2024-08-26T09:54:45-05:00 2023-12-31 873707167 CBIZ MARKS PANETH LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2023-01-01 364764467 JUST CAPITAL FOUNDATION INC JUST 6468542141 44 EAST 30TH STREET 11TH FLOOR NEW YORK NY 10016 MARTIN WHITTAKER CHIEF EXECUTIVE OFFICER 6468542141 2024-08-20 1 1 MAGDALENA CZERNIAWSKI P00535099 2125038800 2024-08-20 2023 2024-08-08 14:25:15Z MARTIN WHITTAKER 44 EAST 30TH STREET 11TH FLOOR NEW YORK NY 10016 10375842 0 X JUSTCAPITAL.COM X 2013 DE JUST CAPITAL'S MISSION IS TO BUILD A MORE JUST ECONOMY THAT WORKS FOR ALL AMERICANS BY HELPING COMPANIES IMPROVE HOW THEY SERVE ALL THEIR STAKEHOLDERS - WORKERS, CUSTOMERS, COMMUNITIES, THE ENVIRONMENT, AND SHAREHOLDERS - AS DEFINED BY THE PUBLIC. 27 27 65 32 0 0 11635628 9588336 771719 769541 5049 17965 0 0 12412396 10375842 235616 0 0 0 9398780 10458093 90000 0 615384 2409946 2082682 12134342 12540775 278054 -2164933 6557999 4243276 2895933 2746143 3662066 1497133 X JUST CAPITAL'S MISSION IS TO BUILD A MORE JUST ECONOMY THAT WORKS FOR ALL AMERICANS BY HELPING COMPANIES IMPROVE HOW THEY SERVE ALL THEIR STAKEHOLDERS - WORKERS, CUSTOMERS, COMMUNITIES, THE ENVIRONMENT, AND SHAREHOLDERS - AS DEFINED BY THE PUBLIC. 0 0 10691486 774541 JUST CAPITAL IS THE ONLY INDEPENDENT NONPROFIT THAT TRACKS, ANALYZES, AND ENGAGES WITH LARGE CORPORATIONS AS WELL AS THEIR INVESTORS ON HOW THEY PERFORM ON THE PUBLIC'S PRIORITIES. OUR RESEARCH, RANKINGS, INDEXES, AND DATA-DRIVEN TOOLS EMPOWER ALL MARKET PARTICIPANTS TO HELP BUILD A MORE JUST ECONOMY. WE POLL AMERICANS EVERY YEAR TO IDENTIFY THE ISSUES THAT MATTER MOST IN DEFINING JUST BUSINESS BEHAVIOR TODAY. WE THEN DEFINE METRICS THAT MAP TO THOSE ISSUES AND TRACK AND ANALYZE THE LARGEST, PUBLICLY TRADED U.S. COMPANIES. SINCE 2015 WE'VE POLLED MORE THAN 165,000 AMERICANS ON THEIR PRIORITIES FOR CAPITALISM AND JUST BUSINESS BEHAVIOR. OUR SURVEY RESEARCH NOT ONLY PROVIDES A CLEAR ROADMAP FOR WHAT ISSUES MATTER MOST TO THE AMERICAN PUBLIC WHEN IT COMES TO JUST BUSINESS BEHAVIOR, BUT ALSO DETAILS TIMELY, RELEVANT INSIGHTS INTO AMERICAN SENTIMENTS INTO THE MOST CRITICAL ISSUES OF OUR TIME.IN 2023, WE TRACKED, ANALYZED, AND RANKED 937 COMPANIES ACROSS FIVE STAKEHOLDER GROUPS, 20 ISSUES, AND 236 DATA POINTS. OF THESE COMPANIES, 560 ARE REGISTERED FOR OUR CORPORATE PORTAL AND 389 ENGAGED WITH OUR DATA REVIEW PERIOD, REPRESENTING 18 MILLION WORKERS, NEARLY 12% OF THE TOTAL U.S. WORKFORCE. 