IHOPKC sells off some property for $1 to ELT member's new LLCs
International House of... Money trail continues with an interesting twist: ELT member forms two LLCs to "hold and manage assets"
I wrote “International House of… Money?” in February, and examined the web of ministries and organizations that were directly or loosely tied to IHOPKC. (If you missed that post, do read it for context; the paywall is removed). At that time, I analyzed some tax forms/ compensation reported for various IHOPKC-associated ministries, as well as highlighted the high-dollar Paycheck Protection Program (PPP) loans (Covid funding, which was all forgiven), and how it was reportedly used for “payroll,” to the tune of $3 million between IHOPKC and IHOPKC-FCF (Forerunner Church).
Tonight, I refer you back to that story in light of two new developments.
(Please note that I’ve linked to Missouri public records sites in here, which sometimes let readers click through (usually if you’re not on a VPN), and sometimes do not. All referenced links are publicly available free of charge with no registration.)
IHOPKC closing as it shifts to a new identity
The news of IHOPKC’s “closing,” as I reported here last night, and which continued to be reported with much more depth and breadth today, was a swift awakening to many. In fact, the disparate responses help confirm the fact that factions, indeed, exist. Some insist “the prayer room is not closing!” and others are busy making sure the closure, morphing into a new prayer room does not absolve IHOPKC from fiduciary responsibility (including, federal charges if applicable).
One email here, which seems to be the same version from the Roys Report, (each department, I understand, received an email, but this one from Prophecy and Healing has made its way around), was pretty direct, and absolutely uses the word closing.
Fiduciary foibles won’t fly
The second development arrived with the question of what happens when a large tax-exempt organization “transitions” into a new one (or more). Likely IHOPKC is under some sort of federal investigation, though I admit I have only heard rumbles of this. Most mega-ministries that face scandals such as these—tragically, this is not unique—also are investigated financially, if history is any viewfinder for the future.
Thankfully for most of us, Rebecca Hopkins, who wrote Tuesday’s piece in The Roys Report offers assurance via Boz Tchividjian, an attorney who is representing several Jane Does in this situation. Tchividjian told TRR (my emphasis is added in bold):
“The notion that they can just shut it down and start a new organization and all of that prior potential liability is wiped away is fantasyland. To suddenly take all the property, put it in name that would what I believe be called a fraudulent transfer. A court would not allow that.”
If IHOPKC can’t manufacture a “fraudulent transfer,” as Tchividjian states, but the ministry claims to be “bleeding $500,000 a month” as they told staffers and students in yesterday’s meeting, what can they do?
How ‘bout those assets?
One thing we do know about this organization is that they have assets, and they sure seem to be covering them. As I was prepping this post, the following public posts appeared in my X feed:
Of course, we only know that Mike and Diane Bickle own their own home (outright, as referenced here too), as the deed is in their name and there is no bank lien; these things are public records. Further, Diane was (is) a successful real estate agent. And Eric Oppriecht, about whom I have previously written when he appealed the tax assessment on Herrnhut Apartments, is a savvy businessman. Together, not even counting the experience and expertise of others on staff, it’s relatively certain money is flowing, just not in public view. From the start of this debacle of truth and justice, rumors have flown higher than the planes Stuart Greaves is licensed to fly.
Now one of the more recent Executive Leadership Team (ELT) members, Joseph Taylor, is appearing in the public financial mix. Taylor is one of the younger ELT members, a former staffer, who along with his wife, were gone for several years and returned back “home” to IHOPKC. He is well-liked and thought of to be more progressive. He’s also managed to stay out of the limelight.
Until now.
Knowing the things I do about how IHOPKC works, my guess (and that’s all it is here), is that someone else suggested that when it was time to move some assets around, Taylor would be the best person to use for the cover. I mean, frankly, he’d be my choice too. But choosing about three weeks before IHOPKC announces its closure wasn’t the best timing.
Remember Shiloh?
In my original financial story, I wrote this:
Shiloh was IHOPKC’s retreat center, in a secluded area near the prayer room, at the dead end of an otherwise residential area. I drove a member of the Executive Leadership Team (ELT) down there once for a staff retreat. Other IHOPKC events were held there. Shiloh has a house on the property. A source shared with me how it had become overrun and neglected. For a while a leader from another ministry was renting the house (he is now in another state). But further research shows that at least a portion of the area was sold in 2021.
Then I followed with a picture gallery, which I encourage you to look at in full, but here’s the main picture:
In 2021, IHOPKC-FCF (it’s official name for tax purposes) sold Shiloh to House of Prayer Ministries, Inc. for $1. It was a quitclaim deed, which is a very quick way to transfer property, basically.
And now, fewer than three years later we see SHLH 1 (Shiloh, anyone?) registered:
And then a whopping four days later:
But that’s not all because the other LLC got another part of the IHOPKC legacy.
Here’s TPL, which at first glance appears to be part of Shiloh Woods, but some of these parcels also show as having no address recorded, you know, the way land doesn’t always have an obvious address:
For the record, here’s a list of all the property currently owned (or that was listed as owned) by IHOPKC:
Clearly it doesn’t matter what names IHOPKC used in 2021, it was still shifting its assets all around, as evidenced by the fact the same organization was giving away the same property, and apparently even more. It remains to be seen how many LLCs are going to be cropping up, apparently right under our noses.
