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  MORMON MONEY
Total Articles: 73
Topics surrounding the Church Of Jesus-Christ of Latter-Day-Saints annual income and spending. A Mega-Billion dollar tax-exempt corporation hiding behind the guise of a "Church". It is estimated that the LDS Church earns an average of 60 Billion dollars a year in holdings and 7 Billion dollars a year in annual member "Tithing".
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LDS Church Invests $1 Million Into Paris Idaho Ward
Monday, Jul 19, 2004, at 07:09 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
From Religion News Blog:
PARIS, Idaho (AP) -- While the Mormon church is accommodating growth with new temples in nearby Rexburg and in New York City, LDS leaders are not neglecting the historical roots of their faith.

An extensive, restoration project is being considered for the Paris Tabernacle, a 118-year-old meeting hall designed by a son of church leader Brigham Young.

The tabernacle's steps are being restored this summer to their original condition, reusing the same rocks that were embedded in the original sandstone steps more than a century ago.

While that is considered ongoing maintenance, teams of craftsmen, engineers and professionals also are on scene, evaluating what work needs to be included in the project, like restoring windows to their original condition and shape.

The church has good reason to celebrate its history in Idaho, which would likely not exist as a state if it weren't for colonizing efforts by The Church of Jesus Christ of Latter-day Saints, said Idaho State University history professor Ron Hatzenbuehler.

"That's probably a distinct possibility," agreed Frank Crawford, the local stake president. "I think Brigham Young, with the settlement of this area and other areas as well, was pretty prophetic -- pardon the pun -- with his outlook on that. He was a very pragmatic colonist."

Mormon pioneers, led by Charles C. Rich, founded Paris in southeast Idaho on Sept. 26, 1863. Franklin, settled by Mormons three years earlier 25 miles to the southwest, was Idaho's first community.

Given that the theology and practice of the Mormon Church violates essential Christian doctrines, Mormonism does not represent historical, Biblical Christianity, is not a Christian denomination, and is not in any way part of the Christian church.

Hatzenbuehler argues that Idaho likely would have never achieved statehood without these Mormon settlements, which were followed by large-scale Mormon migrations in the 1870s and then the railroad.

He said such settlement would have eventually reached what is now Idaho. However, had it been delayed in the southeastern part of the state by 10 or 20 years, there would have been a much less compelling reason for statehood.

Instead, Hatzenbuehler said the territory would have been divided up among its neighbors instead of becoming the state of Idaho on July 3, 1890.

"It certainly could have happened that way, 49 states," he said.
Continue Reading Religion News Blog.
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LDS Church Buying SLC Side Street
Friday, Jan 14, 2005, at 02:44 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
From the Salt Lake Tribune:
Salt Lake City's Planning Commission will hold a public hearing about the proposed Edison Street sale Jan. 26 at 5:45 p.m. in City Hall, 451 S. State St.

The LDS Church is buying another Salt Lake City street. But don't expect a flap like the one that erupted when it bought part of Main Street in 1999.

"It's actually not that big of a deal," said Wayne Mills, a city planner working on the purchase.

This time, the road - Edison Street (150 East) between 600 South and 700 South - isn't in use. Main Street between South Temple and North Temple was at the time it was sold.

The purchase price will be different, too. The church bought Main Street in the heart of downtown for $8.1 million. The city isn't yet disclosing Edison's worth, but it will be much lower.

"It's not anywhere the size or the value Main Street was," said Linda Cordova of the city's property-management division.

The city closed that portion of Edison almost two decades ago but retained ownership because it owns land nearby. The church has now requested the city declare Edison's southern half as surplus property so it can buy it and combine the land with its adjacent Deseret Industries, 131 E. 700 South.

Mills said the church wouldn't be able to build anything on the property because the city has a utility easement underneath. The church could stripe it for parking.

The city routinely closes and sells minor streets such as Edison. But even this transaction caught Mills' attention because of the Main Street Plaza controversy.
Continue Reading Story.
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How Much Money Does It Take To Run A Meetinghouse Or Stake Center?
Thursday, Mar 10, 2005, at 07:58 AM
Original Author(s): Stray Mutt
Topic: MORMON MONEY   -Link To MC Article-
I was figuring how many members and how much money is needed to run a building. I'll give me estimates and I would like input.

Utilites: I could see the average stake center running a utility bill around $2,750 a month. That includes water, energy, sewage, and trash service.

Another $200 a month for lawn care, snow removal services.

Phone Services. I could see that costing $25 a line and we have 10 lines. total of $250 a month

Nongosepel supplies (i.e. Toliet paper, paper towels, window washer, etc) $200 a month

Office supplies $200 a month

Gospel books, videos, related materials $200 a month

all Activity Funds $1000 a month

So the total to run an already built stake center/ward meetinghouse is by my estimate around $5,000 a month.

If you have 2 wards meet in one building and they have 75 tithe payers each then the tith payers only have to pay $35 a week for the church to pay the bills.

- -

Remember, cleaning, snow removal, etc. were discontinued by the COB. Those responsibilities now fall on the members as "Callings".

- -

Remember... 20% of the church financially supports the other 80%. So the tithes of members in prosperous countries go to pay for costs around the world.

And it's not just the costs of maintaining the status quo, it's the costs of empire expansion -- new land, new buildings -- and the costs of replacing obsolete facilities.

This is what you get when you're part of a global organization instead of an independent congregation.

- -

When I was a fincance clerk, I figured that there were at least 4 families in our ward (including myself), who's tithing by itself covered the entire ward budget, building costs, AND could have paid for a part-time janitor for all the stake's buildings. But NO, the members had to do the janitorial work. I refused.

So we only got a fraction (2%) of the entire income we brought in to run our ward and building. All the rest went to "build up the kingdom" and pad somebody else's pockets. What a load of crap!

That pretty much disgusted me and was one of the many things that led me out the door.
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Mormon Seminary Teacher Charged In $10 Mil Investing Scheme
Tuesday, May 17, 2005, at 08:12 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
They were the oddest of couples.

One had been a Mormon seminary teacher. The other an ex-con.

Despite their disparate backgrounds, former Mesa resident Dennis D. Cope and Edgar M. Bias of Houston worked together to run an international fraud scheme that cost investors, including some Arizonans, almost $10 million, according to court records.

The losses could be much higher, as investors have told investigators that roughly 600 people invested up to $100 million total.

Some of the lost money went toward personal use for Cope and Bias, and there was lavish spending on luxury hotels, restaurants and jewelry, according to credit card records from one of their investment firms.

Cope and Bias are alleged to have run their schemes the past 6 1/2 years, playing "catch me if you can" as they eluded inquiries from Canadian officials and investigations by the U.S. Securities and Exchange Commission, the FBI, the Internal Revenue Service and securities regulators from at least six states, including Arizona.

This spring, however, the feds cracked down on them.

Click Here For Original Link Or Thread.
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The Young TBM's Are More About Money Than Their Parents Were
Monday, Jul 11, 2005, at 09:21 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
Many in the older generations of Mormonism believed we worked jobs and used the free market system because it was available and convenient. The ultimate system was a pure form of communism called the Law of Consecration. Money was viewed as a necessary evil that the church will use until times change and the Law of Consecration can be used.

My mom grew up through the great depression and her small Utah town didn't have much money. Funny, most Mormons then had no money. They grew and produced their food, or bartered a skill or an agricultural good for a service or good.

As much as Mormonism makes me sick, the one aspect of it I do like is our Mormon ancestors could literally take nothing and make something out of it. I don't think the Mormons today could do that. They throw money at the problem. They turn Nauvoo and Martins Cove into tacky tourist traps. If they were smart, they would build a world-class roller coaster on these sites to attract more people.

One thing I see in the young married TBM couples is they are all about money. If you have money, they like you, well maybe, you still have to have the TBM personality from a can. If you have a work ethic but happen to have a blue collar job that doesn't meet their level of approval, you carry the pee bucket in the ward. Yup, they treat Brother Williams the plumber like a guy who makes his living fixing pipes full of dung and can't believe that low life can charge $45/hr and get away with it. My gosh, young TBM Elders Quorum president has a masters degree in church history and can't make that kind of dough. Brother Williams does all his church assignments but occasionally says, "damn!" and "shit!" when mad but it's not fair! I know the scriptures better than him and don't say damn! He doesn't deserve that nice ski boat we took the youth on last Saturday!

The Mormons constantly yak about how the Book of Mormon was written for our times. Back when Ezra Taft Benson was a prophet, he warned us the latter day saints could easily become like the Nephites of old. Stuck up on themselves and only concerned with wealth while they think they are God's own special people.

Well, from what I see, the modern day LDS Church is a bunch of corrupted Nephites at every level. Not that I'm saying the Book of Mormon is true or that it really matters but the Mormons are dropping their own ball and think God loves them for doing it.

I've never seen the membership of the church so dysfunctional and greedy. President Hinckley thinks it's great. As he said in the last general conference, “The church is in the best shape it has ever been!" Hmmmmm. Go to any LDS ward and compare the activities and people to a ward 30 years ago. The members now are sloppy, lazy, ill mannered, in debt up to their ears, and conceded as hell. Everything they are not supposed to be but Mormons are too busy patting each other on the back to notice.

Yup, the modern day church has indeed fallen. They have become the Nephites. Oh how I wish they would disappear like the Nephites did. Funny, nobody can even find any Nephite DNA they so disappeared.

The Book of Mormon may be fiction but the point is, the members of the Mormon Church do horribly when they try to follow their own fictional value system.

