Federation Employment and Guidance Service Inc

“Historically, the compensation of federation employment and guidance service, inc.'s ("fegs," the "debtor, the "taxpayer") chief executive officer, chief financial officer, executive management, and all key employees was reviewed by the executive compensation committee of fegs' board and then reviewed by the executive committee who was responsible for final approval of the compensation. The executive committee's decision of the final approved compensation was reported to the full board of directors. In determining the reasonableness of compensation for these employees, the executive compensation committee and the executive committee relied on the independent review of compensation of comparable organizations by an independent and recognized compensation firm in addition to other relevant organizational materials and compensation data. This process was last undertaken in 2014 when fegs engaged an independent compensation firm to perform a compensation study and prior to the petition date. On march 18, 2015 (the "petition date"), fegs filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"), chapter 11 case no. 15-71074 (reg). Shortly prior to and after the filing of its voluntary petition for chapter 11 relief, fegs' chief executive officer, chief financial officer, its executive management and many of its key employees resigned or were terminated. Pursuant to the terms of an employment agreement dated july 15, 2015 (the "agreement") one of fegs' former key employees was promoted to the newly created position of chief wind-down officer. The agreement, including the chief wind-down officer's salary and bonus, was negotiated between that individual and the official committee of unsecured creditors, was approved by fegs' board, and was reported to the bankruptcy court. Pursuant to an order entered february 6, 2018 (the "confirmation order"), the court approved the debtor's third amended plan of liquidation (the "plan"). Pursuant to the confirmation order, judith pincus was appointed as the plan administrator. The plan administrator's salary and bonus was negotiated between that individual and the official committee of unsecured creditors and approved by the court.”

“As its remaining employees assume greater responsibilities and increased workloads the debtor has increased employees' base salary compensation.”

“On march 18, 2015 (the "petition date"), federation employment and guidance service, inc. ("fegs", the "debtor", or the "taxpayer") filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"). During the pendency of its chapter 11 case, fegs operated its business and managed its affairs as a debtor-in-possession. Prior to the petition date, fegs announced that it planned to transfer its charitable purpose programs to other not-for-profit service providers. By may 31, 2015, fegs had successfully transferred its charitable purpose programs to other exempt not-for-profit organizations. Pursuant to court order, fegs subsequently leased its real estate to the acquiring service providers until a sale of its real estate could be completed and approved by the court. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan") with the court. The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients. The plan also provides for the private sale of fegs' membership and sponsorship interests (the "housing corporation interests") in four housing corporations whose properties house physically and developmentally disabled clients. These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to the findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan. The plan became effective march 1, 2018, the "effective date" [docket no. 1056]. Pursuant to the confirmation order, judith pincus was appointed plan administrator. The plan provides in pertinent part, that the plan administrator is to act for fegs in a fiduciary capacity as applicable to a board of directors, subject to the provisions of the plan. See plan §5.11(b). The plan provides in pertinent part that on the effective date, the members of fegs' board of directors were deemed to have resigned their positions as directors and relieved of all further responsibilities, with the operation of fegs becoming the responsibility of the plan administrator. See plan §5.10. Following the effective date and as provided for under the plan, the court retains exclusive jurisdiction of the debtor's case for the purposes set forth in §12.1 of the plan and non-exclusive jurisdiction of the debtor's case for the purposes as set forth in §12.2 of the plan. See confirmation order, paragraph 34. Fegs' chapter 11 case number is 15-71074 (reg). Fegs' disclosure statement, plan, confirmation order, creditor trust agreement, and the other pleadings filed in fegs' chapter 11 case are available for review at https://ecf.nyeb.uscourts.gov.”

