Jeffex Inc.

Form 990, Part V, Line 2A & Form 990, Part IX, Line 24

“JEFFEX, INC. HAS ENTERED INTO A COMMON PAYMASTER AND PAYROLL REPORTING AGENT RELATIONSHIP WITH A RELATED ORGANIZATION, THOMAS JEFFERSON UNIVERSITY HOSPITALS, INC. (TJUH). AS SUCH, TJUH ISSUES ALL REQUIRED FORM W-2 RELATED TO THE EMPLOYEES OF JEFFEX, INC. THEREFORE FORM 990, PART V, LINE 2A IS ZERO. MOREOVER, THE PAYROLL AND RELATED BENEFITS EXPENSE RELATED TO SUCH EMPLOYEES ARE REPORTED AS PURCHASED SERVICES ON FORM 990, PART IX, LINE 24A SINCE THESE EXPENSES ARE PAID BY TJUH TO THE EMPLOYEES AND THE TRANSACTIONS ARE ACCOUNTED FOR THROUGH INTERCOMPANY TRANSACTIONS BETWEEN JEFFEX, INC. AND TJUH. FORM 990, PART VI, LINES 6, 7A & 7B TJUH SYSTEM, INC. IS THE SOLE MEMBER OF JEFFEX, INC. As the sole member of JeffeX, INC., it has the ability to exercise certain rights over the appointment and approval of directors and certain transactions. FORM 990, PART VI, LINE 11B THE FORM 990 IS REVIEWED INTERNALLY BY MANAGEMENT OF THOMAS JEFFERSON UNIVERSITY (TJU), AN AFFILIATE OF JEFFEX, INC. IT IS THEN PROVIDED TO THE BOARD OF JEFFEX, INC. BEFORE FILING. FORM 990, PART VI, LINE 12C THOMAS JEFFERSON UNIVERSITY POLICY NO. 102.13 ("THE POLICY") GOVERNS CONFLICT OF INTEREST DISCLOSURE AND MONITORING OF ALL VOTING MEMBERS OF THE UNIVERSITYS BOARD OF TRUSTEES AND AFFILIATE ENTITY BOARDS. THE CONFLICTS OF INTEREST POLICY IS DESIGNED TO ASSIST THE UNIVERSITY IN EVALUATING ARRANGEMENTS, CONTRACTS, OR TRANSACTIONS THAT MAY BENEFIT THE PRIVATE INTEREST OF A TRUSTEE, THEIR FAMILY MEMBER(S), A MEMBER OF A COMMITTEE OR SUBCOMMITTEE THAT EXERCISES BOARD-DELEGATED POWERS OF THE UNIVERSITY, OR SENIOR MANAGEMENT. THE POLICY IS INTENDED TO SUPPLEMENT BUT NOT REPLACE APPLICABLE STATE AND FEDERAL LAWS GOVERNING NONPROFIT CHARITABLE CORPORATIONS. IN ACCORDANCE WITH THE POLICY, EACH VOTING MEMBER OF THE BOARD OF TRUSTEES MUST COMPLETE, AT LEAST ANNUALLY, THE UNIVERSITYS CONFLICT OF INTEREST DISCLOSURE PROCESS. THE CONFLICT OF INTEREST PROCESS INCLUDES DISTRIBUTION OF AN ELECTRONIC DISCLOSURE TO ALL PERSONS WHO SERVED AS VOTING MEMBERS OF THE BOARD OF TRUSTEES, MEMBERS OF SENIOR MANAGEMENT, AND KEY EMPLOYEES DURING THE PREVIOUS FISCAL YEAR. (JULY 1 THROUGH JUNE 30). THE DISCLOSURE FORM ELICITS INFORMATION RELATED TO THE RESPONDENTS ACTUAL OR POTENTIAL INTERESTS AND ACTIVITIES IN WHICH HE OR SHE ENGAGED DURING THE REPORTING PERIOD. THE PROCESS ALSO REQUIRES COVERED PERSONS TO DISCLOSE SUCH INFORMATION ABOUT THEIR FAMILY MEMBERS, AS THAT TERM IS DEFINED IN THE POLICY. IN ADDITION TO ATTESTING TO THE VERACITY OF INFORMATION CONTAINED WITHIN THE DISCLOSURE, THE VOTING MEMBER OF THE BOARD OF TRUSTEES MUST CERTIFY THAT HE OR SHE WILL ABIDE BY THE UNIVERSITYS CONFLICTS OF INTEREST AND OTHER RELEVANT POLICIES AND WILL DISCLOSE ALL INTERESTS AND ACTIVITIES RELATED TO THEIR ONGOING SERVICE ON THE BOARD OF TRUSTEES. MEMBERS OF SENIOR MANAGEMENT AND INDIVIDUALS IDENTIFIED AS KEY EMPLOYEES RECEIVE DISCLOSURE QUESTIONS REQUIRED OF MEMBERS OF THE BOARD OF TRUSTEES UNDER THE POLICY AND QUESTIONS REQUIRED UNDER THE POLICY FOR EMPLOYEES. ALL PERSONS COVERED UNDER THE UNIVERSITYS BOARD OF TRUSTEES AND EMPLOYEE-RELATED CONFLICT OF INTEREST POLICIES MAINTAIN A CONTINUING OBLIGATION TO DISCLOSE ALL CHANGES IN INTERESTS, ACTIVITIES, AND RELATIONSHIPS THROUGHOUT THE YEAR. THE UNIVERSITY MAINTAINS ALL ORIGINAL DISCLOSURE FORMS AND CERTIFICATIONS IN ACCORDANCE WITH ITS RECORD RETENTION POLICY. THE UNIVERSITY COMPILES AND ISSUES TO THE EXECUTIVE COMMITTEE A COMPREHENSIVE REPORT OF ALL ACTUAL OR POTENTIAL INTERESTS AND ACTIVITIES REPORTED DURING THE BOARD OF TRUSTEES CONFLICTS OF INTEREST DISCLOSURE PROCESS. THE BOARD OF TRUSTEES FOR ITSELF OR THROUGH DELEGATION TO THE AUDIT, COMPLIANCE AND RISK COMMITTEE, EVALUATES ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST TO DETERMINE WHETHER ACTIVITIES OR ARRANGEMENTS REQUIRE MANAGEMENT, REDUCTION, OR ELIMINATION OF CERTAIN INTERESTS, ACTIVITIES, OR RELATIONSHIPS. WHEN MANAGEMENT OF THE IDENTIFIED CONFLICT IS REQUIRED, THE AFFECTED PERSON(S), MEMBERS OF”