Fedcap Inc.

“fedcap, inc. makes its form 990 available to the public by retaining a copy at its place of business. the form 990 is likewise published on the internet at www.guidestar.org. the organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“IN MARCH 2020, THE WORLD HEALTH ORGANIZATION OFFICIALLY DECLARED COVID-19, A DISEASE CAUSED BY THE NOVEL CORONAVIRUS, A PANDEMIC. THIS CAUSED MANY LOCAL AND NATIONAL GOVERNMENTS, INCLUDING NEW YORK STATE, TO IMPOSE RESTRICTIONS ON BUSINESS OPERATIONS, TRAVEL AND PUBLIC GATHERINGS. THE OUTBREAK HAS ADVERSELY IMPACTED THE LEVEL OF ECONOMIC ACTIVITY AROUND THE WORLD AND DISRUPTED NORMAL BUSINESS ACTIVITY IN EVERY SECTOR OF THE ECONOMY. Fedcap, inc. has attempted to mitigate the impact of COVID-19 by enhancing its community outreach efforts to generate revenues to support its mission of making high outcome, life-changing, sustainable differences for individuals and their families to improve their economic well-being through work. Form 990, Part VI, Section A, Line 6 Fedcap Inc.'s sole member is the Fedcap Group, Inc. Form 990, Part VI, Section A, Line 7a THE ORGANIZATION'S Bylaws reserve the power to the SOLE MEMBER to APPOINT, REPLACE or REMOVE the BOARD OF DIRECTORS (for any reason at any time). Form 990, Part VI, Section A, Line 7b Fedcap Inc.'s bylaws reserves the following powers to its sole member, Fedcap Group, Inc.: - Amend the Certificate of Incorporation or Bylaws, - Approve a merger or consolidation with or into another entity, - Adopt a budget or make a material change to a budget, - Divest itself of any line of business, - File for bankruptcy, - Permit or approve its entering into any guaranty or surety arrangement, - Consent to the entry of a judgment against it, - Approve the sale of a material part of its assets, - Commence a lawsuit, - Admit a new member, - Approve the acquisition of any entity, - Permit the incurring of any indebtedness for borrowed money. Form 990, part vi, section B, line 11b The Form 990 was prepared by an independent accounting firm in conjunction with FEDCAP's financial department. The Form 990 is reviewed by Senior Management and a full copy is distributed to the Board of Directors prior to its filing with the Internal Revenue Service. Form 990, part vi, section B, line 12c Fedcap, Inc. follows FEDCAP's conflict of interest policy. The conflict of interest policy is signed by appropriate Fedcap Employees annually. Each member of the Board of Directors signs the conflict of interest policy on an annual basis. Violation of the policy will subject an employee to disciplinary action or immediate discharge. Employees who have knowledge or suspicion of improper conduct or activities by other employees or outside parties doing business with Fedcap, are expected to immediately bring it to the attention of the CEO or Director of Human Resources. Form 990, Part VI, Section B, Line 13 & 14 Fedcap Inc, operates under the whistleblower and document retention policy of its parent organization, the Fedcap Group, Inc. Form 990, Part VI, Section B, Line 15 Fedcap, Inc. does not compensate any of the officers reported on the Form 990; that compensation is paid by Fedcap Rehabilitation Services, Inc. (an affiliated organization). The process that Fedcap undertakes to determine compensation is as follows: The Board of Directors has established a Compensation Committee of independent persons that have no personal interest in the proposed compensation agreement. In determining the President's compensation package, the compensation committee conducts an analysis of industry comparables for individuals performing similar job functions. The Compensation committee ultimately makes the decisions about the President's compensation and memorializes its decision in the Board Minutes.”