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ORU rids long-term debt from its books

GRATEFUL
Mark Rutland: ORU's president says "many, many people stepped up" to help erase a debt that had ballooned to $55 million in 2007.
 
By SHANNON MUCHMORE World Staff Writer
Published: 9/24/2009  2:29 AM
Last Modified: 9/24/2009  3:46 AM

Almost two years after revealing it was more than $50 million in the red, Oral Roberts University announced Wednesday it has resolved all long-term debt.

"Many, many people stepped up," ORU President Mark Rutland said in the university's chapel service. "We had dragons to slay."

The university has worked steadily to move beyond an image tarnished by scandal, lawsuits and financial instability that came to a head in November 2007, when then-President Richard Roberts was sued by three professors claiming that he misspent university funds.

Roberts resigned soon after two more lawsuits with similar allegations were filed against him. He was accused of spending university money to support a lavish lifestyle for his family.

All of the lawsuits against Roberts were either dismissed or settled out of court.

Rutland began his position in July.

In late 2007, the university announced it was $55 million in debt. In January, ORU laid off 53 employees and eliminated 40 positions.

Mart Green, a Yukon businessman whose family owns the Hobby Lobby and Mardel chain stores, donated $70 million to help rescue the university from dire financial straits. Green, now the ORU Board of Trustees chairman, made his gift conditional on the university adopting shared governance and financial transparency.

Money that did not go to retiring the debt helped with deferred maintenance, such as landscaping and dormitory renovations.

Donations have been increasing in the past year, as ORU inched closer and closer to the milestone it reached Wednesday.

Trustees established a fundraising campaign known as Renewing the Vision in February 2008. By the time it ended in April, 16,000 donors had given more than $22 million.

In a statement from the university, Green said he wanted to thank the ORU's donors.

"ORU's long-term debt was a major dragon to slay for future success," he said. "We can now move forward with confidence and continue to make this university the best it can be."

ORU, like most higher education institutions, uses lines of credit to provide short-term cash flow.

Rutland, who came to ORU earlier this year from Southeastern University in Florida, has sought to turn the university's reputation around by opening up to the community.

He said Wednesday that the university has more to do, but has come a long way toward its goals.

"Today, we can rejoice," he said.


Inauguration is Friday

The inauguration of Mark Rutland, ORU’s third president, will be Friday at the Mabee Center.

The event will begin at 1 p.m, and it is free and open to the public. It will also be broadcast on the university’s Web site, tulsaworld.com/oru.

Rutland began his duties as president July 1, after leaving the top post at Southeastern University in Florida. He is a former pastor and missionary, as well as the author of 13 books.


Shannon Muchmore 581-8378
shannon.muchmore@tulsaworld.com
By SHANNON MUCHMORE World Staff Writer

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Some reader comments for this story were copied from "Oral Roberts University announces it's debt-free," which was published on 9/23/2009.

Report Comment
Red Ryder, (9/23/2009 9:23:01 AM)
Great! Now let's sell it to the Creek Nation.
Report Comment
Have that, America (9/23/2009 9:23:23 AM)
Too bad they are still drowning in crazy.
Report Comment
Charley, (9/23/2009 9:28:08 AM)
As long as they can find donors, stopping the bleeding is a priority. Oral Roberts signaled the nation, about the credibility of this business, when he cried that God was going to take him, if he didn't raise $7,000,000.00.... Ha!Ha!Ha!
Report Comment
kunta, (9/23/2009 9:31:58 AM)
Must be nice to have a sugar daddy.
Report Comment
Navin Johnson, Tulsa (9/23/2009 9:38:01 AM)
Have that,

