Greater Jamaica Local Development Corp Inc.

“The return is prepared by an independent accountant and 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 compensation of the ceo is determined by the related organization, greater jamaica development center, with ein # 23-7021273. The salaries are being paid by that organization.”

“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%) caroline forbes-gjdc (100%) blondel pinnock-gjdc (100%)”

“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 the114xx 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.”

“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.”

“Within our target market, gjldc provides loans to qualified commercial prospects that have been unable to obtain financing from traditional lenders. We often participate with other lending institutions in financing projects that are beyond gjldc's financial limitation. We measure our success by the dollar amount of loans disbursed, the dollar amount of private investment leveraged, the number of jobs created or retained and other performance objectives. Recognizing the need for urgent action in response to the covid crisis, gjldc and its affiliate gjdc, significantly increased emphasis on providing our free suite of technical assistance to small businesses in our service geography, with a special focus on mwbe's. Specifically in 2018 and 2019, we provided service assistance (through canvassing, community engagement events and one-on-one assistance to about 500 entities per year). By contrast, in the 14 months of covid, we provided direct assistance to 1745 businesses and impacted 1146 jobs. Our services resulted in business funding and/or grants secured of $7,729.139. Throughout the pandemic, we partnered with federal, state, and local governmental units to provide focused assistance and guidance on access to newly available business resources. The above revenue includes only related or exempt function revenue reported in part viii, line 12b.”

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