By the time thousands of parishioners stream into the 3,000-seat Ebenezer AME Church on Easter Sunday, church leaders hope to have something else to celebrate: financial revival. The congregation, one of America’s largest, has been scrambling to raise funds to save the arena-sized sanctuary from potential foreclosure. To that end, it has enlisted national leaders, such as the Reverend Jesse Jackson and Harvard Law School’s Charles Ogletree, who was President Barack Obama’s law professor. Thanks to its 10,000-member congregation and connections with business and civic leaders, Ebenezer expects to avoid the fate of a growing number of U.S. churches, which are defaulting on loans, facing foreclosure and even declaring bankruptcy at an unprecedented pace. “It’s happening to virtually every church,” said the Rev. Grainger Browning, senior pastor of Ebenezer. “At a recent meeting with the 100 top pastors in the country, it was amazing how all of us were facing some sort of challenge with the banks.”
Most Popular Articles
Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time?
Fortune Magazine and Great Place to Work this week announced the winners of its 2020 Best Companies to Work For list, ranking America’s best workplace environments for large companies. And multiple industry titans in the housing space made the list.