This week we have Wisconsin and the group in discussion is Reedsburg Area Medical Center, Inc. Some questions we have for this organization are:
Why did you take out a PPP loan for a total of $7.22M when the organization has over $50M net assets?
Why are your two top paid individuals (CEO $700k+ & Trustee $700k+) only working 21 hours per week collectively?
Why do you have pensions for $1.5M?
What is 24c Bad Debt expense for $1.2M?
Tell more about your Foundation and your Medical Center?
We reached out to the Reedsburg Area Medical Center, Inc in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the Reedsburg Area Medical Center, Inc should give the money back just like Fortune 500 companies did, but with a twist. Half going back to the government and the other half going back to Building Blocks for Kids. First Business Bank can give back any revenue made (penalty should double that amount) for creating this loan. Not sure what the government will do with their half, yet BBFK knows exactly what we will do with our portion.
Building Blocks for Kids would get a total amount of $3,600,000. Here is how that breakdown of that money will look like:
$3,600,000 for 120 classrooms in Wisconsin
Helping 120 teachers, over 3,300 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Reedsburg Area Medical Center, Inc #doBetter and with this amount we can do #MOREtogether to truly help the youth in Wisconsin!! If you believe in our program for high school and college students you can help out by donating at https://bbfkids.org/donate