77.6% OF RANKED COMPANY REPRESENTATIVES SURVEYED SAY THAT ENGAGING WITH JUST CAPITAL HAS HELPED INFORM THE IMPLEMENTATION OF, AND/OR PROMPTED INTERNAL CONVERSATION ABOUT, NEW POLICIES OR PRACTICES. WE WORKED WITH OVER 115 COMPANIES TO HELP THEM IMPROVE THEIR STAKEHOLDER PERFORMANCE. OUR ANNUAL RANKINGS OF AMERICA'S MOST JUST COMPANIES SHOWCASED THE COMPANIES AT THE FOREFRONT OF STAKEHOLDER-DRIVEN LEADERSHIP, TRACKING HOW CORPORATE LEADERS DELIVERED VALUE TO ALL THEIR STAKEHOLDERS INCLUDING THEIR WORKERS, CUSTOMERS, COMMUNITIES, SHAREHOLDERS, AND THE ENVIRONMENT. IN 2021, WE LAUNCHED A NEW, EXPANSIVE PARTNERSHIP WITH CNBC WHICH INCLUDES THE EXCLUSIVE RIGHTS TO PUBLISH THE JUST 100 LIST OF COMPANIES LEADING OUR RANKING OF AMERICA'S MOST COMPANIES, AS WELL AS ONGOING PROFILES AND SEGMENTS THAT ELEVATE ESG DATA AND STAKEHOLDER METRICS ON PAR WITH TRADITIONAL FINANCIAL METRICS TO DEFINE WHAT GOOD LOOKS LIKE REGARDING CORPORATE PERFORMANCE TODAY. IN ADDITION TO THE RANKINGS, THROUGHOUT 2023 WE BUILT OUT DATA-DRIVEN INSIGHTS AND PROGRAMMATIC INITIATIVES, PARTNERSHIPS, AND PRODUCTS TO DIRECTLY ENCOURAGE AND SUPPORT CORPORATIONS TO ADOPT MORE JUST BUSINESS PRACTICES. BELOW ARE KEY HIGHLIGHTS: THROUGHOUT 2023, WE HAVE BEEN EXPERIMENTING AND LEARNING FROM OUR PROGRAMMATIC INITIATIVES AS WE PREPARE FOR THE PUBLIC LAUNCH OF OUR CORPORATE IMPACT LAB, A BUSINESS-LED PLATFORM WHERE APPLIED RESEARCH MEETS CORPORATE ACTION. CORPORATE EXECUTIVES ARE INVITED TO ENGAGE WITH JUST CAPITAL'S EXTENSIVE NETWORK OF CROSS-SECTOR EXPERTS TO TACKLE CONSEQUENTIAL ISSUES (LEVERAGING JUST'S UNIQUE DATASETS, STAKEHOLDER FRAMEWORKS, RESEARCH CAPABILITY, PRODUCTS, AND ROBUST NETWORK OF PEERS AND IMPACT PARTNERS). THE LAB PARTNERS WITH EXECUTIVE DECISION-MAKERS AT THE HELM OF THE LARGEST CORPORATIONS IN AMERICA TO DELIVER VALUE FOR KEY STAKEHOLDERSINCLUDING WORKERS, COMMUNITIES, CUSTOMERS, AND THE ENVIRONMENTWHILE LEVERAGING THEIR SIGNIFICANT MARKET INFLUENCE TO SCALE CORPORATE BEHAVIOR CHANGE. THIS PLATFORM SUPPORTS OUR THREE-YEAR IMPACT GOAL TO GENERATE DIRECT OUTCOMES FOR 5 MILLION WORKERS THROUGH IMPROVED PERFORMANCE ON INTERRELATED ELEMENTS OF JOB QUALITY, INCLUDING FINANCIAL WELLNESS, EQUITY AND MOBILITY, AND ACCESS TO CARE BENEFITS. THIS NEXT PHASE OF OUR WORK BUILDS ON JUST CAPITAL'S WORKER FINANCIAL WELLNESS INITIATIVE, WHICH HAS COALESCED 15 LARGE COMPANIES, COLLECTIVELY REPRESENTING 1.2 MILLION WORKERS, TO IMPLEMENT MEASURABLE CHANGES THAT MATERIALLY IMPROVE WORKFORCE WELL-BEING. THIS WORK HAS BEEN A MAJOR FOCUS OF JUST CAPITAL, INCLUDING HOSTING THESE AND OTHER LARGE EMPLOYERS FOR CONVENINGS TO TALK ABOUT SPECIFIC ACTIONS THEY ARE TAKING TO SUPPORT THEIR WORKFORCE. JUST