News On City Harvest Church

CHC spent half a million dollars buying Sun Ho's unsold CDs (Click on title for original source)

SINGAPORE: Sun Ho was not the successful singer City Harvest Church had made her out to be. Evidence showed the church spent about half a million dollars to buy her unsold Mandarin CDs.

The profitability of her artiste management company Xtron was also questioned, as the trial involving the church's leader Kong Hee and his five deputies resumed on Monday (Aug 4). 

The six church leaders are accused of misusing millions of church funds to buy sham bonds to bankroll Sun Ho's music career.

She had been touted as a big commercial success, but lead prosecutor Mavis Chionh said the financial statements told a different story. In 2004, City Harvest Church spent about half a million dollars to buy her unsold (Mandarin) CDs - numbering at least 32,000 copies - to give away to overseas ministries and overseas churches.

These details surfaced as the prosecution sought to highlight inconsistencies in former church board member John Lam's evidence. He had cited Ms Ho's success as a reason the church should invest in bonds issued by Xtron - her artiste management company.

The Prosecutor had strong words for Lam. She called his evidence incredible, and a lie, and said he was desperate to find an explanation as to why he had gone along with a plan to let the church sink millions of dollars into what were essentially junk bonds.

Lam pointed out that junk bonds were not necessarily bad bonds, and added that he had believed that Sun's US album sales would be good enough to cover the obligations of the bond. But the prosecution said that as a former director of Xtron, Lam would have known it was not a profitable company.

For example, its only asset was a laptop, with all other assets loaned by the church. It did not even have the budget to pay for a S$46,000 freight services bill.

The prosecution also drove home the point that Xtron was not the independent entity it had been made out to be. For one, Lam and his fellow accused Chew Eng Han had agreed to stamps of their signatures being made, to be used on Xtron invoices. Ms Chionh said the two were "happy to rubber stamp decisions", knowing they were made by Kong and the church.

It was also heard that the bulk of Xtron's funding came from the church members. For example, Indonesian businessman Wahju Hanafi's donations to the Church Building Fund were refunded to him, and channelled to Xtron. The building fund pledges and tithes of some other members including Lam were also diverted to Xtron. The trial continues.

An Invaluable Advise for all Pastors

John Piper Responds to Pastor David Yonggi Cho's Conviction for Embezzling $12M by Making Plea to US Pastors March 5, 2014

When asked about the conviction of David Yonggi Cho, founder of world's largest Pentecostal congregation in South Korea, for embezzling $12 million from his church, popular pastor John Piper took the opportunity to warn pastors in the U.S. who might "love money," in a recent message.

"With every public dishonoring of Christ, every public dishonoring of His Word and His Gospel, and His Church, it makes me angry and it makes me sorrowful," said Piper in a recent episode of Ask Pastor John.

Yonggi Cho who pastors Yoido Full Gospel Church and oversees a network of churches numbering 800,000, was found guilty by a South Korean court for committing breach of trust and corruption amounting to $12 million, according toYonhap News Agency. He received a suspended sentence of three years in prison with a five year probation and was ordered to pay a penalty of $4.7 million by Seoul Central District Court on Feb. 20.

One of Cho's sons, Hee-jun, who serves as secretary general of Yeongsan Christian Cultural Center and was a former chairman of Next Media, was sentenced to three years in prison.

"My response to this is really not to pile on any additional condemnation … but rather to try to respond for the rest of us in a way that tries to prevent these kinds of things," said Piper.

"I want pastors to keep watch on themselves. I have five pleas to pastors. My hope is that pastors will listen this and take this 68-year-old pastor's heart-aching that we not bring this kind of reproach on the name of Christ," he continued. He then listed five precautions pastors should take to avoid the sinful seduction of money.

1. Kill every desire to be rich and get rich

If you see the desire in your heart take aim at it with the words of Christ and the words of Paul and put it to death with a swift blow with the sword of the spirit. Jesus said how difficult it is for those who have wealth to enter the kingdom. In other words don't want this.

2. Pastors, if you see your income starting to grow, set a governor on it

Keep away from accumulating more and more and communicating to your people that you lay up treasures on earth. One of the best ways to do this I think, is to grow the percentage of your giving. I'm not impressed with a pastor who gives 30 percent of a million dollar royalty check and keeps 70 percent of it to buy luxuries with. I've heard pastors boast that they give 30, 40 percent. I'm not even impressed with giving 90 percent of a $10 million royalty check and keeping a million dollars to play with. While you look like every other millionaire and think that you have done a virtuous thing. Money is insidiously deceptive. We've seen it over and over again and I'm pleading with pastors, be content with what the church pays you and give the rest away with joy and strategic wisdom.

