Item 23 - Third Amendment to the Joseph House Loan Agreement and Affordable Housing Covena_20240530010439363

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EXHIBIT 1 Linda Wilson - Chief Housing Officer Linda graduated with a master's degree in counseling and is a Licensed Marriage and Family Therapist. She has many years of experience in the non-profit sector, including over 25 years at Mercy House. Linda has worked with diverse populations in both direct service and management positions. As Chief Housing Officer, Linda is involved in new development projects and manages the permanent housing programs playing an integral role in shaping the Mercy House model into a self-sustaining, replicable solution to homelessness and creating new housing opportunities for the agency. Elizabeth Perez - Regional Director of Housing Solutions Elizabeth Perez graduated with a master's degree in social work and a bachelor's degree in Social Welfare. She has more than nine years' experience in the non-profit sector, including over four years at Mercy House. Elizabeth has worked with diverse populations in both direct service and management positions. As Regional Director of Housing Solutions, Elizabeth manages a group of program managers and ensures that our various housing programs in Orange County met Mercy House's high-performance standards. Management of Finances Mercy House recognizes it is responsible for establishing and maintaining effective internal controls to ensure compliance with laws, regulations, contracts, and grants applicable to federal, state, local, and private funding. As a result, Mercy House has established fiscal accounting procedures in accordance with the Financial Accounting Standards Board (FASB) and as needed, GASB. Mercy House follows certain precepts in the conduct of its activities that include: • A Board of Directors to oversee business activities • Written policies for all accounting procedures and internal controls • Separation of accounting duties and responsibilities • Use software for accounting procedures that can track how grant money is spent • An annual outside audit after the fiscal year end (June 30) The objective of these practices is intended to: • Provide a reasonable assurance that all assets are safeguarded against loss by unauthorized use or disposition • Ensure all transactions are executed in compliance with management authorizations and are recorded properly and accurately in accordance with generally accepted accounting principles • Adequately maintain records and internal control procedures to ensure compliance with laws and regulations Mercy House has a full-time CFO and supporting accounting team, who are responsible for the following bookkeeping activities: managing accounts payable, cash receipts and payroll; preparing monthly financial statements and grant billings and assisting with the annual budget and audit. Our CEO oversees all financial activities. Our CFO and Deputy CEO will review financial statements and budgets with each Page 7 of 16