Faced with millions of dollars in unbudgeted legal expenses related to sexual abuse investigations, defenses and settlements, the Southern Baptist Convention Executive Committee will sell its downtown Nashville office building, which is valued at more than $30 million. While that…
New book offers help for churches and civic leaders on how to transition church properties
Congregations facing closure or downsizing must think about more than maximizing profits from the sale of facilities and other assets, social entrepreneur and church finance expert Mark Elsdon said. “The principle here is that we have been entrusted as stewards…
Suit over use of tithes and real estate investing to get June hearing
A consequential three-year-old lawsuit accusing The Church of Jesus Christ of Latter-day Saints of defrauding members by misusing their tithes to fund a real estate development instead of charity will be decided by a panel of judges in the 9th…
Georgia convention finally sells its ‘Taj Mahal’ at a 50% loss
The Georgia Baptist Mission Board, once the largest Southern Baptist state convention east of the Mississippi River, has sold its headquarters building for half its original $42.3 million cost. The state convention announced the sale on Jan. 4 without disclosing…
He’s got a Rice business degree; now he’s focused on finding the best use for church buildings
Church property costs $7 to $10 per square foot annually to operate, which can mean $70,000 to $100,000 for a modest 10,000-square-foot property, according to Rick Reinhard, who unexpectedly has become an authority on repurposing church real estate. Reinhard, a…
Central Seminary will sell its property and lean in to virtual learning model
Central Seminary plans to sell its suburban Kansas City campus and “right size” into much smaller quarters as it leans into virtual learning as its primary model of teaching. The 122-year-old seminary affiliated with the American Baptist Churches USA also…
Critics say this SBC missions agency appears to be in the real estate business
Rob Wilton may not be a household name to Southern Baptists. But he’s been given nine houses by a Southern Baptist Convention mission board, as documented by public records. Wilton comes from a legacy family within the SBC, which might…
Why we must be cautious about understanding what’s going on at Southwestern Seminary
Other news outlets are likely to publish accounts today about dissension among trustees at Southwestern Baptist Theological Seminary and allegations of impropriety related to real estate deals. We’re not publishing such a story today for two simple reasons: We don’t…
After three years of turmoil, Fort Lauderdale church’s finances under ECFA scrutiny
A Florida Baptist church that has been embroiled in three years of internal controversy has been suspended from membership in the Evangelical Council for Financial Accountability pending a review of compliance with membership standards. ECFA is a nonprofit organization open…