It's all about the money. Be a nice person in the Mormon corridor with no money and see how you are treated. You only can be poor in Africa. They like poor people there, lots of programs available to save you. If Bono won't help you, Hinckley will. At least if the cameras are on. LOL!

Even the prophet likes bling. He's into building a huge Conference Center that cost as much as the Belagio Hotel/Casino in Vegas. He's into building brightly lit temples in highly visible areas. The buildings may be tacky but who can miss the San Diego temple on I-5? It looks like it belongs in Vegas. In a way, the Mormon church is like a boring casino. Lots of gimmicks used to get you in and they try and keep you there until you're broke.
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LDS Soon To Buy Devereaux House
Thursday, Jul 14, 2005, at 07:42 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
Salt Lake City's Redevelopment Agency is expected to help clear the way tonight for the LDS Church to purchase the state-owned Devereaux House near the Triad Center downtown.

Heritage Gardens in front of the Devereaux House, believed to be the first mansion constructed in Utah.

The Church of Jesus Christ of Latter-day Saints purchased a large portion of the Triad Center last year with plans to open an extension of Brigham Young University there along with relocating the LDS Business College, now housed at 400 East and South Temple. The state has received an offer from the church to purchase the mansion.

Salt Lake City's RDA has an interest in the property because it helped facilitate reconstruction of the mansion after a fire nearly destroyed it in 1979, shortly after it was purchased by the state Legislature. To clear the title exceptions and facilitate the sale, RDA board members are expected to adopt a resolution "approving the termination of the lease/lease-back agreement" between the state and the RDA, "terminating the agency's interest in a sublease, maintenance and management agreement" between the RDA, the state and Devereaux Partners Ltd.

The item is listed on the RDA's formal agenda for tonight's meeting at the Salt Lake City-County Building.

Click Here For Original Link Or Thread.
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The Mormon Church Has Been About Business For A Very Long Time
Tuesday, Jul 26, 2005, at 08:26 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
I thought you might find interesting this transcript of the US Senate Committee case regarding Mormon Senator Reed Smoot. Where did Mormon Church President Smith find time for meditation, let alone revelation?

Senate Committee Testimony Transcript:

Mr. Tayler (Senate Attorney):What is your business?
Mr. Smith (Mormon Prophet and President): My principle business is that of president of the church.
Mr. Tayler: In what other business are you engaged?
Mr. Smith: I am engaged in NUMEROUS other businesses.
Mr. Tayler: What?
Mr. Smith: I am PRESIDENT of Zion's Cooperative Mercantile Institution.
Mr. Tayler: Of what other corporations are you an officer?
Mr. Smith: I am PRESIDENT of the State Bank of Utah, another institution.
Mr. Tayler: What else?
Mr. Smith: PRESIDENT of Zion's Savings Bank and Trust Company.
Mr. Tayler: What else?
Mr. Smith: I am PRESIDENT of the Utah Sugar Company.
Mr. Tayler: What else?
Mr. Smith: I am PRESIDENT of the Consolidated Wagon and Machine Company.
Mr. Tayler: What else?
Mr. Smith: There are several other SMALL INSTITUTIONS with which I am associated.
Mr. Tayler: Are you associated with the Utah Light and Power Company?
Mr. Smith: I am.
Mr. Tayler: In what capacity?
Mr. Smith: I am a director and PRESIDENT of the company.
Mr. Tayler: A director and the president?
Mr. Smith: Yes, sir.
Mr. Tayler: Had you that in mind when you classified the others as 'small concerns'?
Mr. Smith: No sir, I had not that in mind.
Mr. Tayler: That is a 'large concern'?
Mr. Smith: That is a large concern?
Mr. Tayler: Are you an officer of the Salt Lake and Los Angeles Railroad Company?
Mr. Smith: I am.
Mr. Tayler: What?
Mr. Smith: PRESIDENT and director.
Mr. Tayler: Of what else are you President?
Mr. Smith: I am PRESIDENT of the Salt Air Beach Company.
Mr. Tayler: What else, if you can recall.
Mr. Smith: I DO NOT RECALL JUST NOW!
Mr. Tayler: What relation do you sustain to the Idaho Sugar Company?
Mr. Smith: I am a director of that company and also the PRESIDENT of it.
Mr. Tayler: Of the Inland Crystal Salt Company?
Mr. Smith: Also the SAME POSITION THERE.
Mr. Tayler: The Salt Lake Dramatic Association?
Mr. Smith: I am PRESIDENT of that and also a DIRECTOR.
Mr. Tayler: Are you president of any other corporation there?
Mr. Smith: I DO NOT KNOW. PERHAPS YOU CAN TELL ME!! I DO NOT REMEMBER ANY MORE JUST NOW!
Mr. Tayler: It would seem that the number has grown so large that it would be an undue tax upon your memory to charge you with naming them all.
Mr. Smith: What relation do you sustain to the Salt Lake Knitting Company? Did I already ask you about it?
Mr. Smith: No sir, you did not.
Mr. Tayler: The Salt Lake Knitting Company?
Mr. Smith: I am PRESIDENT of it, and also a director.
Mr. Tayler: The Union Pacific Railway Company?
Mr. Smith: I am a DIRECTOR.
Mr. Tayler: Are you an official of any mining companies?
Mr. Smith: Yes, sir.
Mr. Tayler: What?
Mr. Smith: I am the vice-president of the Bullion, Beck and Champion Mining Company.
Mr. Tayler: The Deseret News?
Mr. Smith: No, sir.
Mr. Tayler: You have no business relations with that?
Mr. Smith: NO SIR.
Mr. Tayler: Is the Deseret News the 'organ of the Church'?
Mr. Smith: Well, I suppose it is in some sense the 'organ of the church'. It is not opposed to the church, at least.
Mr. Tayler: It has for years published, has it not, at the head of its columns, that it is "the organ of the church", or the "official organ of the church"?
Mr. Smith: Not that I know of.
Mr. Tayler: Do you know who owns it?
Mr. Smith: How is that?
Mr. Tayler: Do you know who owns it?
Mr. Smith: I know who owns the building that it is in.
Mr. Tayler: Who owns the building in which it is published?
Mr. Smith: The church.
Mr. Tayler: The church?
Mr. Smith: Yes, sir.
Mr. Tayler: Tell us what you know about the owners of that newspaper.
Mr. Smith: It has been for a number of years past owned by a company --- AN INCORPORATED COMPANY.
Mr. Tayler: What is the name of the company?
Mr. Smith: The Deseret News Publishing Company.
Mr. Tayler: Do you know who its officers are?
Mr. Smith: No, it is not owned by that company.
Mr. Tayler: Oh, it is not?
Mr. Smith: No; it is not.
Mr. Tayler: What do you know ----
Mr. Smith: But I say for years it was owned by a company of that kind.
Mr. Tayler: What do you know about its present ownership?
Mr. Smith: I presume that the present ownership is IN THE CHURCH.
Mr. Tayler: You suppose the present owner is 'the church'?
Mr. Smith: Yes, sir; the church.
Mr. Tayler: I do not want to have any misconstruction put upon your use of the word 'presume' because you do not know that it is so owned?
Mr. Smith: I really do not know so that I could tell you positively.
Mr. Tayler: Who would know?
Mr. Smith: I PRESUME I could find out.
Mr. Tayler: Could you find out before you leave Washington?
Mr. Smith: Perhaps so.

(SOURCE: Reed Smoot Case transcript, Vol. 1, pp. 81, 82, 83, 86, 87, and 88)

A day later, because the ownership of the Deseret News and its articles were keys to the case, Joseph F. Smith testified:

Mr. Tayler: In what form does your church have title to the Deseret News property?
Mr. Smith: It owns the deed.
Mr. Tayler: I am speaking of the newspaper, not the building.
Mr. Smith: The press; yes. I would like to state that when I was asked that question before, Mr. Tayler, I was not aware of the fact that I have since learned from my counsel here that during the trusteeship of Lorenzo Snow the Deseret News plant was transferred from the Deseret News Company to Lorenzo Snow, trustee, in trust. I was not aware of the fact, Mr. Chairman, when that question was asked me yesterday, I believe it was. I have since learned that that is the fact and that my counsel who is here made out the papers for the transfer. .....
Mr. Tayler: So that it is now in YOU as trustee in trust?
Mr. Smith: NOW I OWN IT AS TRUSTEE IN TRUST. Furthermore, I will say that I have discovered since yesterday that there is published on the second or third page of the Deseret News the statement that it is the "organ of the Church of Jesus Christ of Latter-Day Saints"
(Reed Smoot case, Vol. 1, page 158).

As you can see, the Mormon Church has been about business for a very long time.
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Devereaux Mansion Sells For $900,000
Thursday, Aug 11, 2005, at 06:57 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
The LDS Church has paid the state $900,000 for the historic Devereaux House, according to the sale contract.

The deal, which recently was finalized, comes with strings.

The state can keep the artwork in the mansion at 340 W. South Temple and the church must maintain the "historical and architectural designation" of the house and associated "carriage house" until 2105.

It appears the mansion - reconstructed in 1984 after a fire - must be protected anyway because it is listed on the city's historic register.

The home was considered the Salt Lake Valley's first mansion when the original was built in 1857.

The state granted the church the right to move the two structures somewhere else - though there are no plans to do so.

Today, the mansion is used as a reception center. The church plans to allow those receptions to continue, but hasn't announced any future uses.

http://www.sltrib.com/utah/ci_2932189
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LDS Church To Build Ogden Multi-Use Space
Thursday, Sep 29, 2005, at 07:02 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
The LDS Church announced plans Wednesday to build a four-story, multi-use facility in downtown Ogden, citing optimism about the city's redevelopment efforts in the area.