“ON MARCH 18, 2015 (THE "PETITION DATE"), FEDERATION EMPLOYMENT AND GUIDANCE SERVICE, INC. ("FEGS", THE "DEBTOR", OR THE "TAXPAYER") FILED A VOLUNTARY PETITION FOR RELIEF UNDER CHAPTER 11 OF THE BANKRUPTCY CODE IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF NEW YORK (THE "COURT"). DURING THE PENDENCY OF ITS CHAPTER 11 CASE, FEGS OPERATED ITS BUSINESS AND MANAGED ITS AFFAIRS AS A DEBTOR-IN-POSSESSION. PRIOR TO THE PETITION DATE, FEGS ANNOUNCED THAT IT PLANNED TO TRANSFER ITS CHARITABLE PURPOSE PROGRAMS TO OTHER NOT-FOR-PROFIT SERVICE PROVIDERS. BY MAY 31, 2015, FEGS HAD SUCCESSFULLY TRANSFERRED ITS CHARITABLE PURPOSE PROGRAMS TO OTHER EXEMPT NOT-FOR-PROFIT ORGANIZATIONS. PURSUANT TO COURT ORDER, FEGS SUBSEQUENTLY LEASED ITS REAL ESTATE TO THE ACQUIRING SERVICE PROVIDERS UNTIL A SALE OF ITS REAL ESTATE COULD BE COMPLETED AND APPROVED BY THE COURT. ON OCTOBER 6, 2017, FEGS FILED WITH THE COURT ITS DISCLOSURE STATEMENT AND PLAN OF LIQUIDATION (COLLECTIVELY, THE "PLAN") WITH THE COURT. THE PLAN PROVIDES A MEANS BY WHICH THE REMAINING ASSETS OF THE DEBTOR'S REAL ESTATE PORTFOLIO AND OTHER REMAINING ASSETS WILL BE LIQUIDATED. THE PLAN FURTHER PROVIDES THAT THE PROCEEDS OF SUCH LIQUIDATION, TOGETHER WITH THE PROCEEDS OF THE PRIOR SALES OF THE DEBTOR'S ASSETS, WILL BE DISTRIBUTED UNDER CHAPTER 11 OF THE BANKRUPTCY CODE, AND SETS FORTH THE TREATMENT OF ALL CLAIMS AGAINST THE DEBTOR. THE PLAN PROPOSES THE PRIVATE SALE OF SUBSTANTIALLY ALL OF THE REMAINING REAL ESTATE ASSETS - COMPRISED LARGELY OF GROUP HOMES, COOPERATIVE APARTMENTS AND COMMUNITY RESIDENCE FACILITIES HOUSING MANY OF ITS FORMER CLIENTS, TO THE NOT-FOR-PROFIT EXEMPT ORGANIZATIONS WHO TOOK OVER FEGS' PROGRAMS AND CONTINUE TO PROVIDE SERVICES TO FEGS' FORMER RESIDENTIAL CLIENTS. THE PLAN ALSO PROVIDES FOR THE PRIVATE SALE OF FEGS' MEMBERSHIP AND SPONSORSHIP INTERESTS (THE "HOUSING CORPORATION INTERESTS") IN FOUR HOUSING CORPORATIONS WHOSE PROPERTIES HOUSE PHYSICALLY AND DEVELOPMENTALLY DISABLED CLIENTS. THESE PRIVATE SALES WILL SERVE TO CONTINUE THE CHARITABLE MISSION OF FEGS AND TO ENSURE THE CONTINUED RESIDENCE AND CARE OF ITS FORMER CLIENTS. ON FEBRUARY 6, 2018, PURSUANT TO THE FINDINGS OF FACT, CONCLUSIONS OF LAW AND ORDER CONFIRMING THIRD AMENDED PLAN OF LIQUIDATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE OF FEDERATION EMPLOYMENT AND GUIDANCE SERVICE, INC. D/B/A FEGS [DOCKET NO. 1050] (THE "CONFIRMATION ORDER"), THE COURT CONFIRMED FEGS' PLAN. THE PLAN BECAME EFFECTIVE MARCH 1, 2018, the "effective date" [DOCKET NO. 1056]. PURSUANT TO THE CONFIRMATION ORDER, JUDITH PINCUS WAS APPOINTED PLAN ADMINISTRATOR. THE PLAN PROVIDES IN PERTINENT PART, THAT THE PLAN ADMINISTRATOR IS TO ACT FOR FEGS IN A FIDUCIARY CAPACITY AS APPLICABLE TO A BOARD OF DIRECTORS, SUBJECT TO THE PROVISIONS OF THE PLAN. SEE PLAN §5.11(B). UNDER THE PLAN, ON THE EFFECTIVE DATE THE MEMBERS OF FEGS' BOARD OF DIRECTORS WERE DEEMED TO HAVE RESIGNED THEIR POSITIONS AS DIRECTORS AND RELIEVED OF ALL FURTHER RESPONSIBILITIES, WITH THE OPERATIONS OF FEGS BECOMING THE RESPONSIBILITY OF THE PLAN ADMINISTRATOR. SEE PLAN §5.10. THROUGH THE EFFECTIVE DATE (MARCH 1, 2018), THE BOARD OF DIRECTORS MEETINGS AND ALL ACTIONS TAKEN BY THE BOARD AND COMMITTEES WERE CONTEMPORANEOUSLY DOCUMENTED. Following the effective date and as provided for under the plan, the court retains exclusive jurisdiction of the debtor's case for the purposes as set forth in §12.1 of the plan and non-exclusive jurisdiction of the debtor's case for the purposes as set forth in §12.2 of the plan. See confirmation order paragraph 34. accordingly, FEGS has complied with the requirements that it contemporaneously document the actions undertaken during the current year. FEGS' CHAPTER 11 CASE NUMBER IS 15-71074 (REG). FEGS' DISCLOSURE STATEMENT, PLAN, CONFIRMATION ORDER, CREDITOR TRUST AGREEMENT, AND THE OTHER PLEADINGS FILED IN FEGS' CHAPTER 11 CASE ARE AVAILABLE FOR REVIEW AT HTTPS://ECF.NYEB.USCOURTS.GOV.”

