Salvation Army Real-Estate Holdings Valued at $4-Billion

The Salvation Army owns real estate valued at $4-billion nationwide, much of it used to provide rent-free housing to its officers, the Los Angeles Times reports.

The property represents about a third of the charity’s assets. Its holdings include 87 homes and condominiums in Southern California’s Los Angeles and Orange counties, some in affluent areas such as Santa Monica and Rancho Palos Verdes.

Salvation Army leaders say amassing property makes good business sense because it allows the organization to pay low salaries and easily transfer officers, who in the United States move about every four years. But some charity analysts say housing officers in million-dollar homes contradicts the image of sacrifice and service the group markets to donors.

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