Mercy Development Foundation

“The organization has one core member: cleveland clinic mercy hospital”

“The organization's member may elect members of the governing body.”

“Certain decisions of the governing body, such as approval of budgets, capital expenditures, liquidation, merger or dissolution of assets, and the modification of the articles of incorporation and code of regulations, must be approved by the board of the member organization.”

“The form 990 is reviewed by experienced and qualified members of the finance division tax department as well as the chief financial officer (cfo). The return is then sent to a paid preparer who conducts an in depth review of the return. In addition, the entire return is also reviewed by the members of the board of trustees. The return is made available through a web portal that they can access before it is filed with the irs. Any questions or concerns that they have are sent to either the president or cfo of the hospital.”

“Mercy development foundation initiated operations in 2011. As an organization established exclusively for the support and benefit of cleveland clinic mercy hospital, the foundation adheres to the administrative policies of cleveland clinic mercy hospital, including, but not limited to: corporate compliance policies; disclosure of conflicts of interest; document retention and destruction; human resources; as well as financial management and reporting.”

“The foundation adheres to the administrative policies and procedures of cleveland clinic mercy hospital and follows their annual compensation review by an external source which is then reviewed by the board for approval.”

“The form 990 and 1023 are available to the public upon request.”

“The governing documents, conflict of interest policy and financial statements are available to the public upon request.”

“Mercy development foundation is organized exclusively for the benefit of mercy medical center, inc. Its purpose is to (1) solicit funds and gifts from individuals, businesses, corporations, organizations, foundations and the community or goverment agencies, (2) receive, receipt, record and acknowledge all gifts, (3) appropriately manage and invest these funds, and (4) disburse these funds in the best interest of the hospital. Mercy medical center, inc. Is the sole member of mercy development foundation. On february 1, 2021, the cleveland clinic foundation became the sole member of mercy medical center, inc. Pursuant to the terms of a member substitution agreement with the sisters of charity of st. Augustine health system, the prior sole member of mercy medical center, inc. On february 1, 2021, mercy medical center, inc. Changed its name to cleveland clinic mercy hospital.”

“As a catholic healthcare organization, the mission of cleveland clinic mercy hospital and the devlopment foundation are the same; to continue christ's healing ministry by providing quality, compassionate, accessible and affordable care to the whole person - regardless of ability to pay.”

“Donations - temporarily restricted 741700. Donations - dental endowment & charitable dental funds 13000. Investment income - dental endowment & charitable dental funds 29029. Disbursements - dental endowment & charitable dental funds -27000. Disbursement - cancer center grants -81236. Disbursements - temporarily restricted -22806. Disbursements - cleveland clinic mercy hospital -191314.”

“A related tax-exempt organization's board, cleveland clinic mercy hospital, assumes responsibility for oversight of the audit and selection of the independent accountant. This process has not changed from prior year.”