The Church of Jesus Christ of Latter-day Saints, via its real estate investment arm, Property Reserve Inc., is expected to begin construction next year on a 75,000-square-foot office/retail building at 22nd Street and Washington Boulevard.

The building will be immediately north of the LDS Church's Ogden temple and adjacent to the Treehouse Children's Museum.

http://deseretnews.com/dn/view/0,1249...
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The Mormon Church Owns More Than 1% Of All Rembrandt Art
Thursday, Sep 29, 2005, at 07:19 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
The Church recently purchased 17 of Rembrandt van Rijn's 70 biblical etchings. There are some 1500 authenticated Rembrandt pieces. 17 divided by 1500 is slightly more than 1%. The article in the "Ensign" hints that the Church owns more Rembrandts. When I was on a mission, we would castigate the Catholic Church as being the great whore of all the earth, with their idols and expensive artworks, all of the devil. Also their churches and cathedrals so majestic built and expensively furnished. Now I know our temples are modestly furnished with heavy duty traffic carpet and velour sofas and seats, but still, we brag endlessly about how many temples we have and how great they are.

So, will the posters here finally get off their high horses about the 1 billion dollar malls and concentrate on the vast art treasures the church owns. The auction must have been at Christy's or Southebys, but I don't remember hearing about it.

Instead of being the "Whore of the whole Earth", maybe we can be the "ingenue tart of the western hemisphere".

- -

The Ensign says the pictures are on display now at the Museum and Church History and Art. Evidently, they have borrowed other Rembrandts to display along with they ones they own.
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LDS Church Breaks Ground For Library
Monday, Oct 10, 2005, at 08:54 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
Tight space, aging records and a growing membership have left the current LDS history library crowded and inadequate.

But Friday, church leaders broke ground on a new Church History Library for the "recordmaking and recordkeeping people" of The Church of Jesus Christ of Latter-day Saints.

"The church grows and the volume of the records continues to increase in large numbers. I don't know if we'll ever build a building large enough to hold them all. But this is an attempt to do this," said President Gordon B. Hinckley, joking that the current history library in the Church Office Building has "accumulated so much that if we don't move it out of there, it will break the floors."

He said the groundbreaking marked "a day of history in the history of the church" and added that the state-of-the art facility will be "very interesting and magnificent."

The five-floor, 250,000-square-foot building will be located on the northeast corner of the intersection of North Temple and Main streets. It will house the growing historical collection, which currently includes 3.5 million manuscripts, 210,000 publications, 100,000 photographs and 50,000 audiovisual productions.

http://deseretnews.com/dn/view/0,1249...
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Show Me The Money: Church Accounts Posted In England
Wednesday, Oct 19, 2005, at 07:50 AM
Original Author(s): Christine The Never-Mo
Topic: MORMON MONEY   -Link To MC Article-
Hi everyone,

It's been awhile since I first posted the link to the Charity Commission here in the UK. And there are lots of new "faces" of people waking up to it all...

So - according to the accounts filed in Feb 2005 for fiscal year 2003, which can be found here:

http://www.charity-commission.gov.uk/...

Of the 433 employees in 2003, 22 made over £50K (which is $87.5K US). Isn't that special?!

For all charities in England, accounts must be filed with the Charities Commission. Don't you wish the US had something similar?!
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Mormon Church Affiliate Plans Housing On Oahu's North Shore
Thursday, Oct 20, 2005, at 10:46 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
HONOLULU (AP) _ An affiliate of the Mormon Church is planning to build some 550 affordable homes on more than 660 acres on Oahu's North Shore.

Hawaii Reserves Incorporated has been planning the single- and multifamily development since it bought the land between Kahuku and Laie two years ago from Campbell Estate.

The company says the majority of the homes in the Malaekahana Master Planned Community will be priced for local residents who work in the Laie area.

Hawaii Reserves is the land management arm of the Church of Jesus Christ of Latter-day Saints.

It owns or manages about seven thousand acres around Laie, and is planning to replace the 48-room Laie Inn with a 200-room hotel.

(Copyright 2005 by the Associated Press. All rights reserved.)

http://www.kpua.net/news.php?id=6561
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The Church In Great Britain Spent 2.982% Of Its Revenues In 2003 On Grants, Welfare And Humanitarian Aid
Thursday, Oct 20, 2005, at 10:59 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
Summary:

Total income – £31.788 million

Total spent on grants, welfare and humanitarian aid: £0.948 million (2.982%) amount spent from earmarked funds- £0.880 million (2.768%) amount spent from general tithing funds- £0.068 million (0.214%)

I was fascinated by the link to the Financial Statements for the year ended December 31, 2003 for The Church of Jesus Christ of Latter-day Saints (Great Britain), referenced in another thread below.

It confirmed something we all knew. The Church (if the GBChurch is representative) spends most of its money primarily on: staff, general administrative expenses and buildings.

F or the year ended 2003, the GBChurch took in £23.3 million in tithing, £5.0 million in cancellation in indebtedness from the Utah corporation, and £0.74 million in other income, totaling about £29.1 million in unrestricted income (tithing and other money that it can spend as it pleases).

The GBChurch, in the same year, also received £2.6 million in restricted income, meaning funds specifically earmarked for specific causes such as missionaries, BoM’s, fast offerings, PEF, temple construction and humanitarian aid.

In that same year, the GBChurch spent £7.3 million in staff costs, £2.0 million in GandA expenses, £8.1 million in physical facilities, £6.3 million in depreciation (not a cash expenditure) and other support and charitable causes, such that the total spent by the GBChurch in 2003 equaled about £28.7 million.

Notice that if the Utah corporation had not forgiven £5.0 million in debt to GBChurch, then the GBChurch would have been in the red (deficit) an amount of £1.89 million.

Of the £29.132 million received only £0.948 million was spent in grants, humanitarian aid and welfare, representing only 2.982% of total income. Of that 2.982%, 2.768% represented monies that had to be used for such purposes because the members designated that it be used as such. Only 0.214% (£0.068 million) of tithing money was spent on humanitarian aid.

If the GBChurch is not representative of these percentages, then it would be nice to have other audited financial statements that show otherwise. Document Sources: http://www.charity-commission.gov.uk/...
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Twin Falls, Idaho Approves Permits For LDS Temple
Thursday, Nov 10, 2005, at 08:19 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
WIN FALLS -- The Planning and Zoning Commission approved a special-use permit for an LDS temple and meeting house, as well as a variance to allow the temple's height to exceed the city's 35-foot maximum height.

Tuesday evening, MHTN Architects -- the architectural firm hired by The Church of Jesus Christ of Latter-day Saints to design the temple -- explained the proposed design, lighting and landscaping of the temple and meetinghouse to the commissioners.

http://www.religionnewsblog.com/12773...
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Why The Mormon Church Likes Owning Real Estate
Thursday, Nov 24, 2005, at 09:10 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
A separate thread on church-owned real estate has prompted me to post this comment which justifies its own thread.

Why does the Mormon Church like owning real estate? In one word, the answer is "income taxes" (technically, I guess that's two words).

A tax exempt entity like the Mormon Church pays U.S. federal income taxes on "for profit" businesses that it may acquire. The public policy behind this idea is to prevent tax-exempt entities from unfairly competing in the business world with "for profit" tax-paying enterprises. In contrast, a tax exempt entity does not pay income tax on "passive income" such as dividends, "rents" and royalties. The public policy behind this idea is to promote the work of tax exempt entities by exempting income tax on passive income.

With these rules in mind, the system can be manipulated very easily. By way of a hypothetical example, the church might buy a privately-owned cattle ranch in Florida which is highly profitable and which was paying significant amounts of federal income tax in the hands of its private owners. After the purchase of the cattle ranch, the church moves the fee simple ownership of the land (the deed to the land) under the umbrella of church ownership and then leases the land back to the "for profit" cattle ranch which the church continues to own (e.g. through an equity ownership by way of shares in a "for-profit" corporation). The passive rents paid by the ranch operation to the church are deductible as a cost of doing business thereby lowering the profits of the operation to zero (or turning profits to losses which carryforward almost indefinitely). In turn, the rent payments to the church are passive and, therefore, free of income tax to the church. When the dust settles after the purchase of the "for profit" ranch, the ranch operation isn't paying any income tax (you don't pay income tax unless you're making a profit) and the church isn't either (it doesn't pay income tax on passive rental income).

Note that the fact that the ranch in Florida might contain 300,000 acres next to Orlando (and worth hundreds of millions of dollars) is immaterial. The only loser is the federal government through lower tax collections (and all of us tax-paying suckers since other taxes have to go up to compensate for the church's tax dodge).

Of course, there's no reason to limit the tax dodge to land in Florida. Why not a multi-billion dollar mall in Salt Lake? How about thousands of acres of farm land in Missouri under the guise of the church fulfilling its mandate to "redeem" Zion? How about pineapple plantations in Hawaii? For that matter, why not the Polynessian Cultural Center in Hawaii itself? The Center lost part of its tax exempt status a number of years ago (it was making way to much money despite the church's contention that the purpose of the center was tax-exempt missionary work).

