Mercy Housing California

“The board of mercy housing california has delegated certain authority to an executive committee, including the authority to review, approve, and recommend approval by the mercy housing investment committee (comprised of employees of mercy housing, inc. In executive administration) to real estate development activity.”

“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 california, has authority over mercy housing california 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”

“The 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.”

“Sister amy bayley, rsm, serves as an officer of mercy housing california 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 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 does not receive any personal income. Sister bayley is not an employee of mercy housing, inc. Or mercy housing california. 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.”

“Other professional fees: program service expenses 181,089. Management and general expenses 282. Fundraising expenses 0. Total expenses 181,371. Contract labor: program service expenses 498,522. Management and general expenses 0. Fundraising expenses 0. Total expenses 498,522. Management services: program service expenses 17,961,035. Management and general expenses 0. Fundraising expenses 1,087,605. Total expenses 19,048,640.”

“Transfer of mercy housing california xiv, lp equity -10,653,232. Transfer of mercy housing california v, lp equity -3,765,580. Transfer of mercy housing california xxxii, lp equity 2,349,387. Transfer of mercy housing california xxxi, lp equity -1,290,679. Transfer of mercy housing california xxxv, lp equity -3,307,003. Consolidation of mercy housing 95 llc -40,361. Consolidation of california land acquisition fund llc -1,195,799. Consolidation of california land acquisition fund holding i llc -1,500. Consolidation of california land acquisition fund holding ii llc -3,000. Consolidation of california land acquisition fund holding iii llc -1,500. Consolidation of california land acquisition fund holding iv llc -1,500. California land acquisition fund llc beginning investment balance -449,381.”