Elevation Church in Charlotte, NC, is a 17,000-member multisite campus with 20 locations led by pastor Steven Furtick. Along with being a popular speaker, author, and Grammy-winning musician, Furtick is known for having the term “narcegesis” (narcissistic exegesis) named after him, wearing expensive luxury clothing, and having a generally poor grasp of theology. (see endnotes)
We recently wrote about him after he was accused of using geofencing technology to intentionally target smaller churches with location-based ads. This ensured that as soon as congregants stepped foot onto their own church property, they were pushed advertisements intended to draw them away.
We previously reviewed their 2024 annual report, with some of the highlights including having 2.3B music streams and bringing in more than $100M in tithes each year. Unlike most megachurches, however, Elevation also releases a consolidated finanical statement which digs down deeper into the finances, and it has a few intretesting revelations.
Elevation Church brought in $91.35M in tithes and offerings. They also received another $10M in year-end offerings, which is where Furtick pulls on the heartstrings in November and December to firm up the books, resulting in a total of $101.36M, or down nearly $7M from the year before.
The church has $45.7M in cash and cash equivalents and $366M in total assets, or more than a third of a billion dollars.
Of specal note, however, is their investment portfolio, where Elevation church explains:
The Church invests cash that is not immediately needed for operations in a variety of investment options, with the intent to hold these investments for long-term purposes.
Investments are reported at their fair market value, which is determined based on quoted market prices. Interest and dividends earned on these investments, along with realized and unrealized gains and losses, are reflected in Other Revenue on the consolidated statement of activities.
Presently, the have investments of nearly $200M
Elevation says that they believe “Level 3 investments assist the Church in diversifying its portfolio and reducing risks while allowing for capital appreciation.” These types of investments are where “Fair value is based on unobservable inputs supported by little or no market activity and that are significant to the fair value of the assets or liabilities.”
The Church invests in alternative investments that pursue multiple strategies to diversify risks and reduce volatility. The investments focus on achieving long-term capital appreciation with moderate to lower levels of volatility. The Church recognizes shifts between the levels in the fair value hierarchy at the end of the reporting period.
For more on Furtick, here are some of his best/ worst hits:
Never Forget: The Steven Furtick Coloring Book+ All the Pages We Have Uncovered
Uncovered! 2013 ‘Boot Camp Book’ from Steven Furtick’s Elevation Church. Feat. ‘THE CODE’
Steven Furtick Engages in Rank Heresy: ‘What God is; You Are’
Would you Pay $2480.30 For Tickets to a Steven Furtick/ Elevation Worship Concert?
Steven Furtick’s Son’s New Rap Song Ft. Guns, Sex and Designer Clothes+ Mother Endorses
Steven Furtick Says God Doesn’t Make You into a New Creation
$1090 Sweater? $1990 Handbag? $2720 Coat? Round-Up of Preachers N Sneakers
Steven Furtick Goes on a Wild, Wild, Willllldd Rant about Betas and Blessings
‘Twerking for the Lord?’ Steven Furtick Laughs as TD Jakes Disgraces his Wife
Steven Furtick Screams ‘I Am God Almighty!’ In Wild Sermon
Steven Furtick Promotes Trinity Denier’s Book + Says His Kids Think his Words are Scripture
TNB drops Millionaire Heretic Kenneth Copeland after 40 years, Picks up Millionaire Heretic Steven Furtick
h/t Ryan Burge.