“ON MARCH 18, 2015 (THE "PETITION DATE"), FEDERATION EMPLOYMENT AND GUIDANCE SERVICE, INC. ("FEGS", THE "DEBTOR", OR THE "TAXPAYER") FILED A VOLUNTARY PETITION FOR RELIEF UNDER CHAPTER 11 OF THE BANKRUPTCY CODE IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF NEW YORK (THE "COURT"). DURING THE PENDENCY OF ITS CHAPTER 11 CASE, FEGS OPERATED ITS BUSINESS AND MANAGED ITS AFFAIRS AS A DEBTOR-IN-POSSESSION. PRIOR TO THE PETITION DATE, FEGS ANNOUNCED THAT IT PLANNED TO TRANSFER ITS CHARITABLE PURPOSE PROGRAMS TO OTHER NOT-FOR-PROFIT SERVICE PROVIDERS. BY MAY 31, 2015, FEGS HAD SUCCESSFULLY TRANSFERRED ITS CHARITABLE PURPOSE PROGRAMS TO OTHER EXEMPT NOT-FOR-PROFIT ORGANIZATIONS. PURSUANT TO COURT ORDER, FEGS SUBSEQUENTLY LEASED ITS REAL ESTATE TO THE ACQUIRING SERVICE PROVIDERS UNTIL A SALE OF ITS REAL ESTATE COULD BE COMPLETED AND APPROVED BY THE COURT. ON OCTOBER 6, 2017, FEGS FILED WITH THE COURT ITS DISCLOSURE STATEMENT AND PLAN OF LIQUIDATION (COLLECTIVELY, THE "PLAN") WITH THE COURT. THE PLAN PROVIDES A MEANS BY WHICH THE REMAINING ASSETS OF THE DEBTOR'S REAL ESTATE PORTFOLIO AND OTHER REMAINING ASSETS WILL BE LIQUIDATED. THE PLAN FURTHER PROVIDES THAT THE PROCEEDS OF SUCH LIQUIDATION, TOGETHER WITH THE PROCEEDS OF THE PRIOR SALES OF THE DEBTOR'S ASSETS, WILL BE DISTRIBUTED UNDER CHAPTER 11 OF THE BANKRUPTCY CODE, AND SETS FORTH THE TREATMENT OF ALL CLAIMS AGAINST THE DEBTOR. THE PLAN PROPOSES THE PRIVATE SALE OF SUBSTANTIALLY ALL OF THE REMAINING REAL ESTATE ASSETS - COMPRISED LARGELY OF GROUP HOMES, COOPERATIVE APARTMENTS AND COMMUNITY RESIDENCE FACILITIES HOUSING MANY OF ITS FORMER CLIENTS, TO THE NOT-FOR-PROFIT EXEMPT ORGANIZATIONS WHO TOOK OVER FEGS' PROGRAMS AND CONTINUE TO PROVIDE SERVICES TO FEGS' FORMER RESIDENTIAL CLIENTS. THE PLAN ALSO PROVIDES FOR THE PRIVATE SALE OF FEGS' MEMBERSHIP AND SPONSORSHIP INTERESTS (THE "HOUSING CORPORATION INTERESTS") IN FOUR HOUSING CORPORATIONS WHOSE PROPERTIES HOUSE PHYSICALLY AND DEVELOPMENTALLY DISABLED CLIENTS. THESE PRIVATE SALES WILL SERVE TO CONTINUE THE CHARITABLE MISSION OF FEGS AND TO ENSURE THE CONTINUED RESIDENCE AND CARE OF ITS FORMER CLIENTS. ON FEBRUARY 6, 2018, PURSUANT TO THE FINDINGS OF FACT, CONCLUSIONS OF LAW AND ORDER CONFIRMING THIRD AMENDED PLAN OF LIQUIDATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE OF FEDERATION EMPLOYMENT AND GUIDANCE SERVICE, INC. D/B/A FEGS [DOCKET NO. 1050] (THE "CONFIRMATION ORDER"), THE COURT CONFIRMED FEGS' PLAN. THE PLAN BECAME EFFECTIVE MARCH 1, 2018, the "effective date" [DOCKET NO. 1056]. PURSUANT TO THE CONFIRMATION ORDER, JUDITH PINCUS WAS APPOINTED PLAN ADMINISTRATOR. THE PLAN PROVIDES IN PERTINENT PART, THAT THE PLAN ADMINISTRATOR IS TO ACT FOR FEGS IN A FIDUCIARY CAPACITY AS APPLICABLE TO A BOARD OF DIRECTORS, SUBJECT TO THE PROVISIONS OF THE PLAN. SEE PLAN §5.11(B). UNDER THE PLAN, ON THE EFFECTIVE DATE THE MEMBERS OF FEGS' BOARD OF DIRECTORS WERE DEEMED TO HAVE RESIGNED THEIR POSITIONS AS DIRECTORS AND RELIEVED OF ALL FURTHER RESPONSIBILITIES, WITH THE OPERATIONS OF FEGS BECOMING THE RESPONSIBILITY OF THE PLAN ADMINISTRATOR. SEE PLAN §5.10. THROUGH THE EFFECTIVE DATE (MARCH 1, 2018), THE BOARD OF DIRECTORS MEETINGS AND ALL ACTIONS TAKEN BY THE BOARD AND COMMITTEES WERE CONTEMPORANEOUSLY DOCUMENTED. Following the effective date and as provided for under the plan, the court retains exclusive jurisdiction of the debtor's case for the purposes as set forth in §12.1 of the plan and non-exclusive jurisdiction of the debtor's case for the purposes as set forth in §12.2 of the plan. See confirmation order paragraph 34. accordingly, FEGS has complied with the requirements that it contemporaneously document the actions undertaken during the current year. FEGS' CHAPTER 11 CASE NUMBER IS 15-71074 (REG). FEGS' DISCLOSURE STATEMENT, PLAN, CONFIRMATION ORDER, CREDITOR TRUST AGREEMENT, AND THE OTHER PLEADINGS FILED IN FEGS' CHAPTER 11 CASE ARE AVAILABLE FOR REVIEW AT HTTPS://ECF.NYEB.USCOURTS.GOV.”