3. Be totally transparent with your fellow elders about your sources of income

These elders should not be the wealthy powerful peers from outside the church. That is an unbiblical way to lead your flock. It has no biblical foundation and it communicates distrust for your local leaders and a kind of pride that you are above their local accountability. Let all the books of your income be open to any member of your church who asks the elders. Secrecy around money is deadly. It's a sign that something is not right so work to give your ministry the flavor, 'we're not like peddlers of God's word.'

4. Live simply to show that your treasure is in heaven and not on earth

Please don't write this off as pauper theology. There goes Piper again with his pauper theology. That is absolutely ridiculous. The kind of distortion that makes of what I'm saying is a sign of fear that what I'm saying just might be true.

Get a car that works; that gets you where you need to go. Get a car that doesn't break down on you every few months. I'm talking about a modest entertainment budget that doesn't eat out every night. I'm talking about a refreshing vacation, not an exorbitant one. I'm talking about clothes that are unremarkable and undistracting, both for not being shabby and not being brand driven. I'm talking about a home that accomplishes your family and ministry purposes leaning towards ordinary folks in your congregation, not the wealthiest.

5. Put in place a leadership structure of a plurality of elders

A council of elders on which you the pastor have one vote. You are a chief among equals…not by having veto power over everyone else.

"I'm so jealous of these things because I am jealous for the name of Christ. His name is being blasphemed Paul said … the name of God is being blasphemed because of you. 'You abhor idols and you rob temples.' That is hypocrisy to the core … that is happening today because of pastors who love money," Piper ended.

David Yonggi Cho Found Guilty by the Court.

This is an Article taken from The Gospel Herald which was published on the 21st February 2014. This Article is of special interest to us because of the close ties between David Yonggi Cho and Prince Guneratnam, the Senior Pastor of Calvary Church, Kuala Lumpur.

David Yonggi Cho, Founder of World's Largest Church, Found Guilty of Breach of Trust, Corruption 

David Yonggi Cho, Founder of World's Largest Church, Found Guilty of Breach of Trust, Corruption 

David Yonggi Cho, founder of world's largest Pentecostal congregation, was found guilty by South Korean court for committing breach of trust and corruption of 13 billion won (US $12 million), according to Yonhap News Agency.  

Yoido Full Gospel Church senior pastor received a suspended sentence of three-year prison term with a five year probation and ordered to pay a penalty of 5 billion won (US $4.7 million) by Seoul Central Distrcit Court on Feb. 20, 2014.  

The court also sentenced Cho's elder son Hee-jun, secretary general of Yeongsan Christian Cultural Center and former chairman of Next Media, to a three-year prison term without suspension. He was formally arrested before the court ruling, the Yonhap News reported.  

In 2002, while serving as chairman of a church-affiliated newspaper Kookmin Ilbo, Hee-jun sold the church 250,000 shares of stock in I-Service at 86,984 won (US$80.06) per share, which was much more expensive than the market price of 24,032 (US$22.12) per share, the hankyoreh reported. 

Prosecutors identified David Cho as an accomplice to the crime of breach of trust, claiming that Cho used the money to help his son recover losses made in stock investements.    

According to hankyoreh, Cho had directed the transaction, which the church has "absolutely no need for" and resulted in a loss, to be dealt with as quietly as possible despite his full knowledge of the potential "uproar" from the elders and congregation if they find out. 

The church's loss of 131 billion won resulted in 29 church elder's filing the lawsuit in 2011, accusing him of embezzling US $20 million. In addition, prosecutors acquired evidence of tax evasion during the investigation, where Cho was suspected of evading 3.5 billion won (US $3.2 million).  

While Cho has denied the allegation, he has also been criticized for privatizing church assets.  

Although the judge believes that Cho should be severely punished for committing breach of trust, especially for a person of his status in society, he gave a light sentence on Cho's tax evasion in consideration of Cho's long-term contributions to the society, the Yonghap News reported.  

The court sentenced Hee-jun to three years in prison for being the main culprit, who tried to evade responsibility - placing his personal financial loss on the church and the blame on others.  

Cho, 78, founded Yoido Full Gospel Church in 1958 and it now claims more than 450,000 followers. His proteges have built their own "disciple churches" across the country, creating a congregation of around 800,000, with Cho as the leader.  

US Church files for Bankrupcy

This is an Article taken from : Yahoo News. 

Crystal Cathedral megachurch files for bankruptcy
By AMY TAXIN, Associated Press Writer – Mon Oct 18, 7:48 pm ET

GARDEN GROVE, Calif. – Crystal Cathedral, the megachurch birthplace of the televangelist show "Hour of Power," filed for bankruptcy Monday in Southern California after struggling to emerge from debt that exceeds $43 million.

In addition to a $36 million mortgage, the Orange County-based church owes $7.5 million to several hundred vendors for services ranging from advertising to the use of live animals in Easter and Christmas services.

The church had been negotiating a repayment plan with vendors, but several filed lawsuits seeking quicker payment, which prompted a coalition formed by creditors to fall apart.

"Tough times never last, every storm comes to an end. Right now, people need to hear that message more than ever," Sheila Schuller Coleman, the Cathedral's senior pastor and daughter of the founder, told reporters outside the worship hall decked with a soaring glass spire.

"Everybody is hurting today. We are no exception," she said.

The church, founded in the mid-1950s by the Rev. Robert H. Schuller Sr., has already ordered major layoffs, cut the number of stations airing the "Hour of Power" and sold property to stay afloat.

In addition, the 10,000-member church canceled this year's "Glory of Easter" pageant, which attracts thousands of visitors and is a regional holiday staple.

The church was founded at a drive-in theater and attracted congregants with its sermons on the power of positive thinking. Its worship hall opened in 1970 and remains an architectural wonder and tourist destination.

The "Hour of Power" telecast, filmed in the cathedral's main sanctuary, at one point attracted 1.3 million viewers in 156 countries.

Church leaders said the Crystal Cathedral's Sunday services and weekly-telecast "Hour of Power" will continue while in bankruptcy.

Other megachurches have also suffered from the downturn and reduced charitable giving.

Crystal Cathedral saw revenue drop roughly 30 percent in 2009 and simply couldn't slash expenses quickly enough to avoid accruing the debt, said Jim Penner, a church pastor and executive producer of the "Hour of Power."

Vendors owed money by the church formed a committee in April and agreed to a moratorium to negotiate a repayment plan with the Crystal Cathedral. But after several filed lawsuits and obtained writs of attachment to try to collect their cash, it was difficult to keep the group together, Penner said.

Now, the church is avoiding credit entirely and spends only the roughly $2 million it receives each month in donations and revenue, Penner said. The church still hopes to pay all of the vendors back in full, he said.

"What we're doing now is we're trying to walk what we preach, we're paying cash for things as we go," he said.

These are some photos of the Crystal Cathedral.

Borrowing to Build

by Crown Financial Ministries

Click here to find the source of the Article : Borrowing to build

The use of debt to build or expand the outreach of a church is so common a practice today that even to challenge the idea can create an air of animosity. However, just because a practice is normal does not mean it is scriptural or best.

It should be noted that most churches repay their indebtedness according to contract. So the discussion is not whether a church can repay (they must) but whether churches should borrow even if they can repay.

Is borrowing prohibited?
Church borrowing is an emotional and controversial topic. When the time comes to fund building programs or expansions, too many ministry leaders immediately call a bond company or make an appointment with a commercial loan officer at the bank.

Why do churches so frequently borrow to fund expansion? In many cases, they feel they have no other alternative. Church leaders too often feel trapped and resort to borrowing out of a sense of desperation.

Borrowing is not prohibited in Scripture. It is discouraged. There are no positive references to borrowing, but there are explicit warnings to avoid it. “The rich rules over the poor, and the borrower becomes the lender's slave” (Proverbs 22:7).

Thus God's Word indicates that an unnecessary authority is created by borrowing, plus borrowing denies God's people the opportunity to experience His blessings (see 2 Corinthians 9:10).

Scripture points out four precedents concerning borrowing:

• Borrowing is always presented in the negative (see Proverbs 17:18).
• God never made a promise to anyone and then fulfilled it through a loan or debt (see Luke 6:38).
• God promised His people that if they would obey His commandments they wouldn't have to borrow (see Deuteronomy 28:12).
• God had worship structures built at least three times in the Bible, and no credit was used.

How borrowing affects ministry
The philosophy of the day says to have it all now. This mind-set causes serious problems in the local church.

Members who are accustomed to making large purchases using personal credit carry that same belief system and practice into their churches. This has caused many local congregations to assume staggering amounts of debt that has resulted in high debt-service payments.

