Donor of $150-Million Pledge Faces Money Woes

News that Denver businessman Stanley W. Anderson owes hundreds of thousands of dollars to creditors has raised questions about his ability to make good on the promise he made last week to donate $150-million to the Presbyterian Church (U.S.A.), in Lexington, Ky., The Denver Post reports.

According to public records, Mr. Anderson, the founder of Anderson and Associates, in Arvada, Colo., has faced liens for failing to pay income taxes and homeowners-association bills, his home is in foreclosure, and his assets have been frozen because of a pending court judgment. But Mr. Anderson said he intends to pay off his debts and keep his promise to give the church the $150-million using funds from offshore investments made “with various partners.”

John Detterick, executive director of the Presbyterian Church’s general assembly council, said that while the news of Mr. Anderson’s financial troubles was a disappointment, he believes Mr. Anderson will come through with the money. But some people affiliated with the church questioned whether the organization should have done more research on Mr. Anderson before announcing his gift.