CAPITAL ALSO PLANNED THE LAUNCH OF ITS FIRST JUST JOBS SCORECARD, A DATA-DRIVEN TOOL THAT PINPOINTS WHERE RUSSELL 1000 COMPANIES ARE DOING WELL ON INTERRELATED ELEMENTS OF JOB QUALITY AND WHERE THEY HAVE ROOM TO IMPROVE. WE SHARED IT WITH CORPORATE LEADERS TO GATHER THEIR INPUT ON USE CASES ALONG WITH THE INPUT OF ISSUE EXPERTS, ACADEMICS, AND OTHER CROSS-SECTOR LEADERS. THE SCORECARD WILL SERVE AS A SIGNIFICANT FUNNEL THROUGH WHICH COMPANIES WILL ENGAGE MORE CLOSELY WITH OUR TEAM TO TAKE STEPS TOWARD GREATER INVESTMENT IN THEIR WORKERS. THIS WILL BE A CRITICAL TOOL FOR DRIVING PROGRESS, ESPECIALLY IN LIGHT OF OUR RECENT ANALYSIS THAT MORE THAN 36% OF R1000 WORKERS DO NOT MAKE A FAMILY-SUSTAINING LIVING WAGE. DEMONSTRATING THE INVESTOR CASE: JUST CAPITAL ALSO HELPS DRIVE CAPITAL TOWARD MORE JUST COMPANIES THROUGH DEVELOPING INVESTMENT PRODUCTS, CONVENING INVESTORS FOR TIMELY CONVERSATIONS, AND DEMONSTRATING THE CONNECTION BETWEEN STAKEHOLDER PERFORMANCE AND MARKET PERFORMANCE. AS OF 2024, OUR SUITE OF PRODUCTS REPRESENTED A TOTAL OVER $400 MILLION IN AUM ACROSS 8 DIFFERENT INVESTMENT PRODUCTS USING JUST CAPITAL DATA. OUR FLAGSHIP INDEX THE JUST U.S. LARGE CAP DIVERSIFIED INDEX (JULCD) WHICH INCLUDES THE TOP 50% OF RUSSELL 1000 COMPANIES WE RANK, HAS OUTPERFORMED THE RUSSELL 1000 BY 8.7% SINCE ITS 2018 INCEPTION THROUGH DECEMBER 31, 2023, AND POWERS GOLDMAN SACHS ASSET MANAGEMENT'S JUST ETF. OUR JUST 100 INDEX (JUONE), WHICH TRACKS THE TOP 100 COMPANIES IN OUR RANKINGS OF AMERICA'S MOST JUST COMPANIES, HAS ALSO OUTPERFORMED THE RUSSELL 1000 BY 4.06% SINCE INCEPTION THROUGH DECEMBER 31, 2023. SHIFTING THE NARRATIVE: ACROSS BROADCAST, DIGITAL, AND EVENTS PLATFORMS WE ARE EXPANDING OUR REACH AND INFLUENCE WITH THE TOP BUSINESS AND FINANCIAL LEADERS IN AMERICA HELPING REDEFINE BUSINESS LEADERSHIP AND INSPIRE COMPANIES TO TAKE ACTION. IN 2023, WE CONTINUED TO HIGHLIGHT THE LEADERSHIP OF THE JUST 100 COMPANIES THROUGH OUR MEDIA PARTNERSHIP WITH CNBC. THROUGH OUR EXCLUSIVE PARTNERSHIP, WE'RE LIFTING UP OUR UNIQUE POLLING INSIGHTS, PUTTING CORPORATE STAKEHOLDER PERFORMANCE METRICS ON PAR WITH TRADITIONAL MARKETS DATA, AND SHOWCASING WHAT GOOD LOOKS LIKE THROUGH JUST CEO INTERVIEWS, REACHING AN AUDIENCE OF 547 MILLION BUSINESS LEADERS AND INVESTORS ACROSS CNBC'S PLATFORMS EACH MONTH. BETWEEN MEDIA COVERAGE FROM CNBC AND OTHER LEADING OUTLETS LIKE BLOOMBERG, FORTUNE, WALL STREET JOURNAL, INSIDER, AND REUTERS, JUST REACHED OVER 1,100 CUMULATIVE PRESS HITS SINCE IN 2023 UP BY 253% FROM 2017.OVERALL 2023 HIGHLIGHTS INCLUDE: 120 PRESS