Christianity

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Wealth Profile Of Mountain Of Fire And Miracles Ministries (Mfm)

Mountain of Fire and Miracles Ministries (MFM) stands out as one of the most influential Pentecostal movements to have emerged from Nigeria. Since its inception in 1989 by Dr. Daniel Kolawole Olukoya, MFM has grown from a prayer-focused fellowship into a global network of churches with a presence in countries across Africa, Europe, North America, and beyond. Known for its strong emphasis on deliverance and spiritual warfare, MFM is not only a spiritual force but also a financial institution in its own right.

In this post, we’ll take a deep dive into the wealth profile of MFM, uncovering how it sustains its operations, the scale of its finances across various countries, and what makes its financial model both unique and successful.

MFM at a Glance

Mountain of Fire and Miracles Ministries operates with a deeply rooted religious vision focused on “spiritual revival” and “violent prayer.” The church's style may be unconventional to outsiders, but it has amassed millions of followers around the world. With this large following comes the responsibility—and the resources—to manage both spiritual and administrative affairs effectively.

As MFM expanded internationally, it registered as a nonprofit religious organization in various countries. This move has made aspects of its finances publicly accessible, offering a rare glimpse into the monetary workings of a religious institution of its scale.

United Kingdom: A Financially Robust Branch

One of the most transparent glimpses into MFM’s financials comes from its operations in the United Kingdom. Registered under the name Mountain of Fire and Miracles Ministries International (Charity No. 1100416), this branch is required to publish detailed annual financial reports due to the UK’s strict charity governance laws.

For the financial year ending December 31, 2023, here’s what MFM UK reported:

• Total Income: £2,710,006

• Total Expenditure: £2,198,198

• Net Funds Retained: £511,808

The entire income for the year came from charitable activities, showing that donations, tithes, offerings, and similar contributions remain at the heart of MFM’s funding model in the UK. A small sum (£376) was also recorded as income from investments.

One of the more striking figures was MFM UK's own-use assets, valued at £5.55 million. This likely includes church buildings, ministry headquarters, and other property-related assets, all vital for the ministry's expansive programs and gatherings.

The UK branch’s commitment to financial accountability is clear: all reports were filed on time and made available to the public via the Charity Commission’s portal.

United States: A Decentralized Financial Approach

In the United States, MFM’s financial activities are more fragmented. Several nonprofit entities operate under variations of the ministry’s name, each managing its finances independently. This decentralized model reflects the diversity of U.S. nonprofit regulations across states and cities.

A few examples:

1. Mountain of Fire and Miracles Ministries (EIN: 61-1556075):

   • 2023 Revenue: $241,000

   • Expenses: $279,000

   • Net Loss: -$38,885

   • Reported Assets: $0

   This branch ran a deficit in 2023, although the figures suggest relatively modest operations.

2. MFM Inc. South Jersey (EIN: 26-2289084):

   • 2021 Revenue: $142,351

   • Expenses: $82,397

   • Assets Held: $313,138

   Here, the South Jersey branch had a budget surplus and a healthy asset base, indicating better long-term sustainability.

The financial results across U.S. branches vary significantly, which is not surprising for a decentralized system where each church manages its budget independently under a broad brand umbrella.

MFM in Ireland: Smaller But Operational

In Ireland, MFM is registered as Mountain of Fire and Miracles Ministries Ireland Region 3 Company Limited by Guarantee. While this branch is smaller in scale, it also shares financial details publicly.

For the financial year ending March 31, 2021:

• Revenue: €25,034

• EBITDA (Operating Profit): €4,708

Interestingly, although revenue dropped by over 46% from the previous year—likely due to pandemic-related disruptions—operating efficiency improved slightly, with EBITDA increasing by 4.27%. This points to effective cost management even amid challenges.

Main Sources of Income

MFM’s financial engine is driven primarily by contributions from members and well-wishers. While data varies by country, a few universal sources of income include:

1. Tithes and Offerings:
   This is the cornerstone of income for most Pentecostal ministries, and MFM is no exception. A sizable portion of its budget is covered through regular member donations.

2. Charitable Programs:
   In countries like the UK, where “charitable activities” form the entire income base, this includes event fees, donations received during revival programs, and partner contributions to specific outreach initiatives.

3. Investment Income:
   While minimal at present, some MFM branches report small returns from investments.

4. Real Estate Use and Rentals:
   Some of MFM’s real estate holdings, such as event venues or guesthouses, might generate passive income, although details are not always disclosed.

Expenditure Patterns and Asset Investment

How does MFM spend its money? Consistently, across multiple regions, MFM’s largest category of expenditure is on charitable and religious activities—these include:

• Outreach and evangelical missions

• Deliverance programs and revivals

• Welfare support for members in need

• Church facility maintenance

• Staff salaries and training

In countries like the UK, nearly £2.2 million was spent on these activities in 2023 alone. That’s an indication of a mission-focused financial culture, where a large portion of income is reinvested into the ministry’s operations.

As for physical assets, MFM is known to own significant properties across Nigeria and abroad. These include worship centers, prayer camps, office complexes, and training schools for pastors and ministers.

Governance and Transparency

Depending on where you look, MFM’s financial transparency varies. The UK branch is a model of regulatory compliance, with updated reports, clear documentation, and a transparent flow of information. In contrast, some branches in the U.S. or smaller countries have limited public data, either due to less stringent requirements or simply the scale of their operations.

This reflects both the strength and the challenge of MFM’s global structure: decentralization allows flexibility, but it also means that financial discipline and transparency are not uniform across the board.

Conclusion

Mountain of Fire and Miracles Ministries is much more than a place of worship—it is a global movement with a financial engine that supports its expansive spiritual mission. While some of its branches operate with modest budgets, others manage multi-million-pound assets and expenses.

The church’s ability to mobilize resources through tithes, offerings, charitable programs, and strategic real estate investments highlights its efficiency and commitment to long-term sustainability. At the same time, the varying levels of financial transparency across countries show that there’s room for more consistent reporting and centralized oversight.

Overall, MFM’s financial profile tells a story of growth, resilience, and mission-driven stewardship. For followers, financial contributors, and curious observers, this offers valuable insight into how one of Africa’s most prominent ministries sustains its vision on a global stage.