Many of these debts cut deeply into ministry resources to the extent that staffing needs and other opportunities have to be set aside in order to pay the mortgage.

A debt within the church restricts the ability of the members to serve God. Quite often, ministry decisions are based on the need to meet the debt payments rather than to fund current ministry needs.

Without a doubt, overly ambitious building programs have caused more stress in churches than any other financial endeavor. Many building programs have pursued what has been termed “architectural evangelism.” It is felt that a large, ornate sanctuary will draw people to the church. But at what cost?

Almost everyone agrees that the local church consists of more than simply bricks and mortar. But, then again, almost every church spends a great deal of time, energy, and money on buildings.

Huge portions of church collections go to meet interest payments. This money could be used to further God's kingdom, rather than the world's. Some major denominations spend more on interest payments than on foreign missions.

The need to build
There are some essential questions that need to be answered before spending church resources on building or expansion programs.

1. What is the true motive for building or expansion? Is it based on a real or a perceived need (a want)? Is money for building going to be spent to the detriment of missions or essential ministry programs? The Great Commission never said anything about highly leveraged building programs.
2. What effect will borrowing have on the cash flow of the church? When a church has a mortgage, the mortgage holder must get his portion first—before pastor, utilities, or missions are paid. In essence, a mortgage reorders all of the church's priorities. The mortgage must be paid first; everything else comes next, regardless of how the church feels God has called them to minister.
3. Is God backing the decision? If God is backing the program, He will bring the funds in without the church having to borrow.
    Raising money needs to be low-key and all funds need to be on hand before any construction begins. 
4. Is God the designer? If God is backing the project and He brings in the amount of money that is needed for the construction effort, the size and the cost of the building effort will be determined by how much God brings in, not by what a building committee says is needed.

Alternative to borrowing
There is an alternative to borrowing: generous giving by God's people.

Christians need to give in a generous, joyous, God-first, servant-minded, self-sacrificial way, in proportion to their incomes.

Yet when challenged to give up personal desires in favor of contributing to the work and expansion of churches, too many American Christians say no.

This is not the giving attitude that is powerfully and consistently taught throughout the New Testament. If Christians would give as God clearly instructs them to, there never would be a need for churches to borrow.

Conclusion
Although it is not a sin for a church to borrow for building or expansion, it does circumvent the need to trust God.

If God is convicting the people to expand or renovate, there is enough money in each church to fund the project.

There are countless churches across America that are both large and thriving and have chosen to avoid debt. They have decided to build debt free and have delayed expanding until they could afford to do so. To these, the church is in their hearts, not in a building.

If emotion is driving a program, it probably will fail. If the desire to reach more people and show them God's love is the motivation, God will honor that attitude.

Buildings should not be built "to the glory of God," because God does not need buildings. So, if there is truly a need for expansion, the church leadership and congregation need to set aside some time to seek what God wants for the church and ask Him how the money will be provided.

Biblical Principles of Borrowing

by Crown Financial Ministries


This Article is obtained from the Crown Financial Ministries. We have reproduced some relevant points here and have omitted the points that are not relevant to our situation. To read the full Article, please click here : Biblical principles of borrowing

Principles of borrowing appear in God's Word, although it should be noted that principles differ from laws.

A principle is an instruction from the Lord to help guide our decisions. A law is an absolute. Negative consequences can result from ignoring a principle, but punishment is the likely consequence of ignoring a law of God.

An example that shows the difference between principle and law: the principle of borrowing given in Scripture is that it is better not to borrow if the loan must be taken with surety. “A man lacking in sense pledges and becomes guarantor in the presence of his neighbor” (Proverbs 17:18).

The law of borrowing given in Scripture is that it is a sin to borrow and not repay. “The wicked borrows and does not pay back, but the righteous is gracious and gives” (Psalm 37:21). The implication of this Scripture is that the wicked can repay but will not, as opposed to those who want to repay but cannot.

Principles are given to keep us clearly within God's path so that we can experience His blessings. To ignore them puts us in a constant state of jeopardy in which Satan can cause us to stumble at any time.

Principle 1: Debt is not normal
Regardless of how it seems today, debt is not normal in any economy and should not be normal for God's people.

We live in a debt-ridden society that is now virtually dependent on a constant expansion of credit to keep the economy going. That is a symptom of a society no longer willing to follow God's directions. God told His people what He would do if they kept His statutes. 

