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The Living Church of God has released its financial statement. They took in over $20,000,000.00 last year and what do they have to show for it. 30 or 40 people at some public appearance Bible studies.
Note the outlay in salaries to staff and ministry vs the amount spent on the "gospel message".
You can read the entire financial statement here:
The 2020 Audited Financials are now complete and are available for viewing in their entirety online. Simply go to lcg.org click on “About Us,” then scroll to the bottom of the page and click on “Living Church of God: 2020 Consolidated Financial Statements.”
I have no doubt “That Prophet” will be closely examining this.
ReplyDeleteAnd little wee Bob Thiel will be weeping in his herbal tea when he compares “his church” bank statements to that juicy $20 mill income.
I wonder how Millionaire-Joseph-Tkach's cult is doing - also in Charlatan-Nth-Carolina.
ReplyDeleteI expect Flurry to proclaim a churchwide fast to increase offerings.
ReplyDeleteComment was made saying: "...Note the outlay in salaries to staff and ministry..."
ReplyDeleteIt looks like approximately 50% of the income is spent on SELF: maintaining the flow of paychecks and benefits to the organization's hirelings. Such a deal, but fruit?
But, by their fruits you/we know them...much like the united organization, and other xcogs!
And Living's/United's (choose another name) gospel message? There isn't very much "good news" in it as they have "another Jesus" and "another gospel," different from the gospel of Jesus Christ of the Bible. Their gospel has a lot of losers, and very few winners, if any, if they continue to think they can earn their salvation by what they believe are their doing of some "good works," works of SELF, but
Time will tell...
John
Wow-- Estate gifts were almost 1/3rd that of regular tithe income.
ReplyDeleteSo as long as people keep dying, it looks like the LCG is in great shape!
I remember GTA's reaction to seeing Joe Tkatch's budget - he said if he had that much money to use, he'd have his broadcast on every available outlet, including satellite specials. Of course, we can speculate on how GTA would spend a chunk of Joe's dough...
ReplyDelete
ReplyDelete“In the same way, the Lord has commanded that those who preach the gospel should receive their living from the gospel” (I Corinthians 9:14, NIV).
LCG expenses:
Preaching the Gospel............$8,637,568.00
PCG expenses:
Preaching the Gospel............$0.00, Zero, Doughnut, Nothing, Nil
Gerald Flurry claimed that preaching the gospel ended with the death of HWA.
I've been reading the Trumpet site a long time, so I know that your claims are untrue. Gerald claimed from the beginning in the 1990s that they would focus on warning the laodiceans for several years, then switch to the gospel. Which they did. The focus of the writings has since been that of a watchman, while often ending their articles about Christs return.
DeleteAnd no, I'm not member or ever have been.
ReplyDeleteEveryone should e-mail this excellent post to people they know in LCG, and ask them to distribute within LCG.
It is time for the young people especially to speak up!
smart move having people going to feast sites - hurry up those big estate contributions
ReplyDeletePreaching the Gospel............$0.00, Zero, Doughnut, Nothing, Nil
ReplyDeleteA local (non-COG) pastor has a minimalist approach to "preaching the Gospel" - 'preaching to the choir', saying 'God bless you' to everyone he speaks to (even if the haven't sneezed) and, the biggest, 'bring a friend to services' day, held annually.
The large change in estate gifts that occurred in 2020 ($4,971,000) compared to the previous year 2019 ($410,000) is significant for LCG. Did one or several large LCG donor members die in 2020? It is hard to imagine that it would be one millionaire member contributing to the difference. When I attended the parent WCG, I remember one older wealthier member telling me that he was thankful that he made his money before becoming a member of the Church because he certainly couldn't have done it after becoming a member. Of course, un-stated in his statement was the Church's 3 tithe system, offerings, holy day offers, building fund, etc.
ReplyDeleteTo LCG credit, they are being transparent by releasing their financial results. I wish we could compare with Dave Pack's business. And LCG operates its business WITHOUT the Dave Pack Communist Common doctrine of confiscating members' assets under Lake of Fire eternal damnation threat leaving his members destitute.
Richard
Why can't they be as transparent with individual salaries, attendance figures, etc.? Also, once a donation comes in from an estate, the deceased don't continue to tithe in following years. So, a bump this years in income might mean a drop next year and the year after, etc.
ReplyDeleteWhy? Because they don't really want new people to deal with. Oh they drone on about it enough, but they don't actually want hundreds of new humans to deal with. Not really. No thanks. Talking is one thing. Doing another.
