Wellness RX Corporation: A for-profit pharmacy/clinical supply company registered to Lamont Ellis.
Under IRS 501(c)(3) rules, a nonprofit cannot be used to "enrich" a related for-profit. The fact that the CEO of the nonprofit (T.I.M.E.) owns the vendor (Wellness RX) is a textbook definition of a conflict of interest that must be disclosed—and usually avoided.
The Clinical Hub at 4538 Edmondson Ave
While T.I.M.E. Organization Inc. (the nonprofit) is the "face" on the city contracts, Wellness RX Corp. is physically located at the same 4538 Edmondson Avenue office.
Wellness RX is accredited by CARF International (first accredited in 2022) at this exact address.
Patients are often referred by the nonprofit to the for-profit Wellness RX for their actual medication and detox services. This creates a "closed loop" where public grant money pays for the patient's intake, and private billing (Wellness RX) collects the insurance or Medicaid payment for the drugs.
The "Lombard Street" Shell Risk
1) Wellness RX Corporation
2)T.I.M.E. Org Inc.
3)Time Org LLC
4)Univec, Inc.
By keeping all these entities at a 'Virtual" office, Ellis has made it very difficult for auditors to see which staff member is working for which company.
A common shell company tactic is to use a "prestigious" downtown address (like 300 E. Lombard) to look legitimate to investors, even if there is no one actually in the office, (which has been proven.)
The next 6 weeks will be spent by the Inspector General mapping the money flow between these Lombard Street entities.
When the City Council meets March 4th, they won't just ask about missing receipts. They will likely ask:
"Why is a city-funded nonprofit sharing an office and a CEO with a 'Shell Risk' company that is currently forfeited by the state?"
This link to a failing or "shell" public company is often the catalyst for the State's Attorney to get involved, as it moves the case from "bad accounting" into "organized financial fraud."
Legistar (LO25-0024) Proves the March 4th Hearing and OIG involvement.
IRS Pub 78 Proves the Nonprofit is still Active (for now).
Under IRS 501(c)(3) rules, a nonprofit cannot be used to "enrich" a related for-profit. The fact that the CEO of the nonprofit (T.I.M.E.) owns the vendor (Wellness RX) is a textbook definition of a conflict of interest that must be disclosed—and usually avoided.
The Clinical Hub at 4538 Edmondson Ave
While T.I.M.E. Organization Inc. (the nonprofit) is the "face" on the city contracts, Wellness RX Corp. is physically located at the same 4538 Edmondson Avenue office.
Wellness RX is accredited by CARF International (first accredited in 2022) at this exact address.
Patients are often referred by the nonprofit to the for-profit Wellness RX for their actual medication and detox services. This creates a "closed loop" where public grant money pays for the patient's intake, and private billing (Wellness RX) collects the insurance or Medicaid payment for the drugs.
The "Lombard Street" Shell Risk
1) Wellness RX Corporation
2)T.I.M.E. Org Inc.
3)Time Org LLC
4)Univec, Inc.
By keeping all these entities at a 'Virtual" office, Ellis has made it very difficult for auditors to see which staff member is working for which company.
A common shell company tactic is to use a "prestigious" downtown address (like 300 E. Lombard) to look legitimate to investors, even if there is no one actually in the office, (which has been proven.)
The next 6 weeks will be spent by the Inspector General mapping the money flow between these Lombard Street entities.
When the City Council meets March 4th, they won't just ask about missing receipts. They will likely ask:
"Why is a city-funded nonprofit sharing an office and a CEO with a 'Shell Risk' company that is currently forfeited by the state?"
This link to a failing or "shell" public company is often the catalyst for the State's Attorney to get involved, as it moves the case from "bad accounting" into "organized financial fraud."
Legistar (LO25-0024) Proves the March 4th Hearing and OIG involvement.
IRS Pub 78 Proves the Nonprofit is still Active (for now).
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