The Church of Scientology fills its coffers with millions of dollars in donations from A-list celebrities like Tom Cruise and John Travolta, as well as those from other members, but as a tax-exempt organisation its financial dealings have been a closely guarded secret — until now.
One week after RadarOnline.com’s explosive report on never-before-seen Scientology tax documents, still more forms have emerged that paint a picture of just how wealthy the controversial organisation is: According to the documents, only two of its many offshoot organisations are worth more than $US1.2 billion combined!
Newly leaked 2011 990-T forms for the Church of Scientology International and the Church of Spiritual Technology show that the organisations’ combined “book value,” or the value of their total assets, is $US1.2 billion.
Of that, $US790,758,896 in assets belong to the Church of Scientology International, and $US434,487,317 is earmarked as from the Church of Spiritual Technology, an offshoot organisation of the church.
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In addition, forms reveal that the notorious Celebrity Centre International in L.A. is worth $US39,392,879, according to 2011 tax documents. And Scientology’s Flag Ship Organisation in Clearwater, Florida, is worth a staggering $US209,655,686, according to 2012 tax forms.
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Though the numbers are stunning, these figures represent only a small fraction of the Church’s overall worth. As a tax-exempt organisation, Scientology is not required to disclose their overall income, only unrelated business income that is not related to everyday church operations.
In addition, former Scientologist Mike Rinder told TonyOrtega.org, “I suspect the figures listed as ‘book value’ are the lowest valuations of assets they think they can get away with.”
The forms “only a glimpse of a part of the picture,” he notes, but says “This confirms what many have said: Scientology is an astonishingly wealthy organisation.”
These revelations, he claims, are “a window into … Scientology.”