“On march 18, 2015 (the "petition date"), federation employment and guidance service, inc. ("fegs", the "debtor", or the "taxpayer") filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"). During the pendency of its chapter 11 case, fegs operated its business and managed its affairs as a debtor-in-possession. Prior to the petition date, fegs announced that it planned to transfer its charitable purpose programs to other not-for-profit service providers. By may 31, 2015, fegs had successfully transferred its charitable purpose programs to other exempt not-for-profit organizations. Pursuant to court order, fegs subsequently leased its real estate to the acquiring service providers until a sale of its real estate could be completed and approved by the court. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan"). The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients. The plan also provides for the private sale of fegs' membership and sponsorship interests in four housing corporations (the "housing corporation interests") whose properties house physically and developmentally disabled clients. These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to the findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan. Under the plan, on the effective date, the members of fegs' board of directors were deemed to have resigned their positions as directors and relieved of all further responsibilities, with the operation of fegs becoming the responsibility of the plan administrator. See plan §5.10. The plan became effective march 1, 2018 [docket no. 1056]. Fegs' chapter 11 case number is 15-71074 (reg). Fegs' disclosure statement, plan, confirmation order, creditor trust agreement, and the other pleadings filed in fegs' chapter 11 case are available for review at https://ecf.nyeb.uscourts.gov. Fegs has provided a complete copy of this form 990 to the plan administrator.”

