Last month Scientology’s UK corporation known as the Church of Scientology Religious Education College Inc (COSRECI), filed their latest accounts with the Australian Charities & Not-for-profits Commission.
The filings reveal an overall annual income of $26,562,014, up $3 million on the previous year. With expenses of $29,300,642 the corporation operated a net loss and have a total of $26,030,587 in cash available at the bank.
The filings also reveal Scientology were liable to pay $111,872 in VAT (UK sales tax) and $3,287 in UK Corporation Tax for the year 2022.
COSRECI also recorded over $2 million in donations from the US-based Church of Scientology International for ‘ecclesiastical management services’ and building improvements, as well as loans to the tune of $107,835,636.
There are also outstanding loans from Scientology International Reserves Trust (SIRT) for $11,715,442, Church of Scientology Celebrity Center International for $2,521,838, as well as a charge from Flag, Scientology’s Clearwater Florida HQ for courses provided to COSRECI totalling $1,522,949.
Perhaps worryingly, the 2022 filings revealed a contingent liability of $66.7 million for undelivered services. This is also known in Scientology as ‘money on account’, where parishioners pay in advance for services. According to the 2021 UK census, there are only 1,844 Scientologists in the UK meaning the average Scientologist has paid $36,171 for services they have not yet received.
With only $26 million available at the bank, this means Scientology is in a dangerous place: it does not have enough cash on hand to cover the cost of it’s undelivered services.
You can read COSRECI’s 2022 Finanical Report here:
