A while back I did a post on Stephen Bennett, who was begging for money because he said 2007 was a horrible year for him. It was here that he said:
There have been months we have gone without — unable to pay simple necessities such as the ministry bills, the mortgage, electric, salaries, and personally doctor’s bills. The Lord doesn’t want this. We are to be responsible with what He provides and we are. We are frugal with every dime this ministry receives. Yet, as I said, we are at a major crossroad now. We can no longer go on operating the way we have.
He also stated this:
Last year was one of the ministry’s most difficult years of all. Many of you who work go to work full-time or part-time and know you are coming home with a paycheck either every week or month. That’s not the case here at SBM. In fact, last year, I had to personally take out a home equity loan to cover my salary for several months… or the mortgage wouldn’t be paid, nor our children’s tuition. I did that because I believe in this ministry more than anything. However, I will never do that again. I shouldn’t have to.
I also wrote:
And I’ll remind people that in Sept. 2007, when apparently he was mortgaging his home to pay his bills, he bought an SUV.
As reported by Jeremy Hooper at G-A-Y, OneNews said:
“Instead, Bennett’s ministry purchased a GMC SUV that will be used to crisscross the nation, transporting a ministry team of former homosexuals who will visit churches and give their testimony of freedom from homosexuality through Christ.”
Well, guess what. Stephen Bennett finally got around to filing his 2007 taxes (it was received Jan 29, 2009). And yes, he put the cost of his GMC SUV as an “investment” in his ‘non-profit.’ According to his 2007 tax statement, under ‘automobiles/transportation’, he has listed that the book value of this was $54,647!!! As I said, Stephen Bennett has listed this in his non-profit as an investment. And how much did Stephen Bennett and his wife make in 2007 off their non-profit? Stephen paid himself about 42,000 and Irene paid herself about 24,000. So together they made 64,000 in 2007 off this non-profit. But they spent 54,647 on a SUV and ‘transportation’! His 2006 tax statement does not have this category. Of course, I don’t know whether Stephen Bennett and his wife work outside this non-profit. According to their official tax statement, Stephen works 40 hours per week at it, and his wife Irene also works 40 hours a week. This doesn’t leave much time for other work. So he was worried about his kid’s tuition and paying the mortgage, but not worried about spending that much for a $55,000 car!!!
Just remember, Stephen Bennett was begging for money because 2007 was a horrible year for them—at least according to him. He supposedly had to take out an equity loan to survive. But that didn’t stop him from buying a brand new SUV that apparently cost about $55,000.
And despite the fact that he was begging for money for his ‘ministry’, his non-profit had nearly $73,000 in unspent money at the end of 2007.
There is definitely something screwy with the numbers on his tax forms as well. In his 2006 tax forms he claims that the ‘net assets or fund balances’ at the beginning of the year 2007 was $15,544. However, he has listed in his 2006 tax forms that ‘net assets or fund balances at the end of the year’ (2006) was $24,987. I would think that these numbers should be the same. Maybe I am wrong—I’m not a tax expert…