Trinity Broadcasting Empire Owns $167 Million in Real EstateSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


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Trinity Broadcasting Empire Owns $167 Million in Real Estate
 


15 August 2008 at 2:54:42 PM
salon

From the OC Register

THIS IS NEWS?

The reason why this is considered news was summed up rather well by a reader commenting on The Watchdog’s last Trinity post: “What is a non-profit organization doing holding $327 million in mortgage-backed securities?” the reader noted. “Aside from the risk in such an investment, it implies that the ministry has enough extra dough lying around (not going to ministry purposes) to buy speculative investments….I can’t believe they have enough money for speculative investments and then go on the air and ask for more dough!”

If Trinity did not have nonprofit status from Uncle Sam, it would likely be paying millions upon millions in taxes each year into public coffers.


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