MinistryWatch.com was recently interviewed on ABC's 20/20 with John Stossel regarding the lack of financial transparency among some televangelists. Some of these media ministries are much larger than the COGs of today, but nonetheless some of the same principles apply to smaller size ministries.The ABC 20/20 segment may be viewed on the MinistryWatch.com homepage.
Ministries are graded according to a set of fair, objective financial transparency criteria. Five-star ministries rated with straight "A" financial transparency ratings are listed here, while some of the ministries shamefully deserving a grade of "F" for financial transparency may be viewed here.
Currently, the Joyce Meyer ministry grossing $100,000,000 million dollars a year with $71,000,000 in assets is receiving a grade "C" rating in financial transparency from Ministry Watch. Find out why by clicking here.
10 Part St. Louis Post Dispatch on Joyce Meyer
Meyer family and close friends on the ministry's board
Meyer family and close friends on the ministry's board
According to a 2003 series in the St. Louis Post-Dispatch, her ministry spent $4 million from 1999 to 2003 on five Ambassador-quality homes for the Meyer family. Joyce and Dave live in a sprawling $2 million, 10,000 square-foot property with a large fountain, gazebo, private putting green, pool, poolhouse and an independently cooled garage. The Meyers bought several items held by an irrevocable trust in order to guard against financial problems in the ministry. Among them are a $500,000 lake front home on Lake of the Ozarks, a $107,000 Mercedes for Dave Meyer, and a $130,000 house for Joyce's parents.
In response to financial criticisms, Joyce Meyer Ministries have pledged to give greater transparency in financial dealings, publish annual reports, and have a Board majority at arm's length who are not relatives.
What grade would you assign your Church of God on financial transparency?
Also of note, the WCG has posted an edited video of participants discussing the Palm Springs 2007 retreat on camera.
3 comments:
Reading how the ‘Transparency Watch’ grades are calculated, UCGia should get an ‘A’ rating.
For example they would score the highest for timeliness of reporting. The annual figures are normally reported to all by November, and are on public display, following a financial year end of June.
All the other categories would rate A or B, giving an overall rating of ‘A’.
Only problem is Ministry Watch would not actually rate UCGia, as they specify an organisation must be ‘identified as an evangelical Christian ministry’.
A core belief of such organisations is belief in the Trinity. Not believing in the Trinity disqualifies an organisation from being ‘evangelical’.
Regardless of their financial transparency they cannot be considered a card carrying member of the ‘evangelical club’.
No wonder Joyce Meyer is "Enjoying Everyday Life!" (giggle) Fascinating!
Questeruk,
If that is the case, then Ministry Watch could assign a financial transparency grade to the WCG.
I am sending them an email about looking into the possibility of doing just this.
Stan
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