The Lakewood Hospital Foundation Has Been "Repurposed"
Posted: Mon May 16, 2016 6:30 am
Language has been added to the Foundations charter that changes the mission of the Foundation from being Lakewood Hospitals fundraising arm to providing funding for development in Avon, Twinsburg, Mentor and other local communities.
Ken Haber has been quoted as saying that the new mission will allow the Foundation to support development in local communities throughout Northeast Ohio. In a rare moment of candor Councilman Juris admitted that much to me over a year ago.
The Foundations net assets at 8/15/15 were about $33.5 million dollars. Those assets include funds raised by the Vision of Tomorrow and the Ambulance Chase.
The $33.5 million in Foundation assets were included in Lakewood Hospitals financial statements as assets of the Hospital. The original operating agreement stated clearly that ALL of the assets of the Hospital BELONGED TO THE CITY OF LAKEWOOD.
In any other City at least one member of Council would demand some answers. The City just transfers the Foundation to the Cleveland Clinic without discussion or debate or a public vote? Poor Jimmy Dimora.
It has also been reported that the Hospital made $6 million in 2014. I have not seen those statements.
Our new "emergency room is losing about $300,000 per month.
Medical accounting sure is tricky.
A Hospital that makes money must be closed and converted to an "emergency room" that loses money. $90 million in City assets are transferred to the Cleveland Clinic without compensation and we are told that this is a great deal.
Of course the Clinic has made no guarantees about the level of service in Lakewood. How long after the deal is finalized will the Clinic decide there is no need for medical service in Lakewood? Judging by past behavior that decision has already been made, the Mayor is aware of that decision and all of the talk about the future of healthcare in Lakewood are just another layer of lies.
Ken Haber has been quoted as saying that the new mission will allow the Foundation to support development in local communities throughout Northeast Ohio. In a rare moment of candor Councilman Juris admitted that much to me over a year ago.
The Foundations net assets at 8/15/15 were about $33.5 million dollars. Those assets include funds raised by the Vision of Tomorrow and the Ambulance Chase.
The $33.5 million in Foundation assets were included in Lakewood Hospitals financial statements as assets of the Hospital. The original operating agreement stated clearly that ALL of the assets of the Hospital BELONGED TO THE CITY OF LAKEWOOD.
In any other City at least one member of Council would demand some answers. The City just transfers the Foundation to the Cleveland Clinic without discussion or debate or a public vote? Poor Jimmy Dimora.
It has also been reported that the Hospital made $6 million in 2014. I have not seen those statements.
Our new "emergency room is losing about $300,000 per month.
Medical accounting sure is tricky.
A Hospital that makes money must be closed and converted to an "emergency room" that loses money. $90 million in City assets are transferred to the Cleveland Clinic without compensation and we are told that this is a great deal.
Of course the Clinic has made no guarantees about the level of service in Lakewood. How long after the deal is finalized will the Clinic decide there is no need for medical service in Lakewood? Judging by past behavior that decision has already been made, the Mayor is aware of that decision and all of the talk about the future of healthcare in Lakewood are just another layer of lies.