One last important point. Since the magnitude of the above tax dodge is potentially very great, it is very important for the church to maintain a policy of never releasing financial information because the extent of the tax dodge would become readily apparent.
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Using The Church's Wealth To Enlarge Its Investment Real Estate Portfolio Or Reduce Suffering - It Comes Down To What Senior Church Patriarchal Leaders Value The Most.
Thursday, Dec 15, 2005, at 09:40 AM
Original Author(s): Freeatlast
Topic: MORMON MONEY   -Link To MC Article-
I read an online news item today about the U.N.'s annual report on the welfare of children worldwide. It's not good. From the AP report (ref. http://www.signonsandiego.com/news/wo...):

"Hundreds of millions of children suffer exploitation and discrimination but are virtually invisible to the eyes of the world, according to a UNICEF report published Wednesday."

Earlier this week, I read a report that 4,000 children die every day from a lack of access to clean water and 250,000 children go blind each year because of a Vitamin A deficiency, which could be solved with a daily supplement costing four cents.

A couple of months ago, I watched a news documentary about the very significant problem of adults (30+ million of them) in India going blind due to cataracts. An Indo-Canadian biologist, Dr. Chandrasekhar Sankurathri, took early retirement and moved to the Andhra Pradesh region of India, where he established the the Srikiran Institute of Ophthalmology and a school for children from impoverished families. Incredibly, the institute (a clinic) "has performed about 95,000 surgeries and has also served half a million outpatients" (ref. http://www.cbc.ca/correspondent/featu...)

What makes this story incredibly poignant is that the wife and two children of Dr. Chandra, as he's commonly known, were murdered in 1985 in the Air India bombing. His wife was from a rural part of the Andhra Pradesh region.

When I was in Peru in 1984/5 as a missionary, I lived and worked in a number of shantytowns and a ghetto. The grinding poverty was shocking; the conditions in which many people lived, not fit for animals. Meanwhile, on the other side of Lima, the LDS Church was building a multi-million dollar temple.

Earlier this year, I read the Salt Lake City Tribune report about how the LDS Church was spending up to $1 billion dollars to buy, renovate, and expand two shopping malls in SLC. In November 2002, I visited the LDS Conference Center on my way back to the west coast from the east. The tour guide, a retired medical professional, spoke of the pear wood panelling, large alabaster light fixtures, high-tech sound system, and enormous I-beam in the ceiling that was forged in Norway just for the Center.

Other recent investment real estate acquisitions made by the LDS Church were the second largest ranch in Nebraska last year (for approx. $26 million) and 663 acres in Hawaii. According to an Oct. 19/05 news report (ref. http://the.honoluluadvertiser.com/art...):

"A Mormon Church affiliate [Hawaii Reserves, Inc.] is planning a 663-acre development in Malaekahana that would create up to 550 affordable homes between Kamehameha Highway and the Ko'olau mountains."

"Hawaii Reserves bought the 663-acre Campbell site in Malaekahana for about $10 million two years ago."

Hawaii Reserves "plans to replace the 48-room La'ie Inn with a 200-room hotel."

According to Matthew 6:19-21 in the New Testament, Jesus preached the following in his Sermon on the Mount:

"Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:

For where your treasure is, there will your heart be also."

I compare the actions of a man like Dr. Chandra, who took his life savings and retirement pension and went to India with nothing more than a firm resolve to set up a school to educate children from poor families and the ophthalmology clinic, with the actions of the senior patriarchal leaders of the LDS Church, who use their power and authority not to direct a significant portion of the church's wealth to alleviate suffering, but to enlarge the church's investment real estate portfolio.

Who has acted with greater faith and more in keeping with the words of Jesus (as they've come to us through the centuries)? Dr. Chandra, who practices no religion and told the CBC reporter that he really doesn't believe in God, or the men who are senior leaders of the Mormon Church?

For half of the $10 million dollars that the LDS Church spent on the 663 acres in Hawaii, one quarter of a million children who will go blind could receive the Vitamin A supplements that would prevent their premature blindness and lifetime of increased struggle to survive for having lost their vision.

For the $26 million that the LDS Church spent last year to buy the Nebraska ranch, 6,018 children could be sponsored for 12 years through a well-established organization such as World Vision.

For the $1 billion that the LDS Church is spending on the malls in SLC, 20 million adults in India could undergo cataract surgery in that country, which would allow them to continue to function in their families are caregivers and in their jobs (the CBC reporter interviewed one man at Dr. Chandra’s ophthalmology clinic who had been the village watchman until his vision went entirely due to cataracts. He had to work to support his family, so he continued as the blind village watchman. The expression of sheer joy on his face after his cataract surgery was a powerful testimony to Dr. Chandra’s vision and the volunteer work of the clinic’s medical professionals).

It comes to down to what people value the most.
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A Field So White And Ripe For Corruption
Monday, Jan 9, 2006, at 08:18 AM
Original Author(s): An Open Book
Topic: MORMON MONEY   -Link To MC Article-
From radio stations to insurance companies, the for-profit side of LDS, Inc is huge. In contrast, the church’s tithing funds are predictable and low risk. Loyal members pay 10% routinely. The church can also rely on unpaid volunteers and in-kind donations. Cash flow from the business side, however, can be unpredictable and high risk.

In the for-profit world, payrolls must be met, taxes paid, and equipment purchased. The cash flow needs of the for-profit side create a huge financing risk for LDS, Inc.

A low-risk, reliable source of cash is the ultimate dream of any for-profit business. How does LDS, Inc. manage the financing risk of its for-profit entities without intermingling the billions in stable cash flow from the tithing side?

Who's to say the tithing side doesn't loan money to the business side? If not outright loans, perhaps, tithing revenues provide some kind of financial guarantee for the business side, who's to say?

Who's to say there are no contingent Enron-style liabilities on tithing funds hidden from view?

Who's to say there are no liens stemming from the business side on the vast real estate holdings of the church?

Who's to say the general authorities have no conflicts of interest between money-making ventures and church responsibilities?

Who's to say there is no G.A. family nepotism in the church's business affairs?

Other than church officials, who’s to say there is a strict line separating tithing funds from business investments? The answer: no one.

There are no independent, third party auditors of tithing receipts and distributions. There are no open financial records for members to peruse. There is no independent, outside board of directors elected by church members. There is little accountability to regulatory agencies. In fact, there is little real accountability to anyone and lots and lots of blind trust on behalf of its members.

This is a situation ripe for corruption. For a multi-billion dollar enterprise, this is simply amazing. We don't know the whole story, which is exactly how LDS, Inc wants it. Members can only rely on the statements of GBH and others to the contrary. And we all know how reliable GBH's “don’t know teach that” statements have been.
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More Financial Analysis Of The LDS Church's 2003 Financial Statement For The United Kingdom
Monday, Feb 20, 2006, at 07:43 AM
Original Author(s): Freeatlast
Topic: MORMON MONEY   -Link To MC Article-
Ref. http://www.charity-commission.gov.uk/...

Total funds received: £31,788,000
Total expenditures: £28,678,000
Net surplus for 2003: £3,110,000
Total of church accounts at year end: £18,849,000

Some expenditure totals for the year from the report:

Physical Facilities: £8,162,000
Equipment: £687,000
Units Costs: £626,000
Fast Offering Fund: £500,000
Materials and Supplies: £246,000
Humanitarian Aid Fund: £193,000
Perpetual Education Fund: £101,000
Temple Construction Fund: £45,000

Total Net Book Value of Church Lands and Buildings: £216,474,000

The LDS Church (U.K.) spent 1.57% of its 2003 income on fast offering, 0.61% on humanitarian aid, and 0.32% on assisting people with their education. In total, the LDS Church (U.K.) spent only 1/40th of its 2003 income on helping people in need. The church's income surplus for 2003 was nearly four times what it spent on fast offering/church welfare, humanitarian aid, and the perpetual education fund. The total of the church's accounts (funds) as of Dec. 31/03 was nearly 25 times more than what it spent on helping financially-disadvantaged individuals and people requiring humanitarian assistance.

There's no reason to believe that the church contributes a higher percentage of its income to help people in the U.S. or any other country. Although required in Great Britain, regulations in other countries such as the U.S., Canada, etc. do not require the Mormon Church to publicly disclose its annual financial status. As we know, the church avoids such transparency as often as possible.

To be fair to the church, however, you should know that back in 2001, it provided a toilet system for an orphanage in Ghana, Africa "...that not only gave a seat where the hole [in the ground] had been, but allowed sludge siphoned out to be used as fertilizer for the fields."

"Also, gases from the waste were stored in a tank that now powers the lights of the orphanage at night..."

(ref. http://www.thehopealliance.org/news_f...)

I have to wonder how many toilet/electricity-generating systems could be bought and installed in orphanages in Africa, which has 18 million children left parentless because of AIDS, for a fraction of the US $1 billion that the LDS Church is spending on the two shopping malls in SLC.

It comes down to what people value the most.
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Mormon Finances And Charity
Tuesday, Feb 21, 2006, at 07:54 AM
Original Author(s): Nao Crer
Topic: MORMON MONEY   -Link To MC Article-
There has been quite a bit of discussion about Morg Charity and income. Based on the best information I can find, the following is a summary of the business of selling God. Sources include the following books and publications. Mormon America, Mormon Hierarchy – Extensions of Power, Mormon Corporate Empire, Time magazine, and Arizona Republic, in addition to various on-line sources. . No one really knows, because the Morg stopped reporting income in the late 1950’s when they were at the point of bankruptcy due to gross mismanagement. I would like to know any data that others have available.

