Sorry!! The article you are trying to read is not available now.
Politics And Regulation
Trading And Investing
How To Trade
How To Invest
Wall Of Worry
Hoofy & Boo
From The Buzz & Banter
MV Education center
t3 live subscriptions
There's No Business Like the Religion Business
November 11, 2010 01:44 PM
"In metro Atlanta and elsewhere, the number of megachurches, which have long been defined as having a weekly attendance of 2,000 or more, are still drawing huge numbers of worshippers and receiving millions of dollars in the collection plate."
Amazingly, the North Point Community Church in Alpharetta, GA, has an annual budget of $40 million -- only $10.3 million less than the
city of Alpharetta
While some megachurches have hit hard times (the Rev. Robert Schuller's Crystal Cathedral recently filed for bankruptcy), their leaders have, historically, lived quite well.
Creflo A. Dollar, pastor of Atlanta's World Changers Church, preaches the "prosperity gospel," which may or may not bring prosperity to his flock. But it definitely brings prosperity to him.
Dollar and his wife Taffi live in a $3 million Atlanta mansion, as well as a $2.44 million Manhattan condo.
They get around in a private jet, two Rolls-Royces (although Creflo insists they only have one), and a Hummer.
It was this sort of profligate spending that piqued the interest of Senator Charles Grassley in 2007, when he requested detailed financial documents from Dollar and five other megachurch leaders to ensure they were not in violation of their tax-exempt status.
Dollar refused, citing some sort of bizarre legal issue, which he valiantly attempted to explain to Larry King:
Three years later, Dollar apparently still has not complied with the Senator's request.
"If he sticks to his guns," Grassley said, "this will be the first nonprofit that I know of that hasn't cooperated with us over the last five or six years."
If nothing else, it certainly raises an eyebrow or two when the head of a "nonprofit" entity finds enough profit lying around to afford a home like this:
Jesus, that's a nice house.
No positions in stocks mentioned.
See All Tickers »
More From Minyanville
Trading and Investing
MV Education Center
Buzz & Banter
Cooper's Market Report
The Options Strategist
Directory of Terms
T3 Live Subscriptions
Buzz and Banter.com
Ruby Peck Foundation
Terms and Conditions
Follow Minyanville on Facebook
Follow minyanville on Twitter
Follow Minyanville on Linkedin
Subscribe to Our RSS Feed
©2017 Minyanville Media, Inc. All Rights Reserved