THIS JUST IN!

A news and lifestyle perspective — beyond the obvious!

The Golden Parachute of Jerry Falwell, Jr.

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn
Jerry Falwell Jr. and a family friend Credit: Instagram

Jerry Falwell, Jr. and a family friend
Credit: Instagram

by Pete (last name withheld), The Trinity Foundation

After analyzing Jerry Falwell Jr’s Liberty University compensation, Trinity Foundation estimates tax penalties of $1,530,383 on golden parachute payments of $10.5 million.

Excessive compensation is a scandalously common practice in many religious institutions that needs to be carefully researched and exposed.

After a series of embarrassing disclosures of moral failures, Jerry Falwell Jr. has resigned as president of Liberty University.

Falwell is expected to receive $10.5 million after resigning from the world’s largest evangelical university. According to The Wall Street Journal, “Mr. Falwell is due his $1.25 million salary for two years, followed by a lump-sum payment of about $8 million, because of a clause in his contract that allowed him to resign with full pay if his responsibilities were curtailed.”

Liberty University alumni, current students, faculty, journalists and concerned Christians are questioning the legality of these payments. If Falwell’s contract included a morality clause, the board of trustees could have fired him for cause and no severance package would be required.

Offering Falwell two years’ worth of severance pay is questionable at best. In an article addressing the issue of severance payments to nonprofit employees, law firm Wagenmaker and Oberly suggests that Liberty must be able to justify the expense.

More …

© 2020 The Trinity Foundation

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Sponsor

Recently Added

The Author

(C)WaitTilYouHearThis.com Website Admin (www.WebDesignManageSEO.com).
Follow

Get every new post on this blog delivered to your Inbox.

Join other followers: