News from the OCA

Monday, March 30. 2009

News from the OCA

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Posted by Mark at 15:19 | Comments (12)

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St. Tikhon's Monastery had a total of $1.9 million in outstanding mortgages taken out by the former administration. We assume (+ Met Herman).

Can someone or somebody please explain what the $1.9 million in mortgages was for?

Where did the $1.9 million go?
What was it used for?
Can we have an explanation?

#1 Curious from WPA on 2009-03-30 18:47

Can the Orthodox Church in America have an explanation?

#1.1 Anonymous on 2009-03-30 18:59

I believe you will eventually find that + Herman used it for what ever he wanted. Some for operations, some for scholarships, some for repairs, some for trips and the rest for his new house and retirement. If you look at the pie chart, I believe people will see that RSK learned his trade well from + Herman.

#1.2 Anonymous on 2009-03-31 09:25

!.9 million on the property of St. Tikhon's. Wow. Is this what the government calls a "Toxic asset"? Or should that term be reserved for certain Orthodox of Episcopal rank?

#2 ba'ab on 2009-03-30 21:52

The $1.9 million debt is not a one-time indebtedness. It is a series of loans, taken over time, for various reasons by Herman and his now suspended favorite deacon Alexi Klimechev.

When the monastery or seminary ran out of money, they simply went to go old Honesdale Bank and borrowed more money using the monastery lands as collateral.

Some projects that come to mind are the famous Museum aka. Klimechev bookstore. Also it is not beyond the real possibility that money was used to float the seminary and monastery, and build a shrine or two.

The bottom line is that it is a big debt, but was any of the money used for purposes other than their intended use? Was any of the money used to help fund the Klimechev gem store in Philly, and now in a nearby town close to St. Tikhon's? Was any used as a loan or gift to build the Klimechev's home, buy their boat, trucks, and cars?

This is the work done by a forensic audit. This is also very expensive. Everyone wants to have answers but the answers also cost a great deal of money. So, what would you do if it was you who had to pay for the audit to find out the answers?

The former Metropolitan should be totally cooperative in the investigation. He should turn over all his personal records. He should work with those trying to clean up St. Tikhon's. The Archdeacon too should turn over all his records. If they are innocent, then they have nothing to fear.

Has anyone asked Herman and Klimechev to cooperate? If so, what was their answser?

#3 Anonymous on 2009-03-31 08:50

This is the work done by a forensic audit. This is also very expensive. Everyone wants to have answers but the answers also cost a great deal of money. So, what would you do if it was you who had to pay for the audit to find out the answers?

If evidence confirms Herman and Klimechev are guilty of misappropriating funds then they pay for the forensic audit via a plea agreement. Why shouldn't they incur the cost and put back what they took?

#3.1 Anonymous on 2009-03-31 14:55

Excellent theoretical point and suggestion. However SOMEONE will first have to pay for the forensic audit. Right? Then, if they find conclusive proof, hand it over to the authorities, everyone gets "lawyered up" and then, maybe a plea agreement. However, how about this........

All those CPA's who write on this site, there are a least a few, why not pro bono your services to the Church, do the forensic audit into St. TIkhon's and then we will have some answers? Any takers?

#3.1.1 Anonymous on 2009-03-31 20:38

Sorry but for this one I've lost my sense of humor. My sanity instead permits a tear to roll down my cheek. To each his own.

P.S. Meant the above comment to be a reply to Anonymous on 2009-04-01 07:05

Pro bono service of auditiors to the diocese idea should seriously be considered. A real expression of love to the church.

#3.1.1.1 Anonymous on 2009-04-01 10:55

St. Tikhon's to Sell Spring Water
Posted 04/01

SYOSSET, NY [OCA Communications] -- The recently reported $1.9MM mortgage
debt of St. Tikhon's Seminary & Monastery has perplexed church leaders as to
how to meet the impending mortgage payments. Church leaders have been
approached by Mr. Thomas Thompson of Appalachian Waters in Scranton, PA to
bottle and sell natural spring waters found on the monastery property. The
natural spring has been a coveted resource of the monastery since it's
discovery in 1905 and has been identified as possessing regenerative
properties. The agreement made by Mr. Thompson and the monastery will bottle
the water under the name of "Monk-Power Water" and will promote it's health
attributes. The water will be available by early June in WalMart and Target
stores and is expected to generate $1MM+ in revenues for St. Tikhon's by
June of 2010.

(editor's note: Thanks for the April Fool's chuckle. It is a great journalistic tradition, such spoof articles. Thanks for offering a good one!)

#4 Anonymous on 2009-04-01 07:05

Is this true?
Pokrov has heard reports that +Nikolai is planning to address the OCA Lesser Synod. Our sources say that he plans to present a deal where he will drop the 41 million dollar lawsuit against the OCA in exchange for a release from the OCA. One source says a release from the OCA will clear the way for him to be accepted into the Serbian Church.
Can anyone confirm this?

#5 Cappy Larson (Link) on 2009-04-02 07:52

The nice thing about him going to the Serbs (if it's true) is that they are less polite around nasty Bishops and are not easily cowed by bullies... oh, and did I mention that many of them are armed?

#5.1 O. Felix Culpa on 2009-04-02 10:27

Nicolai should be deposed, end of story!

#5.2 Anonymous on 2009-04-02 18:15

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