“On march 18, 2015 (the "petition date"), federation employment and guidance service, inc. ("fegs the "debtor the "taxpayer") filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"), chapter 11 case no. 15-71074 (reg). Subsequently, pursuant to an order of the court entered february 6, 2018 (the "confirmation order"), the court confirmed the debtor's third amended plan of liquidation (the "plan"). The confirmation order provides in pertinent part that "on the effective date, the members of the debtor's board of trustees shall be deemed to have resigned therefrom, and shall be relieved of all further responsibilities, with the operation of the debtor becoming the responsibility of the plan administrator in accordance with the plan." see confirmation order, para. 12, p. 13 [docket no. 1050]. Pursuant to the confirmation order, judith pincus was appointed as the plan administrator. See confirmation order para. 4, p. 10 [docket no. 1050]. The "effective date" occurred on march 1, 2018 [docket no. 1056]. Prior to the plan's effective date, all officers, directors, and key employees were required to review the organization's conflict of interest policy on an annual basis and complete and sign a disclosure questionnaire representing that they have reviewed the policy and have reported any potential conflicts that may exist. Any disclosed conflict was reviewed by the legal committee and executive committee of the board and, following their review of the matter, they either made determinations on the matter, or referred appropriate matters to the full board of directors. During the period after the effective date, the plan administrator reviewed fegs' conflict of interest policy and signed a disclosure questionnaire stating that she had reviewed the policy and did not have any potential conflicts of interest. The taxpayer's chapter 11 case number is 15-71074 (reg). Fegs' disclosure statement, plan, confirmation order and the other pleadings filed in fegs' chapter 11 case are available for review at https://ecf.nyeb.uscourts.gov.”

“Governing documents, conflict of interest policy, and financial statements are available upon request. Since march 18, 2015 (the "petition date") and through february 28, 2018, the taxpayer has filed with the united states bankruptcy court eastern district of new york its monthly operating report ("mor") which is also available for review. Pursuant to an order entered february 6, 2018 (the "confirmation order"), the court approved the debtor's third amended plan of liquidation (the "plan") [docket no. 1050]. The plan became effective march 1, 2018 [docket no. 1056]. Since march 1, 2018, the taxpayer has filed its operating reports with the court on a quarterly basis ("qor") and which are also available for review. The taxpayer's chapter 11 case number is 15-71074 (reg). The plan, confirmation order and the other pleadings filed in fegs' chapter 11 case including the monthly and quarterly operating reports filed by fegs can be reviewed at https://ecf.nyeb.uscourts.gov/.”

