Opening Doors, Building Communities
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Mercy HousingY E A R S O F
A n n u a l R e p o rt 2 0 0 7
very day, Mercy Housing strives to create stable,vibrant, healthy, communities across the nation.One of the biggest lessons we’ve learned over theyears is that we cannot achieve our mission byourselves. We need the support and expertise of real
estate development and resident services partners, health careleaders, community officials, donors and volunteers to make ourvision of a more humane world possible.
On May 17, 2008, more than 650 people who contribute toMercy Housing’s mission came together at Chicago’s UnionStation to celebrate our organization’s 25 years of success ofopening doors and building communities. Through ticket andtable sales, silent and live auctions, and many generoussponsors, including the event’s Presenting Partner Fannie Mae,Mercy Housing raised more than $1.4 million, helping us growcloser to our goal of creating 100,000 affordable homes for 1million people over the next five years.
About 15.8 million households in the United States areseverely cost burdened, or pay more than 50 percent of theirincome toward housing, according to the National Alliance to End Homelessness. And every day, we’re losing the affordablehomes we already have. Over the past 10 years, 170,000 public housing units and 300,000 federally subsidized private marketunits have been demolished or converted to market-rate housing.
Mercy Housing has participated in the development, preservation and/or financing of more than 34,000 affordable homes,serving more than 109,000 people on any given day. These numbers not only include what Mercy Housing has developed; theyinclude the work of our property management company, Mercy Services Corporation, the lending activities of Mercy Loan Fundand the work of our Consulting Division. All of the staff and resources behind these divisions and subsidiaries are part of MercyHousing’s mission. Without their work, the “Seven Marias” in Washington, D.C., may not have an opportunity forhomeownership, more than 50 low-income seniors in Waco, Texas, may not have the safe, affordable home they need, and 15
people with special needs in Moscow, Idaho, maynot have a stable home that caters to their needs.
You can read about all these examples of MercyHousing’s work in this report, and we lookforward to sharing many more success storieswith you in the future.
On behalf of Mercy Housing’s Co-SponsorCommunities, boards, staff members, volunteersand residents, thank you for your continuedsupport of our work.
Sister Lillian Murphy, RSM,CEO
Sister Pat McDermott, RSM,Chair, Mercy Housing Board of Directors
Mercy Housing Annual Report 20071
eSister Lillian Murphy and 25th Anniversary Gala Master of Ceremonies Mike Clune on May 17 in Chicago
ContentsOpening Doors to Healthy Communities
Intercommunity Mercy Housing: Helping Mothers Improve Their Health .........................4
Mercy Housing California: Improving Our Community’s Environment ..............................6
Opening Doors to Stability
Mercy Housing Southwest: Helping Residents Access Financial Stability ........................8
Mercy Housing Southeast: Building Seniors a Safe, Stable Home ................................10
Opening Doors to Vibrant Communities
Mercy Housing Lakefront: Celebrating 15 Years of Vibrant Housing .............................12
Mercy Housing Colorado: Developing Leaders by Promoting Peace ..............................14
Opening Doors to Opportunity
Mercy Loan Fund: Financing Opportunities for Homeownership ..................................16
Mercy Housing Idaho: Offering People a Community that Serves Them ........................18
Financial Statement ....................................................................................................................20Co-Sponsor Communities and Mercy Housing National Board of Trustees .........................................26Regional Boards of Directors ........................................................................................................28Our Donors.................................................................................................................................30
Mercy Housing Annual Report 20073
Graphic Design: Angie Lee, Grindstone Graphics, Inc.Photography: Mitch Bowers, Bowers PhotographicsAdditional Photography: Eric Sahlin Photography, Anthony Camera Photography
Printed on recycled paper
Opening Doors to Healthy
“ “A safe, decent affordable homeis like a vaccine— it literally prevents disease.
— Dr. Megan Sandel of Boston University,
School of Medicine
Helping Mothers Improve Their Health
others who are concerned aboutpaying rent and utilities, raising theirchildren and putting food on the
table aren’t always placing their health at the top of theirpriority list. But Intercommunity Mercy Housing ischanging that through a women’s health program called“Healthy Mothers, Healthy Families.”
“Women generally are the health care decision-makersfor their families. They’re the ones who buy the groceriesand schedule the doctor’s appointments,” said CynthiaParker, Intercommunity Mercy Housing President.“They’re also more apt to neglect their own health due tolack of time or resources.”
Healthy Mothers, Healthy Families started as an outreacheffort by staff at Sterling Meadows in Bellingham,Washington. The property serves 50 farm worker familieswhose Hispanic heritage puts them at increased risk fordiabetes, obesity and high blood pressure. Because mostresidents work seasonally or part-time, many lacked healthinsurance and were not receiving regular preventive care.
m“Our goal is to empower low-incomewomen to take charge of their own health and the health of their families by increasing their knowledge of nutritionand health, improving their access tohealth care and teaching them how to advocate for themselves and their families within the health care system.”
~ Cynthia ParkerPresident, Intercommunity Mercy Housing
Mercy Housing Annual Report 20075
In fall 2006, Intercommunity Mercy Housing, inpartnership with St. Joseph Hospital, launched a six-weekpilot program at Sterling Meadows. The series of healtheducation workshops focused on everything from prenatalcare to diet and nutrition and were presented in small groupsessions by Spanish-speaking educators.
The pilot program was so well received that it has becomea regular weekly feature at Sterling Meadows. MercyHousing was able to leverage the success of HealthyMothers, Healthy Families to secure $7,000 in venturefunding from United Way of King County to replicate theprogram at Appian Way Apartments in Kent, Washington.While the Healthy Mothers, Healthy Families programprimarily serves the 134 women and 21 adolescent girls atAppian Way, it is open to residents of the surroundingcommunity. Half of Appian Way residents are Hispanic andthe average annual household income is $24,000. Of the 150homes at Appian Way, 15 are reserved for formerly homelessfamilies with children.
“Our goal is to empower low-income women to takecharge of their own health and the health of their families byincreasing their knowledge of nutrition and preventivehealth, improving their access to health care and teachingthem how to advocate for themselves and their familieswithin the health care system,” Parker said.
Elsewhere in the Country
Savannah, Georgia – Mercy HousingSoutheast celebrates Springfest, anannual block party for residents ofHeritage Place and Heritage Corner& Heritage Row Apartments.
Nampa, Idaho – Mercy HousingIdaho collected more than 1,700children’s books during a community book drive at localDutch Brothers Coffee locations.The books were given to the community centers at ComstockApartments, New Hope and Northside Nampa.
Improving Our Community’s Environment
ur mission to create healthy communities doesn’tapply only to the health of Mercy Housingresidents and staff. Mercy Housing takes the healthof the environment very seriously as well.
Mercy Housing California is a stellar example of theorganization’s charge to incorporate the highest ecologicalstandards into all aspects of its work. In 2004, the regionaloffice established an “ECOmmittee” that is committed “to theprinciples of environmental sustainability as a key expressionof Mercy Housing’s Core Values – respect, justice and mercy.”Committee members include staff from propertymanagement, resident services, property maintenance, realestate development and office management.
In 2007, the ECOmmittee’s work culminated in the creationof 10 standard operating procedures that all departments –from administration to property management to housingdevelopment – can incorporate into their work.
Standard Operating Procedures1. Buy only recycled paper for printers and copiers.2. Identify recycling program opportunities for paper at
all properties and offices.3. Set thermostats at all facilities at 68 degrees in the
winter and 75 degrees in the summer.4. Recycle all toner cartridges.5. Recycle or properly dispose of all electronic equipment,
including batteries.6. Set up recycling container and program for empty cans
and bottles at all properties and offices.7. Turn off computer work stations
at the end of the workday.8. Turn off lighting in office areas that
are unoccupied.9. Discontinue the use of Styrofoam
kitchen products.10. Use paint with low-volatile organic
compounds in construction and ongoing building maintenance.
o“The clean-up was organized by Resident Services andProperty Management as a way to reduce vandalism onthe property and engender a feeling of community pride.”
~ Lisa Baty, Resident Services CoordinatorColumbia Park Apartments, San Francisco
The solar panels at Mission Creek Senior Community in San Francisco are an example of the green design elements the organization is using.
“We have the opportunity to improve the health of ourenvironment everyday – from using energy-efficientappliances in our new affordable housing properties toturning down the air conditioning in our offices to usingrecyclable plates and cups at community meals,” said JaneGraf, Mercy Housing California President. “MercyHousing California encourages and supports allemployees in their individual and collective efforts toreduce, reuse and recycle.”
Our homes, both rental and ownership, exceed CaliforniaTitle 24 Energy Conservation Standards, which were enactedin 1978 and are updated periodically to reduce the state’senergy consumption. For instance, all of our new propertiesinclude Energy Star-compliant appliances. We are replacingall appliances in existing housing with Energy Starappliances, as well as light bulbs with compact fluorescentlights. We also use recycled or regionally manufacturedbuilding materials, and paints and flooring adhesives thatare low in volatile organic compounds, which contain fewertoxic and carcinogenic materials.
Mercy Housing California residents are helping to improvethe health of their communities also. At Columbia ParkApartments in San Francisco, about 30 residents cometogether annually for a community clean-up. Using onlyenvironmentally friendly cleaning supplies, residents andstaff members scrub the property – from handrails to tablesto walls.
“The clean-up was organized by Resident Services andProperty Management as a way to reduce vandalism on theproperty and engender a feeling of community pride,” saidLisa Baty, Resident Services Coordinator. “Because of ourclean-up and the green supplies we used, our community isproud, happier and healthier.”
Mercy Housing Annual Report 20077
Elsewhere in the CountryLawton, Oklahoma – Mercy Housing’s National Consultingand Lending Division worked with Catholic Charities ofOklahoma City to rehabilitate the 64-unit, 11-buildingColumbia Square Apartments. The property featuresseveral green components, including vinyl-tile flooring with60 percent recycled materials; regionally manufacturedbricks, shingles, windows and flooring; heat-reflectingshingles; and a wireless energy monitoring system that willbe used to counsel residents on energy usage.
Opening Doors to Stability
“ “I wish for my neighborhood to be good. I wish all children had a safeneighborhood wherethey could walk withtheir heads up andcould feel safe.
— Tina Eat, Age 10Resident, San Francisco
From “Voices of Our Own”
Helping ResidentsAccess FinancialStability
rom 2003 to 2007, thousands of Mercy Housingresidents across the nation had on average an extra$1,885 to spend each year thanks to the EarnedIncome Tax Credit and tax preparation services.
Through partnerships with local volunteer taxexperts, Mercy Housing offers tax preparation
services at properties in Arizona, California, Colorado, Idaho,Illinois, Nebraska and Washington. In addition to offeringfree tax preparation, one of the main goals of the services isto help residents claim the Earned Income Tax Credit (EITC),a program they may not know about otherwise. From 2003 to2007, residents received a total $2.1 million in EITC throughthe program.
“Our residents are a wonderful example of what Congresshoped to achieve by establishing the EITC program in the1970s,” said Sister Lillian Murphy, RSM, Mercy HousingCEO. “They’re using the money for necessities they could nototherwise afford. The EITC program gives residents anotherway to stabilize their lives."
For instance in Arizona, more than 1,000 residents andcommunity members completed their tax forms in 2007with help from Mercy Housing staff and qualifiedvolunteers. Mercy Housing Southwest properties in Mesawork with the City of Mesa to designate properties asVolunteer Income Tax Assistance sites, where anyone fromthe community can come for free tax-preparation classesand receive help to e-file federal and state tax returns.About a quarter of the residents who take advantage of theservice are able to claim EITC, in addition to saving anaverage of $250 on tax preparation services.
f"The EITC program gives residents anotherway to stabilize their lives."