ReplyDeleteThat's the real mystery of the ages. Complete control extends to the influx of the great unwashed as well as the ones inside already.
They still won't reveal details of $alaries, making these bastards no better than the Tkach!
ReplyDeleteUCG at one point in the beginning, claimed that they would release the TOP 5 salaries annually.
ReplyDeleteIm still waiting!
Why is someone, who is supposed to be from Church of God 7th day, waiting 25 years to know the TOP 5 salaries from UCG ????
DeleteHmmmmmm
It's been over 30 years since I stopped attending services, but I'm still living the negative effects of my church attendance. So your "mind your own business" comeback to posters is unwarranted. When Tonto or anyone else asks a question, there are thousands of readers from the ACOGs who are asking themselves the same question.
DeleteTwenty years ago, the PCG was bragging that they were "only" spending 50% of their income on administration, while the other splinters were spending over 70% on theirs. Considering the scaling back by most ACOGs on their broadcasts, the true figure will likely be worse today. Creative accounting would be consistent with these churches history of deceit.
I think not 10:29.
DeleteUCG never had any credibility nor earned any they are nothing more than mere Bible readers of the modern translations and completely brainwashed.
ReplyDeleteI question whether most of their members read their bibles at all. In my day, the worst from the WWCG went with UCG.
DeleteWhen I started attending services in the 1980s, my minister complained from the pulpit about members who hadn't prayed or studied their bibles for over ten years.
10:40 Anon. Half the ministry don't bother with their bibles (even during a sermon) these days, never mind the laity.
DeleteIn some countries, the average cost of a house is over one million dollars. So the estate income will be rich pickings for many COGs in the coming years.
ReplyDeleteIt's offensive that this is a closed system without true competition. Ministers can behave like the Gestapo, and still get the members loot.
Who is benefiting from the estates of guilt-ridden-fundamentalist-baby.boomer-Armstrongites: A new breed of GenX/GenY liberals who have learned to work the Armstrong playbook, and set themselves big secret salaries/perks/bonuses/early-retirements..?
ReplyDeleteUCG must spend most of their dollars on their ministers salaries. No wonder they have so little impact.
ReplyDeleteAt one time I had taken enough courses in financial and cost accounting to sit for the CPA exam in the State of Texas. I looked at the complete set of reported documents. I don't see anything wrong with these reports and schedules. Pretty routine. A lot of the behavioral and internal stuff you want to know is not revealed. It's not supposed to be. That's not the way auditing for these public reports works.
ReplyDelete******* Click on my icon for Disclaimer
20mill and what do they have to show for it? A declining membership, a gospel message (or some boring message that's no different from other television ministries and falling on deaf ears) and a bloated HQ staff? That money can dry up in a hurry and will with the way they treat their people.
ReplyDeleteI'm not an accountant and don't like dealing with money - however, it struck me as odd that the Net Assets, end of year for 2019, reported as $12,574,799, was higher than the Net Assets, beginning of the year, reported as $12,216,492.
ReplyDeleteShould not those two numbers be the same?
What happened to that $358,307 at the stroke of midnight?
I'm sure there is a legitimate accounting explanation - however, the real explanation is that LCG accounting is as dishonest as the legacy of their church.
I'm not a tax expert but I'm sure there are assets that can be rolled over. Probably to help with taxes
DeleteLCG needs every penny of their net assets in case payouts are necessitated by court cases, or even members going Ratzman again.
ReplyDelete
ReplyDeleteAnonymous at 3:26 AM said...“I've been reading the Trumpet site a long time, so I know that your claims are untrue. Gerald claimed from the beginning in the 1990s that they would focus on warning the laodiceans for several years, then switch to the gospel. Which they did. The focus of the writings has since been that of a watchman, while often ending their articles about Christs return. And no, I'm not member or ever have been.”
Stop babbling like an ignorant idiot. Hurry up and go join the PCG already. That appears to be the only way that you will ever smarten up.
ReplyDeleteTo Anonymous at 3:26 AM,
Here is how Gerald Flurry did away with the “great commission” to preach the gospel of the kingdom of God to the whole world (The CAPITALIZATION for emphasis is Gerald Flurry's.):
From MALACHI'S MESSAGE by Gerald R. Flurry:
“SO THE GOSPEL COMMISSION TO THE WORLD WAS FINISHED WHEN MR. ARMSTRONG DIED.”
