Young Survival Coalition Inc.

“Ysc's form 990 was prepared by the outside accountants with the assistance of ysc's management. The draft of the form was reviewed by ysc's management and ceo. The final form 990 was reviewed by the board of directors before filing.”

“Each calendar year, each member of the board of directors and each employee is required to sign a conflict of interest statement that is kept on file with the young survival coalition. If any board member, officer, employee, staff member, committee member or volunteer of the young survival coalition has any direct or indirect interest in, or relationship to, any individual or organization which proposes to enter into a transaction with the young survival coalition, the person provides prompt written notice of the interest or relationship to the board of directors of the young survival coalition, refrains from participating in any discussion or voting on that particular transaction, and does not otherwise attempt to exert any influence on the discussion or voting on that particular transaction which would affect the outcome of the decision making process.”

“The ceo's compensation is reviewed and approved by the board of directors. Compensation for ysc staff is reviewed annually and set by the ceo using comparisons to industry standards. A copy of salary recommendations for all staff (including the ceo) is kept in personnel files. The ceo's compensation is reviewed annually by the board in june. However, due to covid, her compensation was reviewed in january 2021.”

“Ysc's governing documents, financial statements, and conflict of interest policy are available upon request. Ysc's financial statements are also available on its website.”

“On may 4, 2020, ysc received loan proceeds in the amount of $377,845 under the paycheck protection program (ppp). The promissory note required monthly principal and interest (1%) payments amortized over the two-year term of the promissory note with a deferral of payments for the first sixteen months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note would be forgiven by the small business administration (sba) in whole or in part. During the fiscal year, ysc used the loan proceeds for purposes consistent with the ppp, filed for forgiveness, and on march 22, 2021 received formal notification of forgiveness (of the full value of the loan) by the sba. Accordingly, the revenue from debt extinguishment was recorded in "contributions" during the year ended june 30, 2021. On january 27, 2021, ysc received a second ppp loan totaling $119,160. The promissory note required monthly principal and interest (1%) payments amortized over the five-year term of the promissory note. During the fiscal year, ysc used the loan proceeds for purposes consistent with the ppp, and as of the date of this report, ysc has filed for (and received notification of) full forgiveness of the loan. As forgiveness was received on august 9, 2021, the full value of the loan has been classified as a current liability in the accompanying statement of financial position as of june 30, 2021.”