Mercy Foundation

“A member of the foundation's board of directors is employed by, and holds ownership in, firms that manage certain investments and charitable trust accounts of the foundation. Total managed funds were $7,664,399 and management fees earned by the investment firms for those services totaled $4,358 for the year ended june 30, 2021.”

“The members consist of five individuals (three are members of and appointed by the sisters of mercy and two are appointed by dignity health).”

“The corporate members may appoint and remove each member of the board of trustees.”

“The corporate members of the foundation have reserved rights. Their reserved rights are as follows: i. Approve the mission, philosophy, long-range goals, strategic plans and major standards of the foundation. Ii. Appoint and remove each member of the board of trustees. Iii. Determine the number of members of the board of trustees. Iv. Approve the appointment of the chair and secretary of the foundation. V. Appoint and/or remove the foundation president. Vi. Approve the capital and operating budgets of the foundation. Vii. Receive the annual auditors' report as to the foundation. Viii. Approve the selection of the auditors and general legal counsel for the foundation. Ix. Approve any merger, consolidation or dissolution of the foundation. X. Approve the establishment of any new constituent foundation or any subsidiary corporation or operating corporation of the foundation. Xi. Approve any borrowing of money or incurring of indebtedness by the foundation. Xii. Approve the purchase of real estate assets or any interest therein. Xiii. Approve the expenditures or transfers of assets to a person or organization outside chw and/or the mercy community where such expenditures or transfer exceeds 10% of the assets of the foundation's balance sheet, other than transfers to a beneficiary pursuant to a designated "restricted" gift.”

“The mercy foundation finance committee will review the 990 before submission. Then the 990 will be made available to the board.”

“Each year a new conflict of interest statement is signed by each of the board of trustees. This process is monitored by staff. Areas where a conflict may arise are in activities such as supplies of goods and services, entities with which mercy is dealing or plans to deal in connection with the lease, purchase, sale or gift of real or personal property, other foundations, hospitals, home health, donors or others giving support to mercy, patients, residents and others receiving care and services, third party payers of hospital or other health care benefits, banks or other lending or savings or trust institutions, insurance companies, investment companies, or financial planning institutions and other entities which may affect the operation of mercy foundation. The nature of conflicting interest that might reasonably be perceived by others to affect the judgement or conduct of the individual, such as, but not limited to: owning stock or other proprietary interests, holding debt or debt securities, holding office, serving on the board of directors, participating in management or being otherwise employed or formerly employed, receiving remunerations for services with respect to individual transactions, receiving gifts or unsecured loans, obtaining or holding an interest in real estate, securities or other property which mercy is considering buying, leasing or selling or disclosing or using information relating to mercy's business or operations for the personal profit or advantages of the individual. The following conflicts of interest are apparent and absolutely prohibited: loans, gifts, gratuities and entertainment and information obtained through association with mercy.”

“The president's salary and performance evaluation is performed each year by the board of directors. Compensation is determined by dignity health. This process is undertaken annually. Other key employees are determined by management and salary is approved by hr.”

“Mercy foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in value of crt asset 178,922.”

“The organization has a committee that assumes responsibility over the financial statement audit and the process has not changed from the prior year.”