HIGHLIGHTS 124 EDITORIAL BYLINES 1,133,000 PAGEVIEWS 15,000+ SUBSCRIBERS TO THE JUST REPORT 308 DONORS JUST CAPITAL POLLING HAS SHOWN A GROWING DESIRE FOR ACCOUNTABILITY, TRANSPARENCY, AND ACTION FROM CORPORATE AMERICA. THROUGHOUT THE COMING YEAR, JUST'S RESEARCH, POLLING, ANALYSIS, AND PROGRAMS WILL WORK TO INCENTIVIZE, GUIDE, AND SUPPORT COMPANIES' EFFORTS TO REBUILD TRUST WITH THEIR STAKEHOLDERS. WE'LL BE ESPECIALLY FOCUSED ON WORKERS, HELPING ENSURE ALL JOBS OFFER FAIR PAY, OPPORTUNITY FOR GROWTH, AND A FOCUS ON EQUITY FOR EMPLOYEES. 10691486 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 65 1 0 0 0 0 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 FL NY CT CA DE X X MARTIN WHITTAKER CEO 6468542141 44 EAST 30TH STREET 11TH FLOOR NEW YORK NY 10016 ABIGAIL DISNEY DIRECTOR (OUTGOING) 0.50 X 0 0 0 ALAN H FLEISCHMANN DIRECTOR 2.00 X 0 0 0 AMY LIU DIRECTOR 2.00 X 0 0 0 ANDREA JUNG DIRECTOR 0.50 X 0 0 0 ANNETTE NAZARETH DIRECTOR 0.50 X 0 0 0 ARIANNA HUFFINGTON DIRECTOR 0.50 X 0 0 0 DAN ARIELY DIRECTOR 0.50 X 0 0 0 DAN HESSE DIRECTOR 4.00 X 0 0 0 DAVID KAMENETZKY DIRECTOR 2.00 X 0 0 0 HOLLY GORDON DIRECTOR 0.50 X 0 0 0 JAMES P STEYER DIRECTOR (OUTGOING) 0.50 X 0 0 0 JASON WINGARD DIRECTOR 0.50 X 0 0 0 JEAN OELWANG SECRETARY & DIR (OUTGOING) 2.00 X X 0 0 0 JEFFREY WALKER DIRECTOR (OUTGOING) 2.00 X 0 0 0 JIM BILDNER DIRECTOR 2.00 X 0 0 0 JOHN ROGERS DIRECTOR 0.50 X 0 0 0 KIP TINDELL DIRECTOR 2.00 X 0 0 0 LAUREL BRITTON DIRECTOR 4.00 X 0 0 0 MARC H MORIAL DIRECTOR 0.50 X 0 0 0 MARK WEINBERGER DIRECTOR 4.00 X 0 0 0 MICHAEL WEINSTEIN DIRECTOR 4.00 X 0 0 0 MINDY LUBBER DIRECTOR 0.50 X 0 0 0 PAT RUSSO DIRECTOR 2.00 X 0 0 0 PAUL SCIALLA DIRECTOR (OUTGOING) 0.50 X 0 0 0 PAUL T JONES II CHAIRMAN, PRESIDENT & DIR 4.00 X X 0 0 0 PETER GEORGESCU DIRECTOR 4.00 X 0 0 0 RAY CHAMBERS DIRECTOR 0.50 X 0 0 0 RINALDO BRUTOCO DIRECTOR 4.00 X 0 0 0 ROBERT DEUTSCH TREASURER & DIRECTOR 4.00 X X 0 0 0 ROOSEVELT GILES DIRECTOR 4.00 X 0 0 0 SUSHMITA BANERJEE DIRECTOR 4.00 X 0 0 0 XAVIER DE SOUZA BRIGGS DIRECTOR 2.00 X 0 0 0 ALISON OMENS PRESIDENT 40.00 X 280940 0 71252 MARTIN WHITTAKER CHIEF EXECUTIVE OFFICER 40.00 X 700440 0 72623 TERESA YUNG CHIEF FIN. AND OPERATIONS 40.00 X 264764 0 40870 CAMBRIA ALLEN-RATZLAFF MANAGING DIR. & HEAD OF INVESTOR STRATEGIES 40.00 X 235420 0 65310 MICHELLE MULLINEAUX CHIEF COMM & MKTNG (OUTGOING) 40.00 X 256440 0 47972 MOHAMMAD TAHIR KHAN CHIEF TECHNOLOGY OFFICER 40.00 X 266940 0 68567 ROBERT MARSH CHIEF INFORMATION OFFICER (OUTGOING) 40.00 X 263525 0 49989 TOLU LAWRENCE MANAGING DIR, PROGRAMS & PARTNERSHIPS 40.00 X 222275 0 67042 2490744 0 483625 32 0 1 0 HARRIS INSIGFHT AND ANALYTICS LLC PO BOX 736518 DALLAS TX 75373 POLLING AND QUALITATIVE RESEARCH SERVICE 118900 BERLIN ROSEN LTD 15 MAIDEN LN 1600 NEW YORK NY 10038 PUBLIC RELATIONS 100500 2 9588336 9588336 LICENSE FEES 518210 439799 439799 SERVICE AGREEMENTS 900099 329742 329742 769541 17965 17965 10375842 769541 0 17965 1430889 1010934 303996 115959 6612576 5820599 468095 323882 192252 171807 12811 7634 1662593 1446443 141847 74303 559783 481304 53001 25478 13040 13040 38656 38656 293594 263421 30173 213500 213500 25509 21009 3054 1446 547029 481530 53309 12190 609617 524197 57982 27438 64452 44046 10633 9773 141131 84514 47612 9005 47617 40945 4529 2143 33233 28576 3161 1496 OTHER 28353 24381 2696 1276 RECRUITMENT & TRAINING 16051 13802 1527 722 EQUIPMENT 6853 5893 652 308 REGISTRATION FEES 2250 2250 1797 1545 171 81 12540775 10691486 1233905 615384 9557 12577 2042766 663016 1117682 1246367 671842 74865 209262 205690 229238 207098 29756 22140 216667 176667 2260467 1841954 6557999 4243276 320285 635715 93769 94776 2481879 2015652 2895933 2746143 X 1103140 -537560 2558926 2034693 3662066 1497133 6557999 4243276 -2164933 0 X X 0 1 X 1 0 X 7248863 16070003 10840875 11635628 9583336 55378705 7248863 16070003 10840875 11635628 9583336 55378705 33229823 22148882 1438 3190 2278 5049 17965 29920 14319 48050 27170 89539 55498164 2257963 0.39910 0.39630 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 14,319. 2020 AMOUNT: $ 48,050. 2021 AMOUNT: $ 27,170. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44910 29578 15332 16205 16205 0 168123 161315 6808 22140 SECURITY DEPOSIT 114000 OPERATING LEASE 1727954 1841954 OPERATING LEASE 2015652 2015652 X 10814019 438177 438177 10375842 0 10375842 12978952 438177 438177 12540775 0 12540775 PART X, LINE 2: THE FOUNDATION BELIEVES IT HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. 1 X X X X 1 0 0 0 0 0 0 1 0 MARTIN WHITTAKER CHIEF EXECUTIVE OFFICER 500000 0 200000 0 440 0 20018 0 52605 0 773063 0 0 0 ALISON OMENS PRESIDENT 270500 0 10000 0 440 0 11018 0 60234 0 352192 0 0 0 MOHAMMAD TAHIR KHAN CHIEF TECHNOLOGY OFFICER 262500 0 4000 0 440 0 10618 0 57949 0 335507 0 0 0 ROBERT MARSH CHIEF INFORMATION OFFICER (OUTGOING) 209223 0 0 0 54302 0 0 0 49989 0 313514 0 0 0 TERESA YUNG CHIEF FIN. AND OPERATIONS 262344 0 2000 0 420 0 10427 0 30443 0 305634 0 0 0 MICHELLE MULLINEAUX CHIEF COMM & MKTNG (OUTGOING) 255000 0 0 0 1440 0 9363 0 38609 0 304412 0 0 0 CAMBRIA ALLEN-RATZLAFF MANAGING DIR. & HEAD OF INVESTOR STR 235000 0 