2022-11-14T15:29:45-06:00 2021-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2021-01-01 041231965 JEANNE D'ARC CREDIT UNION JEAN 9784525001 1 TREMONT PLACE LOWELL MA 01854 MARK S COCHRAN PRESIDENT/CEO 9784525001 2022-11-14 1 MARK COCHRAN 000003258 HARRY A KALAJIAN JR CPA P00464296 6174399700 2022-11-14 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MARK S COCHRAN 1 TREMONT PLACE LOWELL MA 01854 60758190 0 X WWW.JDCU.COM X 1912 MA JEANNE D'ARC CREDIT UNION IS A FULL SERVICE, MEMBER-OWNED COMMUNITY BASED CREDIT UNION. 9 8 375 146 211281 0 0 0 46594601 41206001 4228336 3925488 11803953 14162352 62626890 59293841 421820 616219 0 0 18330036 21761963 0 0 0 37419402 29986098 56171258 52364280 6455632 6929561 1653319791 1792528408 1518823549 1651296813 134496242 141231595 SEE SCHEDULE O 0 0 JEANNE D'ARC CREDIT UNION IS THE THIRD OLDEST CREDIT UNION IN THE COUNTRY FOUNDED IN LOWELL MASSACHUSETTS IN 1912. IT CURRENTLY HAS 92,522 MEMBERS WHO HAVE $1,566 MILLION IN DEPOSIT ACCOUNTS & NET LOANS OUTSTANDING OF $1,157 MILLION AS OF DECEMBER 31, 2021. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 127430 0 1 375 1 1 1 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JOSEPH PRINCI II 9783234798 JEANNE DARC CU 1 TREMONT PLACE LOWELL MA 01854 JOHN CHEMALY CHARIMAN 1.00 X 7051 0 0 NAOMI PRENDERGAST DIRECTOR 1.00 X 7051 0 0 SOVANNA POUV DIRECTOR 1.00 X 2991 0 0 SUSAN GREEN DIRECTOR 1.00 X 7135 0 0 MARK DIONNE DIRECTOR 1.00 X 126 0 0 HENRI MARCHAND TREASURER/DIRECTOR 1.00 X 7051 0 0 WENDY ESTRELLA DIRECTOR 1.00 X 7009 0 0 WILLIAM SOUCY DIRECTOR 1.00 X 7051 0 0 JOANNE YESTRAMSKI DIRECTOR 1.00 X 7051 0 0 ELLEN MURPHY MEEHAN VICE CHAIR 1.00 X 7135 0 0 MARK COCHRAN PRESIDENT/CEO/DIRECTOR 40.00 X X 915761 0 247487 BRIAN SOUSA SENIOR VICE PRESIDENT CLO 40.00 X 416204 0 94120 JOSEPH M PRINCI II SVP CFO 40.00 X 342889 0 85693 CAROLYN PELLETIER SENIOR VICE PRESIDENT CIO 40.00 X 271290 0 45171 MARK O'NEIL SENIOR VICE PRESIDENT CAO 40.00 X 271000 0 69698 MICHAEL P DUBUQUE SVP CMEO 40.00 X 411669 0 91974 ROBIN LORENZEN SVP CMO 40.00 X 210188 0 19532 GERARD L STEVENS SENIOR LOAN OFFICER 40.00 X 586164 0 10375 JAMES HIRBOUR SENIOR LOAN OFFICER 40.00 X 870183 0 34472 THOMAS KING SENIOR LOAN OFFICER 40.00 X 282437 0 11550 KEITH M MICAVICH SENIOR LOAN OFFICER 40.00 X 457730 0 31756 JASON E DUBOIS MORTGAGE LOAN ORIGINATOR M 40.00 X 730890 0 33515 5826056 0 775343 32 0 1 0 FISERV INC PO BOX 934057 ATLANTA GA 31193 BANKING SOFTWARE 2408263 ALKAMI PO BOX 670397 DALLAS TX 75267 SECURITY SERVICES 1234511 FIDELITY INFO SERVICES PO BOX 4535 CAROL STREAM IL 60197 BANKING SOFTWARE 384361 NEXT STEP 6000 METROWEST BOULEVARD SUITE 107 ORLANDA FL 32835 BANKING TECHNOLOGY CONSULTING 355967 RING CENTRAL 20 DAVIS DRIVE BELMONT CA 94002 SOFTWARE 238605 44 INTEREST INCOME 522100 41206001 41206001 41206001 1548359 1548359 3841478 1464349 