Mercy Development Foundation

“The organization has one corporate member: mercy medical center”

“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.”

“After form 990 is reviewed internally, it is submitted for review to our tax advisor. They review for completeness and communicate any concerns that they identify within the documents and worksheets of the tax return. Items identified are reviewed by staff and any needed corrections are made. The return is then provided to the cfo for review and approval. The return is made available to the full board through a web portal that they access before it is filed with the irs. Any questions or concerns that they have are sent to either the president or chief financial officer of the medical center.”

“Mercy development foundation inititated operations in 2011. As an organization established exclusively for the support and benefit of mercy medical center, the foundation adheres to the administrative policies of mercy medical center, 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 mercy medical center 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.”

“Investment income net of fees - endowment fund 26,912. Asset transfer to mercy medical center -398,848.”

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