Why I Think Steven Furtick Makes Over $545,170.80 Per Year!!!

In my prior post, I established that Steven Furtick’s $3 million dollar mansion has an estimated monthly mortgage payment of $9,086.18. Based on some simple math, I want to share with you why I think pastor Steven Furtick of Elevation Church makes over $545,170.80 per year.

To figure this out, you simply need to think like a bank, and do some simple math to figure out what he makes. And if you spend a little time playing around with some mortgage and paycheck calculators, and make some basic financial assumptions, you can confirm what I say to be true.

In you own a home, you probably understand that the bank qualified you for a mortgage because the bank looks at your monthly debts in relation to your gross monthly income, and determines how much of a mortgage payment you can afford on a monthly basis. While the qualifications differ from bank to bank, generally speaking, banks tend not to qualify people for mortgages who have a “debt-to-income” ratio of greater than 36-40% of their monthly income. And that includes people like Steven Furtick, who would qualify for a “jumbo mortgage.”

To be an ideal candidate for most competitive and conventional home mortgages, you need to have a debt-to-income ratio where your total monthly mortgage payment does not exceed about 24-28% of your gross monthly income. So, if you make $10,000 a month, most banks will look to qualify you look to get you into a home for about $2,400-$2,800 a month for your total mortgage payment (including taxes and insurance). At the max, somebody making $10,000 a month would qualify for a mortgage in the $3,600-$4,000 range.

Simple enough, right?

If you are somewhat financially prudent, or are surrounded by good financial advisers, like Steven Furtick likely is, you would know that conventional wisdom suggests that you keep your monthly mortgage payment below 20% of your gross monthly income. This is so that you can “live on the margin” and don’t have to worry about taking on excessive levels of debt.

Additionally, keeping your mortgage payment below 20% of your income allows you to do things like save, contribute money towards retirement accounts, give to charity, and buy other nice things. After all, you don’t want to be “house poor,” and using the vast majority of your income to buy a big house, but unable to enjoy anything else in life.

To convince you that I’m very right about why I think Steven Furtick makes over $545,170.80 per year, I want to look at Steven Furtick’s monthly mortgage payment, and what see why I think his monthly “debt-to-income ratio” demands he makes at least this amount of money. The following analysis is a breakdown of what his finances possibly look like, assuming his mortgage payment is anywhere between 20-40% of his gross monthly pay.

Monthly Budget Analysis:

The following analysis assumes some simple things. First, as previously established, Steven Furtick’s estimated monthly mortgage payment is $9,086.18. Secondly, according to a message or two that Furtick has preached, he tithes over 20% of his gross income back to Elevation Church. Third, I am assuming that the “bare minimum” household living expenses for Steven Furtick’s family of 5 is at least $3,000 per month. Such includes the cost of food, utilities, auto expenses, gas, clothes, etc. This is probably on the cheap side, but is in keeping with a typical middle-class family budget. Such does not include money set aside for regular savings, retirement, and other such expenses.

At 40% Debt-to-Income Ratio:

Formula: $9,086.18 / 0.40 = $22,715.45 per month.

$22,715.45 x 12 = $272,585.40 annually.

At bare minimum, in order to afford a monthly mortgage payment of $9,086.18 per month, Steven Furtick would need a maximum debt-to-income ratio of 40%. This would produce $22,715.45 per month, or $272,585.40 annually.

However, if you do the math operating under the basic assumptions above, you will discover that if Steven Furtick only makes $272,585.40 annually, he would actually run a large monthly deficit in his household budget.

If you take $22,715.45 and run it through a paycheck tool, like at PayCheck City, you would discover that after federal and state taxes, Steven Furtick would only net $14,440.95.

Gross Income: $22,715.45

Net income: $14,440.95

Expenses:

-$4,543.03 (20% tithe off gross)

-$9,086.18 (Mortgage payment)

-$3,000.00 (Living Expenses)

Total: -$2,188.26

Obviously… Steven Furtick needs more money.

At 36% Debt-to-Income Ratio:

Formula: $9,086.18 / 0.36 = $25,239.39

$25,239.39 x 12 = $302,872.67 annually.

Assuming the aforementioned, you will discover that if Steven Furtick only makes $302,872.67 annually, he would actually run a large monthly deficit in his household budget.

If you take $25,239.39 and run it through a paycheck tool, like at PayCheck City, you would discover that after federal and state taxes, Steven Furtick would only net $15,791.91.

Gross Income: $25,239.39

Net Income: $15,791.91

Expenses:

-$5,043.03 (20% tithe off gross)

-$9,086.18 (Mortgage payment)

-$3,000.00 (Living Expenses)

Total: -$1,342.15

Obviously… Steven Furtick needs more money.

At 28% Debt-to-Income Ratio:

Formula: $9,086.18 / 0.28 = $32,450.64

$32,450.64 x 12 = $389,407.71 annually.