2377129 2377129 2377129 FEE INCOME 522100 14128301 13951071 177230 PARTNERSHIP INVESTMENT 523000 34051 34051 14162352 59293841 55157072 211281 3925488 599219 17000 2839000 14124079 1231834 2186362 1380688 541120 682139 1493094 512472 2009978 2432308 2979000 78019 9063084 1466984 211377 DEBIT/CREDIT/ATM CHARGE 4439666 EQUIPMENT MAINTENANCE 1276047 PROVISION FOR LOAN LOSS 1076525 MISCELLANEOUS EXPENSES 1034851 689434 52364280 6420686 6708226 247784242 290929353 1197187794 1156684801 1653021 1135846 40603835 21788236 16799614 18815599 117816312 276069084 17849200 9067900 47808922 33117599 1653319791 1792528408 13943142 13827725 40000000 44967280 1464880407 1592501808 1518823549 1651296813 X 0 0 16000000 16000000 118496242 125231595 134496242 141231595 1653319791 1792528408 X 6929561 -158000 -36208 X X 0 1 X 1 0 4510661 4510661 9552810 3270586 6282224 6731062 4825734 1905328 12894078 10750932 2143146 6915224 2940984 3974240 18815599 DEPOSITS 1565578193 DAILY SETTLEMENT 1923615 SUBORDINATED DEBT 25000000 1592501808 X 59135841 -158000 -158000 59293841 0 59293841 52364280 0 52364280 0 52364280 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. AT DECEMBER 31, 2021 AND 2020 THE CREDIT UNION HAS NOT ACCRUED FOR ANY UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 0 BOYS & GIRLS CLUB OF GREATER LOWELL 657 MIDDLESEX ST LOWELL MA 01851 042104396 501(C)(3) 20000 0 CHARITABLE CONTRIBUTIONS BOYS & GIRLS CLUB OF GREATER NASHUA 1 POSITIVE PLACE NASHUA NH 03060 237058376 501(C)(3) 7000 0 CHARITABLE CONTRIBUTIONS CATIE'S CLOSET 19 SCHOOL ST DRACUT MA 01826 272531953 501(C)(3) 20000 0 CHARITABLE CONTRIBUTIONS D'YOUVILLE LIFE & WELLNESS COMMUNITY FOUNDATION 981 BARNUM AVE LOWELL MA 01854 274675379 501(C)(3) 10000 0 CHARITABLE CONTRIBUTIONS EASCORP 35 CORPORATE DRIVE SUITE 300 BURLINGTON MA 01803 042658574 10000 0 GENERAL DONATIONS GIRLS INC OF GREATER LOWELL 20 WORTHEN ST LOWELL MA 01852 042104401 501(C)(3) 10000 0 CHARITABLE CONTRIBUTIONS GREATER LOWELL COMMUNITY FOUNDATION 100 MERRIMACK ST SUITE 202 LOWELL MA 01852 043401997 501(C)(3) 20000 0 CHARITABLE CONTRIBUTIONS LAWRENCE PARTNERSHIP 420 COMMON STREET 3RD FLOOR LAWRENCE MA 01840 471019447 501(C)(3) 10000 0 CHARITABLE CONTRIBUTIONS LOWELL COMMUNITY HEALTH CENTER 161 JACKSON ST LOWELL MA 01852 042881348 501(C)(3) 15000 0 CHARITABLE CONTRIBUTIONS LOWELL GENERAL HOSPITAL 295 VARNUM ST LOWELL MA 01854 042103590 501(C)(3) 30449 0 CHARITABLE CONTRIBUTIONS LOWELL HOUSE 101 JACKSON ST 4TH FLOOR LOWELL MA 01852 237110106 501(C)(3) 10000 0 CHARITABLE CONTRIBUTIONS LOWELL MEMORIAL AUDITORIUM 50 EAST MERRIMACK ST LOWELL MA 01852 50000 0 GENERAL DONATIONS LOWELL PLAN 660 SUFFOLK ST SUITE 120 LOWELL MA 01854 042693109 501(C)(3) 20000 0 CHARITABLE CONTRIBUTIONS LOWELL SUMMER MUSIC SERIES 67 KIRK ST LOWELL MA 01852 042578293 501(C)(3) 18000 0 CHARITABLE CONTRIBUTIONS NECC FOUNDATION