“Now it shall be, if you will diligently obey the Lord your God, being careful to do all His commandments which I command you today, the Lord your God will set you high above all the nations of the earth….The Lord will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow”

(Deuteronomy 28:1, 12). Borrowing is never God's best for His people.

Principle 2: Do not accumulate long-term debt
It's hard to believe that a typical American family accepts a 30-year home mortgage as normal today ... (omitted)

...Today it requires from 40 to 70 percent of the average American family's total income to buy an average home, even with a 30-year mortgage.

The longest term of debt God's people took on in the Bible was about seven years.

During the year of remission, the seventh year, the Jews were instructed to release their brothers from any indebtedness (see Deuteronomy 15:1-2). Thus, the only debts that could exceed seven years were those made to non-Jews or from non-Jews.

Principle 3: Avoid surety
Surety means accepting an obligation to pay without having a guaranteed way to make the payments.

The most recognizable form of surety is cosigning a loan for another person. But surety also can be any form of borrowing in which an unconditional guarantee to pay is committed.

The only way to avoid surety is to collateralize a loan with property that, if sold, would cover the indebtedness, no matter what... (omitted)

Principle 4: The borrower has an absolute commitment to repay
In this generation, situational ethics is widely accepted—so much so that it's easy to rationalize not paying a debt, especially when the product or service is defective or when family financial situations seem to be out of control.

Unfortunately, many borrowers discover that it is possible for them to accumulate far more debt than they can repay and still maintain the lifestyle they want. As a result, they bail out. 

Currently (2002 standards) over one million people a year now choose bankruptcy as a way to postpone or avoid repayment.

Nevertheless, in some cases voluntary bankruptcy is acceptable—but only in the context of trying to protect the creditors, never in the context of trying to avoid payment.

A Christian needs to accept that God allows no exceptions to keeping vows. “It is better that you should not vow than that you should vow and not pay” (Ecclesiastes 5:5).

Conclusion
Benjamin Franklin's Poor Richard's Almanac quotes, “Neither a borrower nor a lender be.” Although it is good common sense, it is not from God's Word.

However, many Christians feel that all borrowing is prohibited according to Romans 13:8, “Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law.” 

To properly interpret this Scripture, it must be considered in light of the context in which it appears. In this particular reference, Paul was not talking specifically about money—teaching that we are never to allow people to do things for us if we are not willing to do even more for them.

Scripture very clearly says that neither borrowing nor lending is prohibited, but firm guidelines are given.

Borrowing is discouraged and, in fact, every biblical reference to it is a negative one. “The rich rules over the poor, and the borrower becomes the lender's slave” (Proverbs 22:7). The scriptural guideline for borrowing is very clear. When you borrow, you promise to repay. Literally, borrowing is making a vow and God requires that we keep our vows.

God and money by Crown Financial Ministries

God says that if we pray for anything in His will, believing, it will be given to us. However, God's will and His ways do not always coincide with ours. So, when we turn our finances over to God, we also must be willing to accept His direction.

Too often we impatiently seek our own way without any clear direction from Him, sometimes even borrowing money to do His work. We forget that God says He will not frustrate His work for the lack of money (see Luke 22:35).

There is nothing wrong with asking God's direction, but it is wrong to go our own way without waiting for God's answer.

In order for us to recognize God's directives, it may be necessary first to understand God's view of money and how He uses it to enhance our relationship with Him.

How and for what purpose God uses money
Money is neither good nor bad: it is merely a medium of exchange. It is the misuse and abuse of money that cause the problems.

Because God is so good, He uses money for our benefit in several different ways.

1. God uses money to strengthen our trust in Him. It is often through money that God can clearly and objectively show us that He is in total control, if we will trust Him and accept our positions as stewards and managers of His possessions (see Matthew 6:32-33).
2. God uses money to develop our trustworthiness. This principle is important because our lives generally revolve around making, spending, saving, and using money. If He can trust us with money, He can trust us with greater responsibilities and His true riches (see Luke 16:11).
3. God uses money to prove His love. Scripture tells us that God assumes the responsibility of providing the basic necessities for everyone who trusts in Him (see Matthew 7:11). By transferring all money to Him, He often uses money to meet those necessities of life.
4. God uses money to demonstrate His faithfulness. Moses reminded Israel that it was God who would give them the power to make wealth. Our security is in God, not in our bank accounts. Discovering His faithfulness though financial needs encourages reliance on Him.
5. God uses money to unite Christians in blessings. God will use the abundance of one Christian to supply the needs of another. Surplus money in our lives has been given by God for the purpose of helping those who are in need.
6. God uses money to provide direction. There is probably no way God can direct our lives more meticulously than through the abundance or lack of money. Too often we believe God directs our lives through the abundance of money, but He also will lead us down His directed path by withholding money.
7. God uses money to cultivate self-control. One of the fruits of the Spirit is self-control, a key aspect of successful money management.
8. God uses money to clarify spiritual maturity. Many temptations clamor for Christians' attention. A great deal can be learned about our personal character and spiritual maturity by noticing how we handle money and determine financial priorities.

