Quote:
Originally Posted by SeattleUte
I have no opinion on how rich the church is. I don't know how anybody not in the highest levels of leadership could. I assume, as Archea said, it must adhere to sound financial decision-making.
But gross revenues are meaningless. Ford MC's revenues are a great deal higher than 6.4 billion and it's going broke. As Archea noted, the great majority of the Church's assets are not income producing. I also assume that until now the Church's investments have been pretty risk-free and stodgy--low reliable return. This I would put more in the high flying category.
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Yes, but you forget some important aspects of the church. They pay for all buildings up front. No debt on any of them. Their land in the US (and most other nations) is tax free. That leaves them with maintenance costs, utilities, etc. Not a tremendous amount of expenses compared to, say, Ford. They pay no workers. There isn't a church union. Trust me when I say they are doing very well.
I don't know with a certainty, but I would be shocked if they were borrowing anything for this project. That goes completely against the church's MO (even though you can actually save a ton of money by borrowing).