With the mayoral primary four days away, state Senate President Richard Codey began making “robo calls’ on Donald Cresitello’s behalf to Morristown Democrats today. Codey and the mayor went to the same high school, Oratory Prep.
Meanwhile, a possibly libelous piece attacking Councilman John Cryan is being apparently stuffed in mailboxes … Is the town postmaster watching?
One concern that is watching is Morristown Memorial Hospital … At last night’s debate, Cresitello made reference to wanting to tax as much of the hospital as possible. Hospitals, as we know, are tax exempt, but they do pay taxes on revenue-producing parts. How much that is, is subject to negotiations. The mayor hopes that after all is said and done, the town may be able to garner as much as $2.4 million a year. Hospital officials caught wind of the comments and released this statement this afternoon:
Since its founding more than 100 years ago Morristown Memorial Hospital has remained a non-profit organization, and is designated as such by the IRS. All activities on the hospital campus are dedicated to our charitable mission and revenue is invested back into services and programs to serve the community.
As is common practice for hospitals in New Jersey and across the country, Atlantic Health has established an insurance company domiciled in the Cayman Islands. AHS Insurance Co. LtD., is wholly owned by Atlantic Health and its sole purpose is to pay claims against our hospitals, Morristown Memorial Hospital and Overlook Hospital in Summit. We own the insurance company; it most certainly does not own Atlantic Health nor Morristown Memorial Hospital, which has been a not-for-profit for more than a century. This form of “self-insurance” through an off-shore entity is a standard business structure.
Atlantic Health paid more than $2.5 million in taxes on its revenue generating, for profit businesses in 2007, such as our parking garages and some real estate holdings. Atlantic Health is the largest employer in Morris County and the largest taxpayer in Morristown. In addition, in keeping with our mission to serve our community as a non-profit health care provider, Morristown Memorial provided $20 million dollars in charity care in 2008.