JohnH wrote: ↑Fri May 22, 2026 9:35 pm
One does not "invest" in a nonprofit (Microsoft's investments in OpenAI notwithstanding), and in particular soliciting "investments" from private individuals is quite questionable. (It may also run afoul of securities laws.) The proper thing to do with a nonprofit is to make donations.
That’s what they are calling the financing they are asking for. Investments. Presumably not enough is coming in from donations to meet obligations, so offering interest bearing investments is the next step. Desperation.
JohnH wrote: ↑Fri May 22, 2026 9:35 pm
One does not "invest" in a nonprofit (Microsoft's investments in OpenAI notwithstanding), and in particular soliciting "investments" from private individuals is quite questionable. (It may also run afoul of securities laws.) The proper thing to do with a nonprofit is to make donations.
That’s what they are calling the financing they are asking for. Investments. Presumably not enough is coming in from donations to meet obligations, so offering interest bearing investments is the next step. Desperation.
I wonder who would be foolish enough to do this.
I've not read everything closely, but my impression is the investment is for real estate as a separate entity which would lease to the ministry. I don't see nonprofit loans/investment for real estate as too problematic per se. But it does create obligations for the ministry to pay rent to the real estate holding company, which could be unwise.
However did they manage to qualify for a $2MM Economic Injury Disaster Loan?
I'm inclined to believe what Mr. Lapp says about the bank officials telling him that it wasn't necessary to comply with the provision in the loan document that required him to obtain the bank's approval before borrowing money elsewhere. I've heard similar comments from bankers.
JohnH wrote: ↑Fri May 22, 2026 9:35 pm
One does not "invest" in a nonprofit (Microsoft's investments in OpenAI notwithstanding), and in particular soliciting "investments" from private individuals is quite questionable. (It may also run afoul of securities laws.) The proper thing to do with a nonprofit is to make donations.
That’s what they are calling the financing they are asking for. Investments. Presumably not enough is coming in from donations to meet obligations, so offering interest bearing investments is the next step. Desperation.
I wonder who would be foolish enough to do this.
I've not read everything closely, but my impression is the investment is for real estate as a separate entity which would lease to the ministry. I don't see nonprofit loans/investment for real estate as too problematic per se. But it does create obligations for the ministry to pay rent to the real estate holding company, which could be unwise.
Yes, but isn’t it a shell company whose single customer is broke?
I was wondering if this would make some headlines over here on MN.
My employer donates nearly a semi-truck load of food to them monthly. They got big way too fast. I knew that when I was still in the warehouse and dealt with the main guy, a Fisher, whose first name I cannot recall at the moment.
I am a bit shocked, but not really, both at the same time, at this.
1 x
Formerly know as steve-in-kville
Hippie Anabaptist, husband, father & grandfather (recently!)
Semi-professional philosopher & poet.
the-real-steve wrote: ↑Sat May 23, 2026 10:39 am
I was wondering if this would make some headlines over here on MN.
My employer donates nearly a semi-truck load of food to them monthly. They got big way too fast. I knew that when I was still in the warehouse and dealt with the main guy, a Fisher, whose first name I cannot recall at the moment.
I am a bit shocked, but not really, both at the same time, at this.
They’ve been affiliated with scammy type of things for a quite long time.
I was hoping BoH would be a change in direction for them…
When people become overconfident in their ability to discern, all kinds of bad things will happen.
2 x
A wee little man can’t say, I’m sorry. A big man owns his mistakes and apologizes.
A wee little man trusts himself and his own discernment. A big man is humble enough to know that he needs the counsel and input of others.
mike wrote: ↑Fri May 22, 2026 6:40 pm
Years ago, the chaplain at the prison where I volunteered told some of us a story about a volunteer who talked to the inmates about his ministry, telling them that he would write out checks in faith that the money would be there. An inmate raised his hand and said that some of the listeners had done the same thing. Needless to say, this was the last time this volunteer was permitted to speak in this prison.
The volunteer was from a local charismatic church. I think there is something about the charismatic name-it-and-claim-it theology that leads some to "declare" or "claim" something to be the case, believing it in faith, in hope that God will make it to be so. The idea of declaring something to be God's vision for oneself, or somebody else, or for an organization - this sort of thing. This kind of looks like that.
A student at our school is from a charismatic home where the bread winner quit working because God will supply. When we started calling about tuition we were told "you people not understand how God works." So far it seems God works through other parents shouldering the extra burden....
Ernie wrote: ↑Sat May 23, 2026 5:37 pm
When people become overconfident in their ability to discern, all kinds of bad things will happen.
Somehow, I smell the distinct odor of Bethel-Redding in this.
The Lapp origins are actually in some secular, non-Christian stuff that was big in the 1960s. I did a long post on it back in the MD days.
Back then they were trying to sell some kind of (secular) inner-healing experience which included several package levels including learning how to become a practitioner so you could go and sell it yourself.
