Mercy Properties California

“Mercy housing california, a california 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., has authority over mercy properties california in various aspects of operations and management. The reserved rights held by the mercy housing board of trustees, which may be 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 7 A EXPLANATION”

“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.”

“Periodically the executive committee within the mercy housing, inc. Board of trustees will review executive salaries to ensure competitiveness with external markets and for internal equity in relation to general employee wages and benefits, individual and organizational performance, and the financial resources of the organization”

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

“Sister amy bayley, rsm, serves as an assistant secretary of mercy properties california, which is the sole member of mercy properties california. Mercy housing, inc. And the sisters of mercy of the americas west midwest have entered into a contract whereby sister amy bayley has been assigned to mercy housing, inc. To perform services and provide executive leadership for mercy housing, inc. And its subsidiaries. Sister amy bayley is a member of a religious community and has taken a vow of poverty and therefore does not receive any personal income. Sister amy poverty and therefore does not receive any personal income. Sister amy bayley is not an employee of mercy housing, inc. Mercy housing, inc. Makes payments directly to the sisters of mercy of the americas west midwest for monthly stipend payments and benefits relating to the services performed by sister amy bayley. The sisters of mercy of the americas west midwest are responsible for providing the living expenses of sister amy bayley. For 2018 mercy housing, inc. Paid $111,812 for the annual stipend fee and benefits equivalent.”

“The organization's financial statements are audited in accordance with generally accepted accounting principles. The audited financial statements are reported within the consolidated financial statements and supplemental information of mercy housing, inc. The organization received federal loans or awards and accordingly was included in the single audit act and omb circular a-133 audit as reported within the consolidated financial statements and supplemental information of mercy housing, inc.”