~ Sister Lillian Murphy, RSMCEO, Mercy Housing
Residents have said they’re using the extra money to helpwith everything from health care to education to vacations.
“I have not had an eye exam in three years,” said VeliaEspinoze, a resident at Vista Alegra Senior Village inGlendale. “I will have one now and buy some new glasses.”
Mercy Housing Annual Report 20079
Elsewhere in the Country
California, Illinois and Colorado –Mercy Housing and Citi launched thethird year of their successful MakingDreams Happen program in 2007.The financial education programteaches adults the skills they need toopen checking and savings accounts,establish and maintain positivecredit, and create and followhousehold budgets. The program wasoffered to Mercy Housing residentsand surrounding communitymembers in Chicago, Illinois; SanLeandro and San Francisco,California; and Denver, Colorado.
Building Seniors aSafe, Stable Home
ore than 70 families and nearly 50seniors in North Charleston, South
Carolina, are on track toward stability after moving intoMercy Housing Southeast’s two new properties there –Alston Lake and Marshside Village.
Alston Lake held its grand opening in March 2007 tocelebrate completion of the 72-unit, mixed-income familyproperty, which includes a computer lab and playground.Alston Lake was built through a partnership among Mercy
Housing, TCG Development Services, LLC, and the City ofNorth Charleston Housing Authority, as part of a largerHOPE IV Revitalization plan. HOPE VI is a U.S. Departmentof Housing and Urban Development-administered programthat is designed to replace severely distressed public housingwith new mixed-income developments.
Marshside Village, which opened to residents in August2007, is on a beautiful site overlooking a marsh and features48 homes for low-income seniors. Features include a librarywith computer lab, a kitchenette for gatherings, a sittingroom and an outdoor gazebo.
Marshside Village is located on the site of a former publichousing development. TCG Development Services, LLC, isthe master developer for the HOPE VI initiative that willtransform the site into a new community, featuring affordableand market-rate rental units, as well as homeownershipopportunities. Marshside Village serves low-income seniors,some of whom lived at the site before its redevelopment.
The North Charleston Housing Authority donated the landfor Marshside Village. A HUD 202 Capital Grant wasawarded for construction and a Project Rental AssistanceContract with HUD will help subsidize residents’ rent.
“This is exciting for the community and the residents whoare making these two, new beautiful properties their home,”said Pete Walker, President of Mercy Housing Southeast.“With a safe, affordable home, these seniors and families canfocus their energy on stabilizing their lives and improvingtheir community.
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Elsewhere in the Country
Waco, Texas – Mercy Housing brokeground on Brook Oaks SeniorResidences, a 54-unit property forresidents making no more than 50percent of the area median income($17,650 for one person). The property,scheduled to open Fall 2008, willfeature a community room, computer laband healing garden. It was built on theformer site of Ascension Health’sProvidence Health Center. AscensionHealth, one of Mercy Housing’s StrategicHealthcare Partners, provided the landto Mercy Housing at no cost.
Opening Doors to
“ “It’s our little pieceof paradise.
— Nella WentzelSenior Resident
Creekview Manor Folsom, California
Celebrating 15 Yearsof Vibrant Housing
early two decades ago, Mercy HousingLakefront – then known as LakefrontSupportive Housing – had the foresight to seethe changes that would soon take place in
Chicago’s Uptown neighborhood. Because of theneighborhood’s proximity to the city and its rich history inarts and entertainment and community organization,developers would soon fill the streets with market-ratecondominiums, leading to a gentrification that would changethe neighborhood’s landscape.
Mercy Housing Lakefront bought and renovated twobuildings – The Malden Arms and Miriam Apartments – intosingle-room occupancy apartments for people who areformerly homeless or have special needs. In 2006 at theMalden Arms and in 2007 at The Miriam, staff and residentsat the properties celebrated the buildings’ 15 years ofproviding safe, quality housing with the services residentsneed to stabilize their lives.
The Malden Arms is home to 86 people with a medianannual income of about $11,000, and The Miriam is home tonearly 60 women with a median annual income of about$3,800. Many of the residents have battled drug addictions,abusive relationships and financial hardships. Bothproperties offer opportunities for case management, jobplacement and resident programs, including art therapyclasses and group counseling.
“Lakefront was very thoughtful about creating buildingsthat would have long-term affordability,” said Ed Jacob, CEOof North Side Community Federal Credit Union and one ofLakefront Supportive Housing's original board members. “Inthe 1980s, a lot of low-income buildings were beingdeveloped but many did not have the future in mind. As theneighborhoods have become gentrified, buildings have beensnatched up for condominiums. If Lakefront hadn’t madequality renovations and planned for the future, and MercyHousing hadn’t continued the mission, the Malden Arms andMiriam buildings would have ended up as condos, too.”
Many of the residents have called the properties home forthe entire 15 years. Ira Turner, 66, moved into the MaldenArms just a few months after it opened.
nThe Miriam Apartments celebrated the community’s15th Anniversary with a “There’s No Place Like Home”party. Staff, pictured right, and residents decorated theproperty in a “Wizard of Oz” theme and wore their own“ruby slippers.”
“It’s a lovely neighborhood and I feel very safe. It has beengreat to live here all these years,” she said. “Living here islike a little United Nations. It’s very diverse and justbeautiful.”
Corinne Eiswert moved to The Miriam in 1992, after herbasement apartment was destroyed in a fire. Eiswert hasbeen at the building since its grand opening when MayorRichard Daley cut the ribbon.
“It’s an all-women building, which makes us unique,” saidEiswert. “Because we’re women, we do draw closer together,especially in times of need. I consider the Miriam my home.”
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“Because we’re women, we dodraw closer together, especially intimes of need. I consider theMiriam my home.”
~ Corinne Eiswert, Resident, Miriam Apartments,
Raising Leaders byPromoting Peace
outh residents at several Mercy HousingColorado properties are learning the skillsthey need to prevent bullying, lead theircommunities and create a positive, healthyenvironment.
Peace Pals is a leadership skills trainingcourse for youth residents, ages 6 to 18, at Decatur Place,Holly Park, Grace and Parkside Apartments. The PeacePals program has been in operation since 2006 at MercyHousing properties throughout Colorado and more than60 residents currently participate.
Peace Pals is part of the Bullying Prevention Initiativesponsored by The Colorado Trust. The program goal is tohelp young residents learn about bullying prevention in apositive way. Participants are encouraged to follow the PeacePals Promises which outline respectful ways of treatingothers. The weekly lessons teach skills including makingpositive choices, helping the community, and showingrespect to and including others, especially those who areeasily left out.
yElsewhere in the Country
San Francisco Bay Area, California – About 40 children from Mercy HousingCalifornia properties left the bright lightsand busy streets for a two-night campingtrip at Mount Tamalpais State Park. Thekids in grades six and higher hiked,camped and explored the beach. “It’sgreat to get the kids outdoors. It givesthem more time to learn about and appreciate nature,” said Gwen Yaeger,Resident Services Manager.
Peace Pal Promises• We will not bully others.• We will include everyone.• We will stop and think.• We will help others.• We will always tell an adult
when we need help.
In April 2007, Peace Pals helped welcome the Denver Police Department to Grace Apartments,where officers opened a new community office. Attendees included Denver Mayor John Hickenlooper,upper left, and Denver Police Chief Gerald Whitman,lower right accepting a gift.
“Peace Pal behaviors are specific and easily recognizable.By these we hope to show them that they are part of a biggermovement,” said Donna Baiocco, Resident Services Directorfor Mercy Housing Colorado. “We wanted to give our youththe ability to stop and think before making a choice and tounderstand the impact of those choices.”
After completing the first part of the Peace Pals program,the participants become “Peace Pals in Action” where thefocus shifts to helping the larger community. The “Peace Palsin Action” choose projects to focus on, like recycling, to maketheir communities safer, healthier places to live. A second-grade teacher at a school in Commerce City was soimpressed by a Holly Park Peace Pal student’s ability tointervene on the playground that she invited her classroomto participate in a one-hour Peace Pal group.
The Peace Pals program takes place one day a week for anhour and a half; however, the Peace Pal Promises areencouraged and reinforced every day.
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“We wanted to give our youth the ability tostop and think before making a choice and tounderstand the impact of those choices.”
~ Donna Baiocco, Resident Services Director, Mercy Housing Colorado
Opening Doors to Opportunity
“ “Home is wherepeople of all different colors,shapes and sizesare sewn togetherby a thread.
— Anh Nguyen, 13From “Voices Of Our Own”
Financing Opportunities forHomeownership
hen a group of residents in Washington,D.C., faced the condemnation of theirapartment building and a landlord whowanted to convert the building into market-
rate condominiums, the residents realized their full potentialto empower themselves and gain control of their future.
The seven Marias – Maria Zuniga, Maria Salgado, MariaRivas, Maria Guevara, Maria Gavidia, Maria Herrara andMaria Amaya – had immigrated to the United States from ElSavador, Honduras, Bolivia and Ecuador. They all worked atleast two jobs to afford the rent for apartments that the citycalled a “danger to the health and safety of the persons in orabout the premises.”
The property was cited by the city for more than 2,000housing code violations. The list of problems includeddripping water pipes, lack of heat, gas leaks, sagging ceilings,broken windows, peeling lead-based paint, roach and ratinfestation, and overcrowding with as many as six peopleliving in an efficiency unit.
The property was also in the up-and-coming ColumbiaHeights neighborhood, where the city opened a Metro station
Mercy Housing, Mercy Loan Fundand Fannie Mae representativesgathered to celebrate the openingof Las Marias.
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and announced a $149 billion plan to redevelop the area withlarge, box retail stores that would attract new jobs and residents.
The Marias wanted to keep their home, so they organized atenant association to buy the building from their landlord andrenovate it.
"We needed to unify, and it was important because there wasso much discrimination, especially against Latinos," Zunigasaid. "The building was ours, and that's what I wanted foreveryone."
They took their plan to Mercy Loan Fund, a subsidiary of Mercy Housing. Mercy Loan Fund provided a$1.4 million loan to the nonprofit tenant association to finance the acquisition of a 1926-built rental property.
Extensive renovation to the entire building included new roof with new gutters and downspouts, newkitchens with new appliances, new baths, new windows, new interior wall finishes, paint and flooring, andupgrade of electrical and heating systems.
Twenty-eight of the 50 units were pre-sold to tenant-association members, all of which are first timehomebuyers, at prices affordable to families at 20 percent to 50 percent of the area median income(AMI), which is $51,847 in Washington, D.C. The remaining 22 units are being sold to families below 80percent of AMI. The District of Columbia also provided the new homeowners with deep-subsidy downpayment or closing cost assistance and homebuyer counseling.
The residents finished off their renovations with a plaque in front with the building’s new name –Condominium De Las Marias.
“This is just one example of many ways that Mercy Loan Fund’s lending helps to create stable, vibrantand healthy communities,” said Diane Leavesley, Mercy Loan Fund President. “With Mercy Loan Fund’shelp, these women realized their dream of homeownership and a way to better their lives.”
“With Mercy Loan Fund’s help, thesewomen realized their dream ofhomeownership and a way to bettertheir lives.”
~ Diane Leavesley, President, Mercy Loan Fund
Offering People aCommunity thatServes Them
esidents at Mercy Housing Idaho’s newestproperty and only community for people with special needs are discovering their newfoundindependence through the opportunities offered there.