Corporate Structure
The Corporation of the President of the Church of Jesus Christ of Latter Day Saints is a Corporate Sole with succession being the subsequent next President. That means he is the sole shareholder and owner of all businesses and holdings. Any legally required reporting would be to the President of the Church. Other than taxes, there is no legal obligation for reporting, other than to the owners. At this time, GBH is the sole owner. The Morg is tax exempt, so other than an annual information return, nothing is required. Real property is held by The Corporation of the Presiding Bishop of the Church of Jesus Christ of Latter Day Saints. This is a separate nonprofit corporation for the buildings, farms and raw property. I would guess that other than a few people at the top, no one knows the combined worth of the two main corporations. In addition to these corporations, there are a series of nonprofits that own BYU, Ricks and other holdings. There is also the for profit businesses which are owned by the nonprofits or select members. There are also the foreign corporations for each regional office. It is a very large and complex organization.

Income
While the tithing amount is not disclosed, there have been several attempts to determine the world-wide collection of tithing by the Mormon Church. D. Michael Quinn (Mormon Hierarchy – Extensions of Power) and the Ostlings (Mormon America) both attempt to put a dollar value on tithing. The consensus between these and other authors is that it is between 4.5 and 6 Billion dollars per year. Other offerings are relatively minor by comparison and are generally used for charitable purposes. In addition, businesses that are in line with the core purpose of the Morg can be owned and operated on a tax exempt basis. Businesses that are not tax exempt can donate to the Morg without either entity paying tax on the donations. Below is a link to a partial list of Morg owned businesses.

http://www.exmormon.org/mormon/mormon410.htm

Here is an older document about holdings.

http://www.algonet.se/~daba/lds/cworth.htm

Quinn reported that the known holdings included 48 banks, 34 lumber companies, 60 newspapers and magazines, 55 mining firms, 55 railroads and 9 hotels. There is also the $16 Billion insurance company and a chain of radio and TV stations.

In addition there are a number of related businesses that are indirectly owned by the Morg, having been sold or turned over to key members or groups. Quinn reported that ranking General Authorities were partners, Officers and Directors of over 900 different businesses. It is estimated that the gross revenues of these businesses is in excess to 6 Billion dollars per year. The net income or cash which would make its way into the coffers of the Morg would likely be in the 10% – 12% range. Add here an additional $720,000 in cash.

Holdings
In addition to the $1.5 being spent on the SLC malls, the Morg holds 6,000 acres on the North Shore of Oahu from a purchase over 100 years ago. They more recently purchased 600 acres to be developed. This includes houses that will be sold and a luxury hotel. They hold over 300,000 acres of land in Florida close to Disney World and 95,000 acres in Alberta Canada. The Mormon Church owns in excess to 925,000 acres in North America. The appreciation of the property is probably the greatest hidden value in the Mormon Church.

The total was estimated at conservative $30 Billion 10 years ago. (Ostling, Quinn). This was using conservative land and asset valuation. A former stock broker of the Morg reported that approximately $200,000,000 was added to their investment portfolio each year.

The for profit real estate is very significant as well

>The real estate division of the church conducts brisk dealings in land. Zion's Security Corporation, the church's commercial real estate arm, controls numerous office buildings in Salt Lake City, including regional headquarters for Kennecott Copper Company, J.C. Penney, Prudential Federal Savings and Loan, and many church facilities. It also owns the sprawling ZCMI (Zion's Cooperative Mercantile Institution) Mall in downtown Salt Lake as well as a controlling interest in the ZCMI store chain.


>Since 1977 a sister corporation, Beneficial Development Corporation, has taken over development work for the church, and has established several industrial parks in association with private developers in Florida, Arizona, Los Angeles, Hawaii, and Utah.


http://www.algonet.se/~daba/lds/cworth.htm

The current worth would be conservatively above $60 Billion, and if the current market value of holdings was added, it would likely be closer to $100 Billion.

Charity
Now a comparison of Morg charity and humanitarian aid. Ostling (Mormon America) compared the Morg to the Evangelical Lutheran Church of America (ELCA). They had a similar number of reported members in 1997. At that time, the ELCA had $152 Million in assets that was primarily the pension fund for the employees. This is compared to the assets of the Morg as reported above. In 1997 the ELCA raised $11.8 Million for humanitarian aid and $3.64 Million for disaster relief for a total of 15.44 Million in cash donations for charity. In the 14 year period from 1984 – 1997 the Morg reported cash donations for non-Mormon charity at $30.7 Million, or an average of 2.19 Million per year. This translates to ELCA donating a little over 10% (.10)of its holdings in 1997 and the Mormon Church donating approximately .2% (.002) of its holdings. Most businesses in the US have higher percentage charitable contributions than does the Mormon Church.

Foreign Entities
There is a number of ways that the Morg can shift income away from foreign subs to the main Corporation or vice versa. The information reported in foreign countries is most likely manipulated to show what TSCC wants to show. By selling books, temple clothing, magazines and equipment to the foreign entity at inflated or deflated prices, the income can be managed and changed significantly. The reporting from foreign subs, such as England does not give much of an indication of the health or wealth of TSCC.
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Church Cashes In On Water - $7.2 Million Leases Muddy River Rights
Wednesday, Mar 29, 2006, at 07:12 AM
Original Author(s): Henry Brean
Topic: MORMON MONEY   -Link To MC Article-
From ReviewJournal.COM:
The Southern Nevada Water Authority has struck a $7.2 million deal to lease water on the Muddy River from what might seem an unlikely source: the Church of Jesus Christ of Latter-day Saints.

"If they're not the biggest, they're one of the biggest cattle producers in the United States," said Ray Schmutz, a veterinarian in Lincoln County who has worked in Nevada for about 36 years.

Officials for the Salt Lake City-based church declined to release details concerning its holdings in the region, but church spokeswoman Kim Farah said that "it's not unusual for us to own farms" and ranches. Those operations supply food to the church's welfare program for needy LDS members and for its "humanitarian outreach worldwide," she said.

According to assessors' records, the Mormon church owns more than 720 acres in Clark County alone. "Church LDS Presiding Bishop," with an address on North Temple Street in Salt Lake City, is listed as the owner of 129 properties in the county, almost three quarters of them in the Las Vegas Valley.
http://www.reviewjournal.com/lvrj_hom...

Largest cattle producers in the country? So that burger at crown burger just might be a Mormon burger. Of course, please eat it sparingly and in times of winter - and no, you may not have a poetic license to define "winter".
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Newly Called First Quorum Of The Seventy Reveal That LDS Church Is Mostly Concerned With Its Financial Development
Tuesday, Apr 4, 2006, at 09:35 AM
Original Author(s): Skeptical
Topic: MORMON MONEY   -Link To MC Article-
In May, 2005, during his Priesthood Meeting talk, Gordon Hinckley, explaining the appointment of his son, Richard Hinckley, to the First Quorum of the Seventy, explained how and why certain men are called to be General Authorities. Hinckley stated: “Those sustained … have been chosen to fill particular responsibilities.”

One can assume, therefore, that the eleven men who were appointed as members of the First Quorum of the Seventy, during April, 2006 conference were appointed for a particular reason based on their abilities and training.

The following is a list of newly announced Seventies and their backgrounds:

David S. Baxter holds a degree in business and economics from the University of Wales and is employed by the British government in international trade development.

Shayne M. Bowen, a graduate of Brigham Young University, owns and operates an insurance agency.

Daniel L. Johnson earned a bachelor's degree in accounting and economics from BYU and has owned a business and been employed as an executive in a number of international companies as well as working with a church-affiliated business.

Marcus B. Nash holds a degree in international relations and a law degree from BYU.

Anthony D. Perkins earned an undergraduate degree from BYU in finance and has advanced degrees from the Wharton School and the University of Pennsylvania. He has been a senior partner in an international business consulting firm.

Keith K. Hilbig (a member of the Second Quorum of the Seventy since May 2001, was named to the First Quorum of the Seventy), earned a Bachelor's degree from Princeton and a law degree from Duke. He pursued a career in law and after working a number of years as a trial attorney in Los Angeles, established his own law firm. In April of 1998 he became International Legal Counsel for the Church.

Craig A. Cardon earned a bachelor's degree at Arizona State University before completing a master's degree in public administration at Harvard. He has been involved in real estate development. An entrepreneur he built a family business, the Cardon Hiatt Companies where he is an owner/partner, which companies deal principally with real estate. He serves as board chairman for United Families International, an NGO based in Arizona with UN accreditation doing work worldwide. He is a board member of the Institute for American Values, a think tank based in New York City focused on national and international issues. He serves on the executive council of the International Center for Law and Religion Studies located at the J. Rueben Clark Law School at BYU. He also serves on the board of the Wood Foundation, a private foundation providing scholarships to college students.

Don R. Clarke earned an associate degree from Ricks College, a degree in business from BYU, and a master's degree in business administration from Washington State University. He held senior executive positions in several retailing companies. He is the former President of Lord and Taylor, and taught an upper level entrepreneurship class at Southern Virginia University, which is private institution which has adopted the BYU Honor Code. After earning his Master of Business Administration in Finance from Washington State University, Don Clake got his start as a senior financial analyst for Ford Motor Company. He later joined the famous Barr Department Store division of the May Department Store Company in 1977 and served in a number of executive positions. He was named Famous-Barr's Senior Vice President and Chief Financial Officer in 1982, and was appointed Executive Vice President in 1983. He became Vice Chairman of Venture Stores in 1983 and was named Chairman in 1984. Prior to serving as President of Lord and Taylor, Don served as Chairman and CEO of the Fortune 500 Company Caldor Corporation for 11 years.

Keith R. Edwards studied at the Church College of Hawaii, completed a degree in political science at BYU and earned a law degree from the University of Utah. He has been associated with several large law firms.

