Promise Keepers Attracts Dollars As Well As Men

Promise Keepers talks about turning America toward God by gathering millions of men for Christian rallies that become a foundation for changed lives.

Promise Keepers is gathering something else, too: millions of dollars.

Founded on a prayer six years ago, the evangelical group is taking in millions annually from the sale of tickets and souvenirs, investments and donations. Officially nonprofit and tax-exempt, Promise Keepers has made $14.7 million since 1993, tax records show.

Revenues totaled in $96.1 million last year alone, mostly from the sale of $60 tickets to 22 stadium conferences, where offerings also were accepted.

The organization finished $8.5 million in the black and reported $15 million in net assets in 1995, the last year for which tax records are available. PK’s excess revenues nearly equaled the amount it received in donations that year: $8.7 million.

Investments netted $1 million.

This year’s budget is $117 million, although a spokesman said revenues likely will fall short because of the free admission to PK’s most ambitious rally yet: an Oct. 4 gathering on the Mall in Washington, D.C The Denver-based organization, founded by former University of Colorado football coach Bill McCartney, did not have a long-range plan for growth, said spokesman Mark DeMoss.

“This wasn’t a clever marketing scheme,” DeMoss said. “This has really been a case where the organization has tried to keep up with the growth.”

This much is certain: Promise Keepers was blessed with quick riches. The idea of filling a stadium with Christian men emerged in 1990 during a talk between McCartney and a friend, according to the group’s literature. Backers prayed and fasted about the concept.

The first event was held in July 1991, when 4,200 men gathered at the University of Colorado basketball arena. Money was soon pouring in.

Promise Keepers reported that its 13 regional conferences in 1995 generated $40.1 million, and another $6.6 million in profit came from the sale of souvenirs, including shirts, hats, books and tapes during the meetings.

The group spent $33.4 million staging the gatherings, DeMoss said.

The group says 90 percent of its ticket prices goes toward staging the conferences.