Financial Woes Forcing Compass Pointe To Close Its Doors
(Spencer)-- An agency that provides treatment services in northwest Iowa for those affected by various addictions is closing its doors. The board of directors of Compass Pointe voted in a teleconference meeting Tuesday afternoon to cease operations and disband. It's 9 offices will close April 15th, leaving a number of counties in the region served by the agency, including Dickinson county, scrambling to find a new service provider.
Tuesday's action came on the heels of a meeting of the Compass Pointe board on Friday to address some serious financial issues the agency was facing, along with the resignation of its CEO. Officials say the discontinuation of a federal block grant in 2018 contributed to the agency's financial woes. The agency had recently depleted its cash reserves in an effort to keep its doors open.
Kelly Snyder, Compass Pointe Board member for Buena Vista county, says the agency has only enough funds left to cover the current payroll.
Several board members said Compass Pointe employees were notified of the situation Monday and were taken off guard by the news.