Independence Hill in Moscow, Idaho, opened in2006. After a year of operation, residents are forming acommunity by participating in weekly activities, includinggames, arts and crafts, movie nights and karaoke, in thecommunity room.
“Independence Hill allows people with developmentaldisabilities to live independently rather than in a grouphome or other facility,” said Craige Naylor, Mercy HousingIdaho President. “These residents are flourishing in anenvironment that is supportive and helps them realize theirfull potential.”
In 2000, Nancy Johansen, a former Mercy Housing IdahoBoard member, planted the seed for building anindependent living facility for developmentally disabledadults. Her son Peder served as her inspiration.
Mercy Housing held a groundbreaking ceremony in May2005 and construction began the next month. By February2006, residents were moving into the 14 rental units of
r“Independence Hill allows people withdevelopmental disabilities to liveindependently rather than in a group home or other facility. These residents are flourishing in an environment that issupportive and helps them realize theirfull potential.”
~ Craige NaylorPresident, Mercy Housing Idaho
supportive housing near the campus of the University of Idaho. The building includes a community room and a courtyard.
Mercy Housing Idaho and Stepping Stones, Inc., aMoscow non-profit organization that supports individualsand organizations benefiting people with developmentaldisabilities, worked together to see the project throughcompletion. Stepping Stones donated land for the site andselected Mercy Housing Idaho to build and maintain thedevelopment.
Every day, the residents at Independence Hill show howtheir lives are improving as a result of the services andprograms there. For instance, Tawny Espy, far left, hadmoved from place to place before finding IndependenceHill. In her new home, Tawny immediately joined activitiesin the community room and made friends, bringing herservice dog, Paco, with her everywhere. Now, Tawny hasthe independence and stability that enables her to thrive.
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ercy Housing’s missionis to create stable,vibrant and healthycommunities by
developing, financing and operatingaffordable, program-enriched housing forfamilies, seniors and people with specialneeds who lack the economic resourcesto access quality, safe housingopportunities. During Mercy Housing’smore than 25-year history theorganization has intentionally set aboutto grow the number of affordable homeswhile striving to ensure a strong,sustainable organization characterized byfiscal responsibility and socialaccountability.
Mercy Housing was created to addressthe need for quality, safe affordablehousing in our society. As theorganization has grown it has becomeclear that vision and mission must beaccompanied by a sound businessorientation and sustainable financialresults. As we have grown from less than$1 million in assets to our current size,we have come to recognize that thesustainability of our important work isdependent upon building a strongbusiness model and maintaining afinancially stable, strong organization.We engage in continuous, intensivestrategic planning to lay out our long-term objectives and benchmarks, and weemploy sound budgetary and reviewprocedures to evaluate the financialimpact of our activities. We havedeveloped sophisticated cash
management and forecasting tools,enabling us to closely monitor financialresults and review and analyze markettrends. Further, we continually seekopportunities for improved efficiencyand enhanced core mission deliverythrough ongoing cost analyses andprocess improvements. As a resultMercy Housing’s consolidated totalassets continues to increase , risingfrom $1.17 billion as of December 31,2006 to $1.33 billion as of December 31,2007.
Financial integrity and controls – Inaddition to financial strength, animportant element of a sound businessis the integrity of the systems andfinancial information that anorganization produces. MercyHousing’s financial team strives toproduce timely, quality financialinformation to our organizationalleadership, governing bodies, funders
and regulatory agencies. We recognizethe need to ensure strong financialcontrols and infrastructure. Publiccompanies are now being subjected tothe increased audit, control andreporting rules of the Sarbanes-OxleyAct of 2002. While much of this Actdoes not apply to nonprofits, MercyHousing’s Board of Trustees andmanagement team are voluntarilycomplying with the spirit of thelegislation and have implemented anumber of activities including thecreation of a separate independent AuditCommittee of the Board of Trustees. Asan organization we work to ensure thatcontrols and reporting are adequate toensure responsible stewardship of thefunds generously provided by ourcontributors, lenders and other fundingsources.
Mercy Housing’s consolidated auditedfinancial statements comply with
Program Efficiency Ratio Percentage of Total Expenses Used Directly in Program Activities93%
Fundraising Efficiency Ratio Percentage of Philanthropic Funds Available for Program Activities87%
Opening Doors, Building Communities2007 Annual Financial Report
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Generally Accepted AccountingPrinciples, which in the past have notpermitted the inclusion of the revenueand expense information for propertiesowned by partnerships in which MercyHousing is the minority general partner.Effective December 31, 2006, MercyHousing adopted EITF 04-5, requiringMercy Housing to consolidate thosepartnerships in which Mercy Housingwas the minority general partner.
For the years ended December 31, 2007,and December 31, 2006, the consolidatedaudited financial statements include 107and 101 partnership entities, respectively.The pie charts and tables on this pageillustrate the relative sources of revenueand allocation of expenses across the fullMercy Housing organization —encompassing the activities of alloperating multifamily properties,commercial properties andhomeownership construction projects inwhich Mercy Housing holds an interest.
Mercy Housing appreciates thecommitment of resources entrusted to usfrom our Sponsoring Communities,Strategic Healthcare Partners, and ourindividual, corporate, foundation andgovernment partners. We endeavor to bea sound business manager and stewardof these funds. Toward that end, weregularly evaluate the efficiency andeffectiveness of our fundraising activities and the use of these generouslyprovided funds.
Several national charity ratingorganizations have begun to evaluate theefficiency of fundraising efforts andprogram expenditures for a variety ofnonprofit organizations. We applaud thedesire of these organizations to helpdonors better understand how much oftheir contributions are going toward theirintended use. Unfortunately, MercyHousing’s organizational structure doesnot easily accommodate the rating
criteria of these organizations. As ourfinancial statements consolidatenumerous separate operating entitiesand hundreds of properties, it is vitalto use all of the information containedwithin these financial statements toproperly measure our program andfundraising efficiency. As many of therating organizations analyze onlysegments of the Mercy Housingorganization, we do not believe thatwe are being properly measured andtherefore have reflected themeasurements below.
Mercy Housing's mission requiresthe involvement and success of manydepartments throughout theorganization, including our propertymanagers, case managers, developers,loan officers, asset managers andothers. Therefore, when MercyHousing measures our Program Costs,we do so including all of the activities,such as those above, that support ourmission.
Our Program Efficiency Ratio — thepercentage of system-wideexpenditures that relate directly toprogram activities — exceeds industryaverages. Through our management ofoverhead and administrative costs, weensured that more than 93 cents ofevery dollar spent across the systemwas used for program costs asopposed to management, overhead or fundraising.
Our Fundraising Efficiency Ratio — thepercentage of funds raised from giftsthat remain after subtracting fund-raising expenses — was also very highand demonstrates our commitment todirecting these resources to theirstated charitable purposes. During2007, we ensured that 87 cents ofevery philanthropic dollar raisedwithin the system was available for itsintended use.
Organizationwide Expensesby Program2007
Organizationwide Revenueby Revenue Source 2007
Property Operations and Management82%Housing Development and Preservation7%Resident Services 5%Corporate Operations and Loan Fund5%Fundraising 1%
Property Rental Income 61%Philanthropy 12%Earned Fees 11%Government Capital Grants 10%Other 6%
Mercy Housing’s business model hasexpanded over the past 25 years to focuson a continuum of activities that supportour ability to provide program-enrichedaffordable housing to help our residentsmeet their basic human needs. Our linesof business include real estatedevelopment, property management,resident services, lending, assetmanagement and consulting services.These business lines are supported by ourcorporate support functions that includeaccounting, information technology,human resources, underwriting andfundraising.
Our audited financial statementsreflect the cost of these supportfunctions, as well as business-operatingactivities in accordance with generallyaccepted accounting principles. TheConsolidating Statement of Activitiesand Changes in Net Assets provides abreakdown of our income statementactivity by line of business.
The Property Operations &Management column on Page 24includes the operating results of ourconsolidated properties (a total of 255properties including 190 operatingproperties owned and propertymanaged by Mercy Housing, 33operating properties owned by MercyHousing but property managed by thirdparties and 32 properties currentlyunder development) as well as theoperating results of Mercy ServicesCorporation, which managed a total 224properties including 190 propertiesowned by Mercy Housing and 34properties owned by other parties. Asindicated in the Consolidating Statementof Activities and Changes in Net Assets,fundraising contributed approximately$16 million to the operating results for
this line of business in 2007. Thisamount consists largely of capitalgrants that have been received fromgovernment agencies to support theconstruction of new properties andprovision of new affordable units thatwill become available in the next fewyears. The generosity of agency andindividual giving is an importantelement to the growth of ouraffordable housing portfolio.
We have also developed and own ageneral partner interest (typically 1percent or less) in 107 properties,most of which we manage. Asdiscussed previously, these LIHTCpartnerships were not consolidated inprevious years, but instead wererepresented only by our netinvestment and the change in ourgeneral partnership interest. With theadoption of EITF 04-5 all of thesepartnerships have been consolidatedinto our financial statements. Ourcorporate operations divisions andproperty management subsidiaryprovide services to substantially all ofthese properties, and the cost of thesesupport functions is included in theconsolidated financial statements.
The Resident Services column reflectsthe fundraising revenue and the cost ofproviding resident-focusedprogramming in our properties. Ourprograms include health and wellness,education, community, and economicdevelopment activities. We recognizethat while housing serves an essentialhuman need our residents can furtherimprove their lives and thecommunities in which they live bybeing provided with otherdevelopmental and communitybuilding opportunities. Operating
Financial Statement Overviewincome from certain properties supportsthese activities. Additionally, wefundraise separately for these programsand use general funds to subsidize shortfalls.
Housing Development represents theactivities of our regional developmentoffices and our national preservationeffort. These divisions and subsidiariesidentify opportunities, develop newproperties, acquire properties forpreservation and rehabilitation, andfundraise for local activities. Throughtheir efforts, Mercy Housing has anownership interest in the 223 operatingproperties discussed previously, and 32properties (2,041 units) underdevelopment as of December 31, 2007.Additionally, Mercy Housing alsodevelops affordable single-family homesfor sale to individuals.
During Mercy Housing’s history wehave developed, financed or providedconsulting services for approximately$1.8 billion in affordable housing andhave provided housing for more than109,000 residents.
Mercy Loan Fund provides loans tononprofit housing developers thatproduce or preserve housing for low-income households. Through December31, 2007, the Loan Fund had providedmore than $140 million in loans resultingin the development or preservation ofmore than $1.1 billion of affordablehousing in 31 states. As of December 31,2007, approximately 22 percent of MercyLoan Fund’s outstanding loans were toMercy Housing affiliates.
A complete copy of Mercy Housing’sAudited Financial Statements is availableupon request.
