Sunday, June 24, 2007

Shady Dealings or Failed Business Venture?

As the US Department of Justice investigation continues into the business practices of the administration of Decatur Memorial Hospital, I have been anxious to see what the latest tax return will show when it comes out sometime in the next 30 days. Will the "soon-to-be-indicted" administrators reward themselves with even more money while the employees benefits are cut once again? How will the books look this time around?

In between customers, I've been checking Guidestar.org to see when the next creative writing example is available. While browsing, I came across a very interesting little "not-for-profit" organization called TWO MILES NORTH.

TWO MILES NORTH has the following people in it's employ: Kenneth Smithmier, Timothy Stone, Gary Peacock, and John Cobb (Paul Eissfeldt has also been in the past.) All these names, coincidentally, are also present on the list of board members for Decatur Memorial Hospital.

TWO MILES NORTH was set up in the early 90s (long before Ken Smithmier and Co. came to town) as a way to help support the hospital through the ownership of rental properties. From 1991 until 1998, the organization collected hundreds of thousands of dollars. However, the organization's $13,000.000+ worth of assets mysteriously disappeared on the 1999 tax return. Since that date, there has been no recorded income for the organization.

Questions: Where did the money go? What happened to those rental properties? If they still exist, where is the rental income from them? If the properties have been sold, why is the organization still in existence?

If anyone would happen to know anything about this, please comment.