DECEMBER 21, 2015
It was only a matter of time and that time has finally come. Besieged by at least three different lawsuits, an arrest warrant in Colorado and hundreds of refund requests after cancelling Acquire the Fire Events, Teen Mania can no longer operate. These are the results of Ron Luce’s absolutely epic financial mismanagement.
From the World article:
In a statement posted on Acquire the Fire’s website, Luce said the organization will file bankruptcy to liquidate remaining ministry assets “in an attempt to
satisfy vendors.” Luce told Christianity Today he’s doing everything he can to “make it right with youth groups and churches.”
Calvin Edwards, founder of an Atlanta-based consulting
firm that has evaluated hundreds of nonprofits—including Teen Mania—in
more than 50 countries, told me most people should not expect to receive
anything.
“Obligations to creditors (accounts payable, debt,
LOC, etc.) and to donors (funds given but not spent as designated) both
create liability and risk, but there is virtually nothing a disgruntled
party can do,” Edwards told me via email. “Once the assets are gone,
there is no recourse.”
Edwards’ company led a comprehensive audit of Teen Mania in 2011 and made 32 recommendations, but “it was met with strong opposition from Ron Luce, who sought to maintain the status quo.”
“[There is] really no excuse for the mess,” Edwards said.
Unsurprisingly, it appears that Ron is already planning his next venture and has filed paperwork for the name “Generation Next.” In a couple of years he will probably be back on the scene raising money to support his lavish lifestyle while pretending the money is used on missions. Hopefully, this time people will be less likely to fall for his charisma and more likely to research the man who headed the fifth most insolvent charity in America.
http://recoveringalumni.com/
It was only a matter of time and that time has finally come. Besieged by at least three different lawsuits, an arrest warrant in Colorado and hundreds of refund requests after cancelling Acquire the Fire Events, Teen Mania can no longer operate. These are the results of Ron Luce’s absolutely epic financial mismanagement.
From the World article:
In a statement posted on Acquire the Fire’s website, Luce said the organization will file bankruptcy to liquidate remaining ministry assets “in an attempt to
satisfy vendors.” Luce told Christianity Today he’s doing everything he can to “make it right with youth groups and churches.”
Calvin Edwards, founder of an Atlanta-based consulting
firm that has evaluated hundreds of nonprofits—including Teen Mania—in
more than 50 countries, told me most people should not expect to receive
anything.
“Obligations to creditors (accounts payable, debt,
LOC, etc.) and to donors (funds given but not spent as designated) both
create liability and risk, but there is virtually nothing a disgruntled
party can do,” Edwards told me via email. “Once the assets are gone,
there is no recourse.”
Edwards’ company led a comprehensive audit of Teen Mania in 2011 and made 32 recommendations, but “it was met with strong opposition from Ron Luce, who sought to maintain the status quo.”
“[There is] really no excuse for the mess,” Edwards said.
Unsurprisingly, it appears that Ron is already planning his next venture and has filed paperwork for the name “Generation Next.” In a couple of years he will probably be back on the scene raising money to support his lavish lifestyle while pretending the money is used on missions. Hopefully, this time people will be less likely to fall for his charisma and more likely to research the man who headed the fifth most insolvent charity in America.
http://recoveringalumni.com/
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