excerpt from a letter from NeighborWorks Board President dated December 6, 2006 to Dear Friend of NeighborWorks:
I'm writing today first to apologize for this unhappy news. I know it is disappointing, and the board is working diligently to renew the community's trust in the organization. with this portion of the investigation now completed, we are looking to the future and our obligations to all of our partners, clients, and supporters. As we do so, however, we know our financial picture is not strong. an investigative audit conducted by Baden, gage, and Schroeder has determined that we owe three creditors $623, 219 in unsecured loans. We are currently working in good faith with the organizations that hold these mortgages in hopes of fashioning a repayment plan. The Indiana Attorney General's office has been contacted as well, and we await word from them.
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