The Case of the Vancouver Property Purchase
Posted on July 17th, 2006 by catalyst into the Uncategorized categoryHere's the latest take on City Bible's recent Ice Rink acquisition. This comment comes from new commenter MarcEstesMidLifeCrisis:
It makes good business sense. CBC has no liability in the loan or the building, and the partners can make a profit, something the church can't do. Plus the LLC provides a firewall between the church and other organizations.
The name of the LLC pretty much says it all. If they had actually bought the building expressly for the church, they could have named it CBC Vancouver, or CBC North, or Frank's Love Shack. Instead, they named it something innocuous so other groups will rent or lease from them.
A few years in the future, if property values go up, Bruce can sell the building for $$$ and CBC still keeps its lease. Or if property values stay steady, Bruce can sell the property to the church under market value and claim the remainder as a donation. CBC gets the building at half price, Bruce gets a huge tax deduction.
Just like God intended.
Well, at least it's an intelligent business move. This doesn't bother me as much as the constant preaching of wealth from the pulpit.
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July 17th, 2006 at 8:26 am
What Would Jesus Do?
Jesus would be a great business man.
July 17th, 2006 at 11:42 pm
Phase 1 was to acquire the property. Phase 2 will be to brag about it nonstop. Although home prices, as well as sales, have cooled considerably over the past year, commercial property has not. Ask any broker in the Vancouver area for a retail space for sale. There isn’t any available. A great many businesspeople or investors were competing with CBC.
Bruce and co were definitely not in a bidding war just with other churches. That’s just CBC spin. If you ask Jack why they were chosen over all others it would go something like this: “Well CBC members are all tithers, and you know we are all doing battle against the powers and the principalities. And the more you tithe, the more you win against the powers and the principalities. And those other churches, they don’t tithe as much, so God protects them from powers, but not principalities, or maybe God protects them from principalities, but not powers. Either way the powers and the principalities made it so those other churches didn’t win the sale.”
I’ve heard Jack speak. He can’t remember more than one verse at a time.
The reality is that there was an agreement between Bruce and CBC for some sort of “safe harbor” lease agreement which helped attain financing approval. Otherwise, the news articles wouldn’t mention anything about CBC at all. I bought a car. It gets me to church once a week. But I don’t tell my buddies I bought a car for CBC.
The kickback is this: CBC helps Bruce get the building. Bruce gives CBC a cushy lease. CBC gets 3 additional tithes per week. Bruce gets all referrals for the building (Eternity plays start out with people sliding to Hell going, “Where am I? And why is it so cold and slippery?), CBC gets additional tithing from Bruce, Bruce gets a bigger tax deduction, CBC gives Bruce a chair on stage moving Jack closer to the door. Jack’s decrepit soul dies a little more inside.
If this were a medical office, this deal would have been illegal under FTC rules. Since it’s a church, the FTC might not care, but the accounting department in Heaven is probably pissed.
July 18th, 2006 at 12:03 am
I just think we should have church services ON the actual ice rink, while everyone skates around.
But that’s just me.
July 18th, 2006 at 5:44 am
To be fair, CBC is hardly the only church that does this.
This is something that’s wrong with the American Religious Community not just CBC. (I’m quite certain the Mormons and Catholics are doing the same thing).
July 18th, 2006 at 6:05 am
I’ll bet it’s Ed Schefter’s dream to have Eternity on Ice!
July 18th, 2006 at 6:23 am
I think we just found our first entry for “Comment of the Year”.
July 18th, 2006 at 8:54 am
So does that mean it really will be a cold day in hell?
July 18th, 2006 at 8:56 am
I nominate this post above mine! hahahahaha
July 18th, 2006 at 10:08 am
PRICELESS…