ORU Gets a ‘Divorce’ from ORM and 70 Million Dollars

The ORU Board of Regents officially voted to ‘accept’ Richard Roberts resignation and to legally and financially separate the university from Oral Roberts Ministries.

A short while later they received a financial pledge of 70 million dollars from Mart Green , whose family started the Hobby Lobby chain of stores.

However, the gift comes with a catch. ORU will receive 8 million in immediate funds, but must demonstrate “good governance” before the remaining 62 million can be given. The gift will effectively wipe out ORU’s 55 million dollar debt.

Is ORU saved? Mission accomplished? We hope so.

Questions still linger as to the results of the regent’s audit of the allegations surrounding Richard and Lindsay Roberts. ORU is a private university and is not required to publicize the findings of their committees or the details of their two day meeting. Either way, the university has proved it doesn’t need Richard anymore.

Stay tuned to SaveORU.com for more news and analysis.

Richard Roberts resignation is effective immediately.

“I love ORU with all my heart. I love the students, faculty, staff and administration and I want to see God’s best for all of them.”

– Statement from Richard Roberts

The final straw might have been a new wrongful termination lawsuit filed by Trent Huddleston, a former senior accountant for ORU. He claims that he was directed “against his will” to falsely list items as expenses rather than assets in order to defraud the Internal Revenue Service and other agencies.

Stay tuned to SaveORU.com for more news and analysis.

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It’s time for the ORU Board of Regents to wake up and smell the coffee.

The Associated Press obtained a copy of last week’s faculty poll which shows an overwhelming majority of faculty (almost 80%) do not want Richard Roberts to return as president.

In addition, “90 percent of the faculty thought the school’s current procedures for financial disclosure and accountability were inadequate and more than 74 percent of those polled did not believe that alumni would continue to support ORU if Richard Roberts remains as president.” (AP)

Read the story here.

Phil Cooke is an ORU graduate and one of the leading authorities on religion and the media.

Richard recently commented that his troubles were ‘foretold’ to him in a prophecy from another minister, Phil asks the proverbial question: If he knew, then why didn’t he do something about it?

He wisely comments that “supporters of ORU need to know the President has integrity, is a solid thinker, can embrace a wide swath of evangelical America, and has a bold vision for the future … to the non-believing world, this just makes him sound weird – not the solid leader he needs to be in people’s minds.”

Read his complete commentary here.

Richard Roberts has released a statement containing rebuttals to the allegations against him and his wife Lindsay.

We think Richard needs to stay quiet for the time being and let the board of regents complete their investigation. Some of his rebuttals are merely statements of university/ministry policy. Anyone who has worked in a corporate culture or family-controlled environment knows that “policies” aren’t always evenly applied.  At this point, no one should blindly accept statements that aren’t backed by hard evidence.

If the regents accept Richard’s explanations without a detailed investigation and allow him to return to his post as President, they will lose the confidence of ORU’s faculty, the Provost and put the accreditation process in jeopardy. The alumni stand ready and willing to help bring the university out of debt if Richard steps out of the picture (even for a few years) and let the leadership deliver clear results.

Amazingly, Richard is finally starting to own up to his mistakes, stating that ORU needs a “culture change”.

All this leaves us wondering… Why did it take 14 years and a national scandal to finally bring about change? Is this a case of too little too late?

Read about Richard’s rebuttal here.

Read his offer of financial transparency here.

In yet another striking blow to Richard Roberts’ chances of continuing as university president, Mark Lewandowski, provost and executive vice president of academic affairs, said he would quit if Roberts is allowed back to his post.

In a letter addressed to George Pearsons, chairman of the ORU board of Regents, Lewandowski stated that:

“many current administrators . . . are concerned that the ORU board of regents with the exception of a few bold individuals are waffling in their decision making and are considering the reinstatement of Richard Roberts even in the face of overwhelming information of a management style that promotes fear and has done nothing to address the increasing debt of the university.”

Lewandowski is one of the defendants named in the lawsuit filed by three former professors. This new development leaves us wondering if Lewandowski might even testify against Richard in court?

This also does not bode well for the current accreditation process. ORU is due for a serious return check-up in 2009.

Yesterday, Richard petitioned the ORU faculty for a second chance, hoping the faculty would rescind their non-binding vote of no-confidence – he didn’t get it.

Deja-Vu:  Richard Roberts wrote a book about his divorce and remarriage entitled “He’s the God of a Second Chance!” in the 1980’s. Maybe he was hoping to pen a revised version?

We think another fifteen years of Richard’s leadership would be something the university could ill afford – unless massive checks and balances are instituted.

The tenured faculty have spoken, and given a vote of no confidence for Richard.

We believe that the university has languished under a mountain of debt and poor leadership for years. Now, the faculty – who dared not speak before – are having their say.

Stay tuned to SaveORU.com for more news and analysis.

Senator Charles Grassley, the ranking Republican on the Senate Finance Committee has asked six televangelists to turn over their financial records by December 6th.

“The six ministries identified as being under investigation by the committee are led by: Paula White, Joyce Meyer, Creflo Dollar, Eddie Long, Kenneth Copeland and Benny Hinn. Three of the six – Benny Hinn, Kenneth Copeland and Creflo Dollar – also sit on the Board of Regents for the Oral Roberts University.” (CBS News)

Stay tuned to SaveORU.com for the latest news and analysis.