Mercy Housing Annual Report 200723
Assets Cash and equivalents - Unrestricted $ 21,137,414 $ 21,913,741 Cash and equivalents - Restricted 93,944,605 74,913,058 Investments 5,721,021 9,598,707
Cash and investments 120,803,040 106,425,506
Notes Receivable 24,478,184 18,468,009 Pledges receivable 3,068,999 4,992,641 Grants Receivable 24,997,647 20,029,494
Notes, pledges and grants receivable 52,544,830 43,490,144
Net receivables from affiliates 5,557,731 6,114,932 Investments in limited partnerships 352,147 209,366
Investments and advances to affiliates 5,909,878 6,324,298
Project development costs 2,110,394 2,922,306 Gross property and equipment 1,383,888,119 1,225,518,911 Accumulated depreciation (254,181,451) (231,133,535)
Net property and equipment 1,131,817,062 997,307,682
Other assets 21,190,871 16,347,651
Total assets $ 1,332,265,681 $ 1,169,895,281
Liabilities Accounts payable and due to affiliates $ 56,268,860 $ 42,723,227 Accrued interest 43,691,170 38,687,778
Accounts Payable, due from affiliates and accrued interest 99,960,030 81,411,005
Current portion of notes payable 61,279,549 61,212,395 Long term portion of notes payable 670,197,378 589,309,673
Notes payable 731,476,927 650,522,068
Deferred revenue 13,927,903 10,842,724
Tenant security deposits 4,138,681 3,977,730
Total liabilities 849,503,541 746,753,527
Non Controlling Interest 241,728,040 166,678,324
Net assets Unrestricted net assets 60,872,550 82,726,224 Temporarily restricted net assets 176,535,844 169,950,182 Permanently restricted net assets 3,625,706 3,787,024
Total net assets 241,034,100 256,463,430
Total liabilities and net assets $ 1,332,265,681 $ 1,169,895,281
Consolidated Statement of Financial Position December 31, 2007
Consolidating Statement of Activities and Changes in Net AssetsFor the Year Ending December 31, 2007
Property Operations & Resident Housing Management Services Development
Rent—net of vacancies $ 90,253,058 $ 0 $ 0 Developer fees 0 0 10,744,012 Service fees 1,598,695 173,973 108,117 Fundraising 3,255,948 4,579,299 7,548,854 Fundraising; property capital grants 12,679,157 1,000,637 776,610 Consulting 71,669 4,400 3,453,321 Interest 2,930,134 21,153 511,559 Other 3,118,517 3,604 966,599 Release of restricted assets 0 0 0
Total revenues 113,907,178 5,783,066 24,109,072
Expenses and Losses
Compensation 28,053,077 7,370,069 7,720,267 Administrative 6,147,020 1,431,077 1,812,702 Professional services 4,012,284 172,512 1,054,608 Depreciation and amortization 38,100,914 25,086 231,320 Grants 5,103 147,710 417,031 Facility 32,020,324 174,053 718,082 Interest and fees 21,103,047 75 167,417 Bad debts 1,300,023 130,490 8,331 Provision for impaired assets 6,157,263 0 0 Project expenses 68,320 0 1,309,935 Allocation 2,161,606 710,052 2,378,093 (Gain) loss on sale of assets 3,810,799 0 (913,155)(Gain) loss on investment in limited partnership 0 0 (150,448)Minority Interest (21,413,701) 0 0
Total expenses and losses 121,526,079 10,161,124 14,754,183
Excess (deficiency) of revenue over expenses (7,618,901) (4,378,058) 9,354,889
Net assets, as restated at beginning of year 171,414,248 (8,829,016) 66,085,391 Other transfers to (from) net assets (10,232,261) 0 (765,106)
Net assets at end of year $ 153,563,086 $ (13,207,074) $ 74,675,174
Mercy Housing Annual Report 200725
Corporate OperationsConsolidated Unrestricted Temporarily Permanently and Loan Fund Total Restricted Restricted
$ 0 $ 90,253,058 $ 90,253,058 $ 0 $ 0 0 10,744,012 10,744,012 0 0
66,694 1,947,479 1,947,479 0 0 2,940,027 18,324,128 14,962,169 3,361,959 0
0 14,456,404 2,571,594 11,884,810 0 187,983 3,717,373 3,717,373 0 0
1,565,209 5,028,055 5,028,055 0 0 509,432 4,598,152 4,598,152 0 0
0 0 13,001,973 (12,840,655) (161,318)5,269,345 149,068,661 146,823,865 2,406,114 (161,318)
5,133,814 48,277,227 48,277,227 0 0 2,366,572 11,757,371 11,757,371 0 0 1,522,005 6,761,409 6,761,409 0 0
289,814 38,647,134 38,647,134 0 0 65,402 635,246 635,246 0 0
644,724 33,557,183 33,557,183 0 0 1,592,976 22,863,515 22,863,515 0 0
(29,077) 1,409,767 1,409,767 0 0 171,000 6,328,263 6,328,263 0 0 19,254 1,397,509 1,397,509 0 0
(5,249,751) 0 0 0 0 (223,565) 2,674,079 2,674,079 0 0
0 (150,448) (150,448) 0 0 0 (21,413,701) (21,413,701) 0 0
6,303,168 152,744,554 152,744,554 0 0
(1,033,823) (3,675,893) (5,920,689) 2,406,114 (161,318)
27,792,807 256,463,430 82,726,224 169,950,182 3,787,024 (756,070) (11,753,437) (15,932,985) 4,179,548 0
$ 26,002,914 $ 241,034,100 $ 60,872,550 $ 176,535,844 $ 3,625,706
Daughters of Charity, East CentralDaughters of Charity, WestDaughters of Charity, West CentralSisters of Bon Secours, MarylandSisters of Mercy, Auburn, CaliforniaSisters of Mercy, Burlingame, CaliforniaSisters of Mercy, Cedar Rapids, IowaSisters of Mercy, Chicago, IllinoisSisters of Mercy, NortheastSisters of Mercy, Omaha, NebraskaSisters of Mercy, St. Louis, MissouriSisters of St. Joseph of Orange, CaliforniaSisters of St. Joseph of Peace, Western Province, Washington
Left to right:Carol Ann Callahan, RSM, Sisters of Mercy, St. Louis
Norita Cooney, RSM, Sisters of Mercy, OmahaMarcian Deisenroth, RSM, Sisters of Mercy, Chicago
Susan Dewitt, CSJP, Sisters of St. Joseph of Peace
Left to right:Patricia Eck, CBS,Sisters of Bon Secours
Michelle Gorman, RSM, Sisters of Mercy, AuburnDiane Hejna, CSJ,Sisters of St. Joseph of Orange
Carolyn Krohn, RSM, Sisters of Mercy, Burlingame
Left to right:Ellen Kurtz, RSM, Sisters of Mercy, Northeast
Christena Papavero, DC, Daughters of Charity, WestTheresa Peck, DC, Daughters of Charity, East Central
Left to right:Mary Walz, DC,Daughters of Charity, West Central
Margaret Weigel, RSM, Sisters of Mercy, Cedar Rapids
Mercy Housing Annual Report 200727
Mercy Housing holds as its core values~
Respect: A basic perspective and behavior which is attentive, considerate and shows special regard for the inherent dignity of persons and the sacredness of creation.
Justice: The fair and impartial treatment of others.
Mercy: The ability to see need and respond with compassion.
Left to right: Sister Roslyn Hafertepe, SC, Sisters of Charity, CincinnatiRoger Pastore, RCP Financial GroupDeborah Saweuyer-Parks, Homestead CapitalRich Statuto, Bon Secours Health System
Left to right: Sister Pat McDermott, RSM, Sisters of Mercy of the AmericasSister Kathleen Nolan, OP, Adrian Dominican SistersBrad JamesJulia Gould, Fannie Mae
Left to right: Larry Dale, Citigroup Affordable Housing GroupJack Diepenbrock, Diepenbrock Harrison
Left to right: Charles Edson, Nixon Peabody, LLPW. Dean Henry, Legacy Partners Residential, IncMark Korell,JPMorgan ChaseJack Manning, Boston Capital Partners
Left to right:Barry Zigas, Zigas and AssociatesMike Zoellner, RedPeak PropertiesSpecial Advisors to the Board: (not pictured) Jack Burgis, retired; John Stewart,The John Stewart Company;and Susan Wang Wade, Retired, Solectron Corporation
Board of Trustees
Mercy Housing Southeast
Sister Jane Gerety, RSM (Chair)St. Joseph’s Health System
Jane M. HavertySmith, Gambrell & Russell
Paul P. HincheySt. Joseph’s/Candler Health System
Richard HarrellU.S. Enterprises, Inc.
Herbert KohnRetired CPA/Developer
Vaughn D. IronsFreddie Mac
Intercommunity Mercy Housing
Judy Byron, OPAdrian Dominican Sisters
Sharon Coleman (Chair)Retired, Coca-Cola Corp.
Susan Dewitt, CSJP (Vice Chair)Sisters of St. Joseph of Peace
Grace DiazSisters of the Holy Names
of Jesus and Mary
Jennifer King DoughertyMunicipal Securities Group, UBS
Kate GormallyProvidence Mother Joseph Care Center
Don Henry, RetiredU.S. Bank
Sharon R. HughesU.S. Bank
Pauline Igoe, O.P.Dominican Sisters of Tacoma
Glen H. SmithRetired, Russell Investment Group
Charlotte VanDyke, SPSisters of Providence
Regional Boards of Directors
Mercy Housing Idaho
Jane Pavek (Chair)Wells Fargo Bank
Sister RoseMary Boessen, RSMLa Posada Ministry
Linda BratnoberCommunity Volunteer
Sister Maura Clark, RSMSisters of Mercy
Sister Georgita Cunningham, RSMSisters of Mercy
Glenn SchumacherCertified Public Accountant
Paul T. SmithAttorney
Cindy WilliamsIdaho-Nevada Community Development
Mercy Loan Fund
Grace BuckleyCharles Edson (Vice Chair)
Nixon, Peabody, LLP
Carla DartisTides Center
Debra EakinU.S. Bank – Private Client Group
Julie Gould (Chair)Mercy Housing Inc.
W. Dean HenryLegacy Partners Residential, Inc.
Mark KorellJPMorgan Chase
Brian ShumanMercy Housing, Inc.
Charles WehrweinHousing Partnership Exchange
Mercy Housing California
Lloyd DeanCatholic Healthcare West
Anita FeigerIndependent Financial Consultant
Renee FrankenRenee Franken & Associates
Andrea JonesBosa Development
Marilyn Lacey, RSMMercy Beyond Borders
Fred LohseRetired, McClellan AFB
J. Russell PittoSimeon Properties
Alan RothenbergHuret, Rothenberg & Co.
MaryAnn ThodeKaiser Permanente – Northern California
Susan Wang WadeRetired, Solectron Corporation
Gregory WolkomKimpton Hotels & Restaurants
Mercy Housing Colorado
Michael W. BrownDonationsink, LLC
Jerome Buckley, M.D. (Vice Chair)Community Volunteer
Walt J. Coughlin (Chair)Coughlin & Company, Inc.
David W. HerlingerConsultant
Katherine KaleyMile High Banks
Tate McCoyLockton Companies, LLC
Kevin McCabeCB Ellis
Michael R. McGinnisBrownstein, Hyatt, Farber
Gesemia NelsonMetropolitan State College of Denver
Mercy Housing Lakefront
Bennett ApplegateApplegate & Thorne-Thomsen
Lindsey ArtolaProvena Health
Michael Borders (Vice Chair)Dykema Gossett PLLC
Michael CluneClune Construction Company
Rick Fumo (Chair)Fumo Consulting Group
Fran GrossmanShorebank Corporation
Charlie Hoch (Vice Chair)University of Illinois-Chicago
Rhonda Hopps, CFARed Capital Group
Sister Margaret Johnson, RSMSisters of Mercy, Chicago
Annika K. LittleBank of America
Ralph MirandaTenant, Carlton Apartments
Jack E. NealRetired, Bank One
John K. PowellRed Capital Group
Mia ScholzWalgreen Company
Kay WhitlockChristopher B. Burke Engineering
Mercy Housing Southwest
Phillip B. BellP.B. Bell & Associates
Andrew J. Loubert Sr. Margaret Mary McBride, RSM
St. Joseph’s Hospital and Medical Center
Mercy Housing Annual Report 200729
ercy Housing is grateful to the individuals andorganizations listed below for their generous support in2006. We welcome contributions at our national office in
Denver and our regional offices across the country. Thank you for investing inMercy Housing and bringing our mission to life.