Areas in which God does not use money
Just like there are several ways in which God uses money for our benefit, there are several areas in which God never uses money to influence our lives.

1. God never uses money to worry us. If Christians are worried, frustrated, and upset about money, God is not in control. God said that wealth without worry is His plan for our lives. In addition, He promises to meet the needs of those who trust in Him (see Matthew 6:25).
2. God never uses money to corrupt us. Many Christians have fallen into Satan's trap and are being corrupted. Christians whose financial life is characterized by greed, ego, deceit, and other worldly snares are at enmity with God and His plan.
3. God never uses money to build egos. Frequently, Christians are trapped by financial ego in that they use money in an attempt to build self-worth and ego. However, in Christ all are financially equal because all wealth will pass away. What will remain will be those things that have been laid up in heaven—the true wealth.
4. God never allows money to satisfy our personal whims or desires. God does not expect His people to live in poverty; however, He also does not endorse lavishness. Surplus is provided so that God's work can be funded and those in need can be helped. If the surplus is hoarded or wasted on lavishness rather than used for His plan and purpose, chances are the surplus will be removed.

Conclusion
God offers countless financial principles, intended to make our lives meaningful, because He's interested in us and how we earn and spend money.

Once we understand how God uses money and why He chooses to use it in a particular way, we generally become more familiar with His plans and purposes for our lives and are able to recognize and comprehend His directives.

This article was taken from Crown Financial Ministries : God and Money

Financial Stewardship

Shalom Brethren,

I used to think that once I have given my tithe and offering to the local church I have done my part and hence I am no longer responsible nor accountable for how the church spend that money.

I believe that most believers have been taught this "doctrine"

However, the truth of the matter is that all of us  shall one day stand before our Lord to give account of how we have utilized our resources, including those resources that we think we have “given unto the Lord”

Romans 14:12 

So then every one of us shall give account of himself to God.

  

      1 Corinthians 4:2 

      Moreover it is required in stewards, that a man be found faithful.

I have been reading Calvary today and Berita Calvary and strongly encourage you to publish it  in one of your blogs as I believe  that this would be illuminating to a lot of our brethren.

God bless, have a great day and let me know if you would publish this  article in one of your blogs

Note:

I have also attached a word copy for reference

David K, 

Success Is HAVING What You WANT.

Happiness is WANTING What You HAVE

Health Is NOT Valued Till Sickness Comes

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This is a letter we received from a brother today highlighting to us the article, “How Pastors Get Rich” by Cultwatch Director Mark Vrankovich. 

Unknown to him, we have written to the Cultwatch Team two days ago seeking permission to place this article here. We have been advised to place a link to their website “because Google will downgrade the rank of our article's page, if it finds duplicates on the web. Therefore to ensure more people can find it when they search for it a link would be best.”

Please do spend some time to read the full article. Click on the Title. 

How Pastors Get Rich

An article by Cultwatch Director Mark Vrankovich

 This article exposes the secret methods certain pastors use to get rich off God's people. Have you ever wondered how some pastors start a church and then become wealthy living in flash houses and driving luxury cars? Well this article exposes how they do it, extracting money from their congregations to fund their lifestyles. Here are the secrets they definitely do not want you to know.

 Important Note:

As you read please remember that very few pastors use the techniques you are about to discover. The great majority of Christian pastors do not earn much money even though they work hard at their jobs. Most Christian pastors would find these techniques repugnant.

Please do not make the mistake of tarring the many good pastors with the brush reserved for the spiritually corrupt few.

You will discover the secret techniques that certain pastors use to transfer money out of your pocket and into theirs.

You will understand the overall pattern behind their tricks.

You will learn enough to protect your friends and family.

You could gain thousands of dollars (or pounds or euros), literally. Reading this article can set you free. Free to keep more of the money that you have worked hard for. Money you can take and invest in genuine works of God, or in toys for your kids, or perhaps something shiny for your spouse.