Stanley G. Ellis graduated from Harvard in government studies and earned a law degree at BYU. He is the chief executive officer of an insurance and financial services company.

Larry W. Gibbons earned a degree in history from Stanford and a medical degree from the University of Utah, as well as a master of public health degree from Harvard. He is a practicing physician and president of a medical clinic.

The information indicates to me that the LDS church: (1) will continue in its corporate minded administration; (2) is very focused on international financial and real estate development; (3) remains concerned with its legal actions (4) and has the ability (or need) to select its leaders from some of the most prestigious academic institutions in the world.

What does this information tell you?
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Following The Money In The Uk - Part 2
Friday, Apr 21, 2006, at 07:49 AM
Original Author(s): Darquestar
Topic: MORMON MONEY   -Link To MC Article-
Although it's only a few posts previous you may have navigated the long way round, so to view Part I just click here.

Last time i focussed on the workings of the main church organisation in the UK, The Church of Jesus Christ of Latter-day Saints (Great Britain) ; this post is about it's sister 'charity', The Church of Jesus Christ of Latter-day Saints (Welfare) Limited.

The objectives of the charity are to promote the religious and other charitable work of the church here in the UK and to relieve members of the church and others who are in conditions of need, hardship, sickness or distress. In order to do this the charity;
  1. Invests in farms which it rents out to its subsidiary companies; any profits are returned to the charity under covenant.
  2. Acquires land and builds purpose built meeting houses in which members can worship and receive instruction.
  3. Assists individuals suffering through hardship, sickness and distress as needed.
  4. Provides advice and guidance to church members on the church's worldwide welfare and humanitarian aid programmes.
From reading the 363s Annual Return that each company is required to submit it appears that LDS (Welfare) decided to free up some cash through issuing more shares. LDS (Welfare) previously had an Issued Share Capital of 100 Ordinary shares valued at £1 each, giving an aggregate nominal value of issued shares of £100. In 2004 they upped this considerably, increasing this to £10,000,000. All shares are held by the Corporation of the Presdiding Bishop. On 31st March 2005 the Presiding Bishop became the sole owner of the charity/company and 50 shares previously held by the Corporation of the President of the Church were transferred over. On 2nd June 2005 the company's status was changed to a private limited company.
(NB On closer examination it appears that LDS (Great Britain) also released a further £10m through issuing shares and was also transferred to the sole ownership of the Corporation of the Presiding Bishop)

Some more highlights include;

  • The Group (Welfare plus subsidiary companies) had a surplus of £147,000. Helped by a donation from it's sister charity LDS (Great Britain). This money went into the reserves, which now total £9,207,000.


  • 'Direct Charitable Expenditure' for the year was £7,243,000. This is all well and good until you learn what counts as 'charity'; £5,279,000 was 'construction' costs' (remember, one of the purposes of this charity is to build meeting houses for the church) £37k was depreciation, £663k was on 'physical facilities', £322k on 'operating costs' and £50k on 'professional fees' (probably the auditors from PwC) which left £892,000 for 'charitable contributions'.


  • 2004 was a tough year down on the farm. The trustees report that due to a wet harvest that prolonged the season there was a drop in both yield and quality, which hit profits. They indicate a 12% drop from the previous year. Yet in the accounts 'profits covenanted from farm activities' was £472,000 this year, compared with £855,000 last year. So profits might have fallen by 12% but what was passed on to the charity fell by nearly half.


  • Staff costs were high, accounting for £1,142,000 over the year. There is 1 employee earning between £60-70k and 2 earning between £50-60k.


  • As with LDS (Great Britain) there is an outstanding loan to the boys in Salt Lake, the amount outstanding on this one is £52,077,000. It appears on the accounts but there is no interest charge and no fixed repayment conditions.


  • The last 2 pages of the submission don't seem to have been posted on the charity commission's website, i have emailed them requesting them as this generally provides a neat summary of the year.


Taking into account all of the income and expenditure of the church in the UK i have managed to make the following calculations;



  • The church (GB) received £23,488,000 in 'unrestricted funds' (tithing) and £2,663,000 in 'restricted funds' (Fast, Humanitarian Aid, Missionary Support etc etc). Together with interest, profits from selling assets their total income was £27,077,000. LDS (Welfare) received £7,433,000 (£500k of which was from LDS (GB). Taking that into account the total amount of money, from all sources, coming in to the church in this country was £34,010,000. (NB The £5m from SLC i mentioned in the previous post wasn't a donation as such, but rather a cancelled loan re-payment. No actual money changed hands)


  • Money that was made available to those in need by way of 'grants', 'humanitatian aid' and 'charitable contributions' by both organisations was £1,077,000. (NB I have not included the £500k transfer from one to the other, even though LDS (GB) counted this as a charitable donation, as i included it in the above calculation).



  • The cost of staff, travel, admin, supplies, equipment, auditing, money lost exchanging currencies, physical facilities and operating costs came to £15,507,000. That doesn't include building new meeting houses, depreciation etc.


  • In other words the church spent 14 times more money administering itself than it spent on the 'needy'; or calculated another way the church spent a little over 3% of it's incoming money on the needy.


  • Fast Offering and Humanitarian Aid Fund contributions came to £1,571,000, so even if we calculate that money church members donated specifically for the needy, the church only spent 70% of that on what the members had in mind when they donated it.

This is interesting because every now and then there is talk in church of maybe supporting a charity involved in the developing world, or that specifically helps the homeless or whoever. There is always someone who sticks their hand up and cautions that alot of these charities spend money on their overheads, but you know that if you donate through the church that every single penny will find it's way through to those in need.

I think this has demonstrated that assertion to be unsupported by the evidence.

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The Malls Of Mormonism And Other Expensive Building Projects
Monday, Apr 24, 2006, at 09:41 AM
Original Author(s): Surviving In Utah
Topic: MORMON MONEY   -Link To MC Article-
I was in a planning meeting with support contractors to the Mormon church. In it a list of projects and projected costs were discussed. So how are the sacred moneys of Mormon Jebus being spent.

ZCMI and Crossroads Mall - Current Budget Price $5.2 billion dollars and rising. Damn Satan and his control over the water that caused hurricane Katrina!!!!!

New Planters for the Penis tower (COB) $4.5 Million dollars. It seems the cast concrete with quartz encrusted rocks are "deteriorating" and Gordy wants Granite ones.

Renovations to the Conference Center Roof System - $18.5 Million. The superstructure cannot hold the weight of the water, soil and other items on the roof. While it is not in danger of total collapse, sections are becoming a concern and have to be addressed.

Other projects - $278.5 million. Mind you these are not ecclesiastical facilities but commercial and administrative buildings.
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The Mormon Church As A Non-Profit Corporation
Thursday, Jun 8, 2006, at 07:43 AM
Original Author(s): Nao Crer
Topic: MORMON MONEY   -Link To MC Article-
I am not an attorney but I am a CPA and am familiar with nonprofits. I have organized several, sat on boards and managed nonprofits.

The Corporation of the President of the Church of Jesus Christ of Latter Day Saints is a Corporate Sole with succession being the subsequent next President. That means he is the sole shareholder and owner of all businesses and holdings. Any legally required reporting would be to the President of the Church. Other than taxes, there is no legal obligation for reporting, other than to the owners. At this time, GBH is the sole owner. The Morg is tax exempt, so other than an annual information return, nothing is required. Most churches are C Corp nonprofits with Boards of Directors. The boards require financial reporting and often make these reports public.

A 501(c)(3) can have a captive or interlocking 501(c)(4) organization established as a "Social Welfare" organization and can fund political activism through the associated company. Lobbying falls under the general broad category of 501(c)(4) Social Welfare organizations. The Mormon church can fund people like the "More Good Foundation" (a Mormon Social Welfare company) to actively fight for the amendment without jeopardizing their status. Reading the letter and encouraging members to write would not be considered a significant amount of their resources. The 501(c)(4) can actively promote a candidate or position.

A 501(c)(3) can also own for profit corporations who have even fewer restrictions.
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One More Multi-Million-Dollar Temple For Less Than 6,000 "Temple-Worthy" British Columbians: Analysis
Wednesday, Jun 14, 2006, at 08:33 AM
Original Author(s): Freeatlast
Topic: MORMON MONEY   -Link To MC Article-
The LDS Church recently announced that it will build a temple in the metro area where I live (Vancouver, BC, Canada). The press release (ref. http://www.lds.org/newsroom/showrelea...) states that there are 172,000 church members in Canada. Assuming that 50% are ‘active’, 20% are children age 12 or younger, and 60% of the remaining group are youth and adults who are ‘temple worthy’, that means that approx. 41,000 Canadian Mormons will be attending the seven temples (including the one in metro Vancouver). That’s less than 6,000 members using each of the seven multi-million dollar buildings. The annual cost of lighting, cleaning, heating, air-conditioning, landscaping, and otherwise maintaining each temple must be many thousands of dollars. BTW, the Seattle temple is only half-day's drive from Vancouver. Members from this area routinely go and come back in 1-2 days.

While on the subject of expensive church buildings, in November 2002 I visited the LDS Conference Center during a visit to SLC. A tour guide, a retired medical professional, took me through the Center. He pointed out the large alabaster light coverings, pear wood panelling, super-sophisticated sound system and broadcasting equipment, massive I-beam in the ceiling that had been forged in Europe and shipped to the U.S., high-end carpeting, and other expensive elements of the building. I asked him how much it cost to build; he wouldn’t say. I then told him that I’d heard about $400 million, an amount he would neither confirm nor deny. I know that if I’d been a tithe-paying member, the response would’ve been the same. For generations, the church’s patriarchal leadership has concealed from members financial details of how it uses their tithing and other ‘contributions’. Their ‘you-don’t-need-to-know’ attitude and the church’s lack of financial transparency was one of the many reasons why I left Mormonism.