Mercy Housing, Inc.IndividualsAnonymousCarol BaetzRichard & Susan BanksDrs. Judith & Richard BeeryDavid & Gerri BergGary & Linda BrierleyGrace BuckleyLilia & Donald CadyStanley & Anne CordesStefanie M. Covey & Chris FratesSheila CrowleyPeter Curia & Cheri Van SantLarry & Marilyn DaleJoan DearbornJoe DeRicoSister Sheila Devereux, RSMSister Genevieve DurcanKate & Peter EatonCharles & Susan EdsonMs. Jean FosterTracy GargaroMr. Samuel GaryLaurie GerdesM. Dianne GoldmanMary Ann GoodnerKathleen GormallyJulia GouldSharon HabeggerSister Roslyn Hafertepe, SCJack D. HendersonSandra Lynn HoffmanMark HolmesMarnie KamenskySister Kathleen Kearney, RSMJanette A. KellySister Marilyn KingJohn Koeppel & Susan RothsteinMark Korell & Jane MayberryJennifer KostkaRobert J. and Pam KrotzDiane & Story LeavesleyRose N. MabwaSister Pat McDermott, RSMJohn & Sandra McIntyreCharles & Rosemary McKinneyRoger MooreKathleen & Richard MorrisRobert H. MorrowBeth MullenMary NagelhoutCheryll O'BryanVincent F. O'DonnellRoger & Linda PastoreRobert & Kathleen PavlovichXavier & Penelope Pi-Sunyer
Karl & Rita PisterTucker Plumstead & Vicki TurnquistMelinda Pollack & Tony FrankAlison G. and Thomas R. SandlerChris ShottRich & Martha SiderJoseph & Joyce SolomonJohn & Gussie StewartByron & Lee StookeyMr. John SupsicMary Tingerthal & Conrad SoderholmJohn & Ginger WhellockDavid WilkinsonAudrey WilliamsAnn D. WoodwardBarry Zigas & Jodie Levin-Epstein
OrganizationsThe Annie E. Casey FoundationBig D' TruckingBingham McCutchen, LLPCiti FoundationThe Colorado TrustCorona ResearchDaughters of Charity, WestDiepenbrock - HarrisonEnterprise Community PartnersF. Herbert Haines TrustFannie MaeFannie Mae FoundationGoodSearch.comHabitat For Humanity of Bucks CountyImportant Gifts, Inc.The James Family FundJPMorgan Chase FoundationPulte Homes, Inc.Schenkein, Inc.Seed Learning Systems, Inc.Sisters of Bon SecoursSisters of Mercy, AuburnSisters of Mercy, Cedar RapidsSisters of Mercy, OmahaSisters of Mercy, US ProvinceSisters of Saint Dominic/Congregation of the
Most Holy NameSisters of St. Joseph of PeaceSisters of the Presentation of the
Blessed Virgin MarySource Management, Inc.SunTrust Bank, AtlantaTerrasearch Partners
Mercy HousingCaliforniaIndividualsAnonymousMaria Acuna-Feldman & Timothy FeldmanValerie AgostinoJeffrey AllportGeorge & Jean ArtzFather James F. AtkinsVincent BaldocchiLillian BallatiHarriet BanachLawrence & Estelle BardoffSister Amy Bayley, RSMOndria BeeneDavid & Gerri BergJack & Jo Ann BertgesRichard & Mary Bona
Mercy Housing Annual Report 200731
Carolina BorromeoPaul BowersMarie BradySharon BrandonGerald & Celeste BrasuellHelen BrownCynthia BrownT. Robert & Katherine BurkeLois BurleyJay & Pat CahillLeo CarewRufus ChambersLorraine ChampagneDennis ClearyAbelle CochicoVictoria M. CotterGregory A. CoxFranz & Joanne CristianiDora CrouchBishop John S. CumminsStephan & Gretchen DauesLloyd & Suzanne DeanPatricia DeatherageMark & Mary DentingerCarol DeVincenziPeter DoyleJames & Ann DudleyMaya Dunne & John DombrinkEvelyn EatonDaniel & Diane FarthingAnita & George FeigerBobbie FiteRenee FrankenCharles FreibergMary Ann FreibergRobert & Carol FreidenbergAdriana GaggeroSister Joseph Mary Galli, RSMJermain & Georgiann GillJane Graf & Rich WilliamsonRobert J. Grassilli, Jr.Ellen L. GrossAnthony GrumbachNatalie Gubb & David ArpiMaureen HigginsE. Alan HolroydeGordon Howie & Wilma ReichardSteve HullSusannah IglesiasDeborah Ivaldi-Pitcher & Mark PitcherGeorge & Jacqueline IvelichAndrea JonesStan & Cynde KeaslingSister Karen E. Kielb, RSMDesmond & Helen KilmurryGeorge KirschDara Kovel & Robert CoxRichard & Susan KramerRebecca Kurland & Patrick MasonSister Marilyn Lacey, RSMTom & Barbara LaubacherJohn Laws & Rhonda GrayJoan & Charles LawsonLuis LazakBill LazarusNancy P. LeeChas & Virginia LochtefeldFred & Patty LohseLeona M. LukenbillBarbara MackMerle MalakoffFrancis & Delia Ann Mansell
John MarlinBrent MasonAndrew & Marjorie McCarthyIsabella McDevittWilliam McDonnellDyan McDowellGrace McGilveryJerry & Marion McGovernHerbert P. & Susan McLaughlinStephen MelikianKaren Mihelic-HackettKenneth Mills, MDFrank & Atsumi MinamiAnthony MonginiPatricia MooreJudith Morasci, RSMFrank & Margaret MorrowDouglas & Mary Lou MortonPatricia MuckianKen NasuMaureen O'ConnorSister Joan O'Donnell, RSMBob OfenlochReverend Joseph O'ReillyBill & Carol ParenteJeffrey PeachinJohn PhillipsRuss PittoDenny & Michelle PowellWilliam & Gloria PowersAnderson PugashBishop Francis A. QuinnFlora RaggioNancy ReardonSister Shari Roeseler, RSMMerry RogersFrank L. & Pamela RolloBarbara RomeroAlan & Susan RothenbergEdmond RyanJacquelyn SarrailleMary Lou SchooneMargaret SchrandElizabeth Shih & Robert BennettBob & Robyn SlakeyKurt & Mary Jane SligarDorothy SmithHelen SolinasGreg & Pamela SparksDianne & Bruce SpauldingPhilip & Jan StohrJ. Todd & Elizabeth StoneDesmond SullivanClaire SullivanRaymond SwiftSuzanne & Brian SwiftThomas & Linda TebbenKatie TeltoeMaryAnn Thode & Frank PappalardoYasmin TongIrene TonoganEdward & Mary TowersMonica TowersMark TrinidadMichael R. UhlJosé VegaGregory WolkamBeverly WalshClaire WhiteMichael & Bobbie WilseyWilliam Witte & P. Keiko SakamotoFei Fong Wong
Laurence WuMichio YamaguchiCheryl L. Zilka
OrganizationsAll Laundry LeasingAnonymousB.P.O.E. San Francisco Lodge No. 3Baker Williams Engineering GroupBank of America Matching Gifts ProgramBank of the WestBlue Shield of CaliforniaBroward Brothers, Inc.California Bank & TrustCarl Gellert and Celia Berta Gellert FoundationCatholic Health AdvocatesCatholic Healthcare WestCHP South Sacramento AreaCHP Valley DivisionCHP Yuba/SutterCHW - Greater Sacramento Service AreaCiti FoundationCole HardwareCommunity Dynamics, Inc.Community Economics, Inc.Community Health CharitiesCOSTCO WholesaleCountertops UnlimitedCPS Human Resource ServicesCullum & Sena, Attorneys at LawEast Bay Regional Park DistrictEnterprise Community PartnershipEvelyn & Walter Haas Jr. Fund
River Life Covenant ChurchRural California Housing CorporationRural Community Assistance CorporationSacramento MonarchsSacramento River CatsSafeway, Public Affairs N. CalSam's Club #6620San Francisco ZooSanrioSchools Mentoring and Resource TeamSee's CandiesSETA - HeadstartSF POA Community Service CommitteeSierra Health FoundationSimeon Commercial Properties, LLCSisters of Mercy, AuburnSisters of Mercy, BurlingameSisters of Mercy, Ministry with the PoorSisters of St. Francis, Redwood CitySnowline HospiceSolomon's PorchSt. Joseph Health SystemState of California - Housing and
Community DevelopmentSun Hills Community ChurchSunseri Construction Inc.The Community Foundation of Santa Cruz CountyThe Home Depot FoundationThe Kathleen & Terry Dooley FundThe San Francisco FoundationTreadwell & RolloUnion Bank of CaliforniaUSF-Campus MinistryVillage PharmacyWashington MutualWells Fargo FoundationWhisler Financial Group
Mercy HousingColoradoIndividualsRobert & Nancy AllenAnonymousGeorge ApodacaKathy BankertJanet BlairMarcy BrackBrian & Robin BrennanBrad BuchananJerome & Marie BuckleyPhyllis D. CahalanJames A. & Anne K. CoilWalter J. & Ellyn CoughlinCarl CoxHeide CrinoAlton CurryVirginia CzarneckiRonald G. De BellTim & Sarah De PumpoCathy DeaverMelissa J. DodsonAnna DomenicoBenedict & Fran DomenicoKim DrobnickJames & Mary ErixonJennifer & Rich ErixonSherira FernandesScott FilippiniMary FitzpatrickMichael & Theresa FordyceJames FullertonClaudia Gianetti & Robert WurmstedtLeonard & Christy HerronStephanie HoustonJim JohnsonKatherine & Tom KaleyYvette KammererSusan KirkpatrickBertil J. Lager & Dorothy Mills LagerKay Le FontiseDiane & Story LeavesleyKay LevinsonEvan MakovskyJohn MastroAngela E. MatthiasPam MaynardKevin & Moira McCabeJennifer McCoyThomas F. McCoy, Jr.Cynthia McNeilRobert MunroeMary Alice NavarroGesemia Nelson & Waymon LattimoreVirginia NicolaiJames & Mary NussbaumLaurie O'BrienPaul OldenburgHeidi OliveraLorraine OlsonPaul OsborneRobert PuyperBrian ReillyGrace RobbinsElena SaenzLucy SaenzDavid & Ann SakaiMichael & Angela Scanlan
Paul & Pat ScheurerBarbara J. ScullyDaniel & Deborah SiflingKathy SpradlingJodie TallmanEric Voogt & Alison GeorgeDianna M. WehusGlen & Betty WeissLinda WeissMark F. & Catherine G. WelchGerald & Sandra WischmeyerMichael & Marne WithersPatti & Paul ZecchiRick Zier
OrganizationsAll Souls Catholic ChurchAve Maria Catholic ChurchBallantine Family FundBoettcher FoundationBowers PhotographicsBuchanan Yonushewski Group, LLCCascade Financial Management, Inc.Casson Duncan ConstructionCity of Commerce CityColfax Community NetworkColorado Association of Realtors Housing Oppor-tunity Fdn.Colorado Business BankColorado Housing & Finance AuthorityThe Colorado TrustCommunity Capital CorporationCydney and Tom Marsico Family FoundationD & S Landscaping, LLCDenver Archbishop's GuildThe Denver FoundationEnterprise Community PartnersExcel Environmental, Inc.Fannie MaeGevityGolesh Door LLCHahn Family FundHD Supply Facilities ManagementHelen K. and Arthur E. Johnson FoundationHerron Enterprises USAICA DenverThe James Family FundJPMorgan ChaseKamlet Shepherd Reichert & MaesKeyBankLocal Initiatives Support Corp.LocktonMountain States Title CorporationNorthern TrustThe PBJ Reece Charitable FundPoint to Point ElectricPulte Mortgage LLCRedPeak PropertiesReznick Group, PCThe Sam S. Bloom FoundationSource Management, Inc.St. Frances CabriniTim Sabus & Company, Inc.The TJX FoundationU.S. BankUMB BankVirginia W. Hill FoundationWachovia FoundationWells Fargo Home MortgageWestern States Fire ProtectionWhole Foods MarketXcel Energy Foundation
