Mercy Circle

“The following reserved powers are held by our sponsors/corporate members. (a) to approve any new or revision of philosophy, purpose, mission, vision, values statement or strategic plan; (b) to approve amendments to the articles of incorporation and bylaws of mercy circle; provided that the corporate members may initiate and implement the amendment of the bylaws of mercy circle, with or without the recommendation of or any action by the board of directors, if the corporate members so elect in their sole discretion; (c) to review and consider ongoing assessment and accountability reporting (an "accountability report") to ensure mercy circle's fidelity to the mission, the charism, core values and tradition of the sisters of mercy of the americas. Mercy circle shall complete the accountability report, as required and modified from time to time by the corporate members, and submit the accountability report to corporate members or their designate in accordance with the requirements of such accountability report. The accountability report may include such matters as required from mercy circle by the corporate members or their designate, including, but not limited to, mission effectiveness, fidelity to mission and financial reporting; (d) to approve the appointment and removal of any director or all directors of mercy circle with or without cause; provided that, the corporate members may initiate and implement the removal of any director or all of the directors of mercy circle, with or without cause and with or without the recommendation of or any action by the board of directors, in accordance with the notice and voting requirements set forth in the act; (e) to approve the appointment of the executive director, and the candidate(s) for subsequent executive directors; (f) to approve the removal of the executive director, with or without cause; (g) to approve the designation of the fiscal year of mercy circle; (h) to approve any and all budgeted and unbudgeted capital expenditures of greater than or equal to one million dollars upon the recommendation of the board of directors; (i) to approve any acquisition, expansion, renovation or improvement of a physical asset of mercy circle of greater than or equal to one million dollars; (j) to approve any sale, transfer, gift, lease or encumbrance of real property of mercy circle involving an amount greater than or equal to $500,000; (k) to approve any long term loans with a duration of three (3) or more years from the date the debt is incurred and/or that involve an amount greater than or equal to $500,000; (l) to approve any sale, merger, consolidation, dissolution, name change and any acquisitions, formations or dissolutions of subsidiary corporations or affiliates; (m) to approve any perpetual gift or gifts that obligate the organization for 10 years or more; and (n) to approve the distribution of assets upon any liquidation and dissolution.”

“The 990 is distributed to the board and approved before filing.”

“Every director and officer shall be required, as a condition of the office, to fully disclose at least annually all personal and professional interests that do or might result in a conflict of interest in a manner and form to be prescribed by the board of directors.”

“Hr conducts a review of competitve rate surveys, nationally and statewide. Consultation with corporate office regarding rates for similar positions also occurs.”

“Governing documents and conflict of interest policy are not made public, however, the financial statements are made public via the 990.”

“Beginning of year net assets 12,794,222. Restricted contributions 18,700.”

“Mercy circle is tax exempt from income tax as a religious organization. Mercy circle is filing form 990 for the first time because its revenue is no longer predominantly earned by serving the religious. Since mercy circle did not have a filing requirement for the year ended june 30, 2022, no prior year balances have been disclosed.”