Co$ develops new money source

Gosh, I think I should start a religion! A friend just passed me an envelope:

Scientology has embarked upon a mission to offer their followers the chance to pledge $1,250,000.-- over the next 12 years.

HERE IS THEIR DEAL (as offered by Author Services, Inc., 7051 Hollywood Blvd., #400, Hollywood, CA 90028 - a for-profit corporation):

Church of Spiritual Technology (CST) is publishing the so-called "Research and Discovery Series". The series contains the transcripts of all of Hubbard's taped lectures. While you can buy the standard edition at a rather cheap rate at any of their outlets (published by Scientology's Bridge Publications), CST prepares a special edition, leatherbound and on high quality paper. Each of these special edition volumes costs $1,250.--. They promise to deliver one volume approximately every six weeks.

IRS notes:

Being on a holy mission and CST currently being considered a non-profit organization, a footnote says: "The portion of your donation that should qualify as tax deductible charitable contribution for federal income purposes is $950, which is the full amount of your donation less $300 (the "fair market value" of the volume itself) in accordance with IRS regulations."

EVERYBODY WINS:

Among the payment methods offered we find all the major credit cards: VISA, Mastercard, American Express, Discover, Diner's Club/Carte Blanche. So these respectable companies are going to cash in quite nicely as well. Good for them. (Well, you are also offered an option for automatic checking account withdrawal.)

ONE ORGANIZATION IS THE B_I_G WINNER:

When you sign the suscription you "agree to donate $1,250 per volume for the full series of 100 volumes and will keep this in force throughout the duration of the series."

Now what happens if you suddenly find yourself in the position to no longer being able to afford such luxury (and becoming the owner of a $1,250,000 library should qualify as luxury)? Ah well, CST is humble, they would not force you into bankruptcy. Rather, upon subsribing to this thing you give the Church of Spiritual Technology "the option to purchase back the volumes I have received at a rate of $200 per volume." - In other words, they won't even allow you to sell the books you already purchased at a price you negotiate individually with a fellow scientologist! Cornering the market in advance! But that is probably fair as they won't force you to sell your home to keep up the payments.

THE MILLION DOLLAR CALCULATION:

To underscore the rare opportunity, only 25 sets of this luxury edition will be made (or so the promotional material says). So Scientology will make another $31,250,000.--. Will that be enough money to finally pay Wollersheim the 4 million that poor organization somehow seems to be unable to cough up?

WHAT MAKES ALL THIS POSSIBLE:

Author Services explains: "This work is made possible only through LRH's royalties bequeathed to the Church of Spiritual Technology - and your donations."

IMPLICATIONS FOR BUSINESS OWNERS:

Whoever sells a product at a premium price, well knowing that its "fair market value" is considerably less should change his company into a 501 non-profit-corporation. Then parts of the "donations" would qualify as tax deductable charitable contributions. E.g.: A hamburger (without french fries) is priced at $5.25. We change BurgerKing into the "Church of Holy BurgerKing". The "fair market value" of our burgers would be $1. So you can deduct $4.25 for each hamburger you eat. Great, isn't it? - This management consulting advice is valued at $50. Instead of paying me please donate to the Dennis Ehrlich fund!

Andrew

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