Loma Linda Mercantile

“Family relationships may exist among other officer's, director's, or key employees of other related exempt organizations. The nature of the business relationship is employment.”

“Delegation is administered in accordance with the by-laws of the corporation.”

“There shall be a single class of members of loma linda mercantile (llm) which shall be loma linda university health (lluh) acting by and through its board. Membership in this corporation shall terminate when an individual ceases, for whatever reason, to be a member of the lluh board. No member shall have any right or interest in any of the property or assets of llm. No member shall transfer for value or otherwise a membership or any right arising therefrom.”

“Loma linda university health (lluh), as the corporate member, elects the board of trustees at its quinquennial meeting. Lluh shall also have the power to fill vacancies on the board of trustees between the quinquennial organization meetings.”

“The powers reserved by lluh, which shall only be exercised by the lluh board upon a majority vote of lluh's trustees present and voting at a regular or special meeting whenever a quorum is present, are to: 1) approve or ratify all changes to the articles of incorporation or bylaws of loma linda mercantile (llm). 2) establish guidelines for borrowing of funds by llm. 3) approve any merger, consolidation, dissolution, sale, or transfer of more than ten million dollars of llm. 4) approve any exceptions to the guidelines for the borrowing of funds requested by llm's board. 5) require that llm establish contracting guidelines. 6) require that llm have a compliance program.”

“This form 990 has been reviewed by internal audit and management and is made available to the audit committee for review and comment before filing.”

“General counsel annually obtains statements of disclosure from trustees, officers, administrators, key employees, and others who make or affect significant decisions and reviews the findings with appropriate boards and committees. The board of trustees makes the decisions regarding questions which have not been satisfactorily answered after administrative consideration.”

“Lluh, loma linda mercantile's parent organization, employs an independent outside consulting firm to benchmark compensation for lluh employees. Loma linda mercantile's ceo and cfo are employed by lluh. The lluh executive compensation committee uses the results of the independent survey to establish pay scales for the next fiscal year. The executive compensation committee sets the total compensation below the industry mean and median amounts provided in the survey. The executive compensation committee is composed of trustees appointed by the lluh board who are independent of lluh's management. The executive compensation committee is appointed by the lluh board of trustees to have direct responsibility for establishing compensation, policies, and benefits for the senior executives of lluh. The committee's process includes contemporaneous substantiation of deliberations and decisions. This process was last undertaken in december of 2022 for the officers of loma linda mercantile.”

“The irs form 990 is available on www.guidestar.com, and also may be obtained by making a request to the cfo at 11234 anderson st., loma linda, ca 92354.”

“Loma linda mercantile will make its governing documents and conflict of interest policy available to the public upon request and in accordance with irs guidelines. The conflict of interest policy is posted on the organization's internal website for employees. The financial statements are included in the irs form 990 which is available to the public upon request.”

“Other change in net assets 461,584.”

“The review process has not changed from the prior year.”