Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Thursday, 23 December 2010

A Religious Marriage of Convenience?

Tucked away in the Order Paper for Tynwald this Tuesday (see http://www.tynwald.org.im/papers/orders/2010-2011/ko21122010.pdf) we see as Item 4:

“The Hon Member for Glenfaba (Mr Anderson) to move –That under Standing Order 4.34, on the petition of the Promoters, John Bingham, Robert Terence Easton and Avril Kneale Teare as the Trustees of the Broadway Baptist Church, and as the Trustees of the Alpha Centre Trust, and of the said John Bingham, Robert Terence Easton, Avril Kneale Teare and Clive Graham Swift as the Trustees of the Well Trust, the petitioners having certified the required compliance with Standing Orders, leave be given to introduce the Broadway Baptist Church Bill 2011.”

So, what’s that all about?
Well, if anyone was to ask officials at our second most bonkers local evangelical cult, they’d probably explain that the 19th century charitable trust which established the church was a little out of date, and so they’re tidying up a little, also combining the charitable trusts which established their bookshop/cafĂ© and their various ‘outreach’ programs.
This is true – sort of – in that charitable trusts can only carry out the tasks mentioned in their charter, and benefit those named. Charity law – even on the Isle of Man – is irritatingly obstructive to faith-based fraudsters and tax dodgers, especially if the trust was drawn up way before the modern business and charity law which paved the way for our offshore finance sector.
But closer analysis of the Bill reveals more interesting things.
What the Batshits are actually doing is winding up the trusts, in particular the 19th century one for the church itself. The problem is, winding up a trust requires that you hand what assets are left over to the named beneficiaries, who my guess would be are something like paid up bona fide members of the church or other local Christian worthies, and my other guess is those now controlling the gaff don’t want to do that.
What they actually want is for real ownership and power to pass from ordinary local Christians (who can’t be trusted to go with the program the cabal running Broadway Baptists are drawing up) and to an English silent partner in their shady deals. The way they seem to be planning to do it is to close the charitable trusts and regroup the assets and enterprises into a limited by guarantee company, which will also be registered as a Manx charity.
The main advantage of this is that a limited by guarantee company has named guarantors (usually three or four folk playing a trustee-like role who agree to contribute a token pound or so if the company is wound up) not named shareholders. So, the real ‘owners’ of the company are not on record, or even traceable through any nominee shareholders who represent them.This would be extremely advantageous if those owners were, say, a religious organisation in another country which doesn't want the world at large to know it has offshore assets, or religious zealots in an offshore jurisdiction to know that their place of worship is owned by money-grubbing foreigners who will flog it to the highest bidder.
The real clue comes in section 8 of the explanatory literature, that dealing with dissolution, where it casually mentions that “The ultimate beneficiary shall be Spurgeon’s College”.
Oh dear!
Just a short guide to trust law jargon here. Trusts have ‘beneficiaries’, who are individuals or institutions who the person or institution settling the property of the trust wants to have some day to day benefit – could be, for example, a relative of the settlor needing school fees, the homeless or someone getting a grant to study something. The ultimate beneficiary is the person or thing that gets everything when the trust is wound up.
Another clue is in the blurb about the ‘Statement of Faith’, and the desire to change this so as to fit in with the Evangelical Alliance ‘basis of faith’. The EA has come up in this blog a few times (for example, their attempts to prevent civil partnership ceremonies, their opposition to schools tackling bullying of seemingly gay pupils, their strange decision to revise the definition of a ‘cult’ so as to allow the dangerous Jesus Army cult to join the Alliance), but would be familiar to anyone who studies nutjob evangelicals of the UK.
To anyone else - they’re Fruitcake Central, with numerous links to Westminster, seats on all the QUANGOs going, and also pretty much run the religious advisory bodies at the BBC. Most baffling of all, although they’re amongst the most homophobic and sexist elements of the UK Christian community, their head honcho, Joel Edwards, sits on Equal Opportunities bodies on the dubious basis that he and a few other EA figures are black, ergo nasty educated liberals and gays are somehow ‘discriminating’ when they object to the theofascist cretinism sometimes spouted by EA affiliates as ‘sincere’ faith.
Spurgeon College , which is named as ‘ultimate beneficiary’, is, by the way, the EA’s ‘educational resource’ – more accurately, a fundie bible college which actually detracts from the sum of human knowledge.
This, added to various adverts which have been appearing since early 2009 in UK Baptist newspapers and magazines unsuccessfully appealing for a new Broadway pastor, suggests that the place is in serious trouble.
Will it close?
Sadly, I fear not, and I also doubt that it’s a sign that pitifully poorly informed civil servants and politicians will finally pull the plug on dubious ‘social outreach’ schemes which run from the Alpha Centre.
What it might signal is that the only serious asset the church has left, i.e. the property, is being lined up for sale and redevelopment at a convenient future point. The area immediately around it is deteriorating fast and, as coincidence would have it, the property developer most likely to snap it up used to employ the retiring Attorney General (to whom the whole current deal has to be referred) and also the only local legal authority on ecclesiastical law.
Convenient coincidence or cunning planning?
We may have to wait another year or so to find out.

Tuesday, 26 January 2010

Jesus invests - badly

I just can’t stop smiling at a Guardian story posted today.
In a nutshell, back in 2007 the Church Commissioners (that’s the C of E’s investors) stuck £40 million into a massive Manhattan property investment.
It wasn’t a nice project. In fact it was one of those gentrification schemes based on winkling people out of the last affordable housing in the area then flogging the homes back to far wealthier trendies who could (but never do) choose to live anywhere but the area you and your neighbours have struggled for decades to make decent.
In fact, it’s a far cry from that socially responsible line the church preaches for others. So much for love thy neighbour and all that. See http://www.guardian.co.uk/business/2010/jan/25/church-loses-40m-in-new-york for the gory details.
Never mind. Forty mill down, but at least they learnt a valuable lesson, i.e. that good triumphs over evil, and people who stick together can see off greedy foreign developers who would destroy lives and communities for quick profits.

Thursday, 3 December 2009

The real value of Christmas

I’m still looking out for those ‘’Christmas cancelled by PC loonies” stories, but I have to report that a much funnier new trend has been spotted too.
Can’t say I’ve ever noticed it over here, but it seems competitive parents are spending small fortunes on kids costumes for school nativity plays. What makes this hilarious is that the spending is even greater if little Tarquin or Tabitha only gets a bit part.
According to Debenhams, parents can spend as much as £150 on a costume, including £50 bridesmaid dresses being used for angels, £60 arctic fur throws costing £60 for sheep and even £25 striped Velour dressing gowns for shepherds.
A Beeb website story (see http://news.bbc.co.uk/1/hi/education/8393701.stm) quotes Ed Watson of Debenhams thus:
"The amount of money that some parents want to spend on their child's nativity play appearance would enable the baby Jesus to leave the stable and check into a five star hotel.
"It's silly and we're doing all that we can to persuade competitive parents to change their minds - it is the season of good will after all."

Looks more like evidence of what traditional Manx used to call ‘Foolish Fortnight’ (the medieval ‘Feast of Fools’) to me. Oh, and more than a hint that even upmarket Christians can be totally bonkers.
Someone should take these buffoons aside and explain, in very short words, that the whole point of a real school nativity play is it’s totally naff. Kids fidgeting, fighting and getting the words wrong, bad costumes thrown together at the last second, the donkey doing a woopsie…….
Did you really think it was supposed to be a deeply religious moment?
And you really didn’t think your kids are supposed to make people weep with the sheer beauty of it all, thrill to their delicate and meaningful interpretation of biblical myth?
No!
Did you?
Really?
How sad is that?

Sunday, 12 October 2008

Let Us Prey

There’s an old joke about bureaucrats dealing with every disaster by forming a committee. Similarly, you will be relieved to know, Manx churches also intend to deal decisively with the current international financial crisis.
They are holding a Day of Prayer next Thursday. Not to be outdone, the Buddhists are also offering weekly classes in achieving ‘inner peace’ at £5 a go. Even funnier, the Buddhist nun running them used to be a chartered accountant!
The current Anglican Bishop’s invitation for all to join in is on the Isle of Man Newspapers website at http://www.iomtoday.co.im/news/Day-of-prayer-in-light.4580653.jp if you want to know more, while the Buddhist bid for punters is at http://www.iomtoday.co.im/news/Seek-inner-peace-with-Buddhist.4577670.jp .
One thing intrigues me – the Bishop says ALL Anglican churches on the island will be open. This is ambitious, given that most parishes of three or four small churches stagger by with a few lay clergy supporting one professional vicar.
Some years back, the Synod seems to have decided that not replacing vicars, combined with selling off their rectories as they retired, would be the best way to balance the Diocesan books. In theory, the full-time clergy are gradually replaced by ‘hobby vicars’ – generally retired people or professional types coasting towards retirement who have trained as lay readers. This saves on salaries and increases the conservative voice in Manx clerical circles, while simultaneously reducing that irritating tendency towards liberal views seen in Manx professional clergy who have been ‘in the business’ all their lives. Crikey, some of them even favoured lady vicars and weren’t homophobic!
Another point is that, by the Synod’s own admission, 52% of their churches are ‘surplus to requirement’. We know this from the 2004 Manx government document ‘Study of Places of Worship’ – described as 'a jointly commissioned report by the Department of Local Government, Manx National Heritage and the Diocese of Sodor and Man into the architectural, historical, structural and pastoral significance of local churches'. It caused some controversy when the guy commissioned to write the report inadvertently let slip information given him in confidence suggesting the Diocese might already be lining up buyers.
So is this a last bid for punters before the big sell-off? Or just religionists mining misery for cash as usual?