You made me spit water all over my keyboard!
Report Comment
Sahjah, Tulsa (9/23/2009 10:13:19 AM)
I love how so many people claim to be objective or cry for it when somebody attacks their perspective, but neglect to do the same in reverse. This should be a big celebration for Tulsa regardless of your personal opinions of the "beliefs" of the Univeristy. ORU helped paved the way for South Tulsa (and Tulsa growth in general). Selling it to the casino is ludicrous. ORU is helping educate and build our society. The casino is tearing up homes and making more middle and lower class families depend on wellfare because they lose all or part of their money to them. ORU sends out a very high number of business majors which helps create future leaders and producers for our national scene. I am sure you do the same, sitting on your butt, posting on the internet.
Report Comment
Sahjah, Tulsa (9/23/2009 10:15:40 AM)
And kunta,
Someone having the vision to see what ORU is and can be and backing that is not a sugar daddy. It's called an INVESTOR.
Report Comment
LocalBoy, B.A. (9/23/2009 10:30:18 AM)
TW:

This was a school whose potential was always severely limited by its administration. How about a story on what changes, if any, the new administration has made, other than financial? Hopefully, they have made or are planning some significant academic and cultural changes to help the place to start moving toward its potential.
Report Comment
LocalBoy, B.A. (9/23/2009 10:32:28 AM)
Or has "Have That" pretty well summed it up?
Report Comment
DrewTU, (9/23/2009 10:34:16 AM)
Great spot for a parking lot for the River Spirit Casino!
Report Comment
Ric, Broken Arrow (9/23/2009 10:36:03 AM)
I remember back in the 60's and very early 70's when I was involved in "Indian Guides". Our fathers took us all to see the original Globetrotters at ORU.
Report Comment
bryelmore, Tulsa (9/23/2009 10:36:56 AM)
To the 3000 young men and women who are students at ORU and to the dedicated staff who have hung in there...CONGRATULATIONS. Tulsa is fortunate to have you.
Report Comment
vrcTulsa, Okmulgee (9/23/2009 10:41:19 AM)
This is great news. Now, on to the business of educating the next generation.
Report Comment
Carl, Henryetta (9/23/2009 10:44:44 AM)
I'm glad that the school's fortunes have reversed. Glad that charlatan, money grubbing, evil poser Roberts and his equally sickening wife are out of there - just sorry to see they're still bilking good people out of their money while pretending to be ministers of God (in my opinion - of course).
Report Comment
Jumbo, (9/23/2009 10:53:00 AM)
They should use some of their new found money to erect a giant golf club sculpture (the size of the hands) and put it on the south side of the building that looks like a golf club. Good advertising for the university and for Southern Hills.
Report Comment
Jumbo, (9/23/2009 10:53:46 AM)
I mean the building that looks like a golf "ball" -
Report Comment
KYCane, Crestwood (9/23/2009 11:05:31 AM)
When institutions like this start disappearing from our land, then we know we are close to disintegrating as a God-fearing nation. Personally I wouldn't attend ORU - but I look at it as a hedge against evil. As long as there are God-fearing men and women willing to attend institutions like this, to learn about a Better Way, then it's OK with me. Better an ORU than an militant, fundamentalist, radically Islamic school where kids are taught to hate and kill Christians.
Report Comment
jett rink, (9/23/2009 11:09:38 AM)
"Now, on to the business of educating the next generation."

Let's hope the next generation attends a university concerned with education instead one that 'teaches' silly religious superstitions…
Report Comment
OPEN YOUR EYES TULSA, Tulsa (9/23/2009 11:12:17 AM)
The school always seems to be busy and people come from all over the country to go there and see the gold "Jetsons" style buildings.
Report Comment
KYCane, Crestwood (9/23/2009 11:16:14 AM)
Actually this is one of the beauties of living in a free country - we are free to believe any idiocy we choose (as long as we don't impinge that lunacy on others.) I've always looked at ORU as a "Jetson's" or "Spaceport USA" campus, too - but it's also another tourist attraction for my beloved T-town.
Report Comment
Have that, America (9/23/2009 11:43:48 AM)
I just think its funny how many parents from around the country send their gay sons to ORU so they can get enough exposure to Jesus that they will turn straight...but in reality its just a great place for dudes to hook up with other dudes while in one of the highest homosexual demographic universities in the country.

