Jumpstart Inc.

“Jumpstart's sole members are teamneo and case western reserve university who may appoint one trustee per each member to the board of directors.”

“Refer to response regarding team members.”

“Process used to review the form 990: copies of the completed forms are provided to the members of the finance and audit committee and a meeting is held prior to the filing of the returns. The chief financial officer and senior partner, finance present the returns for review and comment by the committee. The auditors prepare the return and are invited to the meeting with attendance at their discretion. All pertinent form responses and financial schedules are presented for comment and explanation. Upon full review and approval by the committee the returns are shared with the full board of directors and approved for filing, which will take place on a timely basis subsequent to the approval.”

“Compliance with conflict of interest policy: jumpstart staff and board of directors follow its conflict of interest procedure throughout the year. After an initial review by the chief financial officer, the finance/audit committee of the board of directors reviews all staff and board conflict of interest disclosure forms to determine any that may warrant further investigation or internal control steps. In the event there are any, these steps are communicated to the board and staff so that all are aware of any potential conflicts that could arise during the normal course of business. If the conflict is such that an individual is deemed to be terminally conflicted, then that person must resolve the conflict which could mean steps up to and including resignation from the board of directors or employment with jumpstart inc. The most likely situation for an individual is a perceived conflict of interest which results in that individual disclosing this situation during the normal course of business, and subsequently recusing themselves from a vote or decision of the organization. The organization and its staff has a history of active monitoring of such situations. In the case of the board of directors and its committees, the minutes from meetings and voting records identify when a member recuses themselves due to perceived conflicts of interest. In the case of staff, it is common for an employee to contact their supervisor and the chief financial officer when a question arises. The issue is discussed and in most cases the chief financial officer provides the employee with an interpretation and instructions on how to proceed based upon the description of the situation. These activities take place via conversations as well as digitally at times using e-mail. If a situation is complex or unclear, it is elevated to the finance/audit committee for a decision with e-mail being the usual vehicle to do so. The organization also conducts annual training on compliance with our conflict of interest polices and educates new employees during orientation on all internal controls related to conflict of interest, ethics, whistleblowers, fraud prevention and accounting policies.”

“Determining compensation of ceo, executive director, or top management official: the compensation committee of jumpstart's board of directors is responsible for approving the entire organization's compensation each year. The compensation committee is made up of independent board directors and no organization staff. For the senior staff of the organization, the committee gathers comparable salary data from similar organizations as well as budget information for these. Annual salary and performance compensation survey results published by professional staffing organizations is used by the committee. Additionally, the committee has engaged with outside compensation consultants periodically to perform a compensation analysis. The salary and performance compensation history for any position being evaluated is also shared with the committee so that the historical total compensation progression can be taken into account when considering any changes going forward. The committee analyzes all data and meets with the jumpstart ceo to gain an understanding of the organization's recommended salary for the next budget year based on all factors including achievement of individual and organizational objectives, supervisory reviews and recommendations, and any other circumstances presented. Once this is done, the committee retreats and independently renders its recommendation for compensation for all staff and communicates that recommendation to the ceo and independently to the payroll department of the organization.”

“The organization shares information that falls within parameters agreed upon by our funders, clients and portfolio companies. The most recently filed form 990 is posted on jumpstart's website. Governing documents and policies are not generally available to the general public, although the ohio secretary of state website provides public access to jumpstart's governing documents.”

“Jumpstart's sole members are teamneo and case western reserve university who may appoint one trustee per each member to the board of directors.”

“Copies of the completed forms are provided to the members of the finance and audit committee and a meeting is held prior to the filing of the returns. The chief financial officer and senior partner, finance present the returns for review and comment by the committee. The auditors prepare the return and are invited to the meeting with attendance at their discretion. All pertinent form responses and financial schedules are presented for comment and explanation. Upon full review and approval by the committee the returns are shared with the full board of directors and approved for filing, which will take place on a timely basis subsequent to the approval.”

