Former Moody Radio host Julie Roys is asserting that despite assurances of no corruption in leadership from Moody Bible Institute, the school continues to obscure the truth.
Roys, who has written extensively on her blog about the ongoing controversy at the Chicago-based college throughout the month of January, wrote on Monday that the school administration’s statements about recent events belie what is really occurring.
Last Tuesday, MBI said on its website that “there is no corruption, or any illegal and unethical activity taking place at Moody,” and that is was “false” to describe their actions as such. The statement addressed the controversy surrounding the school’s decision to give a $500,000 loan in 2009 to now former MBI president Paul Nyquist — who resigned earlier this month — so he could purchase a condo, the questionable use of a luxury suite by Moody trustee and Left Behind fiction series co-author Jerry B. Jenkins, and the doctrinal direction of the institution, among other things.
Yet Roys believes the statement “only further muddied the waters” and has created the illusion that everything thing is fine when in fact significant questions remain.
“The $500,000 loan to former President Paul Nyquist is legally questionable, and certainly ethically wrong. The institute has given no evidence to refute first-hand accounts that Trustee Jerry Jenkins used a Moody-owned apartment as his own,” Roys explained.
She continued: “[I]t was my desire from the beginning for MBI to deal with these and other issues internally and then to communicate openly and transparently about them with supporters, alumni, students, and employees. Instead, the MBI board decided to deny many of its problems, though it simultaneously removed the institute’s three top officers, leaving many confused.”
While MBI insists that Nyquist has been making payments on the loan faithfully, the circumstances of the loan do not comport with the criteria set forth in both federal and Illinois law, Roys went on to say.
The exceptions for these kinds of home loans are to assist someone of modest means, like a poor minister who takes a job with a church or nonprofit group in areas where housing costs are prohibitively expensive. Nyquist’s salary package, which was over $300,000 annually, does not meet the standard, especially when the condo he bought was worth twice the median value of homes in the neighborhood, she argued. Such abuse of the statutory exceptions would not pass muster if the IRS ever audited the school and it could place Moody at risk of steep financial penalties and the possible loss of its nonprofit status, she said.
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Source: Christian Post