“Health and social services to more than 120,000 individuals annually in the areas of behavioral, health, intellectual and developmental disabilities, housing, home care, employment / workforce, education, youth and family services. Fegs also administered complex residential and support programs for the intellectually and developmentally disabled and a comprehensive portfolio of behavior treatment and residential programs for the mentally ill. At its peak, fegs operated a network of over 350 programs located throughout the metropolitan new york and long island areas. Fegs' mission is to help each person achieve greater personal and economic independence at work, home, school, and in the community. On march 18, 2015 (the "petition date"), fegs filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"). During the pendency of its chapter 11 case, fegs operated its business and managed its affairs as a debtor-in-possession. Prior to the petition date, fegs announced that it planned to transfer its charitable purpose programs to other not-for-profit service providers. By may 31, 2015, fegs had successfully transferred its charitable purpose programs to other exempt not-for-profit organizations. Pursuant to court order, fegs subsequently leased its real estate to the acquiring service providers until a sale of its real estate could be completed and approved by the court. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan"). The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients. The plan also provides for the private sale of fegs' membership and sponsorship interests in four housing corporations whose properties house physically and developmentally disabled clients (the "housing corporation interests"). These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to the findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan. The plan became effective march 1, 2018 [docket no. 1056]. Specifically, the court authorized the debtor and/or plan administrator, as applicable, to take any and all actions to (1) consummate the private sale of the debtor's program properties to the exempt organization service providers; and (2) consummate the private sale of the housing corporation interests. The confirmation order confirmed the appointment of judith pincus as the plan administrator and authorized ms. Pincus to implement the plan in a manner consistent with the terms and conditions as set forth in the plan and the confirmation order. Following the effective date and as provided for under the plan, the court retains exclusive jurisdiction of the debtor's case for the purposes set forth in §12.1 of the plan and non-exclusive jurisdiction of the debtor's case for the purposes as set forth in §12.2 of the plan. See confirmation order, paragraph 34. Pursua”

“Federation employment and guidance service, inc. ("fegs," the "debtor, the "taxpayer") as described in greater detail below, is the subject of a chapter 11 bankruptcy case that was confirmed pursuant to an order entered by the united states bankruptcy court for the eastern district of new york. During parts of the calendar year ending december 31, 2023, fegs employed 4 individuals who each received a 2023 form w-2, wage and tax statements and whose wages were reported on the 2023 form w-3, transmittal of wage and tax statements. Because the employment of one of these individuals was terminated in march 2023, at december 31, 2023, fegs employed 3 individuals.”

“In the areas of behavioral health, intellectual and developmental disabilities, housing, home care, employment/workforce, education, youth and family services. Fegs also administered complex residential and support programs for the intellectually and developmentally disabled and a comprehensive portfolio of behavioral treatment and residential programs for the mentally ill. At its peak, fegs operated a network of over 350 programs located throughout the metropolitan new york and long island areas. On march 18, 2015 (the "petition date"), fegs filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"). During the pendency of its chapter 11 case, fegs operated its business and managed its affairs as a debtor-in-possession. Prior to the petition date, fegs announced that it planned to transfer its charitable purpose programs to other not-for-profit service providers. By may 31, 2015, fegs had successfully transferred its charitable purpose programs to other exempt not-for-profit organizations. Pursuant to court order, fegs subsequently leased its real estate to the acquiring service providers until a sale of its real estate could be completed and approved by the court. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan"). The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients. The plan also provides for the private sale of fegs' membership and sponsorship interests in four housing corporations whose properties house physically and developmentally disabled clients (the "housing corporation interests"). These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to the findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan. Pursuant to the confirmation order, the court authorized fegs to consummate the private sales of its remaining assets to the exempt organization service providers who took over the operation of the debtor's programs. The plan became effective march 1, 2018 [docket no. 1056]. Pursuant to the plan, a creditor trust was also created for the benefit of pursuing certain litigation claims for the benefit of unsecured creditors. The creditor trust was funded by fegs with cash and the assignment of litigation claims consisting of preference claims, claims held by fegs against two of its former officers and claims held by fegs against its former auditors. Pursuant to the plan, judith pincus was appointed plan administrator and robert n. Michaelson was appointed the trustee for the creditor trust. In addition to and separate from the creditor trust, the plan also required that the plan administrator establish a disputed claims reserve, the fegs disputed claims reserve dof, to provide a vehicle for the payment of disputed general unsecured claims if and when they became allowed claims. Under the plan, the fegs disputed claims rese”