“Compliance with conflict of interest policy: jumpstart staff and board of directors follow its conflict of interest procedure throughout the year. After an initial review by the chief financial officer, the finance/audit committee of the board of directors reviews all staff and board conflict of interest disclosure forms to determine any that may warrant further investigation or internal control steps. In the event there are any, these steps are communicated to the board and staff so that all are aware of any potential conflicts that could arise during the normal course of business. If the conflict is such that an individual is deemed to be terminally conflicted, then that person must resolve the conflict which could mean steps up to and including resignation from the board of directors or employment with jumpstart inc. The most likely situation for an individual is a perceived conflict of interest which results in that individual disclosing this situation during the normal course of business, and subsequently recusing themselves from a vote or decision of the organization. The organization and its staff has a history of active monitoring of such situations. In the case of the board of directors and its committees, the minutes from meetings and voting records identify when a member recuses themselves due to perceived conflicts of interest. In the case of staff, it is common for an employee to contact their supervisor and the chief financial officer when a question arises. The issue is discussed and in most cases the chief financial officer provides the employee with an interpretation and instructions on how to proceed based upon the description of the situation. These activities take place via conversations as well as digitally at times using e-mail. If a situation is complex or unclear, it is elevated to the finance/audit committee for a decision with e-mail being the usual vehicle to do so. The organization also conducts annual training on compliance with our conflict of interest polices and educates new employees during orientation on all internal controls related to conflict of interest, ethics, whistleblowers, fraud prevention and accounting policies.”

“Determining compensation of ceo, executive director, or top management official: the compensation committee of jumpstart's board of directors is responsible for approving the entire organization's compensation each year. The compensation committee is made up of independent board directors and no organization staff. For the senior staff of the organization, the committee gathers comparable salary data from similar organizations as well as budget information for these. Annual salary and performance compensation survey results published by professional staffing organizations is used by the committee. Additionally, the committee has engaged with outside compensation consultants periodically to perform a compensation analysis. The salary and performance compensation history for any position being evaluated is also shared with the committee so that the historical total compensation progression can be taken into account when considering any changes going forward. The committee analyzes all data and meets with the jumpstart ceo to gain an understanding of the organization's recommended salary for the next budget year based on all factors including achievement of individual and organizational objectives, supervisory reviews and recommendations, and any other circumstances presented. Once this is done, the committee retreats and independently renders its recommendation for compensation for all staff and communicates that recommendation to the ceo and independently to the payroll department of the organization.”

“Availability of other documents the organization shares information that falls within parameters agreed upon by our funders, clients and portfolio companies. The most recently filed form 990 is posted on jumpstart's website. Governing documents and policies are not generally available to the general public, although the ohio secretary of state website provides public access to jumpstart's governing documents.”

“Statement of revenue investment valuation: investment valuation is included as service revenue for jumpstart represents the net realized and unrealized gains (losses) on preferred stock and notes receivable. Jumpstart as part of its normal operations, receives funding which in turn is invested in high growth potential businesses.”

“To accelerate the progress of high potential, early-stage businesses, improve success in achieving goals & raising capital resulting in job creation & growth in northeast ohio.”

“Jumpstart inc. Unlocks the full potential of entrepreneurship to transform entire communities. Jumpstart inc. Combats community deterioration and lessens the burdens of government by conducting investment and other programs to enhance the economic revitalization of northeast ohio, an area which has experienced economic decline and community deterioration ("economic revitalization programs").”

“Jumpstart inc. Conducts its economic revitalization programs by functioning as a regional nonprofit venture development entity which supports startups and high potential small businesses who have the potential to economically transform communities. As the primary entrepreneurial economic revitalization program jumpstart inc. Encourages the creation of new employment opportunities in northeast ohio through activities supporting the launch and growth of companies with high potential for providing employment opportunities and thereby contributing to the alleviation of economic distress in northeast ohio, which has experienced economic decline and community deterioration, and enhancing its economic revitalization. Jumpstart conducts investment activities to supplement state and local government economic and job development investment and other programs directed at encouraging the initiation of growth, matu ration and expansion of small businesses with a potential for providing enhanced employment opportunities and thereby contributing to an economic revitalization of northeast ohio. Jumpstart often bundles guidance from experienced venture partners with its seed investment capital. Early-stage investment from jumpstart allows these innovative companies to complete product prototypes, conduct early marketing campaigns, and add key members. Similarly, the strategic and operational guidance from venture partners enables innovation-oriented entrepreneurs to hit key growth milestones, advance through stages of the business, and attract follow-on funding. Through fiscal year 2020, jumpstart has invested $61.6m in 125 portfolio companies whose business activities were determined to be consistent with the goals of the economic revitalization program. With regard to accelerating growth, client and portfolio companies receive intensive technical support from the jumpstart team. Venture partners and mentors assigned to a client company provide guidance to help ensure that key milestones are met. Jumpstart advisors have: 1) connected jumpstart's client and portfolio companies with hundreds of resources including subject matter experts, board members, management team members, and potential customers; 2) enabled jumpstart client and portfolio companies t0 meet individual milestones, including: finalizing intellectual property, securing follow-on capital, building internal systems and developing strategic partner and client relationships.”

