Pass the Collection Plate — on Wall Street

The United Methodist Church of the Resurrection in Leawood, Kan., perhaps inspired by the riches gathered by “dotcom” company stocks, is planning to float stock in an initial public offering. Its new for-profit arm plans to invest in real estate, with profits going to help the church grow. “We have a commercial enterprise but a charitable need,” the church's lawyer says. The plan is apparently the first in the U.S., but the Roman Catholic Church in Brazil has announced an IPO of Rio de Janeiro's Banco da Providencia, which is owned by the Rio Archdiocese. They say the stock's “social dividends” should bring enough income to fund all of its Rio church operations within four years. (Reuters, 2) ...“Freedom of religion” does not mean religion is free.