“With respect to federation employment and guidance service, inc.'s ("fegs," the "debtor, the "taxpayer") asset balance sheet accounts, cash and investment asset account balances are reflected at fair market value, accounts receivable is reflected at estimated net realizable value and the other balance sheet asset account balances at historical cost. With respect to accounts receivable, the debtor has reviewed this asset account and has written-off receivables that the debtor believes will not be collected. With respect to land, buildings, leasehold improvements and equipment, the debtor completed the sale of its residential properties during a prior tax year (6/30/2019) and accordingly the beginning and end of year balance of this asset account is $0. Liability balance sheet account balances are reflected at amounts stated by the debtor at historical cost. In addition, the debtor has incurred and will continue to incur additional liabilities as a result of the filing of the bankruptcy petition and in the wind-down of its business. Along this line, certain liabilities reflected in the debtor's balance sheet will be subject to adjustment through the bankruptcy process. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan"). The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The disclosure statement provides a detailed description of the amounts expected to be realized by fegs from the sale of its remaining assets, including its real estate. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, (the "program properties"), to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients (the "providers"). The plan also provides for the private sale of fegs' membership and sponsorship interests in four housing corporations whose properties house physically and developmentally disabled clients (the "housing corporation interests"). These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to a findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan and authorized the plan's implementation. Specifically, the court authorized the debtor and/or the plan administrator, as applicable, to take any and all actions necessary to (1) consummate the private sale of the debtor's program properties to the providers and (2) consummate the private sale of the housing corporation interests. The confirmation order also confirmed the appointment of judith pincus as the plan administrator and authorized ms. Pincus to implement the plan in a manner consistent with the terms and conditions as set forth in the plan and confirmation order. The plan became effective march 1, 2018 [docket no. 1056]. Pursuant to the plan, a creditor trust was also created for the purpose of pursuing certain litigation claims for the benefit of unsecured creditors. The creditor trust was funded by fegs with cash and the assignment of litigation claims consisting of preference claims, claims held by fegs against two of its former officers and claims held by fegs against its former auditor. Pursuant to th”

“On march 18, 2015 (the "petition date"), federation employment and guidance service, inc. ("fegs," the "debtor, the "taxpayer") filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"). During the pendency of its chapter 11 case, fegs operated its business and managed its affairs as a debtor-in-possession. Prior to the petition date, fegs announced that it planned to transfer its charitable purpose programs to other not-for-profit service providers. By may 31, 2015, fegs had successfully transferred its charitable purpose programs to other exempt not-for-profit organizations. Pursuant to court order, fegs subsequently leased its real estate to the acquiring service providers until a sale of its real estate could be completed and approved by the court. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan"). The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients. The plan also provides for the private sale of fegs' membership and sponsorship interests in four housing corporations whose properties house physically and developmentally disabled clients (the "housing corporation interests"). These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to the findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan. Pursuant to the confirmation order, the court authorized fegs to consummate the private sales of its remaining assets to the exempt organization service providers who took over the operation of the debtor's programs. The plan became effective march 1, 2018 [docket no. 1056]. Pursuant to the plan, judith pincus was appointed plan administrator. The plan provides in pertinent part, that the plan administrator is to act for fegs in a fiduciary capacity as applicable to a board of directors, subject to the provisions of the plan. See plan §5.11(b). Under the plan, on the effective date, the members of fegs' board of directors were deemed to have resigned their positions as directors and relieved of all further responsibilities, with the operation of fegs becoming the responsibility of the plan administrator. See plan §5.10. Following the effective date, and as provided for under the plan, the court retains exclusive jurisdiction of the debtor's case for the purpose set forth in §12.1 of the plan and the non-exclusive jurisdiction of the debtor's case for the purpose set forth in §12.2 of the plan. See confirmation order, paragraph 34. Pursuant to the plan, a creditor trust was also created for the benefit of pursuing certain litigation claims for the benefit of unsecured creditors. The creditor trust was funded by fegs with cash and the assignment of litigation claims consisting of preference claims, claims held by fegs against two of its former officers and claims held by fegs against its former auditors. Pursuant to the plan, robert n”

