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| In a few decades there will be plenty of cash locked up in endowments, foundations, and similar hidey-holes, but few active congregations left. The right family name - or orientation - gets to lounge around at headquarters, if they still exist. |
A pastor (name withheld) reminded me of the fantastic scheme all the synods have conjured up. They may start with some prospects for an area, or just bring in a pastor to get started. The land and the first unit are decided by the synod, and the mortgage burden is given to the congregation.
In some areas, values go up so quickly that the land can be sold for a juicy profit. The members have paid their share, often for years. The synod says, "Sadly, we have to close you down, but we will let you vote on the cash from the value of the property, where it goes." My eyes are already tearing up.
Here is another scheme, which I mentioned before. The synod eyes a million dollar property with only a few members. Or - they will put in an incompetent pastor who will drive down the membership to almost nothing. One way or another, they invested only a little money and saw a bountiful bundle of cash.
A pastor might be the last full-time worker, and the synod might let the problem be handled with pulpit supply. They look at those situations with gimlet eyes. Over cocktails staff will say to one another, "Give it a few years and we can sell the property for a bundle."
If that is not enough, the synod will visit wealthy members and sell Irrevocable Charitable Trusts (aka Annuities) to them. Once the contract is signed, nobody can change it, which is the meaning of Irrevocable. The federal gubmint is a bit strict on such things, a real bonus for the liars selling the annuities. The synods recruit people to do this, thereby enriching "Giving Counselors" and themselves.
One of my contacts told me the "Giving Counselors" had to earn an insurance license first (Thrivent, another gubmint law). They tend to leverage their amateur treasure-seeking to expand their client lists and their financial futures. The "Giving Counselors" always get paid a commission for annuities old - another gubmint law.
WELS sicced "Giving Counselors" on DP Nitz' members, not telling him, of course. He was not happy, but only objected in a muffled, timid way.
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| WELS managed to go broke while splurging from Marvin's Schwan Song. |
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| Did the LCMS consider future overhead for the Purple Palace International Center? The swan is an uncomfortable reminder about their favorite donor. Refrain from Marvin Schwan's Forbes interview, please. |
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| Which two bosses are prone to nervous eating? All three work as one with Thrivent Insurance and Irrevocable Trusts, not to mention evangelism, worship, etc. |