SHLH = Shiloh
TPL = Truman Property?
But now, it’s not with an IHOPKC ministry. Taylor may be affiliated, but on paper, it appears these two LLCs exist to manage assets, not to manage the hearts of believers. That’s probably a good thing.
SHLH 1’s State of MO business registration link is here.
And here is TLP 1’s business registration link.
And the old House of Prayer Ministries, Inc. is still active, too. It’s been through some revisions, but continues to file its reports, as required.
What is especially notable about the House of Prayer Ministries, Inc. biennial registration report is this:
Diane and Mike Bickle share assets, if the ownership of their home deed is any indication, so if her name is on here, it doesn’t matter if his name is or not. She’s an officer and a board member, so getting rid of Shiloh could make a lot of sense. And if more land and property is now being moved, then we can see the plan is in place. At least it could make sense on the surface. Let’s not forget what Tchividjian said about new companies. Remember how I emphasized some words: “new organization to limit liability”? Now you see where I was going.
What’s going on?
Friends, your guess is as good as mine when it comes to the organization I used to believe was good. All I can say is that I happened upon these doubles in the real estate viewers, and was a bit surprised they would move property under our noses.
Then again, maybe that’s exactly what they were counting on by this timing? That we wouldn’t notice.
Peek-a-boo!
Check the typo in the first picture in the gallery. I may dig this being a “hose” of prayer myself, as I join the multitudes feeling hosed. But I digress.
In wrapping up some of these conclusions regarding IHOPKC’s asset covering, I will add that most of us “old time IHOP” types remember when Shiloh Ministries was its own entity. The last time Shiloh filed an IRS Form 990 was the same year IHOPKC did—2015, for the 2014 tax year. At that time, Bickle was listed as the principal officer.
Shiloh was wrapped into the other IHOPKC ministries, most of which seemed to fall under Friends of the Bridegroom (FOTB, which, incidentally, is listed as the email address on House of Ministries, Inc’s forms), but since IHOPKC stopped being truthful with its members and donors about its ministries or offering us financial accountability, it’s been difficult for anyone to know the truth. However, the fact that these quitclaim deeds, and the one in 2021, all are listed as “IHOP” tell us what we know—they are all one—and they never stopped being one.
In 2015, however, the year Shiloh ceased filing Form 990s, House of Prayer Ministries, Inc. formed its nonprofit with the state of MO. While these documents are public record, I have redacted the personal addresses. But take a look at the page in the middle that is—ironically since the office is located on the street of the same name—askew. The statement about what the organization will do with money sounds like a license to do almost anything.
But House of Prayer Ministries, Inc. is also a registered nonprofit with the IRS, and it’s not a church, which means it’s required to post its Form 990s publicly. Here’s its latest. You can always use the IRS site and search by name or EIN number:
EIN: 47-4094442- House of Prayer Ministries Inc.
That said, in this past year, the ministry reports several hundred thousand dollars in land and building assets, and the land parcels associated with the TPL 1, LLCs, while needing a bit more clarity from Dr. Dénouement’s real estate guru contacts, are clearly listed as being worth at least $1.5 million. At least.
Dr. Dénouement is (obviously) not a real estate expert, but her eighth graders did rock the Texas state reading tests even when she refused to make them do stupid teach-to-the-test worksheets like the teacher down the hall. Inference is a skill good readers are expected to hone. It doesn’t make us right, though, and I admit it.
I cannot adequately conclude that House of Prayer Ministries, Inc., essentially gave away its major land asset of Shiloh to a newly formed LLC with exactly the same “registered agents” address in Harrisonville (this office does myriad LLC registrations, so that is not unusual, by the way). Either way, with both quitclaim deeds, the parent companies are clear: The International House (“hose”) of Prayer.
I cannot adequately conclude that Joseph Taylor, as probably the least-known, best-regarded ELT member was the logical point of contact for these two new companies so that assets could be moved from the nonprofit to the for-profit.
What I can adequately conclude is this: Right around the same week that I was quietly told that stipends were going away (I referred to this in my last post), two new LLCs were formed in MO—both in the same day, Mar. 21, 2024, which state the purpose of the newly formed company is the following:
“Holding and management of assets and any and all lawful business activities.”
Then four days later, the two companies were given—via quitclaim deed for $1—the Shiloh property and some portion of land(s) nearby.
Maybe the real question we need to ask is what LLCs are coming next, and which properties will be quitclaimed to them? At the end of 2020, IHOPKC received the titles to its properties, conveniently paying them off as Covid money was pouring in. Clearly we cannot know how that happened or if maybe a donor felt extra generous. But to posit that they have to cut staff and stipends because they are bleeding $500K a month when they own millions of dollars of tax-exempt property is a curious thing.
The other curious thing is that after yesterday’s announcements, today I woke up to this email from IHOPKC Legacy Planning, telling me how I could be a special part of the Legacy Society. I guess if I die between now and when IHOPKC takes a new name, they can get my estate. Except I don’t have one, so I don’t think that is going to work out too well.
But seriously, IHOPKC? You tell people you are closing, changing to just a church, stopping most of your ministries, but please, would we put you in our will?
Maybe after you tell us about your new LLCs?