Former Big 4 Auditor: Dark Clouds Loom Over Harvest Bible Chapel

A former “big 4” accounting firm auditor is raising red flags about the future of Harvest Bible Chapel. Jason Watkins, who has analysed Gospel for Asia’s finances on this blog in the past, predicts tough financial times ahead.

Given reduced offerings and the outstanding $42-million in debt, the church may need to further reduce staff in order secure additional financing and live within their means. There is also the matter of severance payments for James MacDonald and other departing pastors which will encumber the church.

Watkins prepared a series of charts to depict the situation. They show that the church’s giving is 79% off from the budgeted amount for their Closer campaign. Regular giving is off by 50% compared to previous years. Here are two images with links to the supporting charts:

Donations are down 50% over 2016 and 2017 at the same time of the year.  More figures supporting these charts can be viewed here.

The response to the Closer campaign is even more distressing. Additional figures from HBC sources showing giving from 2016-2017 can be viewed here. That chart also shows the pledges for the Closer campaign.

Members and leaders of HBC face a reality check over the next several months. This information is provided in this format to assist members in this process. Faced with a similar reality, Mars Hill Church fragmented into autonomous local churches. Some didn’t make it and some have thrived. Perhaps HBC will follow that path.

It has been reported that Lawrence Swicegood from Gateway Church is involved in assisting HBC. Mr. Swicegood helped Gateway put a good face on their recent layoffs and he may find a way to assist HBC. A potential pitfall for HBC would be to be acquired or bailed out by Gateway and compromised in doctrine by such a link. In any case, it seems likely that dramatic changes are in store for HBC.