[RSS text readers; visit AveWatch.org to view the graphic referenced below]

Much has been made in the mainstream media about the building of Ave Maria Town (Florida) as a "partnership" between Barron Collier Companies (BCC) and Tom Monaghan, often using "Monaghan" and "Ave Maria University" interchangeably. That relationship between BCC and Monaghan/AMU is a secretive one; not even the board members in Monaghan's academic enterprise have seen the full-text of the contract that binds their relationship. But, beyond this 50-50 partnership to sell the land of Ave Maria Town, there is still much more that ties Monaghan to BCC - and these ties are not between BCC and non-profit AMU. Rather, these commitments are between BCC and Monaghan's for-profit interests.

It all starts with Nua Baile, LLC (proto-Celtic for "New Town").

According to the Florida Department of State, Nua Baile filed as a limited liability corporation on July 21, 2003 using the following addresses:
Primary Address:
One Ave Maria Drive
Ann Arbor, MI 48105
Mailing Address:
Attn - George Forrest
PO Box 373
Ann Arbor, MI 48106
[George Forrest, and the PO Box Mailing address, are also listed as contact person and postal address for the non-profit "Ave Maria Communications, Inc." (which also goes by the name "Tiber River")]

Only two officers are listed for Nua Baile, "managers" Thomas S. Monaghan and Paul Roney. As noted previously on AveWatch, Roney is the CFO for the Ave Maria Foundation, Ave Maria School of Law, Ave Maria University, Ave Maria College, and (thought to be) chairman of Monaghan's Shamrock Bank.

Nua Baile, based in Ann Arbor, partnered with BCC in a Florida Limited Partnership called "Ave Maria Development, LLLP" (AMD). The address for Ave Maria Development is the same as BCC's headquarters. To the degree that AMD derives a benefit from some business venture, so too does Nua Baile benefit. So, the question is - What is AMD involved in?

Housing -
AMD Condo's, LLC
2600 Golden Gate Parkway
Naples, FL 34105
filed - 11/15/2006
Manager - Ave Maria Development, LLLP

Utilities-
Ave Maria Utility Company, LLLP
2600 Golden Gate Parkway
Naples, FL 34105
filed - 5/28/2004
General Partner - Ave Maria Management, LLC

"Ave Maria Management", the aforementioned utility company's general partner, is managed by AMD:
Ave Maria Management, LLC
2600 Golden Gate Parkway
Naples, FL 34105
Manager - Ave Maria Development, LLLP
filed - 5/28/04

There's more. Monaghan's business linkages extend beyond Ave Maria Town and Naples. AMD is listed as a manager for "Ave Maria Rinker Materials, LLC" (AM Rinker) based in West Palm Beach, Florida. According to the Rinker Materials website (emphasis added):
"Rinker Materials Corporation (the US subsidiary of Rinker Group Limited), headquartered in West Palm Beach, Florida, is one of the largest producers of heavy building materials in the United States with its principal operations in Florida and Arizona with additional operations in 29 states. Products manufactured include crushed stone, cement, concrete, concrete block, concrete pipe and asphalt. Rinker Materials employs over 10,000 people in the US and generated over $3 billion in revenue for its most recent fiscal year with approximately 40% of that coming from its Florida businesses."
This venture between Monaghan's AMD and Rinker Materials was filed December 1, 2005. According to the 2006 Rinker financial report, 51% of Ave Maria Rinker Materials is owned by Rinker, thus 49% to AMD. According to an April 27, 2007 news release, Rinker corporate net profits are up 6% with earnings per share up 8%.

Of interest is that AM Rinker, as part of Rinker Materials, stands to be bought-out soon. Rinker corporate, based in Australia, will likely be sold soon to Cemex Corporation; the Rinker board is recommending that shareholders accept the Cemex offer which represents, in US dollars, a 50% premium to the ordinary share price.

Land. Housing. Utilities. Building Materials. Road materials. Bank.

Tom Monaghan is, to be sure, a south Florida real estate developer. And this is not his first foray into Florida business with Roney:
TSM Leasing, Inc. (a Florida Profit Corporation)
filed - 06/16/1994; status - inactive;
last event - revoked for annual report (8/23/1996)
24 Frank Lloyd Wright Dr.
Ann Arbor, MI 48105
Paul R Roney (President)
Thomas S Monaghan

AveWatch does not care if Mr. Monaghan, in the future, promises to take the proceeds from all his Florida companies and donate it to a leper colony. It matters not. He may not be in it for his own wallet; after all, how much more money does a billionaire need. Still, Monaghan does derive significant tangible and intangible benefits that are desirable to him. The point is that his for-profit and non-profit ventures benefit each other, and Mr. Monaghan, directly, and very much by design. The non-profit's autonomy is violated, and its mission and duties subordinated, by having direct ties to multiple for-profit's, each of which have their own autonomy, mission, and duties.

The conflict of interest between Monaghan personally owning prime land in Ave Maria Town and serving as Chancellor of Ave Maria University would be bad enough. Add to that the aforementioned for-profit ventures. Then slather on top the financial coercion that he leveraged as principle benefactor and Board Chairman to pull a once-thriving Ave Maria School of Law (AMSL) from Michigan to his Florida real estate development. How can Monaghan, with a straight face, say that the basis for uprooting AMSL to his development - a move that directly benefits his for-profit businesses and his personally-owned land holdings - is in the "best interests of the Law School"? It is no wonder that Monaghan is now willing to risk AMSL's accreditation to get the school to his Florida mega-development. Nick Healy, AMU's lawyer President, was recently cited by AveWatch for advising Monaghan to tell people that "It was [Monaghan's] judgement that the University, its students and the Church would ultimately be better served by a relocation to Naples." The Church?! Is the Diocese of Venice (Florida) directly benefiting? Was the Diocese even asked to approve Ave Maria? How about including in Healy's list of those who "would ultimately be better served by a relocation to Naples" Tom Monaghan's for-profit business ventures?

By any measure, Tom Monaghan outright wins the title "Rogue Philanthropist". How ironic it is that a project claiming to take and teach the moral high ground will likely become the basis for future regulations.

Tags: conflict-of-interest