Mercy Housing IdahoIndividualsJeff & Patricia AgenbroadAmy BarrutiaGail Barrutia-KovashBeatrice BlackMarvin & Mary BloughJim & Linda BratnoberSteve CoxMary Ann FarrellMary Ann Freitag-TaylorJulie GalbraithRichard & Susan GardnerReverend Monsignor James HallisseyJohn & Peggy McMahonKaren & James MooreAlan MullinsJ. Craige & Toni NaylorAnthony OlbrichJane E. Pavek-Link & Robert P. LinkTeresa ProwSister Michon Rozmajzl, RSMNancy SalyerGlenn & Linda SchumacherKenneth G. ShermanRichard & Carole SkinnerMichael & Stephany SmithPaul & Beth SmithElizabeth StonemanMaurice & Roxy TherrienWayne & Wilma ThomasJames R. TomlinsonAnne W. ToothakerAlice WhitneyKathy WintertonVirginia L. Zimmerman
OrganizationsAlbertsonsAPEX ContainerBank of AmericaBank of America Charitable FoundationEdwards Chiropractic OfficesFannie MaeFannie Mae Partnership OfficeFarmers National BankFederal Home Loan Bank of SeattleFirst Federal BankHodges Law Office, PLLCHome Federal Savings and LoanIdaho Housing and Finance AssociationThe Lightfoot FoundationMcAuley Ministry FundMercy Medical CenterObenchain InsuranceOur Lady of the RosaryPioneer Title Company of Canyon CountySterling Savings BankTitleOne Corp.Tri StateU.S. Bank, BoiseU.S. Bank, RenoUnited States Department of
Agriculture-Rural DevelopmentWashington MutualWells Fargo Bank Northwest, N.A.Wells Fargo Community Support CampaignWeyerhaeuserThe Whittenberger FoundationZions Bank
Mercy Housing Annual Report 200733
Intercommunity Mercy HousingIndividualsCarol AllenAnonymousBill ApleyHeidi ArthurDorothy & R. A. AtkinsRobert BaldwinConnie M. BallantyneTimothy W. BarrWinifred McGuire BeckerDannie BrewerNancy BrickellAnita BroderickMary BrownStephanie BrownGail BrownMarsha BulyThomas & Shu Cheng ChanPaul Chiocco & Doug McCraryStan ClarkMaureen & Steve ClineRonald & Linda ColemanEstate of Margaret Mary ConnellJohn & Catherine CottonLois A. CoumbsJudith O. CrissDenis CurryRoger DalzellJennifer & William DaughertyPatricia De GroodtNancy Wong & Tom DeckerSister Susan Dewitt, CSJPGrace DiazDina R. DixonLee & Rene DoranThereasa DowneyAnita M. DunhamPatricia DurhamPhillip EscandonBill EvansJoan EwingM. Bernadette FarrellJennifer A. FergusonMaria FloresBruce ForemanKatherine M. FortSarah FrankenbergAnne Marie P. FrisbyMoriah FrisbyLouise S. FryEstel GarcilaLois M. GloydKathleen GormallyJane Graf & Rich WilliamsonLisa GrahamKatherine B. GrayDean GregoriusKenneth & Joan GrieserJeannie & Jeff GruberPaul GrudisAdam GrudisTeresa HaighElizabeth HansenLori C. HauserSister Linda Haydock, SNJMAutumn Haywood
John HeagleDon & Carol HenryMatthew HerinckxVirginia M. HesslerMax HinshawMary S. HofstedtJanice HolkupCheron & Howard HolmanToni HoughtonSharon HughesKaren HuntDiane IndiveroJim & Catherine IrbyCheryl JonesKara JovagKaren E. KantorErnie KawamotoRoxana KempEarl KiddSister Michele Kopp, OPMadonna KrelcelMary Lou LaPierreGail LarsonEric & Heather LawsonSister Yvonne LeBlanc, SPWilliam & Laurita LehtinenLauren & Jane LuckeMargaret N. MachlanMike MalveauxRichard E. McAlisterJim McGowanJohn & Mary McNamaraLucy MeyerHelen MeyerClaudia MorganChase MorrisDavid MullinsCindy NelsonAndrea NenzelParke & Mary NietfeldNancy NordhoffJulia PadenTereasa PalmerKathryn M. ParkerJane PerryRobert L. PetersonMichael PettyLawrence PfalzerMonica PhilbinCarolina PhilbinJean ProffittSondra J. PurcellJoseph & Kirsten QuinnAdrienne QuinnDavid & Margaret ReadDebbie & Leo RegalaSister Kathleen Reilly, OPAlice ReimoldDon RiddellStephen & Karen RidlonKaren RossmanBeatrice A. RoyStephen SaundersAnna SchlechtPatti ScottMaurice & Judith SheridanJanene SiersDorothy SkerbeckCarol SlomanCharlotte K. SmithGlen & Mary SmithKristina Smock
Clarence SpiesLee StantonJudith StoloffBrenda J. StrattonPeter & Ria StroosmaEarl SutherlandMegan SyversonHelen M. TafejianMichael & Barbara ThelenSister Charlotte Van Dyke, SPRob & Michelle Van TassellLeah VanderstoepAdam VogtSusan WebbElizabeth WeilHoward WeinbergBonnie WestMary WilliamsEd WrenWalter & June Zisette
OrganizationsAdrian Dominican SistersAppian Way ApartmentsAppleBee'sBank of AmericaBank of America Matching Gifts ProgramBeacon Development GroupBeresford Booth PLLCBill & Melinda Gates FoundationBliss Investments & Wealth Care, Inc.Butler Charitable TrustCapital City Newcomers ClubCapital PlayhouseCarmelite Monastery of SeattleCity of TacomaCoca Cola Bottling CompanyColeman, Williams & WilsonConstruction Enterprises & Contractors, Inc.Cooper Levy TrustCOSTCOCreative Living ClientsDominican Sisters of TacomaEmployees Community Fund of Boeing Puget SoundEngineered SoftwareEnterprise Community PartnersExchange Club of EdmondsFidelity Charitable Gift FundFranciscan Health SystemFred MeyerFriendly Flower Garden ClubGroup Health CooperativeHomestead CapitalHomeStreet BankIHOPImpact CapitalIntercity TransitIrving A. Lassen FoundationJames R. Braun & AssociatesJunior League of OlympiaKiwanis Club of North ThurstonKiwanis Club of OlympiaKiwanis Club of TumwaterL & E BottlingLacey Sunrise Lions ClubLucky Eagle CasinoMariners Care CommunityMartin Family FoundationMcDonald's RestaurantMedina FoundationNations Social Services
OBEE Credit UnionOlympia Federal Savings and Loan AssociationOlympia Host Lions ClubOlympia West Lions ClubOutback Steak HousePacific Science CenterPanda ExpressPaul G. Allen Family FoundationPepsico FoundationProvidence Everett Medical Center -
Colby CampusProvidence Health & ServicesPuget Sound Energy FoundationRainier Pacific BankRed RobinRed Wing Shoe StoreRes-Care Washington (Creative Living Services)RPS CarpetsRussell Investment GroupSeattle FoundationSisters of ProvidenceSisters of St. Joseph of PeaceSouth Puget Sound Rotary Charitable FundSterling Savings BankTargetThe Norcliffe FoundationThe Olive GardenThe Print ShopTony Roma'sTulalip TribesU.S. BankUnited Methodist WomenUnited Way of King CountyUnited Way of Pierce CountyUnited Way of Snohomish CountyUnited Way of Thurston CountyUnity Church of OlympiaVenture BankWal*Mart #2249Walsh Construction Co.Washington Families FundWashington Mutual Foundation
Washington Mutual, Corporate and Employee Giving
Washington State Parks and Recreation Department
Washington Women's FoundationWells FargoWells Fargo FoundationWhatcom Community FoundationWholesale Furnishings DirectWilliam Kilworth FoundationWilliam Traver Gallery — TacomaWomen's Funding Alliance
Mercy HousingLakefrontIndividualsAnonymousAkeem AdebayoTed AmdurRobert & Vicki ApatoffBennett & Sheila ApplegateRishi AroraCarlos & Lindsey ArtolaRichard & Janice BailRobert BantaMichelle BeemGregg & Ann BehrensHarry & Patricia BenjaminHoward BermanStella BlackTed & Sonia BlochMichael & Nancy BordersBlake BrasherRenton & Mary BrodieJennifer BrownDeborah BrownChris & Susan BurkeBrian BurkeAnn & Richard Carr
Mercy Housing Annual Report 200735
Walter & Teresa CercavschiJeannine Cleary & Frank TenbrinkMichael & Loretta CluneJohn CluneKathryn & Steven ColeRobert & Susan DahlstromSister Marcian DeisenrothJames & Charlotte DelaneyGordon DenboerDirk DenisonDoug Dobson & Zenat VakiliAnne DuncanHelen DunlapElizabeth & Theodore EckertDavid & Deborah EpsteinJennifer FabianJennifer FeuerMary Alice FlavinMichelle FriedmanH. Rick & Katherine FumoWilliam & Helene GardnerMelissa & James GillespieEmmett GlynnCarolyn GourashCaroline GravesBrian GregoryTheresa Gross-Diaz & William DiazVincent GutekanstEstate of Louise HaackBarbara & Allen HaileyJeffrey & Renee HallShannan HarriganHarold & Sharon HayesToni & John HenleJeffrey & Toby HerrDonald HeyHarold Hirshman & Lorie ChaitenCindy HollerAlexandra Holt & Thomas SerafineTerrance & Virginia HoltRhonda & Keith HoppsRobert & Susan HoustonMichael & Madeline HughesRobert & Saran HutchinsEd & Laurie JacobKaren JacobsonJohn & Martha JarboeLuzetta JonesDebra KlebanJoyce KnauffKenneth & Mary KraussValerie & Keith KretchmerDavid LanghamerMoses LeeDebra LewisRobert & Carol LiftonLaurel LipkinChris LonnRobert & Gail LovemanRicky LucasClaudia LuebbersMargaret LytleRose MabwaSusan MagarChristine MakarewiczHenry & Cheryl MakarewiczMaynard MarksReynold MartinJohn & Bozena McLeesRitz MeltzerLynn MeyersDaniel & Michele Miller
