The Jain Family Institute

“Carola jain and robert jain have a family relationship.”

“The organization had no committees with authority to act on behalf of the governing body.”

“The jain family institute has its form 990 prepared by an outside accounting firm. It is reviewed by the chief operating officer and a complete copy is provided electronically to the organization's board of directors for their review. The board of directors either acknowledges their approval via email or convenes a board meeting to seek clarification or correction. The chief operating officer requests any such corrections from the outside accounting firm prior to filing.”

“The organization maintains a conflict of interest policy for employees, board members, committee members, and key employees. Covered individuals must annually sign a statement confirming they have read the policy and must disclose any roles or financial interests held by themselves or their family members. The secretary reviews disclosures and reports to the board. When a conflict arises, the individual must disclose all material facts, recuse themselves from discussion, and abstain from voting. The board, using comparability data when appropriate, determines if the transaction is reasonable and in the organization's best interest, and documents the process in the minutes.”

“In 2022, the organization commissioned a compensation study from a human resources consulting firm, who produced a set of recommendations from their analysis. This analysis compared the compensation of a range of positions across the organization against those at comparable nonprofits, based on publicly-available 990 data and proprietary data owned by the consulting firm. The organization's board of directors annually approves the compensation of officers as part of the annual budget review. The deliberations and decision are documented in the board minutes. Form 990, part vi, section b, line 15b every year, the board of directors reviews and approves pay for all employees as part of the budget process. Their decisions are recorded in official board meeting notes. This analysis compared the compensation of a range of positions across the organization against those at comparable nonprofits, based on publicly-available 990 data and proprietary data owned by the consulting firm.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the form 1023, financial statements, articles of incorporation and by-laws are also available upon written request.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Editors: program service expenses 204,570. Management and general expenses 0. Fundraising expenses 0. Total expenses 204,570. Payroll services: program service expenses 51,662. Management and general expenses 7,455. Fundraising expenses 7,175. Total expenses 66,292. Professional hr services: program service expenses 0. Management and general expenses 11,683. Fundraising expenses 0. Total expenses 11,683. Professional writers: program service expenses 34,598. Management and general expenses 0. Fundraising expenses 0. Total expenses 34,598. Purchased services: program service expenses 37,261. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,261. Research services: program service expenses 651,898. Management and general expenses 0. Fundraising expenses 0. Total expenses 651,898.”

“Write-off of prior year grant payable 13,250.”

“The organization's board of directors assumes responsibilty for the oversight of the audit of its financial statements and the selection of an independent accountant. The process has not changed from the prior year.”