As the tour guide and I walked past large paintings depicting Book of Mormon stories, he told me about Lehi and his family sailing to the ancient Americas from Israel, the Nephite and Lamanite civilizations that spread across the Americas, native Americans descending from the Lamanites, the Brother of Jared and his lighted, submarine vessels, and other BoM stories. As we departed the area where the paintings are located, he took his gaze off of me, got a puzzled look on his face, and speaking to no one, really, he said, “If I wasn’t raised in the church, I wouldn’t believe these things.” I’d told him at the beginning of the tour that I wasn’t a member; his words were extremely revealing. Little did he know that I’d been raised in Mormonism from early childhood, went on a mission, left the church a decade before, and had studied the effects of LDS religious indoctrination and Mormon psychological conditioning extensively since 1992.

The Oct. 18/05 issue of Commercial Property News reported that the LDS Church was (is) spending US$1.5 billion to “redevelop 20 acres of Downtown Salt Lake City, focusing on more than 1 million square feet of retail, as well as housing and office [space].” (ref. http://www.cpnonline.com/cpn/article_...). In 2004, the church bought the second largest ranch in Nebraska, and in 2003, 663 acres in Hawaii, with plans to build a 200-room hotel and residential subdivision on the north side of Oahu. Visitors to the church's Polynesian Cultural Center (it's not free to get in) will be able to direct even more funds to the church by staying at the hotel. As well, a couple of years ago, I read a news report that the church was the second largest private landowner in the U.K.

The Aug. 4/97 issue of Time estimated that the church’s total wealth was US$30 billion (ref. http://lds-mormon.com/time.shtml). The reported membership that year was 10,070,524. For 2005, it was 12,560,869, a 24.7% increase in nine years. Assuming the percentage of tithe-paying members has remained the same since 1997, and the church’s real estate and other investments have appreciated at an average of 5% per year, it’s no stretch of the imagination to put the church’s total wealth at approx. US$45 billion. In “Mormon Hierarchy: Origins of Power” (by former BYU Professor of History, Dr. D. Michael Quinn and published in Dec./94), the listed assets of the church included 48 banks, 34 lumber companies, 60 newspapers and magazines, 55 mining firms, 55 railroads, 9 hotels, a $16 Billion insurance company, and a chain of radio and TV stations.

In May 2005, President Gordon B. Hinckley told church members, “In the last 10 years we have supplied in cash and commodities hundreds of millions of dollars in humanitarian aid to those not of our faith.” $200,000,000 is technically "hundreds of millions", as is $999,999,999. According to a post on xxx another xxx website xxx, as of Nov./04, total church donations for humanitarian aid since 1985 totalled US$450 million.

In the U.K., the church is required by law to submit financial reports each year (which the public can view at http://www.charity-commission.gov.uk/). Here’s a summary of data for a recent year (2003):

Total funds received: £31,788,000
Total expenditures: £28,678,000
Net surplus for 2003: £3,110,000
Total of church accounts at year end: £18,849,000

Expenditure totals for the year from the report:

Physical Facilities: £8,162,000
Equipment: £687,000
Units Costs: £626,000
Fast Offering Fund: £500,000
Materials and Supplies: £246,000
Humanitarian Aid Fund: £193,000
Perpetual Education Fund: £101,000
Temple Construction Fund: £45,000

Total Net Book Value of Church Lands and Buildings: £216,474,000

The LDS Church (U.K.) spent 1.57% of its 2003 income on fast offering, 0.61% on humanitarian aid, and 0.32% on assisting people with their education. In total, the LDS Church (U.K.) spent only 1/40th of its 2003 income on helping people in need. The church’s income surplus for 2003 was nearly four times what it spent on fast offering/church welfare, humanitarian aid, and the perpetual education fund. The total of the church’s accounts as of Dec. 31/03 was nearly 25 times more than what it spent on helping financially-disadvantaged individuals and people requiring humanitarian assistance.

Every year, about one quarter of a million children around the globe lose their vision due to a deficiency of certain vitamins in their diet. The cost of an appropriate vitamin supplement to prevent premature blindness is $0.05/day (when purchased in bulk), or $220/child (to age 12). A donation of less than 1% of the LDS Church’s annual income could save tens of thousands of children from losing their vision prematurely.

Every year, about 35,000 people (non-combatants) around the world are killed or seriously injured by landmines. Since 1988, the HALO Trust, a British charitable organization (ref. http://www.halotrust.org/), has cleared more than 5 million of the estimated 70 million landmines buried in 90 countries. It’s annual budget is US$45 million. A donation of 3% of the sum that the LDS Church is spending on the SLC redevelopment to the HALO Trust could double its life- and limb-saving work.

Clearly, building a multi-million dollar temple in the Vancouver metro area is more important to the LDS Church's senior priesthood leadership than spending more money to relieve human suffering and save lives. Such is the 'spiritual' enlightenment of the men who run/manage the 'one, true church of Jesus Christ'.
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Who Said Religion Didn't Pay? Your Tithe, Fast Offer, And "Other", Probably Helped A Lot!
Monday, Sep 11, 2006, at 08:02 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
Some of you may know about this, some may not.

You all possibly have no idea, but I suspect some who lurk most certainly do.

http://www.usdoj.gov/atr/public/press...

http://www.prnewswire.com/cgi-bin/sto...

The church is listed under NASDAQ as "Zion".

http://www.zsc.com/aboutzsc.asp

The church also loves land and owns not just land, ranches, but the church has many records of "residential" properties that it owns and has sold.

They own properties listed on public records as "subdivisions", homes listed as residential homes reasonably priced, for those "little people", also in the upper scale prices and over a million dollars, assessment value.

The church really, really likes Hawaii, along with California, Nevada, Utah, Colorado, and Arizona, but are not limited to those places, with their real estate and tax division based in Salt Lake.

Their individually LDS corporations named are so great, we lost count. We stopped counting at one point. It seemed like an endless sea.

Stake centers are individually named corporations. The church has businesses listed as "active" going back as far as 1920.

Zions Bancorporation and Pioneer Bancorporation Announce Merger Agreement:

http://www.prnewswire.com/cgi-bin/sto...

The LDS church is also connected directly to a huge, wealthy, corporate business that mixes religion with business, but extremely carefully riding that fine line with the higher leadership woven carefully into the best of both words; business and religious. It is a very sharp set up. It has a great deal of power behind it as well.

I would imagine church leaders in HQ hate public records and the Freedom on Information Act, to start with.

The LDS church HQ is a massive BILLION dollar religion that also is tied up into a massive corporation, muddled one between the other. The money they spend is by no means only for church buildings or temples.

It is a huge corporation with hundreds and hundreds, possibly into the thousands, of "corporations" within it.

They are listed as "debtor" on various business adventures, here and there, small time things compared to what all they have going on.

Make no mistake anyone, HQ are powerful, connected BUSINESS MEN. It is all about business, money, and POWER riding on the shirt tales of "the one true church". They are also very much involved in politics.

It is up the people, to be their watch dogs, which they hate and feel threatened by. They want to stay below the radar. They want to do all they can to make sure the word "God" stays more known for their PR then the word "money".
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Mormons Believe In Self-Reliance, Unless You're A General Authority On Farm Welfare
Friday, Sep 29, 2006, at 11:22 AM
Original Author(s): Mujun
Topic: MORMON MONEY   -Link To MC Article-
I remember sitting in sacrament meeting once when I was about nine or ten, and hearing a high council speaker say that no member of the church should ever be on government welfare. He said that the church takes care of its own, and that any member who was in need should approach his bishop, not the government.

A few years later, we had a local county commissioner who publicly bragged that he would tell people, "Go see your bishop," when they requested assistance from the county.

Self-reliance seems to be a common theme in Mormonism, and any kind of government social program that gives anything to poor people is viewed with disdain.

Government social programs that benefit the not-so-poor, however, are another matter entirely. If you're acquainted with any Mormon farmers, here's a website that you may enjoy exploring:

http://www.ewg.org/farm/index.php?key...

You can look up all of the USDA farm subsidies that have been paid out over a ten-year period. If people on food stamps are sucking on the government teat, some of these farmers are hooked up to a government IV.

Consider the case of D. Rex Gerratt, a member of the Second Quorum of the Seventy. You can find his official church biography here:

http://deseretnews.com/confer/leaders...

You have to look elsewhere to find out how Rex (or should I call him "D"?) really feels about self-reliance. The following page shows that Rex owns 31% of Ida Gold Farms:

http://www.ewg.org/farm/persondetail....

You'll notice that Larry Gerratt also owns 31%. Larry is Rex's brother, and is a stake president. This page shows you how much Ida Gold Farms received in farm welfare over a ten-year period from 1995 to 2004.

http://www.ewg.org/farm/persondetail....

So, Rex Gerratt the general authority got 31% of $1.9 million and change. Ditto for his brother, Larry Gerratt the stake president. You do the math.

If you look at the top recipients in counties in Utah, Southern Idaho, Western Wyoming and other areas with a large Mormon population, you'll find a lot of prominent Mormons on the list.

