not-for-profit

The Salvation Army Owns $4 Billion In Real Estate?

Okay, so it’s sort of nice that the Salvation Army, a non-profit that practices discrimination against queers, gives its employees lavish multimillion dollar homes to live in because it pays them absolute crap wages. But reading about how folks like Henry Graciani, who runs one of Sal’s alcoholic treatment clinics, and his wife, also a Sal’s staffer, take home just $25,000 a year in salary but live in a “$1.3-million Santa Monica home” makes us wonder: The Salvation Army owns $1.3 million homes?

Its real estate portfolio, valued at $4 billion in 2008, represents one-third of its assets. As the Los Angeles Times notes, providing expansive homes to its officers while keeping their wages low lets Sal’s send the message it isn’t overly compensating the brass at a non-profit. It also let’s Sal’s remind its employees they are merely humble servants doing God’s work, and don’t you love how the marble counter tops look next to the stainless steel sub-zero fridge?

We can’t fault any operation, non-profit or otherwise, for savvy fiscal practices, and holding on to a real estate portfolio that it actually uses surely qualifies as a responsible use of funds, right?