About
Mercy Housing is a national nonprofit and one of the largest affordable housing organizations in the United States, headquartered in Denver, Colorado. Incorporated in 1981 by Catholic Sisters, it develops, preserves, manages, and finances affordable rental housing enriched with resident services for families, seniors, and people with special needs.
Mission
Mercy Housing's mission is to create stable, vibrant, and healthy communities by developing, financing, and operating affordable, program-enriched housing.
What they do
- Develop, preserve, and manage affordable rental properties
- Acquire and renovate existing housing
- Finance affordable housing through Mercy Community Capital
- Operate resident services programs — available at approximately 75 percent of properties — focused on health and wellness, after-school programs, financial stability, community involvement, and housing stability
History
Mercy Housing was incorporated on Christmas Eve, 1981, as a Nebraska nonprofit corporation, founded by Sister Timothy Marie O'Roark, a Sister of Mercy of Omaha, with an initial investment of $500,000 from communities of Catholic Sisters. Six communities of Catholic Sisters co-founded the organization, including two provinces of the Daughters of Charity, the Sisters of Bon Secours USA, the Sisters of Mercy of the Americas, and two Sisters of St. Joseph communities. The property management subsidiary Mercy Housing Management Group and the funding entity Mercy Community Capital were created in 1983, and Mercy Portfolio Services was established in 2009 to address the foreclosure crisis in Chicago.
Scale and impact
From an initial 310 units of affordable housing, Mercy Housing has grown to 48,218 households impacted. It operates through five regional offices serving its California, Lakefront, Mountain Plains, Northwest, and Southeast regions.
Financials
According to Form 990 data on ProPublica Nonprofit Explorer (fiscal year 2024), Mercy Housing Inc (EIN 47-0646706) reported total revenue of $46,466,606, total expenses of $47,861,327, and net assets of $81,451,936, with total assets of $502.7 million. The IRS recognized its 501(c)(3) tax exemption in February 1998.
Governance
Ismael Guerrero has served as President since 2020, following Jane Graf (2014-2020), Sister Lillian Murphy (1987-2014), and Sister Mary Terese Tracy (1981-1986).