Mercy Foundation Inc

Organization Overview

Mercy Foundation Inc is located in Maywood, IL. The organization was established in 1946. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mercy Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Mercy Foundation Inc generated $369.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $40.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (33.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE SUPPORT FOR THE PROGRAMS OF MERCY HEALTH SYSTEM OF CHICAGO AND ITS AFFILIATES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MERCY FOUNDATION BEGAN IN 1983 AND IS LOCATED IN CHICAGO, ILLINOIS. THE FOUNDATION WAS THE FUNDRAISING ARM OF MERCY HEALTH SYSTEM OF CHICAGO. MERCY HEALTH SYSTEM OF CHICAGO IS IN WIND DOWN AFTER THE SALE OF MERCY HOSPITAL AND MEDICAL CENTER ON MAY 31, 2021. A RESOLUTION HAS BEEN ADOPTED BY THE MERCY FOUNDATION TO TRANSFER UNRESTRICTED FUNDS TO OTHER 501(C)(3) ORGANIZATIONS WHICH WILL HONOR MERCY HEALTH AND MEDICAL CENTER'S LEGACY AND SERVE THE COMMUNITIES IN WHICH MERCY HOSPITAL AND MEDICAL CENTER OPERATED. A PLAN IS IN PROCESS TO DETERMINE WHAT CAN BE DONE WITH THE RESTRICTED FUNDS.


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Board, Officers & Key Employees

Name (title)Compensation
Carol Garikes-Schneider
Director; President & CEO Thru 09/21
$0
John Capasso
Director; President & CEO As Of 1/22
$0
Silia Miglio
Treasurer; Vp, Finance
$0
Jeffrey Mathis
Secretary; Associate Counsel
$0
Michael Markos MD
Director; Physician
$0
Thomas Caplis
Director; Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $367,632
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $369,632

Grants Awarded

Over the last fiscal year, Mercy Foundation Inc has awarded $56,334 in support to 2 organizations.

Grant RecipientAmount

CHINESE AMERICAN SERVICE LEAGUE

PURPOSE: COMMUNITY SUPPORT

$28,375

MERCY HOSPITAL AND MEDICAL CENTER

PURPOSE: COMMUNITY SUPPORT

$27,959
View Grant Profile

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