In Monday’s Minneapolis Star Tribune Business section, the Oct. 5, 2009, filing of bankruptcy proceedings for Albert Lea Lodge No. 813 of the Benevolent & Protective Order of Elks, Albert Lea, Minn., was announced under the appropriate heading. The announcement noted that the filing was under Chapter 7 of the bankruptcy code, which denotes that the business will be liquidated (as opposed to reorganizing).

The notice further lists the liabilities of the lodge as $528,850. This is a sad ending to a big problem that was worked on by many people with various ideas and suggestions for correction and success. I am sure that many people in the community are saddened at the demise of our Elks Lodge, as am I. I am quite sure that those persons, in an effort to help, who purchased bonds just recently are particularly disappointed.

I was approached several times by people urging me to purchase bonds. Each time, I asked for evidence of a business plan, a business model, or even a basic fundamental form of a budget.

No one was ever able to help me with this information. It is difficult for me to understand how this entity could accumulate $528,850 in “bills” before someone called a halt. Hopefully, we can learn from mistakes, and I would urge other service organizations to tread lightly and tread carefully with respect to the financial operations of the organization. Careful planning and sound management should be the watch word. Persons with an abundance of business acumen should be recruited to assist in management duties. More board meeting time should be spent on budgets and planning and less time on “brands of vodka to stock.”

Warren Jensen

Albert Lea