Assuming the aforementioned, you will discover that at this income level, of $389,407.71 annually, Steven Furtick finally is able to have some money left over. But, not by much.

If you take $32,450.64 and run it through a paycheck tool, like at PayCheck City, you would discover that after federal and state taxes, Steven Furtick would only net $19,653.79.

Gross Income: $32,450.64

Net Income: $19,653.79

Expenses:

-$6,490.13 (20% tithe off gross)

-$9,086.18 (Mortgage payment)

-$3,000.00 (Living Expenses)

Total: $1,077.48

At this point, Steven Furtick is pretty much breaking even. As I mentioned previously, to be financially responsible, Steven Furtick would still need to set aside money for regular savings and retirement. Not to mention, Steven Furtick likes to obviously buy nice things. At the end of the day, having only $1,077.48 left over after monthly expenses would be very dangerous, and it would mean he is living on the verge of financial disaster.

At 24% Debt-to-Income Ratio:

Formula: $9,086.18 / 0.24 = $37,859.08

$37,859.08 x 12 = $454,309 annually.

Assuming the aforementioned, you will discover that at this income level, of $454,309 annually, Steven Furtick is finally able to have a little breathing room financially. But he’s not quite out of the woods yet.

If you take $37,859.08 and run it through a paycheck tool, like at PayCheck City, you would discover that after federal and state taxes, Steven Furtick would only net $22,481.77

Gross Income: $37,859.08

Net Income: $22,481.77

Expenses:

-$7,571.82 (20% tithe off gross)

-$9,086.18 (Mortgage payment)

-$3,000.00 (Living Expenses)

Total: $2,823.77

Things are looking better for Steven Furtick at this level of monthly income. Having over 2 grand leftover at the end of the month isn’t too bad. But again, if he is setting aside any money for regular savings and retirement, having only 2 grand leftover at the end of the month to save and invest is skating on pretty thin ice. If he’s only setting aside 4% of his income towards reitrement (the max elevation matches), then that would leave him with a little over a thousand bucks leftover at the end of the month. Such leaves very little “margin” in Furtick’s financial life.

At 20% Debt-to-Income Ratio:

Formula: $9,086.18 / 0.20 = $45,430.90

$45,430.90 x 12 = $545,170.80 annually.

Assuming the aforementioned, you will discover only at this level of income is Steven Furtick finally able to get into a solid place financially. It only takes $545,170.80 annually to do so!

If you take $45,430.90 and run it through a paycheck tool, like at PayCheck City, you would discover that after federal and state taxes, Steven Furtick would net $26,081.90

Gross Income: $45,430.90

Net Income: $26,081.90

Expenses:

-$9,086.18 (20% tithe off gross)

-$9,086.18 (Mortgage payment)

-$3,000.00 (Living Expenses)

Total: $4,909.54

Having close to 5 grand a month left over after expenses puts Steven Furtick in a pretty good place financially. At this level, he can probably afford to contribute towards his retirement, save for a rainy day, and enjoy some of the nicer things in life (which we know he does!). While it is possible he could make do with a little less, it is highly unlikely. And truthfully, I think he probably makes more.

Conclusions:

Because of the lack of transparency at Elevation Church, it is not possible to know exactly how much Steven Furtick makes per year. While I firmly believe that Steven Furtick makes over $545,170.80 a year, as demonstrated by pretty simple mathematical reasoning, I do not pretend to know all the sources of income he has. We know that Steven Furtick takes a salary, and receives royalties from book sales. He also likely receives tens of thousands of dollars annually for serving as a guest and conference speaker at other churches. It is possible he also receives royalties from the sale of Elevation Worship CD’s. It’s also likely that he invests some in the stock market, and probable dabbles in real estate (such is simply something people with a lot of money commonly do).

However much he gets from all of the above sources of income, it is very likely that the bulk of his regular annual income comes from the salary he receives from Elevation Church. As most of you know, when you apply for a mortgage you generally have to provide the bank with a year or two of tax returns, as well as document all your current sources of income. And in today’s tough lending environment, especially in regard to a bank that is going to lend somebody over 1 million dollars to build a home, underwriting standards tend to be very strict. Income received from unusual sources of income, like book royalties, are going to receive a lot of scrutiny. A lender is going to want to see a very solid source of regular income before they approve you for a mortgage.

If I had to make a bet, I would place my money on the likelihood that Steven Furtick makes the bulk of his money from a steady salary that he receives from Elevation Church. And taking a $500k salary from a church is not unheard of. As has been well documented by many other websites, until recently, the former pastor of Mars Hill Church, Mark Driscoll, was making well over half-a-million dollars in salary from the church. Mars Hill Church was a large multi-site church just like Elevation, having 11 campuses with well over 10,000 people attending weekly.