INC 100 ELLIOT ST HAVERHILL MA 01830 042759634 501(C)(3) 10000 0 CHARITABLE CONTRIBUTIONS WE SHARE A COMMON THREAD FOUNDATION INC 1 TREMONT PLACE LOWELL MA 01854 452916988 501(C)(3) 293770 0 CHARITABLE CONTRIBUTIONS 14 2 COLLEGE SCHOLARSHIPS 27 17000 X X 1 1 X X X X X X 0 1 0 MARK COCHRAN PRESIDENT/CEO/DIRECTOR 754876 0 147559 0 13326 0 233534 0 13953 0 1163248 0 136512 0 JAMES HIRBOUR SENIOR LOAN OFFICER 18233 0 851717 0 233 0 10830 0 23642 0 904655 0 0 0 JASON E DUBOIS MORTGAGE LOAN ORIGINATOR M 24311 0 706268 0 311 0 11190 0 22325 0 764405 0 0 0 GERARD L STEVENS SENIOR LOAN OFFICER 12 0 586140 0 12 0 8984 0 1391 0 596539 0 0 0 BRIAN SOUSA SENIOR VICE PRESIDENT CLO 348165 0 59491 0 8548 0 70478 0 23642 0 510324 0 0 0 MICHAEL P DUBUQUE SVP CMEO 344355 0 59266 0 8048 0 69649 0 22325 0 503643 0 0 0 KEITH M MICAVICH SENIOR LOAN OFFICER 24311 0 433108 0 311 0 10821 0 20935 0 489486 0 0 0 JOSEPH M PRINCI II SVP CFO 291092 0 49749 0 2048 0 62051 0 23642 0 428582 0 0 0 MARK O'NEIL SENIOR VICE PRESIDENT CAO 224311 0 38141 0 8548 0 46056 0 23642 0 340698 0 0 0 CAROLYN PELLETIER SENIOR VICE PRESIDENT CIO 212413 0 56829 0 2048 0 37255 0 7916 0 316461 0 0 0 THOMAS KING SENIOR LOAN OFFICER 30169 0 252099 0 169 0 11550 0 0 0 293987 0 0 0 ROBIN LORENZEN SVP CMO 190476 0 17708 0 2004 0 19532 0 0 0 229720 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS SPOUSES OR GUESTS ARE WELCOME TO ACCOMPANY DIRECTORS, BUT IS LIMITED TO NO MORE THAN TWO TIMES PER CALENDAR YEAR. SPOUSE OR GUEST EXPENSES WHICH ARE REIMBURSABLE INCLUDE, BUT ARE NOT LIMITED TO AIR TRAVEL, MEALS, AND ORGANIZED ENTERTAINMENT SUCH AS EVENT DINNERS, GOLF OUTINGS OR OTHER CONFERENCE RELATED OUTINGS. SPOUSE AND GUEST TRAVEL EXPENSES MAY NOT EXCEED $2,000 PER YEAR. SPOUSE OR GUEST EXPENSES WHICH ARE NOT REIMBURSABLE INCLUDE, BUT ARE NOT LIMITED TO SEPARATE LODGING OR NON-CONFERENCE RELATED PERSONAL EXPENSES. COUNTRY CLUB MEMBERSHIPS THE CREDIT UNION PROVIDES COUNTRY CLUB MEMBERSHIPS TO SOME EXECUTIVE OFFICERS FOR BUSINESS DEVELPMENT PURPOSES. PART I, LINE 4B NONQUALIFIED RETIREMENT PLAN THE CREDIT UNION PROVIDES A NON-ELECTIVE EMPLOYER CONTRIBUTION PLAN COVERING ALL OF ITS EMPLOYEES WHO ARE ELIGIBLE AS TO AGE AND LENGTH OF SERVICE. THE PLAN PROVIDES FOR A DISCRETIONARY NON-ELECTIVE CONTRIBUTION EQUAL TO A PERCENTAGE AS ESTABLISHED BY THE BOARD OF DIRECTORS OF EACH PARTICIPANT'S TOTAL COMPENSATION, PLUS 5.7% OF ELIGIBLE COMPENSATION IN EXCESS OF THE SOCIAL SECURITY TAXABLE WAGE BASE, UP TO THE APPLICABLE IRS LIMITATIONS. THE CREDIT UNION'S CONTRIBUTIONS TO THE PLAN APPROXIMATED $822,000 AND $605,000 FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, RESPECTIVELY. DURING THE TAX YEAR, THE CREDIT UNION MADE CONTRIBUTIONS TO THE FOLLOWING INDIVIDUALS: MARK COCHRAN $198,287 MICHAEL P. DUBUQUE $34,794 MARK O'NEIL $22,794 CAROLYN PELLITIER $21,623 JOSEPH