Mercy Oaks Village

“The corporation entered into a management agreement with mercy housing management group ("mhm"), an affiliate of the corporation. The current management agreement provides for a management fee of 14.37 percent of the gross residential income collected, capped at $64 per unit per month. Mhm receives $4 per unit per month as part of the better buildings challenge. For the year ended december 31, 2024, management fees of $48,384 were incurred by the corporation.”

“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., as sole member of mercy housing california (the sole member of mercy oaks village), has authority over mercy oaks village 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; establishmentb 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”

“Each member is given the opportunity to review the return before it is 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.”

“Sister amy bayley, rsm, serves as an officer of mercy oaks village andperforms services for mercy housing, inc. Mercy housing, inc. And the sisters of mercy of the americas west midwest have entered into a contract whereby amy bayley has been assigned to mercy housing, inc. To perform services and provide leadership for mercy housing, inc. And its subsidiaries. Sister bayley is a member of a religious community and mercy oaks village 75-3134134 does not receive any personal income. Sister bayley is not an employee of mercy housing, inc. Or mercy oaks village. 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 2024 mercy housing, inc. Paid $118,445 for the annual stipend fee and benefits equivalent.”

“Management services: program service expenses 259,617. Management and general expenses 0. Fundraising expenses 0. Total expenses 259,617.”