State Supreme Court recognizes outpatient facility’s tax exempt status
The Wisconsin Supreme Court recently reversed a court of appeals’ decision and ruled 6 to 1 in favor of upholding the tax exempt status of Wheaton Franciscan Healthcare-Wauwatosa and all freestanding outpatient hospital facilities. Chief Justice Shirley Abrahamson voted against the measure.
“The Court appropriately identified that hospital services are increasingly provided on an outpatient basis,” said Matt Moran, vice president and assistant general counsel for Wheaton Franciscan Healthcare. “This modern trend in the delivery of health care services has brought improved access to advanced life-saving and life-enhancing services to communities across Wisconsin. This public benefit clearly justifies continued exemption from the property tax burden.”
The city of Wauwatosa previously challenged the outpatient facility’s tax exempt status.
The Wisconsin Supreme Court affirmed Milwaukee County Circuit Court Judge Elsa Lamelas’ decision the outpatient facility qualified for a property tax exemption under the hospital exemption statute.
Debra Standridge, president of Wheaton Franciscan Healthcare North Market was pleased with the courts ruling.
“From its very beginnings, Wheaton Franciscan Healthcare has existed for the purpose of caring for all regardless of their ability to pay. Our dedicated staff and physicians provide vital services every day to those in our community who have no other health options,” she said.
Endece receives additional financing for cancer research
Mequon-based Endece announced it has received an additional $1.2 million in funding from its group of private investors to advance the development of its leading cancer compound, NDC-1308, up to IND-enabling studies.
Human Phase 1 clinical studies are targeted for 2012. In addition to cancer, two other Endece compounds, NDC-1022 and NDC-1352, are in early development and projected to have therapeutic activity towards remyelination in multiple sclerosis (MS) patients and enhancement of pain tolerance, respectively.
Endece is a privately held, drug discovery and development biopharmaceutical company focused on novel drugs that provide an improved quality of life – and possibly cures – for patients diagnosed with debilitating diseases with few therapeutic options.
The 5-year-old company has raised $15 million to date from its Wisconsin-based angel investors plus an additional grant of $244,000 from the U.S. government’s Therapeutic Discovery Project and a $250,000 loan from the Wisconsin Department of Commerce Technology Venture Fund.
"We are pleased to receive this additional funding from our core investor group to further the development of our lead cancer compound, NDC-1308. This drug’s ability to turn on cell death pathways leading to death of cancer cells is a very exciting and novel approach to cancer,” said James Yarger, Ph.D, president and chief executive officer of Endece. “Our investors are as committed to finding a cure for cancer and better treatments for MS and pain, as we are at Endece.”
WWBIC receives $1.5 million federal grant
The Wisconsin Women’s Business Initiative Corporation (WWBIC) announced today it has received a $1.5 million federal grant to assist low-income communities in the state.
Community Development Financial Institutions (CDFI) Fund director Donna Gambrell joined U.S. Sen. Dick Durbin (D-Ill.), Rep. Danny Davis (D-Ill.) and WWBIC president Wendy. Baumann for the award announcement.
The federal awards totaled $142.3 million for CDFIs serving low-income communities across the country. The 155 grants, made to organizations in 40 states and the District of Columbia, represent the largest single round of monetary awards in the CDFI Fund’s history.
Deputy Treasury Secretary Neal Wolin stated, "Today’s awards will provide much-needed capital to help community-based financial institutions offer products and services that would otherwise be out of reach for thousands of low-income Americans."
In 2010 WWBIC provided direct financing to 103 entrepreneurs and business owners totaling more than $3 million already in 2011.
"Each day we get up at WWBIC and work hard at providing that ‘hope and opportunity’ for those entrepreneurs and business owners throughout Wisconsin. This investment from the CDFI fund advances our collective work and the work of CDFIs across our nation,” Baumann said.
KABA seeks nominations for business awards
The Kenosha Area Business Alliance (KABA) and the Kenosha Area Chamber of Commerce are seeking applications and nominations for the 2011 Kenosha County Business Excellence Awards.
While the awards have a new name and look, they still have the same mission: to recognize excellence and achievement in business throughout Kenosha County. The award categories have been revised in 2011 and now include the following categories: Business of the Year, Small Business of the Year, Entrepreneur of the Year and Kenosha Next (more than one company may be recognized for this award).
Companies are encouraged to apply and nominate colleagues, customers and business partners.
The awards will be presented at an annual dinner hosted by both KABA and the Chamber on Thursday, Nov. 3.
All nominations must be submitted by July 29, 2011. For more information, click here.
Walker sleeps on floor at Denver airport
When stranded at an airport while traveling, most of us have no choice but to sleep on the floor of the concourse and make the most of an unpleasant situation.
The same holds true, apparently, for Wisconsin Gov. Scott Walker.
Walker said he spent a night last week sleeping on the floor at Denver International Airport after a hail storm delayed flights departing from the Mile High City.
On his Twitter feed, Walker wrote, “Headed 2 bi-partisan Nat Gov’s Assn meetings. Got stuck in Denver airport & slept on the floor (did get a pillow & blanket).”
In another Tweet, Walker wrote, “We slept on the floor in a conference room (security recommended it) on the A concourse. Airport staff grabbed us a blanket and small pillow.”
Later the same morning, Walker added, “I’ve been in this same suit for the past 28 hours but we are about to depart for Salt Lake City, so I’m happy. The staff here was … outstanding.”
The Denver Post said about 1,000 travelers, including Walker, were stranded at the airport because of the storm.
Walker, a Republican, apparently opted not to seek more comfortable shelter from Colorado Gov. John Hickenlooper, a Democrat.