“Outreach and education - is a significant and critical segment of jumpstart's overall economic revitalization programs. The jumpstart outreach and education program's continuous presentation of networking events, seminars and published articles both in traditional and electronic media, combine to build a greater appreciation of the importance of entrepreneurship to the northeast ohio regional economy. The activities of outreach and education are directed to supporting networks of investors, advisors and professional service firms in order to encourage an increase in the number of successful high-potential entrepreneurial ventures in northeast ohio and thereby enhance the economic revitalization of the region. The jumpstart outreach and education program's media and event presentations continually inform and educate northeast ohio's entrepreneurs, giving visibility to the success of entrepreneurial ventures and providing support to enable a thriving entrepreneurial community. From 7/1/19 through 06/30/20, the outreach and education program: 1) communicated with more than 38,400 email subscribers and 27,055 social media followers, highlighting entrepreneurial successes as well as events for networking and learning. 2) achieved 705 total media mentions, providing educational information and access to resources to audiences throughout the country and highlighting client success stories. 3) offered monthly virtual events allowing entrepreneurs to increase their knowledge and expertise in topics important for accelerating the growth of an early-stage venture and growing a successful business. To enhance the coverage of this series many of these events and conversations are recorded and made available as podcasts, video spotlights and other content. Through 06/30/21 there have been more than 18,200 podcast downloads from the jumpstart website and more than 92,800 video views on jumpstart's youtube channel. Overall, there were more than 153,450 unique visitors to the jumpstart website in fiscal year 2021.”

“Network advisors & economic inclusion is an essential componentof the economic revitalization programs that provides the initial contact and impetus to the development of seed ideas. These individuals provide education and information to individuals concerning the development and operation of small businesses in northeast ohio for the purpose of encouraging the initiation, expansion, growth, and maturation of both new and existing small business which can provide employment opportunities and thereby aid in alleviating unemployment, community deterioration and economic distress in northeast ohio and enhancing the economic revitalization of the area. Network advisors comprise the program that concentrates on assisting technology based nascent companies and small businesses with growth interest and potential. Jumpstart's staff, mentors and network of advisors guide northeast ohio's high potential entrepreneurs, assisting founders in creating and articulating high growth strategic and operational plans, accessing investment funds and moving their businesses toward key milestones. Network advisors, mentors and entrepreneurs-in-residence are successful serial entrepreneurs, seasoned investors, industry experts and/or former ceos, with significant experience. Jumpstart's advisors have a special focus on supporting women and minority entrepreneurs working in the highest growth industries. The overall advisory program is a vital aspect in the goal helping to revitalize the economic environment of northeast ohio. Jumpstart believes that the availability of experienced entrepreneurs, investors, industry leaders and executives to startup companies is critical to success. Guidance of early stage entrepreneurial endeavors provides insight, knowledge and generally broadens the vision of the entrepreneur. Economic inclusion is at the foundation and core of how jumpstart conducts business, as this genuine commitment allows jumpstart to realize the rich diversity of talent and promise that extends throughout northeast ohio. 27 percent of jumpstart's board of directors are women, and nearly 25 percent are people of color. Meanwhile, 51 percent of jumpstart's staff are women, while nearly 35 percent are people of color. Additionally, from 7/1/19 6/30/20, 43 percent of the companies served by jumpstart were owned/led by people of color (african american or latinx) and 49 percent were woman owned/led. We believe in accelerating the growth of these minority and women-owned businesses because it is a critical component of building and sustaining a healthy economy. These firms hold great promise for the region, as statistically, minority businesses tend to hire minority workers at more than twice the rate of non-minority firms. The challenge, however, is to grow the types of businesses that can employ much larger numbers. There is a critical gap in funding and support for early stage, minority-owned, high potential businesses that could become large companies which create jobs, wealth and prosperity. Through the economic inclusion program, jumpstart provides assistance tailored to the specific needs of these historically underserved communities to guide high impact minority and women owned businesses seeking to raise capital from private investors in order to become larger scale national and international firms. Advisors also assist targeted businesses situated in the urban centers of northeast ohio, whose businesses directly affect minority populations. By providing intensive hands-on guidance and strategic planning, these advisors enable these key entrepreneurs to articulate high growth plans, access investment funds, and move their businesses toward critical milestones. Jumpstart embeds its economic inclusion programming across all of its activities. Specific examples include: 1) the jumpstart focus fund, a $10 million venture captial fund specifically dedicated to supporting female and/or minority led startups across ohio. 2) the core city: clevel”