An angel for ORU

BY ZIVA BRANSTETTER World Projects Editor
Wednesday, November 28, 2007
11/28/07 at 1:44 PM

For more: Read the latest ORU stories, view the lawsuit and other documents and watch slide shows and video.

Family to donate $70 million if reforms made

Oral Roberts University -- whose namesake founder told believers to "Expect a Miracle" -- received an offer of a $70 million bailout Tuesday if the school will reform its practices.

The money would be enough to wipe out a massive debt troubling the school, but the offer by a Yukon businessman came only after Oral Roberts' son, Richard Roberts, had to leave the ORU presidency.

Mart Green, whose family founded the Hobby Lobby chain of craft stores, promised the gift provided the university shows "good governance" of its finances.

Green said at an ORU press conference that his family already gave the university $8 million to address immediate financial needs.

After a 90-day review process the remaining $62 million will be donated, provided that the review's findings are "mutually satisfactory to both parties," he said.

Green has no previous connection to ORU, but he called the school "God's college."

Green said he met Richard Roberts and Oral Roberts for the first time this week and that both were "very supportive" of the changes he believes are needed at ORU.

The changes, which were also noted by a recent accreditation review, involve improvements in leadership, finances and governance, Green said.

"ORU must restore its broken trust, its battered reputation and its beaten spirit,'' he said.

Richard Roberts resigned Friday as ORU's president following allegations in a lawsuit that he and his family misspent university and ministry money.

The resignation apparently was the key to Green's donation decision, which he said he made recently after following news coverage of ORU's troubles.

"When we saw Richard Roberts resign on Friday, that was the door that we said, 'All right, that was the leadership issue that has been taken care of,' " he said.

As part of the review, "we will be looking at the financial things, the legal things, the lawsuits and all that. We will do a complete business review," he said.

"The assets of this organization are its students, its faculty and its alumni, and we said we do not want to see this organization going down, and we are going to answer the call."

Green said he would expect "greater transparency" at ORU.

Significant changes in the school's board of regents may also be warranted, he said.

"As a board, they were at the helm when some of this happened," Green said.

If ORU accepts the money, Green and his family would hold two seats on its board of regents, he said.

The funds would be used to address immediate needs and help the university pay off its $52 million debt, he said.

Other items, such as a new student center, could also be considered, he said.

"But with that money there have to be changes, and that is what we have to work through together, to find out if we can come to agreement on that," he said.

Ziva Branstetter 581-8378
ziva.branstetter@tulsaworld.com

Who is Mart Green?

Home: Yukon

Family: Married to Diana Green for 25 years.They have four children.

Hobby Lobby: His father, David Green, started the Hobby Lobby chain of craft stores in the family living room in 1972 with $600.The chain now has more than 350 stores.

Mardel: Mart Green established the Christian and educational supply store in 1981, when he was 19.The chain now has 26 stores.

Bearing Fruit Communications: Green founded the nonprofit media company charged with ‘‘making known the relevance of God’s word for today’s world.’’

Every Tribe Entertainment: Green founded the full-feature film production company in 2002.The company’s movie, ‘‘End of the Spear,’’ was released in 2006 and won the grand prize at the Heartland Film Festival.

Associated Images:

ORU Acting President Billy Joe Daugherty (left) listens Tuesday as Mart Green discusses his promised $70 million gift to the financially troubled school. In the foreground are members of the school’s board of regents.

Mart Green