 Finally, reading this article can help you please God more, since you will no longer be investing in ungodly works.

Please continue to read the full article here : How Pastors Get Rich

Massive Investment Banking Failures ...

Massive Investment Banking Failures Spotlight
a Lesson on Main Street

By Steve Marr

The current insolvency of some of the largest and oldest financial institutions has been caused by massive leveraging of assets. In simple terms, for every dollar these institutions possessed in hard assets, they borrowed 30, 40, 50 or even 60 times that amount. Once any business, large or small becomes that leveraged, trouble is brewing.

Consider Tom who bought numerous homes to initially generate rental income with plans to sell at a profit once values increased. He purchased one home for $300,000 with a 5% down payment, financing a balance of $ 285,000. As a result, Tom was leveraged 19 to 1, meaning he owed $19.00 for every dollar invested. A 10% decline in the real-estate market caused his investment to drop to $270,000 in value, wiping out all his equity and creating a $15,000 loss.

Since Tom owned many houses, the drop in value plus the loss of a few tenants resulted in him not being able to cover all of his payments. Within a few months, as his losses mounted and Tom lacked the cash to cover his obligations, bankruptcy soon followed.

Even 2,500 years ago the Prophet Habakkuk predicted what would happen when credit was allowed to mount unchecked. He wrote, “Will not your creditors rise up suddenly and those who collect from you awaken? Indeed, you will become plunder for them” (Habakkuk 2:7 NSB). The more leveraged an individual or business becomes, the greater the risk. Creditors have a way of rising up at the worst possible time for a borrower!

Tom, like some of the largest financial institutions today, made the same error; leveraging investments to the maximum. When a borrower risks and all turns out well, great profits are generated and the borrower appears to be a genius for a time. However, no market ever travels solely straight up. Even if Tom turned out to be right on the long term housing market, a short-term squeeze could push him over the edge. The same thing happened to Fannie Mae, Freddy Mac, Lehman Brothers and Bear Sterns, only on a larger scale. Unfortunately, more big names are likely to follow.

Biblically, debt was never positively portrayed. King Solomon explained, “The borrower becomes the lender’s slave” (Proverbs 22:7). King David added, “The wicked borrows and does not pay back” (Psalm 37:21). When we become highly leveraged we create potential situations where we may be unable to pay back what we owe.

Deuteronomy 28 even depicts debt as a curse. While avoiding all debt is difficult today, the key is to understand that debt is never a blessing. The more we borrow, the more we become leveraged and the more future pressure we will endure.

As Christians we can take several important steps during these turbulent times.

First, avoid highly leveraged borrowing, either personally or in business.

Second, if for any reason we cannot pay what we owe, we need to make a personal confession to the Lord and to others whom we have failed to honor with our payments.

Third, and finally, turn to the Lord just as Habakkuk did, “Though the fig tree should not blossom and there be no fruit on the vines; though the yield of the olive should fail and the fields produce no food; though the flock should be cut off from the fold and there be no cattle in the stalls; yet I will exalt in the Lord; I will rejoice in the God of my salvation. The Lord God is my strength and He has made my feet like hind's feet and makes me walk on high places” (Habakkuk 3:17-19 NASB).

At all times and in all places we need to look to God for He alone is our guiding light. Though the world may present much turmoil, God is our source; He is always faithful to see us through.


*FCCI Weekly Email*Copyright © 2008 *FCCI*, All rights reserved.
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From: Doug Hunter doug@fcci.org
Subject: RE: Answer the call
To:
Cc: "'Kristen Jones'" kristen@fcci.org
Date: Wednesday, 15 October, 2008, 2:26 AM

You certainly have our permission to post this, as well as the Checklist that will follow tomorrow.
Thank you for the encouraging note!
Blessings ………..

Doug

President and CEO
Fellowship of Companies for Christ International / Christ@Work

doug@fcci.org
Office: 770-685-6000
Cell: 678-358-9341
www.fcci.org
4201 North Peachtree Road
Suite 200
Atlanta, Georgia 30341

You don't waste your life by where you work, but by how and why. John Piper

Discernment Required for Wise Giving

By Michael Barrick

http://www.ministrywatch.com/

Donors are to be good stewards of the resources with which God has provided them – "Now it is required that those who have been given a trust must prove faithful" (1 Corinthians 4:2)."