0 0 420 0 9417 0 55893 0 300730 0 0 0 TOLU LAWRENCE MANAGING DIR, PROGRAMS & PARTNERSHIP 214375 0 7500 0 400 0 8649 0 58393 0 289317 0 0 0 PART I, LINE 4A ROB MARSH - RECEIVED SEVERANCE TOTALING $53,914 IN 2023. AN ADDITIONAL $35,539 WAS ACCRUED IN 2023 BUT PAID IN 2024 (INCLUDES COBRA PAYMENTS AND DIRECT SEVERANCE PAYMENTS). MICHELLE MULLINEAUX - $1,000 WAS PAID AS AN INITIAL SEVERANCE PAYMENT IN 2023. AN ADDITIONAL $100,844 WAS ACCRUED IN 2023 BUT PAID IN 2024 (INCLUDES COBRA PAYMENTS AND DIRECT SEVERANCE PAYMENTS). PART I, LINE 7 THE BOARD OF DIRECTORS APPROVED THE BONUS FOR MARTIN WHITTAKER AND THE CEO APPROVED THE BONUSES FOR THE OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCIAL STATEMENTS OF JUST CAPITAL FOUNDATION, INC. (THE "FOUNDATION") WERE AUDITED BY AN INDEPENDENT ACCOUNTANT, AS REQUIRED BY THE APPLICABLE STATE LAW UNDER THE DIRECTION OF AN AUDIT COMMITTEE. THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED BY THE ORGANIZATION'S OFFICERS, PRESIDENT AND AUDIT COMMITTEE WHO ARE GIVEN AMPLE TIME AND OPPORTUNITY TO DISCUSS THEIR COMMENTS AND QUESTIONS WITH THE PREPARER, THE ORGANIZATION'S LEGAL COUNSEL AND, IF NEEDED, OTHER MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS. FINALLY THE FOUNDATION WILL PROVIDE A COPY OF THE FORM 990 TO THE BOARD OF DIRECTORS (EACH MEMBER RECEIVING THEIR INDIVIDUAL COPY), GIVING THE BOARD AN OPPORTUNITY TO PROVIDE INPUT AND ADDRESS ITS QUESTIONS OR COMMENTS BEFORE OR AT THE NEXT BOARD MEETING BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER, AND OTHER STAFF MEMBER AND COMMITTEE MEMBER WITH GOVERNING-BOARD-DELEGATED POWERS SHALL, BEFORE INITIAL ELECTION OR APPOINTMENT AND ANNUALLY THEREAFTER, SIGN A STATEMENT AND GIVE SUCH STATEMENT TO THE SECRETARY OF JUST CAPITAL FOUNDATION, INC., WHICH AFFIRMS THAT SUCH PERSON:(A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, (B) HAS READ AND UNDERSTANDS THE CONFLICT OF INTEREST POLICY, (C) HAS AGREED TO COMPLY WITH THE CONFLICT OF INTEREST POLICY, (D) UNDERSTANDS THAT THE FOUNDATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES (AND WILL ENDEAVOR TO FURTHER SUCH PURPOSES), AND (E) UNDERSTANDS THAT HE OR SHE MUST DISCLOSE ANY CONFLICT OF INTEREST; SPECIFICALLY, THE DIRECTOR, OFFICER, AND OTHER STAFF MEMBER, OR COMMITTEE MEMBER MUST IDENTIFY, TO THE BEST OF HIS OR HER KNOWLEDGE ANY ENTITY OF WHICH HE OR SHE IS AN OFFICER, DIRECTOR, TRUSTEE, MEMBER, OR EMPLOYEE AND WITH WHICH THE FOUNDATION HAS A RELATIONSHIP, AND ANY TRANSACTION IN WHICH THE FOUNDATION IS A PARTICIPANT. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE APPROVES THE COMPENSATION OF THE FOUNDATION'S CEO AFTER A REVIEW OF HIS QUALIFICATIONS, HIS PROPOSED EMPLOYMENT CONTRACTS, AND COMPARABILITY DATA FROM OTHER ORGANIZATIONS. A SUMMARY OF EACH REVIEW AND DECISION IS PROVIDED IN THE MINUTES OF THE BOARD MEETING AT WHICH (OR THE UNANIMOUS WRITTEN CONSENT IN LIEU OF MEETING IN WHICH) THE DECISION WAS MADE. FOR THE REMAINDER OF OFFICERS AND KEY EMPLOYEES, THE CEO DETERMINES COMPENSATION WITH CONSULTATION FROM THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO DONORS AND PROSPECTIVE DONORS UPON REQUEST. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART X, BALANCE SHEET, NET ASSETS: THE FOUNDATION INCURRED A LOSS OF $2,164,933 FOR THE YEAR ENDED DECEMBER 31, 2023, RESULTING IN AN ACCUMULATED UNRESTRICTED DEFICIT OF $537,562, RESTRICTED NET ASSETS OF $2,034,693 AND TOTAL NET ASSETS OF $1,497,130 AS OF DECEMBER 31, 2023. THE DEFICIT IN UNRESTRICTED FUNDS WAS PRIMARILY DUE TO A COMBINATION OF FACTORS, INCLUDING THE CONTRACTION OF THE PHILANTHROPIC MARKET AND UNEXPECTED NON-RENEWALS OF GRANTS AND REVENUE, ALONGSIDE OPERATIONAL EXPENDITURES THAT WERE LESS CONSERVATIVE THAN APPROPRIATE AT THE TIME. DESPITE THIS, THE FOUNDATION MAINTAINS A COMMITTED BASE OF DONORS WHO HAVE CONTINUED TO SUPPORT OPERATIONS IN 2024, THEREBY MITIGATING THE IMPACT OF THIS DEFICIT ON OPERATIONS. WHILE THE DEFICIT IN UNRESTRICTED FUNDS WAS MITIGATED BY UTILIZING POSITIVE NET ASSETS WITHIN RESTRICTED FUNDS, THE ORGANIZATION REMAINS COMMITTED TO RESTORING THE BALANCE THROUGH TARGETED FINANCIAL STRATEGIES. THROUGHOUT MID-2023 AND INTO 2024, THE FOUNDATION HAS ENACTED SEVERAL STRATEGIC MEASURES, INCLUDING A THOROUGH FINANCIAL ASSESSMENT, IMPLEMENTATION OF NEW CASH MANAGEMENT PROCESSES, ORGANIZATIONAL RESTRUCTURING, AND THE DELINEATION OF CLEAR RESPONSIBILITIES AMONG SENIOR STAFF, ALL AIMED AT BOLSTERING FUTURE FINANCIAL VIABILITY. TO THIS END, THE FOUNDATION HAS LAUNCHED A DIVERSIFIED FUNDING INITIATIVE WITH A FOCUS ON CORPORATE REVENUE. A KEY COMPONENT OF THIS STRATEGY IS THE EXPLORATION OF PROGRAMMATIC REVENUE OPPORTUNITIES, PARTICULARLY RELATED TO ENGAGEMENT AIMED AT FOSTERING CONNECTIONS AMONG INDUSTRY LEADERS WHICH LEVERAGE THE FOUNDATION'S DATA-DRIVEN INSIGHTS AND FACILITATE MEANINGFUL ACTIONS TOWARDS MORE JUST BUSINESS PRACTICE. THROUGH THESE CONCERTED EFFORTS, THE FOUNDATION IS CONFIDENT IN ITS ABILITY TO OVERCOME THE CURRENT FINANCIAL DEFICIT, BUILD A MORE SUSTAINABLE FINANCIAL FOUNDATION, AND CONTINUE ITS MISSION-DRIVEN WORK WITH INCREASED EFFECTIVENESS AND IMPACT.