Want to hook up with a wild girl? go pick one up from ORU. So many sexually frustrated 19-23 year old girls at ORU due to the lack of straight guys to hook up with...
Report Comment
Carl, Henryetta (9/23/2009 11:52:48 AM)
Hedge against evil??? Maybe now that Roberts was cast out. Before that - a NEST of evil.
Report Comment
WhereIsThought, Raleigh (9/23/2009 12:21:01 PM)
We trade in STUPID! We're in the BLACK! Yeahh!!!
Report Comment
tulsaGuy, (9/23/2009 12:50:58 PM)
I guess they named it and claimed it. (They really need to clean up their association with false theology and the word-of-faith Mercedes theologians.)
Report Comment
007, (9/23/2009 12:56:15 PM)
GET OFF ORU'S BACK! Oral Roberts did more for Tulsa on accident than all his critics have ever done on purpose!
Report Comment
TU Homer, (9/23/2009 1:04:06 PM)
Have That is an idiot. Those types of claims are not based in any fact or information. Sorta like the old rumor about Rod Stewart or Elton John passing out during a concert because he had too much ....... in his stomach.

ORU getting out of debt is a huge milestone. A strong ORU is good for the city, even though I personally am a TU man. I still love to see basketball games at the Mabee Center.

Congrats for getting out of debt!
Report Comment
okierose, Glenpool (9/23/2009 1:25:58 PM)
Have that,

Where did you get that information?
Report Comment
SS_Hippy, Tulsa (9/23/2009 1:32:41 PM)
Calm down 007
Report Comment
Daniel Day Simpson, Edmond (9/23/2009 1:42:26 PM)
This is good, they were selling off treasures like the Fisk organ where it now sits in someone's home. Imagine being a liberal arts college and you are selling off instruments to pay bills. Then the cement on many of the buildings is crumbling and the gold/copper shell is getting tarnished.
"Something good is going to happen today, the Roberts are gone and their stench has gone away".
Report Comment
Voice in the wilderness, Tulsa (9/23/2009 1:43:04 PM)
Congratulations to the ORU board of Trustees and staff for getting out of Debt. You have cleaned up a big mess left by previous leadership.
Any chance that the "Green Family" can give the Federal Government lessons?
Report Comment
007, (9/23/2009 1:50:10 PM)
"Any chance that the "Green Family" can give the Federal Government lessons? "


Yeah maybe they can teach us to live off sub standard wages with no benefits selling chinese made products!!!!!!!!!!
Report Comment
Have that, America (9/23/2009 2:08:55 PM)
TU Homer & Okie Rose:

I base what I said on my direct factual experience with female students from ORU. And the conversations I've had with at least 30 different ORU students, both male and female, and the story is basically the same. Sorry if you think its such a bad thing that most of the guys there are gay and the girls are horny but it is what it is.

Go meet someone from ORU...like a student there from the past 10 years...you will see what I'm talking about.
Report Comment
MH71711, Birmingham (9/23/2009 2:14:10 PM)
What an embarrassment to the city of Tulsa.
Report Comment
007, (9/23/2009 2:26:52 PM)
Have that, America,

You are as full of $#!% as a christmas goose!!!!!!!!! 95% of the students at ORU are solid, and they have a few bad apples as well, but your wholesale bitter and twisted view of ORU is wrong, In spades!!!!!!
Report Comment
Have that, America (9/23/2009 2:36:49 PM)
007...

when did I say that any student at ORU is a bad apple? or that any of them aren't "solid"?

I think you are obviously taking your own slanted views and close minded biggotry and letting it shine here.

I guess maybe you're the parent of one of those boys you sent to the overly religious school because he was gay and you thought it would "fix" him? or is your daughter one of the girls there that have been locked up and protected from living a normal life that when they finally get a taste of freedom they go wild?

