committee, 2) form 990 of other organizations, 3) compensation survey or study and 4) approval by the executive committee or compensation committee.”

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

“Average hours per week: the average hours per week reported for the officers listed below of 35 hours represents the total hours worked per week for such individuals for gjdc and all related organizations. The allocation of time for such officers between gjdc and its related organizations is as follows: hope knight-gjdc (100%) todd s benenson-gjdc (95%) and gjldc (5%) myrna fraser-gjdc (100%)”

“All salaries for officers, directors, and key employees as report in column e of part vii and column b (i) of schedule j part ii are paid only by greater jamaica development corporation. Salaries reported in column e of part vii are for informational purposes only as required by the internal revenue service.”

“Greater jamaica local development company, inc. ("gjldc") working in conjunction with its parent company, the greater jamaica development corporation ("gjdc"), provides financial and related technical assistance to qualifying small businesses and/or entrepreneurs in gjldc's target market. The objective of the financing is to promote entrepreneurship, create new jobs, retain existing jobs, and promote community revitalization and/or stabilization. Gjldc's target market area is the county of queens, new york, and more specifically, gjldc's loan fund is available for any business (existing, new, or start-up) in or planning to locate within the 114xx and 116xx zip codes within queens county. As an alternative lender, our fund is tailored to applicants who have been unable to obtain financing from traditional sources at the level required by the venture. The target applicant is independently owned and operated, and generally has qualified as a small business pursuant to the sba size standards based upon dollar volume and the number of its employees. Applicants must have sales of less than $10 million. Financing is available from $1,000 to $300,000. Special consideration for the loan fund product is given to meeting the needs of women and minority-owned businesses.”

“The process of overseeing the audit and selection of independent accountant has not been changed from prior year.”

“Number of employees: all employees of greater jamaica local development company, inc. Are paid through greater jamaica development corporation and the payroll is allocated and charged back to greater jamaica local development company, inc. Therefore, part i, line 5 and part v, line 2a indicate that no employees were reported on form w-3, transmittal of tax and wage statements. Since such employees are reported on the w-3 of greater jamaica development corporation.”

“Explanation of disregarded entities: the disregarded entities reported in part i of schedule r are disregarded entities of: greater jamaica development corporation, a related tax-exempt organization. Therefore, no amounts have been reported in schedule r, part i, columns (d) and (e) for total income or end of year assets since such amounts are reported on greater jamaica development corporation's form 990.”