Harold Camping's Evangelical Radio Network Facing Apocalyptic Money Problems
Apparently, all that money Harold Camping, prolific Rapture predictor and founder of the bible-thumbing Family Radio network, spent on preparing everyone for an early Judgment Day has made post-prediction life kinda hard for him, financially speaking.
According to CBS News, Oakland-based Family Radio has sold its three largest radio stations, and tax records show the nonprofit network saw its net assets drop to $29.2 million by the end of 2011, from a net worth of $135 million four years earlier.
See Also: Harold Camping Sucks at Math
The news station reported that by the end of 2011, Family Radio had a little less than $283,000 in cash on hand, down from $1.5 million at the start of the year and $2.5 million at the end of 2008. Records show the radio network took out a $30 million loan to keep operating while awaiting money from the sale of the stations.
Meanwhile, the network spent millions of dollars, some coming from Rapture donors who kicked in their life savings, to place thousands of billboards across the nation warning everyone that the world would end -- twice.
Of course, as you can see, the world is still intact and Camping, now 91, has since retired from the world-ending-prediction business to deal with real-life matters.
Board member Tom Evans swears to God that the radio network is not closing anytime soon. "Sufficient funds were in the bank and, thankfully, we didn't spend everything," he said, referring to the May 2011 (failed) prediction. "But it did force us to make quick changes."
Presumably, the new business plan does not include world-ending line items.