LDS Church kept the lid on its $100B fund for fear tithing receipts would fall, account boss tells Wall Street Journal
www.sltrib.com
Latter-day Saint officials kept the size of the church’s $100 billion investment reserves secret for fear that public knowledge of the fund’s wealth might discourage members from paying tithing, according to the top executive who oversees the account.

They are required to talk about anything over $100 million but they “didn’t want people to be discouraged about tithing to them.”

I was looking up if they owned any Pepsi stock still and apparently if they do, they’re not talking about that either.

  • alienanimals@lemmy.worldEnglish
    158·
    10 个月前

    The Mormon church regularly influences politics and doesn’t pay a single penny to taxes. END TAX EXEMPTION FOR CHURCHES.

    • Astroturfed@lemmy.worldEnglish
      252·
      10 个月前

      Hey, just cuz they basically own a state and send their kids who aren’t brainwashed zealots to camps where they force them to do manual labor and abuse them doesn’t mean they should pay taxes. Think about how much harder it will be for them to pay out any lawsuits for the rampant sexual abuse they throw members out for reporting. Think of the pastors and l church leaders. Don’t they deserve to live like kings and assault whoever they want to?

      I can stick my hand through a curtain and do the secret handshake into heaven. I am the chosen. If you drink caffeine strait to hell sinners.

    • PeleSpirit@lemmy.worldOPEnglish
      22·
      10 个月前

      I agree, if you’re putting money into the market, then that money should be taxed before it goes in.

  • MrJameGumb@lemmy.worldEnglish
    576·
    10 个月前

    You mean a church that was founded on a science fiction story created by a conman is hiding money??? 😲😲😲

    Who would have ever thought such a thing possible???

    • PeleSpirit@lemmy.worldOPEnglish
      272·
      10 个月前

      Are you referring to the golden plates or are you confusing this one with Scientology? Either way, we’re not sure if they’re hiding money anymore, lol.

    • mustardman@discuss.tchncs.deEnglish
      6·
      10 个月前

      All you need to do is remove the word “science”, otherwise you’re just describing Scientology as the other person mentioned.

  • Moobythegoldensock@lemm.eeEnglish
    27·
    10 个月前

    For members of The Church of Jesus Christ of Latter-day Saints, tithing — donating 10% of one’s income to the faith — “is more of a sense of commitment than it is the church needing the money,” Roger Clarke, head of Ensign Peak Advisors, which manages the denomination’s investing holdings, told The Wall Street Journal.

    “So they never wanted to be in a position where people felt like, you know, they shouldn’t make a contribution,” Clarke said.

    Checks URL

    Not the Onion? Ok, then…

  • hoodlem@hoodlem.meEnglish
    20·
    10 个月前

    LDS leader Lorenzo Snow started tithing in the late 1800s because the church was broke.

    Now the church has billions upon billions, but have never stopped tithing. They need that Gen Z’er minimum wage money, right?

      • hoodlem@hoodlem.meEnglish
        1·
        10 个月前

        You are right, my bad. Lorenzo Snow presided over a debt crisis and encouraged members to pay tithing, but tithing itself was implemented in 1838 as you said.

    • PeleSpirit@lemmy.worldOPEnglish
      5·
      10 个月前

      It’s just like anything else, a lot of them do have money, especially in the Salt Lake City area. But I’m sure there are a lot that don’t as well.

      • HeyThisIsntTheYMCA@lemmy.worldEnglish
        5·
        10 个月前

        Different societies do their food disaster planning differently. Instead of having a massive pile of nasty food storage cans no one wants to eat we have a big garden and a bunch of fruit trees. We eat it as it comes in, store just enough to get us to the next season, give what we make with it away liberally to our friends and neighbors, and if we’re ever in a pinch we can get some from our friends and neighbors no questions asked. It’s very communitarian. Also delicious. I’m not sure it would work so well in a desert, but I’ll take advantage of the fantastic climate here while it lasts.

        • Piers@lemmy.world
          English
          4·
          10 个月前

          Yeah the people who will do the best in that scenario are the ones able to sustainably produce their own food not the ones with the biggest pile of preserved food. The Almost have the Mormons beat for "the weird American religious group that is most able to keep feeding themselves once America falls over.’

    • PeleSpirit@lemmy.worldOPEnglish
      3·
      10 个月前

      I don’t watch that, were they nervously defending themselves or confident in their choices?

      • Hello_there@kbin.social
        2·
        10 个月前

        A whistleblower was like wtf, why is this so much. Aren’t we supposed to be doing charity work with it ir something?
        Also there was some self dealing real estate deals with others associated with the church

  • mysoulishome@lemmy.worldEnglish
    6·
    10 个月前

    This was put on display with the campaign to pass proposition 8 in California in the 2000’s which outlawed gay marriage. It was a conservative brainchild but Mormons were largely behind its promotion and success. It was made public what businesses donated to the campaign to support it, those businesses were boycotted for many years after… I remember seeing my Mormon chiropractor on this list and learned that the church called on all members to personally/financially support the passing. How that happened in such a heavily liberal state is a testament to their power.

    Thankfully (ironically?) prop 8 later became instrumental in legalizing gay marriage when it was taken to the Supreme Court. If you don’t know the story I highly recommend learning about it. There are plays and movies about it that are very moving and entertaining.