Here is how Gerald Flurry REPLACED the “great commission” to preach the gospel of the kingdom of God to the whole world with a NEW commission for his PCG:
From MALACHI'S MESSAGE by Gerald R. Flurry:
“The PCG has been commissioned by God to warn the Laodiceans about their sins. The whole book of Malachi is about this commission.”
(From Malachi's Message posted online at the PCG's website.)
ReplyDelete“In the same way, the Lord has commanded that those who preach the gospel should receive their living from the gospel” (I Corinthians 9:14, NIV).
PCG expenses:
Preaching the Gospel............$0.00, Zero, Doughnut, Nothing, Nil
Gerald Flurry claimed that preaching the gospel ended with the death of HWA.
So, why is Gerald Flurry getting paid? Why are people paying Gerald Flurry to suppress and pervert the true gospel of the kingdom of God and replace it with “another gospel” that is really no gospel (good news) at all?
Yes, I understand that LCG is allowed to carry over assets - LCG will need those assets to pay off or hide their crimes.
ReplyDeleteWhat I am asking is why the 2019 ending net assets amount is not the same as the 2020 beginning] assets?
The Net Assets, end of year for 2019, reported as $12,574,799, was higher than the 2020 Net Assets, beginning of the year, reported as $12,216,492.
Should not those two numbers be the same?
What happened to that $358,307 at the stroke of midnight?
Can LCG explain that discrepancy?
Do the members care?
Assets depreciate in value over time. Buildings, vehicles and equipment lose value as they age so each year a certain amount of money on the balance sheet "disappears" as the value of the assets declines. In short, what LCG owns this year couldn't be sold for as much as it could have been sold for last year.
DeleteThanks for the explanation Anonymous of May 9, 2021 at 8:47 PM - that makes sense.
ReplyDeleteSo, LCG's assets lost $358,307 in value - instead of increasing in value because they are unwise servants. Seems that in the hot Charlotte real estate market, if LCG had invested in property, the gains on that would have more than offset the depreciation on assets such as automobiles.
Seems that in the hot Charlotte real estate market, if LCG had invested in property, the gains on that would have more than offset the depreciation on assets such as automobiles.
ReplyDeleteSeems that people attack Dave Pack for investing in property, yet attack LCG for failing to invest in property.
Anonymous of May 11, 2021 at 2:42 PM - you are correct, I do criticize one COG for investing in property while preaching Christ is returning tomorrow and criticize another COG for losing too much money on the depreciation of material possessions. I guess the underlaying complaint is that the COGs take from people, many of whom can't afford to give what they sacrifice to the COGs. In return, the COGs offer abuse, instead of comfort and sound biblical instruction.
ReplyDeleteThe COGs are not big on helping needy neighbors and their fake gospel message garners far less converts than is statistically probable for any crazy belief system being marketed to a booming and gullible world population.
I have a relative who gave the vast majority of his large inheritance to LCG. Now that he is older, he needs financial assistance from the extended family - LCG won't help him. Family members help him; but limit the direct cash, knowing that he will give too much of that money to LCG.
3:33
ReplyDeleteMost anything WCG aquired appreciated in value, land, buildings, art, armstrongs cutlery.
Nck
I have a relative who gave the vast majority of his large inheritance to LCG.
ReplyDeleteEven Rod Meredith's children didn't do that. If your relative did, blame it on him, not on LCG.
May 12, 2021 at 8:07 AM said "Even Rod Meredith's children didn't do that. If your relative did, blame it on him, not on LCG."
ReplyDeleteI'm not sure if I believe anyone foolish enough to believe the LCG "gospel" gets what they deserve.
However, I am sure that it is evil of the LCG to swindle the gullible by telling them that where their money is their heart is also and the won't make it into the Kingdom unless their whole heart is into doing "the work" by sending their money to the LCG.
Perhaps the Meredith kids did not donate the majority of their inheritance to the LCG because they know the truth about the deceptive LCG.
The majority of Meredith's kids are not even legitimate LCG or COG members. Their actions prove that. They are just as money-hungry as their dad was when he used 3rd tithe to remodel and decorate his home on Waverly Drive. I doubt they could even be classed as Christians.
ReplyDelete
ReplyDeleteDifferent DOCTRINAL CHANGE Extremes
Roderick C. Meredith (LCG): Two-fold, or hybrid, gospel message. (RCM's “doctrinal upgrade” to compete against what Herbert W. Armstrong had taught.)
Gerald R. Flurry (PCG): No gospel message. (GRF's “new commission” to do something else instead of what Herbert W. Armstrong had taught.)