The Nation - News from Aug. 4, 1986
More than $1 million in public donations to Shrine children’s hospitals was used to finance long-term, low-interest loans for Shrine employees, the Orlando, Fla., Sentinel reported. The 868,000-member national fraternity provided loans at 6% interest to 13 people to build or buy homes when the organization moved its headquarters from Chicago to Tampa, Fla., in 1978, Shrine auditor James Hendrix was quoted as telling the Orlando paper. Nine of the employees paid no interest on the loans for up to 20 months, Hendrix said. The newspaper said the Shrine broke no law in issuing the loans. But experts on charities told the Sentinel that such loans are unusual.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
