Mercy Housing West

“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 west, has authority over mercy housing west 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 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.”

“All the officers and directors, except amy bayley, are paid by mercy housing, inc. For their services. Mercy housing, inc. Is a related organization and these individuals are employees of mercy housing, inc. Sister amy bayley, rsm, serves as an officer and performs services for mercy housing inc. Mercy housing, inc. And the sisters of mercy of the americas west midwest have entered into a contract whereby sister bayley has been assigned to mercy housing, inc. To perform services and provide executive leadership for mercy housing, inc. And its subsidiaries. Sister bayley is a member of a eligious community and has taken a vow of poverty and therefore does not receive any personal income. Sister bayley is not an employee of mercy housing, inc. Or mercy housing west. 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 bayley. The sisters of mercy of the americas west midwest are responsible for providing the living expenses of sister bayley. For 2017 mercy housing, inc. Paid $105,863 for the annual stipend fee and benefits equivalent for sister bayley.”

“Responsibility for selection of an independent accountant and oversight of the annual audit is reserved by the mercy housing, inc. Board of trustees. Mercy housing, inc. Is the sole member of mercy housing west.”

“Other decrease in net assets consists of $1,054,929 adjustment in investment accounts.”