Friday, December 14, 2012

Charitable Deductions May Finish Off One LCMS Seminary

Thrivent loot is just like lottery money -
where does it all go?


bruce-church (https://bruce-church.myopenid.com/) has left a new comment on your post "Judgment Day Approaches for the LCMS Seminaries":

2013 is really shaping up to be judgment day for the LCMS seminaries. President Harrison said that neither of the seminaries would close under his watch, but since then the govt has stopped subsidizing student loans to the extent that the govt doesn't pay interest while the student is in school, and the interest rate may climb in the future, and now the charitable deduction might be reduced or even eliminated in order to bring down the deficit. The Washington Post notes that Lutheran Services has been lobbying against that:

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White House, nonprofit groups battle over charitable deductions

http://www.washingtonpost.com/politics/white-house-nonprofit-groups-battle-over-charitable-deductions/2012/12/13/80e67400-43f2-11e2-9648-a2c323a991d6_story.html

But the White House is also looking to limit the charitable deduction for high-income earners, and that has prompted frustration and resistance, with leaders of major nonprofit organizations, such as the United Way, the American Red Cross and Lutheran Services of America, closing ranks in opposing any change to the deduction.

“It’s all castor oil,” said Diana Aviv, president of Independent Sector, an umbrella group representing many nonprofits. “And the members of the nonprofit sector I represent don’t want any part of it. It’s a medicine we’re not willing to drink.”

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LCMS seminary students borrow excessively to overpay their professors salaries.
Does anyone notice this scam?
Not when the top two at CPH make more than $500,000 in salaries and benefits.

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