To be good stewards, donors must have discernment – "Let the wise listen and add to their learning, and let the discerning get guidance" (Proverbs 1:5).
"Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver" (2 Corinthians 9:7).
Donors, to be generous and cheerful givers, must have confidence that ministries' disclosures regarding financial practices, spending habits, board governance and compensation, and other key practices are complete, thorough, timely and transparent.

Accountability required

Sometimes, that means some ministries – which would prefer that their
fundraising and spending habits not see the light of day – will not be pleased with the efforts of Wall Watchers staff, has already advised donors to not contribute to the many so-called Word of Faith or "Prosperity Gospel" televangelists because of their refusal to release even the most basic financial data and other information, such as salaries and possible conflicts of interests among board members. Indeed, most of them live lavish lifestyles that demand an answer as to whether or not the gifts of the donors are not actually benefiting the leaders of these organizations.

These leaders refuse to share this information based on an unbiblical theological dogma that holds that extra-biblical "anointings" from God somehow provides them with immunity from having to share financial data and other information with donors.

Greed the Culprit?

With these "church" or "ministry" leaders living in multi-million dollar homes, jetting around the world in private planes, buying homes for their families and otherwise living a luxurious lifestyle that would not be otherwise available to them but for the generosity of unsuspecting donors, those giving to these ministries – and as important, those for whom donors intend their resources to help – deserve greater accountability from these "churches" and "ministries" than is presently occurring.

Service requires the proper motivation

Most importantly, we are accountable to God, and that is reflected in our relationship with Him and one another. Peter taught ,
"Be shepherds of God's flock that is under your care – serving as overseers – not because you must, but because you are willing, as God wants you to be; not greedy for money, but eager to serve, not lording it over those entrusted to you, but being examples to the flock. And when the Chief Shepherd appears, you will receive the crown of glory that will never fade away" (1 Peter 5: 2-4).

Explicit in this verse is that we are accountable to God and to those whom we serve. In the life of the ministry, that is not only the recipients of the charity, but also those who made the charity possible. Clearly, the proper motivation – sacrificial service, not self gratification – is the only proper incentive for Christian service.

Misusing the name of the Lord is a sin

"You shall not misuse the name of the Lord your God" (Exodus 20:7).
Those that would use God's name to raise money for their own benefit are
misusing the name of the Lord. A Christ-follower's purpose is clear: to bring
glory to God –
"So whatever you eat or drink or whatever you do, do it all for the glory of God (1 Corinthians 10:31).

Clearly, using God's name to coerce donors into sending money that then ends up in the pockets of ministry/church leaders and their families is a misuse of the name of God, undermines the Gospel and trivializes the sacrificial work of Jesus.
Silence gives sanction to sin

However, in some cases, a ministry just simply refuses to be transparent, or has been found to have engaged in questionable or illegal practices. Is silence acceptable in such situations? Scripture teaches not, and in fact implies that silence gives sanction to sin –
"Have nothing to do with fruitless deeds of darkness, but rather expose them" (Ephesian 5:11)

The proper motivation

A Christian leader is to be a shepherd, have a willing heart, be guided by the
right motives and have a servant's spirit. Those that don't may be doing
"good," but they are not operating by God's precepts. Inevitably, such
management will bring shame to the practitioner, the Gospel and perhaps both.

Summary

While unscrupulous ministry leaders may reject independent accountability, there can be no question but that accountability is a biblical standard. It begins, of course, with each believer's relationship with God – "For we must all appear before the judgment seat of Christ, that each one may receive what is due him for the things done while in the body, whether good or bad" (2 Corinthians 5:10).

However, this is not to say that people are not accountable to one another. Those who would say that a person is accountable only to God ignore or fail to recognize that God has established human spheres of accountability – "All of you, clothe yourselves with humility towards one another, because God opposes the proud and gives grace to the humble" (1 Peter 5:5)
As noted previously, but worth repeating, those that serve as leaders – shepherds – are accountable to The Shepherd for how they lead their flocks

"Be shepherds of God's flock that is under your care, serving as overseers – not because you must, but because you are willing, as God wants you to be, not greedy for money, but eager to serve; not lording it over those entrusted to you but being examples to the flock" (1 Peter 5:23)
Having to be accountable is often not a pleasant task. However, the leader that wishes to grow in his or her relationship with God understands that being accountable to others is required –
"As iron sharpens iron, so one man sharpens another" (Proverbs 27:17).

Those that refuse to be held accountable to God's word by fellow Christ-followers invite suspicion. While pointing that out may not be popular, it is biblical.