I don't think these are bad kids at all...I think its just a part of life actually.

you really do need to go meet and talk with some of the students there before you make your next post on this subject. I have several years of very personal experience dealing with this subject, and I can tell from that one post that you have absolutely no idea what your talking about.
Report Comment
007, (9/23/2009 2:41:35 PM)
Have that, America,
"Sorry if you think its such a bad thing that most of the guys there are gay and the girls are horny but it is what it is."



Just how the he!! is anyone supposed to read that
other than the way you wrote it? And trust me I know EXACTLY what I am talking about when it come to ORU, you can take that to the bank!!!!!!!!
Report Comment
getreal, (9/23/2009 2:50:01 PM)
The merchandise the Green's sell is not from China. It is not that good!
Report Comment
007, (9/23/2009 2:50:10 PM)
Have that, American,

I'm wondering if either you tired get little piece ORU booty, and either you got your @$$ kicked or you were scorned terribly............I am guessing the latter.
Report Comment
007, (9/23/2009 2:51:14 PM)
getreal,
"The merchandise the Green's sell is not from China. It is not that good!"


That was funny!!!
Report Comment
Skeptic, Tulsa (9/23/2009 2:55:14 PM)
Too bad they are still drowning in crazy. - Have that, America (9/23/2009 9:23:23 AM)

ROFLMAO! That is the best comment!
Report Comment
Coup de Grâce, (9/23/2009 2:57:39 PM)
Cool
Report Comment
okierose, Glenpool (9/23/2009 3:27:17 PM)
Have that, America (9/23/2009 2:36:49 PM)
you really do need to go meet and talk with some of the students

I have worked with many, many ORU students over the years and NEVER has any of them acted like you are saying. I agree with 007.
Report Comment
Have that, America (9/23/2009 3:35:55 PM)
Skeptic - thanks!

007 - not sure how to put this in any easier terms for you to understand. Being gay does not mean you are a bad person. Being horny, does not make you a bad person.

By me saying that there is a large percentage of gay male students and horny female students at ORU is not the same as me saying there are a lot of bad students at ORU.

I think there are some GREAT students and alumni from ORU...most of them that I have ever met are wonderful people.

how did you take what I said and turn that to mean that I've been beat up or turned down?

You need to get beyond your own biggotry and opressive belief system and understand that theres nothing wrong with being gay and theres nothing wrong with a young woman who has sexual desires.
Report Comment
Few Clothes, America (9/23/2009 3:39:47 PM)
Getting rid of the thieving Roberts clan had to help.
Report Comment
Have that, America (9/23/2009 3:40:21 PM)
okierose...

acted like what? maybe they don't flaunt their sexual instincts around like you would expect, and maybe they aren't comfortable talking about such things in a work environment...ever thought about that?

I have become very good friends with several people from ORU over the past several years and I'm just telling you the reality of the situation. like ive said, there isn't anything wrong with it, unless of course you drink the kool-aid they are passing out that says "gays are all evil and going to hell" and "women should all remain virgins till they are married"

sorry...not my cup of kool-aid
Report Comment
KarenD, (9/23/2009 4:54:09 PM)
PEOPLE ARE HOMELESS AND GOING HUNGRY, BUT ORU IS DEBT FREE. YES! I AM YELLING!!!!!!
Report Comment
Rocket Scientist, (9/23/2009 5:12:09 PM)
"All of the lawsuits against Roberts were either dismissed or settled out of court."
Was there any criminal investigation concerning the Roberts?
Report Comment
Carl, Henryetta (9/23/2009 5:48:52 PM)
Oh - so settling out of court implies INNOCENCE? Don't think so - INNOCENT people would likely do everything possible to not PAY or HAVE THEIR DAY IN COURT.

Roberts and the majority of those televangelists are nothing more than parasites. They will certainly face their judgement one day - and end up where they belong - in Hell. ESPECIALLY that Benny Hinn poser.
Report Comment
TeaTimer, Tulsa Area (9/23/2009 7:23:59 PM)
For those of you who have no heart for religion do not let this University bother you. Many of the posters on here such as -Have Not- are not funny you are just a jerk who needs to grow up. Statements like that just show your ignorance.