11 thoughts on “Why I Think Steven Furtick Makes Over $545,170.80 Per Year!!!

  1. Why? Just take a part time job, stop holding out for a management position. Sir, you need at least a hobby. I’ll only say this, and I only skimmed your nonsense so I may have missed it, there is a little thing called a “down payment” it’s very likely he didn’t finance 100% of the house not to mention you don’t really know what he paid for it by looking at the tax records alone. Again, get a job yourself, Lowes, Home Depot, for the love of God, get past this

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    • Well John, the last post I made shows what we know his monthly mortgage payment to actually be. His mortgage docs, which I’ve made available and are part of the public record, combined with his insurance and taxes, show him to be making over $9,000 a month in monthly payments. Thus, doing a bunch of very simple math, we can make a pretty good guess at what he is making on a monthly basis. But if you want to be ignorant, you can choose to do so.

      Liked by 1 person

  2. You didn’t take into account that pastors can be compensated by their church for a monthly housing expense allowance. Chances are, and considering the trust is the name on the mortgage note, Elevation is forking out the dough for a hefty portion of the note.

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    • Yes that is very true Steve. It can be listed as housing and bypass the normal bank requirements of salary ratio since the money is legally allowed to be provided by the church as housing. Meaning it’s also legal with the IRS that the “lion portion” of his salary can to go to housing.
      This mean the author of this article is obviously unaware of this option that a pastor has. Until that is removed by congress it is a legal option any pastor has. He can make $110,000 a year and have $80,000 of that salary listed as housing guaranteed by the church and pass the bank and IRS requirements. Any good tax accountant can confirm that. By the way this was taken all the way to the supreme court 10 years ago and the ruling has held.

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  3. He writes books, gets paid to speak and you need to get a life. He is the Head of the company, a life changing company and is not in court, not in jail, and not being investigated for fraud. So come to church with me Sunday at the LN campus and get a glimpse of this church that was built on hard work and faith! Pastor Steven has changed all 5 members of my family including 3 kids and is one of the most gifted deliverers of Gods message in todays world. Come to church and open your heart or shut up and get back to your couch and laptop. Elevation is about helping, changing lives, saving lives, and our pastor puts all he has in it. Its called success as well. You should take some notes from last weeks sermon and rise above but you have to stop BEING the turbulence to do so. Take care

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  4. Who says the house is financed at all? How do you know it wasn’t as stack of benjamins in a briefcase? There is no way to know unless you can prove it has a mortgage.

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  5. It all belongs to God and who are we to decide how much or what blessings one receives.Get rid of your jealous heart are you a member of his church? Why you worried how much he makes.

    Liked by 1 person

  6. This is the most pathetic mess I have ever seen. Who in the world has the time to care about this man of Gods business? I suggest you seriously get somewhere and pray. Do you need help with YOUR FINANCES? This is SAD. JUST SAD AND DEMONIC.

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  7. Praise the Lord! I tell there is more to the Bible then religion, seminary or opinion can ever hold. It can only fathom what it can potentially analyze then talk itself out of all the blessings of God and call it humility. True humility is walking in the place of grace receiving there free gift of salvation through Jesus Christ, regardless of what others do. What really amazes me is how so many care about pastors, preachers, missionaries etc, while being ok with Hollywood actors, directors, politicians, various sports professionals and owners, chain retailers, or even restaurant chain owners, etc. Sure we can continue to fill in the blank and everyone is ok with these billion and trillion dollar industries. Let a man serving God or his country via armed services, public safety such as fireman, paramedics and police officers. Let’s not forget the school teachers who have to deal with all the non sense from undisciplined children and disrespectful parents who act like an immature child. All these people make barely enough, and you have many jobs where people barely make enough while the people who created the company reap the benefit. And I get it there is a cost to entrepreneurship. I do believe people need to take a step back and really think about it before they go off on something they don’t have a grace to enter in to. All that is being displayed by most people today is an opinionated critical view who only cares to be heard. Don’t let your life stop because I’m sure the people being complained about are not going to take their eyes off of Jesus if they are walking with him. And if they are serving money what’s it matter. That’s between them and God. They will be accountable when God chooses. Otherwise I pray for God’s grace and mercy as we all need it. There is a lot of false gospel doctrines being preached in every field imaginable. We must learn to not allow it to change or influence us and learn to discern and continue forward unmoved by it. There is only one teacher and that is Jesus Christ. Many have lost the joy promised because of things becoming issues in people heart. May God forgive you and restore you in Jesus name. Bless you. So much greater to bless than curse.

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  8. Writer did a fantastic job arriving at a reasonably accurate figure regarding furticks yearly salary from elevation church. Christianity is a nasty cult, the bible is a dangerous book, those who prophet from it are below contempt, far from virtuous and ought to show some shame for committing moral violence every sunday in the pulpit.

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