M. PRINCI II $29,729 BRIAN SOUSA $35,231 SCHEDULE J, PART II, COLUMN F: MARK S. COCHRAN RECEIVED $136,512 SERP 457(F) DISTRIBUTION IN 2021, WHICH REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS. WILLIAM SOUCY DIRECTOR, OWNER OF CU'S BUILDING 1295000 RENTAL 0 SCHEDULE L PART II - OFFICER & DIRECTOR LOANS SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING WITH THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE NORMAL COURSE OF BUSINESS OF THE CREDIT UNION WITH THE SAME TERMS AND CONDITIONS AVAILABLE TO ALL MEMBERS. AS PER INSTRUCTIONS FOR SCHEDULE L, THESE LOANS ARE NOT TO BE LISTED ON SCHEDULE L. SCHEDULE L PART IV - RELATED PARTY TRANSACTIONS TREMONT YARD LLC, SINGLE MEMBER LLC OWNED BY DIRECTOR SOUCY OWNS THE BUILDING WHICH THE CREDIT UNION LEASES AND HOUSES ITS ADMINISTRATIVE AND BACK-OFFICE STAFF. DIRECTOR SOUCY EXCUSED HIMSELF FOR ALL BOARD OF DIRECTOR DISCUSSIONS REGARDING THE DECISION TO ENTER INTO THE LEASE FOR THE BUILDING. ADDITIONALLY, A THIRD-PARTY COMMERCIAL REAL ESTATE FIRM, NATIONAL COMMERCIAL BROKERS, INC. CONDUCTED A MARKET SURVEY FOR THE CREDIT UNION TO ENSURE THE CREDIT UNION WAS PAYING A FAIR MARKET LEASE RATE AND OTHER PERTINENT CONDITIONS. FINALLY, THE OFFICE OF THE COMMISSIONER OF BANKS OF MASSACHUSETTS REVIEWED THE BUSINESS TRANSACTION AND HAD NO NEGATIVE COMMENTS ON THE TRANSACTION AND APPROVED THE EXPENDITURE OF FUNDS. FORM 990, PART VI, SECTION A, LINE 6 JEANNE D'ARC CREDIT UNION MEMBERSHIP IS AVAILABLE TO ANYONE WHO LIVES, WORKS, OR ATTENDS SCHOOL IN MIDDLESEX OR ESSEX COUNTIES, THE CITIES OR TOWNS OF FITCHBURG, LEOMINSTER, HARVARD, LUNENBURG OR LANCASTER, OR THE NEW HAMPSHIRE COUNTIES OF HILLSBOROUGH OR ROCKINGHAM. THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ANY BUSINESS BROUGHT BEFORE THEM AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7A JEANNE D'ARC CREDIT UNION MEMBERSHIP IS AVAILABLE TO ANYONE WHO LIVES, WORKS, OR ATTENDS SCHOOL IN MIDDLESEX OR ESSEX COUNTIES, THE CITIES OR TOWNS OF FITCHBURG, LEOMINSTER, HARVARD, LUNENBURG OR LANCASTER, OR THE NEW HAMPSHIRE COUNTIES OF HILLSBOROUGH OR ROCKINGHAM. THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ANY BUSINESS BROUGHT BEFORE THEM AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B JEANNE D'ARC CREDIT UNION MEMBERSHIP IS AVAILABLE TO ANYONE WHO LIVES, WORKS, OR ATTENDS SCHOOL IN MIDDLESEX OR ESSEX COUNTIES, THE CITIES OR TOWNS OF FITCHBURG, LEOMINSTER, HARVARD, LUNENBURG OR LANCASTER, OR THE NEW HAMPSHIRE COUNTIES OF HILLSBOROUGH OR ROCKINGHAM. THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ANY BUSINESS BROUGHT BEFORE THEM AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B A FULL COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE CODE OF ETHICS, WHICH INCORPORATES THE CONFLICT OF INTEREST POLICY, IS UPDATED AND RATIFIED BY THE BOARD OF DIRECTORS. THE CODE OF ETHICS PERTAINS TO EMPLOYEES AS WELL AS THE BOARD OF DIRECTORS. ANNUALLY, ALL EMPLOYEES AND BOARD MEMBERS SIGN AN ACKNOWLEDGEMENT THAT THEY HAVE RECEIVED AND READ THE CODE OF ETHICS. FURTHER, ALL EMPLOYEES AND BOARD MEMBERS MUST IDENTIFY, IN WRITING, ALL DEPOSITS AND LOAN ACCOUNTS IN WHICH THEY HAVE A RELATED INTEREST. LOANS GRANTED TO SENIOR MANAGEMENT, DIRECTORS, OR THEIR RELATED PARTIES MUST BE APPROVED BY THE BOARD. IF THE LOAN IS FOR A BOARD MEMBER OR HIS/HER RELATED INTEREST, THE BOARD MEMBER IS RECUSED FROM THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 BOARD REVIEW OF OFFICER COMPENSATION THE CREDIT UNION'S BOARD OF DIRECTORS ASSIGNS RESPONSIBILITY TO THE BOARD'S PERSONNEL COMMITTEE FOR THE PREPARATION OF A VERBAL PERFORMANCE EVALUATION OF THE CREDIT UNION'S PRESIDENT. THE PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT DIRECTORS. THE PERSONNEL COMMITTEE WILL THEN PRESENT THE WRITTEN EVALUATION TO THE FULL BOARD, ALONG WITH A RECOMMENDATION FOR COMPENSATION. THE COMPENSATION LEVEL IS BASED ON A COMBINATION OF THE PRESIDENT'S PERCEIVED VALUE TO THE CREDIT UNION AND JOB PERFORMANCE. BASED ON THE PERSONNEL COMMITTEE'S RECOMMENDATION, THE FULL BOARD APPROVES THE PRESIDENT'S COMPENSATION. FOR MEMBERS OF SENIOR MANAGEMENT, WRITTEN PERFORMANCE EVALUATIONS ARE PREPARED BY THE PRESIDENT. THE BOARD'S CHAIRMAN APPROVES TOTAL COMPENSATION FOR ALL OFFICERS. NO OTHER BOARD DIRECTORS ARE INVOLVED IN THE COMPENSATION DISCUSSIONS FOR SENIOR MANAGEMENT. COMPENSATION IS BASED ON THE VALUE TO THE CREDIT UNION AND JOB PERFORMANCE. THE CREDIT UNION ALSO UTILIZED THE THIRD PARTY INDEPENDENT CONSULTANT TO REVIEW AND ANALYZE THE OFFICERS' COMPENSATION FOR 2021. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S BYLAWS, CODE OF ETHICS, CONFLICT OF INTEREST POLICY, ETC. ARE AVAILABLE FOR INSPECTION AT THE CREDIT UNION'S ANNUAL MEETING OR AVAILABLE AT ANYTIME UPON A MEMBER'S REQUEST. THE CREDIT UNION'S PRIVACY POLICY IS MAILED TO EACH MEMBER ANNUALLY. WHEN THERE IS A CHANGE TO OUR POLICY, A STATEMENT OF CHANGE IS MADE ANNUALLY ON ACCOUNT STATEMENTS SENT TO MEMBERS. THE CREDIT UNION'S CALL REPORT (5300) DATA IS AVAILABLE TO THE GENERAL PUBLIC VIA THE NCUA'S WEBSITE. FORM 990, PART XI, LINE 9: FAS 115 LOSSES -36,208. FORM 990, PART XII, LINE 2C THE JEANNE D'ARC CREDIT UNION STATEMENTS ARE AUDITED BY CROWE HORWATH, LLP, A CERTIFIED PUBLIC ACCOUNTING FIRM. THE FINANCIAL STATEMENT YEAR END IS DECEMBER 31ST. THE JEANNE D'ARC CREDIT UNION BY-LAWS REQUIRE AN AUDIT COMMITTEE MADE UP OF BOARD MEMBERS TO REVIEW THE AUDITED FINANCIAL STATEMENTS AND ASSURE THAT ANY FINDINGS BY THE AUDITORS ARE IMPLEMENTED. WE SHARE A COMMON THREAD FOUNDATION INC 1 TREMONT PLACE LOWELL MA 01854 452916988 GRANT MAKING MA 501(C)(3) PF JEANN D'ARC CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WE SHARE A COMMON THREAD B 293770 FMV