Tag Archives: financial mismanagement

Disgraceful Waste: Bob Malm Flushes $2 Million of Church Funds Down the Toilet on His Personal Residence

Speaking of dysfunction, in 2014 the Grace vestry decided to write off half of the value of a loan it had made 10 years earlier to Bob Malm. The loan had been provided so that Bob could purchase a private residence. But writing off half the loan, especially at a time when the church was in relatively dismal… Read More »

Bob Malm Allegedly Ignored Bank Complaints that Church Deposits Were Repeatedly Off

Almost 200K a year in compensation and he can’t be bothered to find out why? And why were several thousand dollars’ worth of undeposited cash and stale checks found in a former parish administrator’s office when she left? Why was this not detected before she left? Why after almost 30 years as rector does the church STILL not… Read More »

The Wartburg Watch on Clergy Compensation

In a previous post, I discussed the fact that Bob Malm’s almost $200,000 annual salary, plus his recent $100,000 bonus, means that he makes more than many Episcopal bishops. This article, reprinted under standard usage permissions from The Wartburg Watch, provides some additional context. Before diving into the article, it’s important to note that the Grace Episcopal church… Read More »

Why An Agreed-Upon Procedures (AUP) is Meaningless

One of the great fallacies within Grace Church is that “there is complete financial transparency” and an annual audit, which provides assurances that financial statements are accurate. These claims are absolutely untrue, and here is why. First, in an Agreed-Upon Procedures (AUP) review, attestation is the responsibility of the client, or an independent third party under certain circumstances.… Read More »