Oral Roberts University reportedly owes over $50 million
{{date|October 25, 2007}}

In the midst of accusations of wrongdoing, the [[Oral Roberts University]] (ORU) Board of Regents Chairman {{w|George Pearsons}} said the school owes over $55 million in debt. According to {{w|Internal Revenue Service|IRS}} records, ORU had about $76 million in revenue in 2005, and its operating budget for 2007-2008 was over $82 million. One former regent member said that the endowment approached $60 million at its peak, but a university spokesman said the current endowment exceeds $34 million. 

In September {{w|Richard Roberts (evangelist)|Richard Roberts}}, who served as president since 1993, was accused of wrong-doing and stepped down temporarily last week. His father {{w|Oral Roberts}} returned to serve as a temporary president last week. On Monday night alumni, clergy from around the [[United States|U.S.]], and the people fired held a rally at Morningstar Baptist Church asking for Richard to permantly resign. They say Robert's temporary leave of absence "isn't enough."

==Related news==
*{{wikinews|title=Oral Roberts returns to namesake university amid son's scandal|date=October 22, 2007}}
*{{Wikinews|title=Richard Roberts takes leave of absence from Oral Roberts University|date=October 17, 2007}}
*{{Wikinews|title=More allegations filed against Oral Roberts University|date=October 14, 2007}}
*{{Wikinews|title=Oral Roberts University president accused of illegal political donations and financial misappropriation|date=October 5, 2007}}
==Sister links==
{{sisters
|wikisource|Swails, Brooker, Brooker v. Oral Roberts University
|wikipedia|Oral Roberts University
}}
==Sources==
*{{source|url=http://www.tulsaworld.com/webextra/content/2007/oru-lawsuit/default.html
|title=Oral Roberts University Lawsuit Collection
|author= 
|pub=Tulsa World
|date=October 2007}}
*{{source|url=http://www.iht.com/articles/ap/2007/10/25/america/NA-GEN-US-Televangelist-Scandal.php
|title=Oral Roberts Univ. 'struggling financially,' with more than $50M in debt, board chairman says
|author=
|pub=Associated Press
|date=October 24, 2007}}
*{{source|url=http://www.mlive.com/newsflash/national/index.ssf?/base/national-94/1193284860218190.xml&storylist=national
|title=Regents chairman says ORU $55M in debt
|author= 
|pub=Kalamazoo Gazette
|date=October 24, 2007}}
*{{source|url=http://www.t-g.com/story/1286442.html
|title=Televangelism leads to insularity
|author=
|pub=Shelbyville Times-Gazette
|date=October 24, 2007}}
*{{source|url=http://www.washingtonpost.com/wp-dyn/content/article/2007/10/24/AR2007102402111.html
|title=Chairman Says ORU Over $50M in Debt
|author= 
|pub=Washington Post
|date=October 22, 2007}}

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[[Category:Politics and conflicts]]
[[Category:Oral Roberts University]]
[[Category:United States]]
[[Category:North America]]
[[Category:Oklahoma]]
[[Category:Christianity]]
[[Category:Tulsa, Oklahoma]]
In the midst of accusations of wrongdoing, the Oral Roberts University (ORU) Board of Regents Chairman Internal Revenue Service|IRS records, ORU had about $76 million in revenue in 2005, and its operating budget for 2007-2008 was over $82 million. One former regent member said that the endowment approached $60 million at its peak, but a university spokesman said the current endowment exceeds $34 million. 

In September Richard Roberts, who served as president since 1993, was accused of wrong-doing and stepped down temporarily last week. His father  returned to serve as a temporary president last week. On Monday night alumni, clergy from around the U.S., and the people fired held a rally at Morningstar Baptist Church asking for Richard to permantly resign. They say Robert's temporary leave of absence "isn't enough."
Politics and conflicts Oral Roberts University United States North America Oklahoma Christianity Tulsa, Oklahoma