Bryan & Adrienne MittelmanDaniel MorrisJohn & Cheryl NealNancy NeedlesJohn O'Donnell & Bonnie HumphreyYvonne OrrB. Andrew PalecMichael PalmerNorman & Jacqueline PatinkinW.B. PeschJohn & Susan PowellD. Elizabeth PriceEstate of Sylvia RadovChristopher RedpathGail RiggsJill & Ronald RohdeAdam & Ellen RomeiserAnne RorimerJanet RossiCharles & Louise SaltzmanGerald & Eunice SchalkMargot & Harold SchiffJohn & Kathleen SchreiberMia & Matthew ScholzThomas SchuchRobert & Pauline SchwarzCharles & Beth SeenSuellen SemekoskiMaryAnn ShanleyJames & Joan ShapiroCarolyn Shapiro & Joshua KarshAndrew & Julie ShawHoward & Roberta SiegelMichelle SimmonsMary StaffordRandy StarbirdSylvia StecJanet StivenRichard & Lois StuckeyRobert & Pamela SullivanScott SzalaFrancis & Karen TanseyCharlie TobinRichard & Barbara VaneckoMichael & Marilyn VenderDonna WahlJennifer WalterMartha & Daniel WeinfurterScott WentworthP. Kay WhitlockJane WicklundMerrill WilderEric & Colleen WileyLois WolfMichael Wood & Katharine McJimseyAnn WoodwardVioletta WoznickaMariusz ZaleskiRobert & Carolyn Zonar
OrganizationsAllstate Giving CampaignAnonymousBank of AmericaBlue Cross Blue Shield of IllinoisBlum-Kovler FoundationCanon Business SolutionsChicago Community TrustChicago Department of Human ServicesChicago Public LibraryCitigroupCity of Chicago Department of Housing
Mercy Housing Annual Report 200737
City of Chicago Mayor's Office of Workforce Development
City of MilwaukeeClune Construction CompanyColumbia St. Mary'sCorporation for Supportive HousingCounty of MilwaukeeCRASH USADykema Gossett PLLCEnterprise Community PartnersFannie MaeFirst American Homeownership FoundationFrancis L. Lederer FoundationGoodSearch.comGreater Milwaukee FoundationHarris Family FoundationHelen Bader FoundationHelen Brach FoundationHuen Electric, Inc.Illinois Clean Energy Community FoundationIllinois Department of Commerce and
Economic OpportunityIllinois Department of Human ServicesIllinois Secretary of State OfficeKingston MinesLaSalle BankLittle Flower FundLocal Initiatives Support CorporationMcMaster-Carr Supply CompanyMissionary Sisters of the Holy SpiritNorth Side Federal Savings & LoanPatrick and Anna M. Cudahy FundPolk Bros. FoundationProvena HealthRobert R. McCormick Tribune FoundationSeder Family FoundationShoreBank CorporationSisters of St. Francis of AssisiSt. Paul's United Church of ChristThe Annie E. Casey FoundationThe Northern Trust CompanyThe Rhoades FoundationThe Siragusa FoundationU.S. Bancorp FoundationU.S. BankU.S. Department of Housing and
Urban DevelopmentW.P. and H.B. White FoundationWells Fargo Foundation of Greater MilwaukeeWhite Crane Wellness CenterWieboldt Foundation
Mercy HousingMidwestIndividualsCatherine BasilicoPolly & Pat BegleyThomas & Catherine BoxleiterTeresa BredarFather Terry T. BruceAmanda J. BuchholzBobbie J. CallahanVirginia R. CookRonald & Mary Kaye EggersTodd & Amy FeltzGenevieve FriendRoger & Jo Ann GerstnerJohn F. & Joyce E. GibbsMr. & Mrs. Thomas S. HallMary Jo Havlicek
Tom & Margaret HoartyBeatrice JacquesGeorge & Margaret JohnsonAnne Marie KennyMs. Rita M. KesslerAlois J. KoschReverend Eugene C. KutschMike & Sharon LawlerMary LindsayJonathan LippincottDavid & Merleen LiskoGernon & Donna LongoJohn MaloneyReverend John O. McCaslinJoe & Mary Lou McGinnRobert & Mary Pat MocklerRenee & Richard O'BrienPat and Peggy O'MalleyWayne & Sarita PenkaTucker Plumstead & Vicki TurnquistSister Rita Ann Podhola, RSMMr. and Mrs. Ken Reed-BouleyBeverly L. SartonBarry & Susanne ScheinostMarlan and Barbara SimpsonDennis L. SmidJohn & Paula SmolenKatherine TownsendMichael & Alyce VilloneDennis Walsh
OrganizationsGrandmothers, Inc.Iowa West FoundationLS Commercial Real EstateMercy High SchoolOmaha Community FoundationSt. Leo ChurchSt. Margaret Mary ChurchUnited Way of the MidlandsWorlds of Fun/Oceans of Fun
Mercy HousingSoutheastIndividualsCecil & Lou AbarrSister M. Brigid Buttimer, RSMBill & Kathleen FlammerThomas & Doreen GladisRobin L. HaddockSister Susan Harms, RSMBill HerringtonHarlan HostetterWalter & Peggy MurphyKathryn M. Rock & Rick F. SamsonJim & Janet StevensonAdrienne Tillman
OrganizationsBank of America Charitable FoundationThe Chatham FoundationColonial Foundation, Inc.Coyle Business ProductsCuyler-Brownsville Neighborhood AssociationDiocese of SavannahEast Lake Foundation, Inc.Fannie MaeHollingsworth Funds, Inc.Lowe's
Mackelfresh & AssociatesThe Mary E. Haverty FoundationMichael's Tonsorial ParlorOliver's Barber ShopPiggly WigglyPublix Super Markets, Inc.QuiznosSam's ClubSavannah Sand Gnats OrganizationSisters of Mercy, BaltimoreSisters of Mercy, Columbus, GASisters of Mercy North Carolina FoundationSt. Joseph's Candler Health SystemSt. Joseph's Health SystemStar Contracting, Inc.SunTrust Bank, AtlantaThe Flying FrogsThe Junior League of Savannah, Inc.Wachovia Bank, N.A.Wachovia FoundationWalmart
Mercy HousingSouthwestIndividualsBethany AndrewsKathy BrownSteve CalabreseTed CollinsJanice DunseathGail Sandra EllisTim FaithTom FitzpatrickJames FullerThomas GendronRichard & Debbie GregorySusan GregoryRussell & Susan HeighRandolph & Lena HollingsworthPrasanna JacobAlicia KellyLena KellyLinda KinzerDoug LarsonRachel LopezSandford MappaGraciela MartinezMichelle MeadersMaryanne MognoniLaur NaranjoJoan NoelSherry NolenMartha OrnerEddie PapanoCynthia PattersonLynne PaulMary PeggLorenzo PerezLeo & Hermine PhilippeHava PiricHeather PrenticeRodolfo ReyesJohn W. & Doris RiehmPaula RundgrenZachary SullivanTammy SylvesterShelly WinkleyMaria WittenAubrey Woolsey
OrganizationsAmerican Student Loan ServicesAmerica's CharitiesArizona Cardinals FoundationArizona Community FoundationArizona Department of TransportationBanner HealthcareBullit AutomotiveCaresight PharmacyCatholic Healthcare WestCity of MesaCity of PhoenixCostco WholesaleCox Communications CharitiesDesert ZephyrFry's Food and DrugHalf Moon RestaurantsHarkins TheatresJoshua TreeLandAmerica Lawyers Title of Arizona, Inc.Larson VendingMaricopa County Health DepartmentNetwork for GoodParadise BakeryParenting of ArizonaSafewaySalvation Army of ArizonaSeason for SharingSecure Horizons HealthcareStarbucks Store #5377State of Arizona-Department of EducationState of Arizona-Department of Health ServicesSt. Mary's and Westside Food BankStreets of New York RestaurantsSweet Tomatoes RestaurantTargetTown of AvondaleUnited Food BankUniversity of Arizona-Cooperative ExtensionUS AirwaysValle del SolValley of the Sun United WayWal*MartWhitneybell Architects
Mercy Loan FundMercy Loan Fund thanks our 2007donors and current investors for thefunds that enable local organizations todevelop affordable housing in theircommunities. We thank our borrowers,who with these funds, strive to meet ournation’s housing challenges.
Organizations786 FoundationAdorers of the Blood of Christ, U.S. Province
(St. Louis, MO)Adrian Dominicans (MI)AnonymousArchdiocese of Omaha (NE)The Associated Sulpicians of the United StatesAtlantic-Midwest Province Endowment
Trust (Baltimore, MD)Benedictine Convent of Perpetual Adoration
(Clyde, MO)Benedictine Sisters of Covington, KentuckyBenedictine Sisters of Mount St. Scholastica
Mercy Housing Annual Report 200739
Bernardine Franciscan Sisters (King of Prussia, PA)
Brothers of the Holy Cross of Eastern Province USA Inc. (New Rochelle, NY)
Calvert Social Investment FoundationCarmelite Sisters of Charity (Brooklyn, NY)Catholic Biblical Association of AmericaCatholic Charities USA (Alexandria, VA)Catholic Health InitiativesCatholic Healthcare WestChristian Brothers of Denver (CO)Claretian Missionaries (Chicago, IL)Congregation of Divine Providence
(Melbourne, KY)Congregation of Sisters of St. Agnes
(Fond du Lac, WI)Congregation of Sisters of St. Joseph of
Springfield (Holyoke, MA)Congregation of St. Joseph (Cleveland, OH)Congregation of the Daughters of Divine
Charity (New York, NY)Congregation of the Mission in CaliforniaCongregation of the Passion, Holy Cross
Province (Chicago, IL)Congregation of the Sisters of Charity of the
Incarnate Word (Houston, TX)Congregation of the Sisters of St. Joseph of
Peace (Englewood Cliffs, NJ)Congregation of the Sisters, Servants of the
Immaculate Heart of Mary (Scranton, PA)Conrad N. Hilton Fund for SistersConvent of the Sisters of St. Joseph,
Chestnut Hill (PA)Daughters of Charity, East Central (Evansville, IN)Daughters of Charity, West Central
(St. Louis, MO)Daughters of the Holy Spirit Charitable TrustDominican Congregation of St. Catherine de
Ricci (Elkins Park, PA)Dominican Sisters of Great Bend (KS)Dominican Sisters of Hope (Newburgh, NY)Dominican Sisters of Mission San Jose
(Fremont, CA)Dominican Sisters of Oakford (CA)Dominican Sisters of San Rafael (CA)Dominican Sisters of Saint Catharine (KY)Episcopal Diocese of IowaFannie MaeFather Judge Charitable Trust Franciscan Friars-Province of St. John the Baptist
(Cincinnati, OH)Franciscan Friars – TOR of Hollidaysburg, PAFranciscan Sisters of Little Falls, MNFranciscan Sisters of Mary (St. Louis, MO)Franciscan Sisters of Perpetual Adoration
(LaCrosse, WI)Funding Exchange EndowmentFunding Exchange Pooled FundGlenmary Home MissionersGrey Nuns of the Sacred Heart (Yardley, PA)Hospital Sisters of St. Francis - USA, Inc.