I am not a Roberts lover and would never have sent them a dime, but ORU is a wonderful university. The students and most of the instructors are great folks.

Mart Green and the Green family are wonderful people and are great representatives of true Christians. If you are not of the Christian faith then you have no reason to be so negative of those who do believe in Christ.

WRITE FUNNY JOKES ON SUBJECTS THAT RELATE TO WHAT YOU KNOW AND BELIEVE.
Report Comment
charlestace, Tulsa (9/23/2009 9:04:06 PM)
ORU is financially solvent now, but will always be bankrupt spiritually.
Report Comment
Have that, America (9/24/2009 12:02:51 AM)
TeaTimer...

I am a Christian thank you very much, yet I question you...

how can you say that me saying people are gay or sexually active are not "true christians" or not "great folks"?

I'm not making a joke here...I'm just putting the truth out there for what it is. I understand that here in Oklahoma that its difficult to accept the fact that there is nothing wrong with homosexuality or premarital sex, and to be told thats whats going on. But understand that I'm not trying to make anything out for what its not.

I think the practices of ORU of having their students in by 11pm every night, only allowing them to stay off campus if they live with their parents and only stay off campus like 1 night a week if not, the fact you get expelled or punished if found in a liquor store or bar...these are the aspects of the school that I think are crazy.

Sorry if you disagree, but to stand there on a soap box and cast judgement like you do is simply not the true Christian way of life.

Perhaps you should do some soul searching and come to grips with your own demons before making such statements.

I consider everyone I know from ORU to be a friend of mine. I accept their life styles for what they are and don't have a problem with that. I would think that after several years of talking with multiple friends about the various aspects and goings on at that university I would have a better understanding of it than you, the casual observer.
Report Comment
ArScott, (9/24/2009 1:29:29 AM)
I had heard there was a problem with the praying hands statue. Apparently one hand kept falling palm up for donations.
Report Comment
Fromtheright, Tulsa (9/24/2009 4:05:06 AM)
Where did the money that was donated for medical research go?
Report Comment
Tony G, Tulsa (9/24/2009 6:40:36 AM)
In my humble opinion. ORU is an embarrassment to Tulsa.
Hopefully, with Oral and Richard gone, it won't be quite as bad as before.
Report Comment
Few Clothes, America (9/24/2009 8:21:12 AM)
Getting rid of the thieving Roberts clan was a smart move.
Report Comment
Two Cents, (9/24/2009 9:41:48 AM)
The "Culture of Fear" under Dr. Rutland's administration is still very much alive..equal to or worse than under Richard and Lindsay.
Report Comment
T.B'Ville, Bruins (9/24/2009 11:14:45 AM)
Rutland loooks like Richard, a roach!
Report Comment
Mar, Tulsa (9/24/2009 11:33:20 AM)
See all the good that is happening at ORU since Richard & Lindsey Roberts left?
Report Comment
Two Cents, (9/24/2009 11:38:15 AM)
"Inaguration Day" is Friday. This has always been Employee Appreciation Day every year until this year when it got thrown under the bus. Forget the employees. They certainly don't need any recognition. Praise and honor Dr.Rutland ..once again. Egos are as big as ever at the top.
Report Comment
JPO, jenks (9/24/2009 11:57:34 AM)
Despite ORU's faults (which exist in EVERY educational institute), ORU produces a great product. In the workplace, ORU's students are well-known as ethical, hard-working, competent employees and employers. I know it is easy to typecast ORU as an evil, hypocritical, greedy place (which it has been in many instances), but I would encourage everyone to look at the quality students that attend and the quality product that it produces.
Report Comment
YoYo A GoGo , Not Tulsa (9/25/2009 8:24:34 AM)
Dragons to slay is right. We'll never know the difficulties that were within the organization before a solid business plan could even be set in place. Thanks to the Greens, the culmination of the dream is fulfilled. Some stories still do have happy endings.
 

 
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