“On march 18, 2015 (the "petition date"), federation employment and guidance service, inc. ("fegs," the "debtor, the "taxpayer") filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york (the "court"). During the pendency of its chapter 11 case, fegs operated its business and managed its affairs as a debtor-in-possession. Prior to the petition date, fegs announced that it planned to transfer its charitable purpose programs to other not-for-profit service providers. By may 31, 2015, fegs had successfully transferred its charitable purpose programs to other exempt not-for-profit organizations. Pursuant to court order, fegs subsequently leased its real estate to the acquiring service providers until a sale of its real estate could be completed and approved by the court. On october 6, 2017, fegs filed with the court its disclosure statement and plan of liquidation (collectively, the "plan"). The plan provides a means by which the remaining assets of the debtor's real estate portfolio and other remaining assets will be liquidated. The plan further provides that the proceeds of such liquidation, together with the proceeds of the prior sales of the debtor's assets, will be distributed under chapter 11 of the bankruptcy code, and sets forth the treatment of all claims against the debtor. The plan proposes the private sale of substantially all of the remaining real estate assets - comprised largely of group homes, cooperative apartments and community residence facilities housing many of its former clients, to the not-for-profit exempt organizations who took over fegs' programs and continue to provide services to fegs' former residential clients. The plan also provides for the private sale of fegs' membership and sponsorship interests in four housing corporations whose properties house physically and developmentally disabled clients (the "housing corporation interests"). These private sales will serve to continue the charitable mission of fegs and to ensure the continued residence and care of its former clients. On february 6, 2018, pursuant to the findings of fact, conclusions of law and order confirming third amended plan of liquidation under chapter 11 of the bankruptcy code of federation employment and guidance service, inc. D/b/a fegs [docket no. 1050] (the "confirmation order"), the court confirmed fegs' plan. Pursuant to the confirmation order, the court authorized fegs to consummate the private sales of its remaining assets to the exempt organization service providers who took over the operation of the debtor's programs. The plan became effective march 1, 2018 [docket no. 1056]. Pursuant to the plan, judith pincus was appointed plan administrator. The plan provides in pertinent part, that the plan administrator is to act for fegs in a fiduciary capacity as applicable to a board of directors, subject to the provisions of the plan. See plan §5.11(b). Under the plan, on the effective date, the members of fegs' board of directors were deemed to have resigned their positions as directors and relieved of all further responsibilities, with the operation of fegs becoming the responsibility of the plan administrator. See plan §5.10. Following the effective date, and as provided for under the plan, the court retains exclusive jurisdiction of the debtor's case for the purpose set forth in §12.1 of the plan and the non-exclusive jurisdiction of the debtor's case for the purpose set forth in §12.2 of the plan. See confirmation order, paragraph 34. Pursuant to the plan, a creditor trust was also created for the benefit of pursuing certain litigation claims for the benefit of unsecured creditors. The creditor trust was funded by fegs with cash and the assignment of litigation claims consisting of preference claims, claims held by fegs against two of its former officers and claims held by fegs against its former auditors. Pursuant to the plan, robert n”

“Changes in Fund Balances - 32062;”

“On march 18, 2015 (the "petition date"), federation employment and guidance service, inc. ("fegs", the "debtor", or the "taxpayer") filed a voluntary petition for relief under chapter 11 of the bankruptcy code in the united states bankruptcy court for the eastern district of new york, case no. 15-71074 (reg). As a result of the bankruptcy filing, the taxpayer did not undergo an a133 audit. That said, since march 18, 2015 through february 28, 2018, the taxpayer has filed monthly operating reports ("mor") with the court and from march 1, 2018 through the current period, quarterly operating reports ("qor") which reflect its financial activity. The taxpayer's monthly operating reports and quarterly operating reports are available for review at https://ecf.nyeb.uscourts.gov/.”