(Springfield, IL)I.H.M. Congregation Charitable Trust
(Scranton, PA)Jesuits of the Missouri ProvinceJPMorgan Chase FoundationKatherine Perls TrustLederer Properties Ltd.Little Company of Mary Sisters
(Evergreen Park, IL)Maryknoll SistersMedical Mission Sisters (Philadelphia, PA)Mercy Partnership FundMissionary Servants of the Most Holy Trinity
(Silver Spring, MD)
Missionary Sisters Servants of the Holy Spirit (Techny, IL)
Missionary Society of St. Paul the Apostle (Jamaica Estates, NY)
MMA Community Development Investments, Inc.National Association for Treasurers of Religious
Institutes, Inc.Northern TrustNorth American Province of the Cenacle
(Chicago, IL)Occupational Training Services, Inc.Our Lady of Victory Missionary Sisters
(Huntington, IN)Perrault Family Survivor TrustProvince of St. Augustine of the Capuchin
Order (Pittsburgh, PA)Racine Dominicans (Racine, WI)Redemptorists-Denver Province (CO)Religious of the Assumption North American
Province (Philadelphia, PA)Religious Sisters of Charity (Culver City, CA)Client of Rikoon Carret Investment AdvisorsSacred Heart Monastery (Yankton, SD)School Sisters of Notre Dame, Mankato ProvinceSchool Sisters of Notre Dame, MilwaukeeProvinceSchool Sisters of St. Francis - US ProvinceServants of Mary (Oak Creek, WI)Servants of the Blessed Sacrament
(Waterville, ME)Seton Enablement Fund, Inc.Sisters of Bon Secours (Marriotsville, MD)Sisters of Charity of Leavenworth (KS)Sisters of Charity of Leavenworth Health
System (KS)Sisters of Charity of Nazareth (KY)Sisters of Charity of Saint Elizabeth
(Convent Station, NJ)Sisters of Charity of the Blessed Virgin Mary
(Dubuque, IA)Sisters of Loretto (Nerinx, KY)Sisters of Mercy of the Americas
(Silver Spring, MD)Sisters of Mercy of the Americas New York,
Pennsylvania, Pacific West Community, Inc.Sisters of Mercy of the Americas Northeast
CommunitySisters of Mercy of the Mid-Atlantic
Community, Inc.Sisters of Mercy, Auburn (CA)Sisters of Mercy, Burlingame (CA)Sisters of Mercy, Cedar Rapids (IA)Sisters of Mercy, Chicago (IL)Sisters of Mercy, Omaha (NE)Sisters of Mercy, St. Louis (MO)Sisters of Notre Dame de Namur,
California ProvinceSisters of Notre Dame of Chardon, OhioSisters of Notre Dame, Thousand Oaks,
CaliforniaSisters of Providence, Mother Joseph Province
(Seattle, WA)Sisters of Providence of Saint Mary-of-the-Woods
(IN)Sisters of St. Dominic of Akron, Ohio
Retirement FundSisters of St. Francis (Oldenburg, IN)Sisters of St. Francis Charitable Trust
(Santa Maria, CA)Sisters of St. Francis of Dubuque (IA)Sisters of St. Francis of Millvale, PA Sisters of St. Francis of Philadelphia (PA)Sisters of St. Francis of Rochester, MinnesotaSisters of St. Francis of Savannah, MissouriSisters of St. Francis of the
Immaculate Conception (West Peoria, IL)
Sisters of St. Francis of Tiffin, OhioSisters of St. Joseph of Carondelet, Albany
Province (Latham, NY)Sisters of St. Joseph of Carondelet, Generalate
(St. Louis, MO)Sisters of St. Joseph of Carondelet,
Los Angeles ProvinceSisters of St. Joseph of Carondelet,
St. Louis ProvinceSisters of St. Joseph of Concordia (KS)Sisters of St. Joseph of LaGrange (IL)Sisters of St. Joseph of Orange (CA)Sisters of St. Joseph of Tipton (IN)Sisters of St. Louis, California RegionSisters of the Holy Cross (Notre Dame, IN)Sisters of the Holy Family (Fremont, CA)Sisters of the Holy Names of Jesus and
Mary U.S. – Ontario ProvinceSisters of the Humility of Mary HM Alternative
Loan Fund (Villa Maria, PA)Sisters of the Most Precious Blood (O'Fallon, MO)Sisters of the Order of St. Benedict (Rock Island, IL)Sisters of the Order of St. Dominic, Amityville (NY)Sisters of the Presentation of the Blessed Virgin
Mary (New Windsor, NY)Sisters of the Sorrowful Mother International
Finance, Inc. (Brown Deer, WI)Sisters of the Visitation of the Immaculate Heart
(Dubuque, IA)Sisters Servants of the Immaculate Heart of Mary
(Monroe, MI)Society of Mary (Dubuque, IA)Society of the Divine Word, Chicago Province (IL)Society of the Holy Child Jesus (Drexel Hill, PA)Society of the Precious Blood (Dayton, OH)St. Joseph Health SystemThe Suzanne LaFetra TrustClients of Trillium Asset ManagementTrinity HealthUrsuline Provincialate, Central Province of the
United StatesUrsuline Sisters of Mount St. Joseph
(Maple Mount, KY)Ursuline Society and Academy of EducationUS Bancorp Community Development CorporationUSDA Rural DevelopmentVisitation Monastery of St. Louis (MO)Clients of Walden Asset ManagementWeston Priory (Weston, VT)Wheaton Franciscan Sisters Corp. (Wheaton, IL)
IndividualsLee AdlerAnonymousJackie BromleyAlison ConantAnne ElseMary Ann GoodnerAnne HoffmanJanet KranzbergAnn Marie JudsonArthur and Susan LloydSandy MabenPatria PettaXavier and Penelope Pi-SunyerSandy PolishukJane ShapiroBarbara SmithKenneth SmithByron and Elizabeth StookeyJ.A. and Eleanor WarzohaJudith WeinstockJoseph and Barbara Willging
BorrowersAdams County Housing Authority (CO)The Affordable Housing Group of North
Carolina, Inc. (NC)AIDS Housing Alliance (CA)Albemarle Housing Improvement Program (VA)Alethia House (AL)American Housing Opportunity Fund (DC)Andrew Gardens, Inc. (IN)Associated Catholic Charities (OK)Bethphage Mission, Inc. (NE)Better Housing Coalition of Richmond (VA)Beyond Shelter Housing, Inc. (CA)Boulder County Housing Authority (CO)Boulder Housing Partners (CO)Brother’s Redevelopment, Inc. (CO)Cabrillo Economic Development Corporation (CA)Center for Independent Living
Development, Inc. (CO)Chesney-Kleinjohn Housing, Inc. (CO)Chestnut Neighborhood Revitalization Corp. (TX)Child & Migrant Services, Inc. (CO)Colorado Bluesky Enterprises, Inc. (CO)Colorado Rural Housing Development
Corporation (CO)Colorado Veterans for Housing, Inc. (CO)Columbia Cascade Housing Corporation (OR)Community Housing Development
Association, Inc. (CO)Community Housing Improvement Systems
& Planning Association, Inc. (CHISPA) (CA)Community Preservation and Development
Corporation (DC)Community Services Agency Development
Corporation (NV)Community Services of Arizona (AZ)Council on Sexual Assault & Domestic
Violence (IA)Dallas City Homes, Inc. (TX)Denver Indian Center (CO)The Duncan Group (CA)East Central Kansas Economic Opportunity
Corporation (KS)Eldercare 2000, Inc. (CO)Elkhorn Valley Community Development
Corporation (NE)The Empowerment Program, Inc. (CO)Episcopal Community Services of San
Florida Low Income Housing Association (FL)Franklinton Development Association (OH)Friendly Neighbors Cooperative
Association, Inc. (DC)Gardenside Terrace Cooperative, Inc. (IN)Golden Home Corporation (CO)Grace Partners (NV)Grand County Housing Authority (CO)Greccio Housing Unlimited, Inc. (CO)Greenwood Apartments, Inc. (IN)Guadalupe Neighborhood Development
Corporation (TX)Habitat for Humanity of Bucks County (PA)Heartland Housing Initiative (IA)Home Opportunities Made Easy, Inc. (HOME) (IA)Hope Communities, Inc. (CO)Hope House of Colorado (CO)Housing and Neighborhood Developers, Inc.
(HANDS) (NE)Housing Authority of the City of Leadville,
ColoradoHousing Authority of the Town of Yuma (CO)Human Resources Council District XII (MT)Inner City Community Development Corporation
(CO)Intercommunity Housing (WA)Jasper County Neighbors United (SC)Lakefront Supportive Housing (IL)Las Marias Cooperative, Inc. (DC)Leisureville Community Association, Inc. (CA)Lumber River Housing Development, Inc. (NC)Lutheran Social Services of Colorado (CO)Mainstream Housing, Inc. (OR)Merced Housing Texas (TX)Mercy HousingMercy Management Services (CO)Mid Peninsula Housing Coalition (CA)MidAmerica Housing Partnership (IA)Mt. Auburn Housing, Inc. (OH)Missoula Housing Authority (MT)Mount Moriah Development
Corporation, Inc. (OH)Mountain Regional Housing Corporation (CO)Mountain United Church Housing, Inc. (CO)National Affordable Housing Network (MT)National Caucus and Center on Black Aged, Inc.
(DC)Neighborhood Partners, Inc. (CO)
NEWSED Community Development Corporation (CO)
Northeast Denver Housing Center (CO)Opportunities for Neighborhood Empowerment
Company, Inc. (ONE Co.) (CA)Opportunities Industrialization Centers (PA)Oti Kaga, Inc. (SD)Peoples' Self-Help Housing Corporation (CA)POSADA (CO)Preservation of Affordable Housing, Inc. (MI)Progressive Redevelopment Inc. (GA)Providence Network, Inc. (CO)Rocky Mountain HDC, Inc. (CO)Rural California Housing Corporation (CA)Rural Housing Inc. (NM)Sabin Community Development Corporation (OR)San Antonio Alternative Housing Corporation (TX)San Diego Community Housing Corporation (CA)San Luis Valley Farm Labor Housing Coalition (CO)Self Help Housing Corporation of Hawaii (HI)Senior Housing Options, Inc. (CO)Single Room Occupancy Housing Corporation (CA)Sioux Falls Environmental Access (IA)Soledad Local Development Corporation (CA)Southern Mutual Help Association, Inc. (LA)Step Stone, Inc. (KS)Sterling Housing Authority (CO)Summit County Housing Authority (CO)Tierra Del Sol Housing Corporation (NM)Tri-County Housing and Community Development
Corporation (CO)Trinity Village Nonprofit Housing Corporation (MI)United Methodist Outreach Ministries (AZ)United Ministries of Northeast Omaha, Inc. (NE)USA Properties Fund, Inc. (CA)Valley Assisted Living, Inc. (CO)Vitality Center (NV)Wakeland Housing and Development
Corporation (CA)Washtenaw Affordable Housing Corporation (MI)West Central Housing Development
Organization (CO)Women Organizing Resources, Knowledge and
Services (W.O.R.K.S.) (CA)Wyoming Housing Opportunities Association, Inc.
(WY)Yamhill Community Development Corporation (OR)Yankton Sioux Housing Authority (SD)
National OfficeMercy Service Corporation
Mercy Loan Fund1999 Broadway, Suite 1000
Denver, Colorado 80202303.830.3300
Mercy Housing CaliforniaSan Francisco Office
1360 Mission Street, Suite 300San Francisco, California 94103
Los Angeles Office1500 S. Grand Ave., Suite 100Los Angeles, California 90015
Sacramento Office3120 Freeboard Drive, Suite 202
West Sacramento, California 95691916.414.4400
Mercy Housing Colorado1999 Broadway, Suite 1000
Denver, Colorado 80202303.830.3300
Mercy Housing Idaho540 North Eagle Road, Suite 117
Eagle, Idaho 83616208.939.6838
Intercommunity Mercy Housing2505 Third Avenue, Suite 204
Seattle, Washington 98121206.838.5700 Printed on recycled paper
Mercy Housing Lakefront247 S. State Street, Suite 810Chicago, Illinois 60604312.447.4500
Mercy Housing Midwest6816 S. 137th PlazaOmaha, Nebraska 68137402.393.2096
Mercy Housing SouthEastAtlanta Office621 North Avenue, Suite A-150Atlanta, Georgia 30308404.873.3887
Savannah Office1826 Florance StreetSavannah, Georgia 31415912.401.0008
Mercy Housing SouthwestPMB 2564802 E. Ray Road, Suite 23Phoenix, Arizona 85044602.952.9525
National Lending and Consulting Office1101 30th Street NW, Suite 250Washington, DC 20007303.830.3462