First Family Church (Rev. Jerry Johnston) faces foreclosure

[KCMax]

I don't usually engage in schadenfreude, but I have not been a fan of Jerry Johnston since he spoke at our high school way back when and lectured us on the evils of Nirvana. He has since been prominent in hosting his own Sunday morning TV show on KMBC and rallying as a moral crusader against evils like gay marriage and abortion rights.

Mega church faces foreclosure over $14M in mortgage, other costs

[kansas]

dude is a grifter

[shinatoo]

I have personally worked with Rev.Johnston on a one on one bases many times and I have nothing good to say about him. He is the poster child for everything that gives Christians and ministers a bad name. Huckster is the best word i can give to it.

[shinatoo]

From the Star article

BUUUUUULLLL Crap!

If you were a bank would you rather have a client that is current on its payments and continues to pay, or would you rather have an empty building that can only be used as a church, or; torn down and redeveloped. The bank doesn't want that building and would probably do everything they can to keep a paying client in it.

[KCMax]

Yea, I read that. Makes you wonder why the bank did that. Worried the church would soon default?

Also, who negotiated the terms of the mortgage that would allow the bank to do that at their discretion?

[chingon]

"immense pressure from federal regulators"

Good to know right-wing money-changers will NEVER, EVER pass on an opportunity to preach politics from the pulpit. Tax these motherfuckers already.

[KC0KEK]

"Regions Bank had recently accelerated the mortgage maturity from 30 years to five years"

I didn't know that a lender could change the terms of a mortgage. Is this common in commercial lending?

[shinatoo]

"immense pressure from federal regulators"

Good to know right-wing money-changers will NEVER, EVER pass on an opportunity to preach politics from the pulpit. Tax these motherfuckers already.

If they support a specific candidate they can lose tax exempt status. But this is one church out of thousands.

[kansas]

"Regions Bank had recently accelerated the mortgage maturity from 30 years to five years"

I didn't know that a lender could change the terms of a mortgage. Is this common in commercial lending?

The acceleration terms are in the mortgage or note.  Could be due to the church's current financial state, would be my guess - maybe a tax lien or other event or default.  I wouldn't be surprised if the financing for that facility was somewhat creative. 

[KCMax]

The acceleration terms are in the mortgage or note.  Could be due to the church's current financial state, would be my guess - maybe a tax lien or other event or default.  I wouldn't be surprised if the financing for that facility was somewhat creative. 

Whatever dude. Obama is out to get them.

[grovester]

Glen Beck will be all over this.

[Highlander]

If they support a specific candidate they can lose tax exempt status. But this is one church out of thousands.

Is that true?  I always hear this but then again the tax-exempt Sierra Club endorses candidates every year.   

http://www.sierraclub.org/politics/endorsements/

[heatherkay]

Since the 1960s, the Sierra Club does not have tax exempt status.  From their website:

"Note: Contributions, gifts, and dues to the Sierra Club are not tax deductible. They support our effective, citizen-based advocacy and lobbying efforts."

There is a separate Sierra Club Foundation that is tax exempt that does not do lobbying or advocacy.

[Highlander]

Since the 1960s, the Sierra Club does not have tax exempt status.  From their website:

"Note: Contributions, gifts, and dues to the Sierra Club are not tax deductible. They support our effective, citizen-based advocacy and lobbying efforts."

There is a separate Sierra Club Foundation that is tax exempt that does not do lobbying or advocacy.

Thanks for the clarification.  I've always wondered how they were able to endorse candidates. 

[KCMax]

Rev. Jerry Johnston's First Family Church may undergo 'catastrophic' receivership

Regions Bank wants a receiver to take over "all keys, combinations for locks or other access codes, books, records, accounts, operating statements, reserve accounts and the like" on First Family's property.

First Family countered in court filings that the appointment of a receiver would be "catastrophic" to the church's future.

[FangKC]

It appears the Johnston family uses the church as a family cash cow. I've always been suspicious of Jerry Johnston. There is something about him that raises my ire.

What ever happened to the clergy taking a vow of poverty? 

I predict that any investigation will show impropriety.  The members of his church should wake up and leave.

[mlind]

It always seems like these guys start out fine and then become corrupted by money, power, etc. 

[shinatoo]

There is a big ego boost from being in front of, and adored by, that many people. The religious schools I have been around talk about that quite a bit and the pitfalls that can be associated with it. Plus, when you are as successful as First Family, you become a target for people that feel like you stepped on them or rolled over them, just like in any profession. That's one of the reasons some churches like the Methodist and Episcopalians move their pastors every four years. The cult of personality is a cult.

But Jerry was a d-bag before he ever started that church. In fact I would guess he started that church, in that part of KC, specifically for profit.

[aknowledgeableperson]

What ever happened to the clergy taking a vow of poverty? 

About the only ones that I know of would be nuns.  Of course, many of the "rich" clergy say they make their money from book sales and such and take "minimum" salaries from their churches. 

[droopy]

It always seems like these guys start out fine and then become corrupted by money, power, etc. 

That was the thought running through my head leaving the Vatican.