Mercy Housing Southeast

“Mercy housing, inc., a nebraska nonprofit corporation, is the sole member and is exempt from federal income tax as an organization described in section 501(c)(3) of the internal revenue code of 1986.”

“The board of trustees of mercy housing, inc., as sole member of mercy housing southeast, has authority over mercy housing southeast in various aspects of operations and management which are set forth in the reserved rights of the bylaws of the subsidiary corporation. The reserved rights held by the mercy housing board of trustees, many of which have been further delegated to the president and ceo of mercy housing, inc., include approval of the following activities: revisions to articles and bylaws; mergers and acquisitions; establishment of new entities; pledging, mortgaging or disposing of all or substantially all assets; obligations of new operating and mortgage debt; and, appointment or removal of governing board members and officers.”

“SAME AS LINE 7A”

“Form 990 is presented to all board members and comments and questions are addressed prior to the form 990 being filed.”

“The audit committee of mercy housing, inc. Reviews annually the conflict of interest disclosures and determines whether any action is required.”

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

“Consulting fees: program service expenses 18,575. Management and general expenses 9,180. Fundraising expenses 0. Total expenses 27,755. Management services: program service expenses 2,112,481. Management and general expenses 0. Fundraising expenses 299,443. Total expenses 2,411,924.”

“Deconsolidation of mhse mauldin center apartments, llc -6,081,615.”

“Election under internal revenue code section 168(h)(6)(f)(ii) not to be treated as a tax exempt entity mercy southeast 18 heritage gp, llc (ein 99-2842250) located at 1600 broadway, suite 2000, denver, co 80202, hereby elects under internal revenue code section 168(h)(6)(f)(ii) not to be treated as a tax exempt entity for purposes of applying the rules found in i.r.c. Section 168(h)(6). This election is available to be made by an entity that is not tax-exempt, but which is controlled 50% or more by a tax exempt entity. Mercy southeast 18 heritage gp, llc qualifies to make such an election, as it is owned 100% by mercy housing southeast, a tax-exempt entity. The purpose of this election is to treat the entity's allocable share of depreciable property owned by mercy southeast 18 heritage gp, llc as property which is not tax-exempt use property. Mercy southeast 18 heritage gp, llc acknowledges that foregoing election is irrevocable and is binding on all tax-exempt entities holding ownership in mercy southeast 18 heritage gp, llc”

“Election under internal revenue code section 168(h)(6)(f)(ii) not to be treated as a tax exempt entity mhse belvedere mm, llc (ein 87-0922791) located at 1600 broadway, suite 2000, denver, co 80202, hereby elects under internal revenue code section 168(h)(6)(f)(ii) not to be treated as a tax-exempt entity for purposes of applying the rules found in i.r.c. Section 168(h)(6). This election is available to be made by an entity that is not tax-exempt, but which is controlled 50% or more by a tax exempt entity. Mhse belvedere mm, llc qualifies to make such an election, as it is owned 100% by mercy housing southeast, a tax-exempt entity. The purpose of this election is to treat the entity's allocable share of depreciable property owned by mhse belvedere mm, llc as property which is not tax-exempt use property. Mhse belvedere mm, llc acknowledges that foregoing election is irrevocable and is binding on all tax-exempt entities holding ownership in mhse belvedere mm, llc.”