Join us on our podcast each weekday for an interesting story, well told, from Charisma News. Listen at charismapodcastnetwork.com.
Trinity Broadcasting Network has fallen on hard times, with revenue falling almost $30 million dollars in 2012 alone.
According to a Form 990 filed with the Internal Revenue Service, the network—whose influential founder Paul Crouch passed way in November 2013—saw massive nosedives in income between 2011 and 2012.
In 2011, the network reported $95.6 million in "Contributions and grants," while in 2012 they only received about $78.3 million. Under "Investment income," 2011's reported $17.2 million shrank to merely $4.9 million—totaling their losses in these two categories alone to about $29.6 million.
Why the decline? While still reeling from the death of Crouch, TBN is also embroiled in a million-plus dollar lawsuit with Crouch's granddaughter, Brittany Koper, in which Koper released stunning allegations of unethical financial practices. TBN denied the allegations, and the lawsuit was thrown out.
TBN has also weathered criticism against Paul and Janice Crouch's indulgent lifestyle, whose two salaries together equaled a stunning $765,000 in 2010.
TBN's website refers to the network as "world's largest religious network and America's most watched faith channel."
Draw closer to God. Experience the presence of the Holy Spirit every month as you read Charisma magazine. Sign up now to get Charisma for as low as $1 per issue.
Has God called you to be a leader? Ministry Today magazine is the source that Christian leaders who want to serve with passion and purpose turn to. Subscribe now and receive a free leadership book.