Monday, July 1, 2013

Bilking US Dept of Commerce stimulus monies

Recipe for obtaining $7,416,092 of Federal Stimulus Monies and Matching Funds to achieve sustainable broadband adoption for merely 400 households!

Renamed on Feb. 10, 2011, Connected Living Inc. located at 300 CONGRESS ST STE 406, QUINCY, MA 02196 was originally incorporated in Delaware six years ago on June 26, 2007, as MYWAY VILLAGE, INC.

The officers listed in the Commonwealth of Massachusetts Annual Corporate Report for 2007 lists Sarah Hoit as President, Andrew Lowenstein as Treasurer and Christopher McWade as Secretary.

According to Linkedin, Sarah Hoit is CEO and co-founder and sits on the board of directors at Connected Living, Inc. Hoit is a career social entrepreneur focused on companies that impact larger social issues through a different outlook on educational delivery. Prior to co-founding Connected Living, Hoit was Founder, Chairman and CEO of Explore, Inc., an after-school and summer program that met the academic and social needs of students in over 75 schools. She also served as Managing Director with Sylvan Learning Systems, a national supplemental education company.

Hoit organized and drafted the business plan as the Director of Business Planning in the White House Office of National Service in the implementation of President Clinton’s AmeriCorps, the Corporation for National and Community Service.

Connected Living's Mission on their webpage

Connected Living brings the extraordinary benefits of leading a connected life to entire populations who were left behind the digital divide. We enhance the lives of seniors and other under served populations by empowering them to connect to each other, connect to opportunity, and connect to a whole new world.

Here are Connected Living's financial statements submitted to the US Dept. of Commerce to obtain a BTOP grant of $4,731,442 leveraging matching funds of $2,097,393 (with a hefty contribution by Illinois Dept. of Commerce).

From inception, Connected Living has negative income, totaling $2,008,043 at the time of the application! Even in the climate of zero equity real estate investments, no prudent lending institution would approve funds to this corporation.....

except for the Department of Commerce using taxpayer funds!

Failing to exercise due diligence and safeguarding of taxpayer assets, on September 13, 2010 Joyce Brigham, Grant Officer for Dept. of Commerce issues an approval to Sarah Hoit in the amount of $4,731,442 Award No. 25-43-B10574.

Next up....How Connected Living convinced US Dept of Commerce to fund their project despite having no liquidity or proven track record of success.

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