Unfortunately, the database doesn't include any information on whether they pay tithing on their subsidies.
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LDS Church (Great Britain) Financial Statement For 2005
Monday, Nov 13, 2006, at 06:26 AM
Original Author(s): Bean Counter
Topic: MORMON MONEY   -Link To MC Article-
Highlights (all figures in British pounds):

Total value of tangible assets: 253,900,000

"The directors do not recommend the payment of a dividend, which leaves a surplus of 27,463,000 to be retained."

2005 surplus income: 17,232,000
Total charitable contributions for 2005: 641,000

Total charitable contributions as a percentage of 2005 surplus income: 3.72%
Total charitable contributions as a percentage of the retained surplus: 2.33%

Stakes: 46
Districts: 1
Wards: 284
Branches: 81
Meetinghouses owned by the church: 289
Meetinghouses under construction as of Dec. 31/05: 6
Church employees in a "teaching function": 22
Church employees in "office administration": 190
Building cleaners: 255
Wages and salaries: 6,941,000
Average wage/salary: 14,863

Contributions to church funds by members:
Fast Offering Fund: 3,102,000
Missionary Support Fund: 2,001,000
Book of Mormon Fund: 44,000
Temple Construction Fund: 62,000
Humanitarian Aid Fund: 675,000

Donation to CoJCoLDS (Great Britain) from The Corp. of the Presiding Bishop of CoJCoLDS: 16,698,000 ("11,698,000 was for the purpose of covering the pension deficit").

Ref. http://www.charity-commission.gov.uk/...
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Is There Financial Fraud Going On In The Church In The U.K.?
Tuesday, Nov 14, 2006, at 06:43 AM
Original Author(s): Bean Counter
Topic: MORMON MONEY   -Link To MC Article-
I reviewed the 2005, 2004, and 2003 financial statements of the LDS Church (Great Britain), which indicated the following number of "building cleaners" for each year:

2005: 255 http://www.charity-commission.gov.uk/...

2004: 235 http://www.charity-commission.gov.uk/...

2003: 249 http://www.charity-commission.gov.uk/...

2002 (reported in the 2003 report): 243

It certainly seems that the church in the U.K. has been reporting employees that either it doesn't have, or aren't employed in a building cleaning capacity (or perhaps a mix of both?). The odd thing is that the financial statements have been signed by the Director (LDS Church), who would be aware of the meetinghouse cleaning situation in the U.K. Pricewaterhouse Coopers LLP (Chartered Accountants and Registered Auditors) also signed the reports.

The no. of meetinghouses reported for 2005 was 289.

Are there 255 full- or part-time cleaners in the U.K. that supplement the cleaning work of the members? For a church that is very concerned about saving as much money as possible (e.g., keeping the heating down in chapels during colder months), but channels hundreds of millions of dollars into corporate real estate investments, I have a really hard time believing that the LDS Church in Great Britain employs 255 people just to help out the members/volunteer cleaners.

Who would stand to benefit from such a reporting 'error'? Is money being reported as an income expense (for the 255 cleaners), but used elsewhere in the church or siphoned off for some other purpose?
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Oh My Mormon God, Will Hinckley Ever Stop? Part 1
Friday, Jan 12, 2007, at 04:30 AM
Original Author(s): The Mighty Builder
Topic: MORMON MONEY   -Link To MC Article-
I just came from a meeting at our corporate headquarters where the subject of instruction was the current building projects and projected projects in Utah and SLC and how we (my company) are going to meet the needs.

Some interesting facts that came from the meeting.

1. The City Creek Center:

a. Our company estimates that the true cost will be $6 – $8 billion dollars. This is based on the following facts.

1. This is a fast tract project. The construction of one 22 story tower and two 18 story towers would normally take three to five years alone. Add in all the auxiliary buildings, infrastructure (sewer, waterlines, communication lines, etc. - oh yes and the mole people tunnels), street level improvements, etc. It costs a lot of money to keep a project like this on track for the short amount of construction time available. After all they are destroying two city blocks and replacing them new in 48 months (project end date to be 2011). As the presenter stated “Imagine if two city blocks in Manhattan were to be removed and replaced, oh that’s right, the “Freedom” towers and complex are. Could that be done in 48 months? NO WAY. The “Freedom” tower alone is projected to take six to eight years.“ (by the way, the Freedom tower is only one city block).

2. Competition from current construction projects for labor. Legacy Highway, Draper Temple, South Jordan Temple, TRAX expansion, Commuter Rail, Housing projects like Kennecott Day Break, Retail and Commercial construction to service the current construction projects etc., all have placed a demand on available man power and crafts. To compete with these projects the City Creek Center construction companies (Jacobson, Oakland and Big D) are going to have to pay premium wages and salaries. This means no more day labors at $5.25 per hour. Our company projects that a helper is going to be paid $14.50 per hour. Can you say Hurricane Katrina prices?

3. Competition from current construction projects for materials. To compete with the current projects the City Creek Center construction companies (Jacobson, Oakland and Big D) are going to have to pay premium prices for materials. Even with the Mormon church buying direct from the manufacturers, the materials will be more expensive as the delivery dates will cause the materials to be rush orders. The Mormon church is notorious for waiting until the last minute to purchase materials (maybe they think that construction supplies will be found on-site every morning like “manna” from heaven?). This fact of delayed buying caused the conference center costs to rise from the projected $315 million estimate to the final cost of $1.1 billion.

4. There currently is a shortage of qualified workers. Our company estimates that when started City Creek Center will demand an extra 25 000 to 35 000 workers. Our company estimates that mid project there will be over 100 000 construction workers needed. These individuals will have to come from out of state. (So, if you can swing a hammer and bend a nail, head to SLC, hell if you own a hammer come to SLC). Funny side note, unless they make construction of the City Creek Center a mission calling, the influx of workers are not going to be Mormon. So not only are they going to over pay for the workers, they will loose 10% more of their money.

5. The cost of just getting to “zero dirt” our company estimates will be between $450 - $650 million. This includes demolition of the current buildings, moving and relocating (breaking leases) tenants out of the current buildings, removing all current utilities and replacing with new that meet up to date requirements (seismic, materials, etc.).

One of the presenters expressed the biggest concern. FAST TRACK = FAST CRAP. What he means is that the City Creek Center will be built on 7 day cures for the concrete (7 days is the minimum allowed, whereas 28 day is the best cure), hastily constructed supports, minimum welds, and every other short cut that can be done to save time.

He pointed out that the Conference center was a fast track and it is already having major problems (leaking roof, panels falling off, interior wall are wet, etc.).

Yes kiddies, believe it or not, there is more. Part 2 is coming soon.
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Oh My Mormon God, Will Hinckley Ever Stop? Part 2
Tuesday, Jan 16, 2007, at 06:20 AM
Original Author(s): Infymus
Topic: MORMON MONEY   -Link To MC Article-
2. Salt Lake Valley Temples (Draper and South Jordan)

These are a fast track projects. The construction of the two temples has been accelerated. Reason – The Salt Lake City temple needs seismic up grades so the two new temples will be constructed on a fast track schedule (one and a half years). This means crappy construction, cost over-runs, construction delays, etc. I discussed in Part 1 of my posting. Probable cost of each temple Draper – $450 million, South Jordan $385 million.

3. Ensign Plaza South

The Mormon church is concerned about the blight that surrounds the Ogden temple. Therefore they are constructing a five story office tower named Ensign Plaza South. The project is under construction at this time. The cost is estimated at $75 – 125 million.

4. Church Office Building

As I discussed in another thread, the COB concrete facing is disintegrating because of rebar corrosion. The Mormon church plans on re-facing the BIG PENIS starting about 2008. An announcement will be made that the structure is aging, needs seismic up grades and in order to preserve the continuity of Temple Square a new faηade of Granite will be used to cover the steel framing. At this same time true seismic up grading (cross beam supports, shear planes, etc.) will be done. The costs will be between $350 – $750 million, depending on how much remodeling is done.

The COB was (as noted in Part 1) built on the cheap. Henry B. Moyle almost spent the Mormon church into bankruptcy with his building projects. Being the faithful that he was, Elder Moyle conveniently had a heart attack and died while on vacation so the Brethren didn’t have to excommunicate him. Faithful bastard.

5. Salt Lake City Temple

When conducting the seismic up grade to the Tabernacle, the Mormon church discovered several problems not found in the original evaluation of the structure. The renovation of the Tabernacle has become more involved and costlier. An investigation of the Salt Lake City Temple has revealed some of the same flaws. Because of this the structure has to be renovated for seismic and other requirements. Whereas the Tabernacle cost $175 million to renovate the estimates on the Temple is between $250 – 450 million.

Remember all these projects are to be completed by 2011. Total costs $10.1 billion. If you include the Conference center ($1.1 billion) the total spending in Utah not to include chapels and stake centers $11.2 billion dollars.

Yeah, they need my money for feeding the poor, nurturing the needy, housing the homeless, etc.

Question: What are the approximate square footages of the temples you note here? Having some understanding of the development/building market, I'm curious about just how off the charts they are in their unit costs. I am not in the Salt Lake market, but I do know that for example in a similarly sized western city that Class A office space builds for between $200-$250/SF. I mean even if you assume 100,000 SF for these temples that is absolutely astronomical in terms of cost. I also understand that they have some supporting on/off site infrastructure built in that number, but that doesn't come close to making up the difference. It is incredible what they are spending. Do you have any idea as to the profit margins that Oakland, Big-D, etc may be hitting on these projects? I know the reputation of the church for squeezing contractors down to the nats ass, with their leveraging power coming from being able to threaten not allowing them to bid future work.

Two sources:

1. Our past dealings with the Mormon church. The Conference center is my best example. Projected cost was $315 million. Actual cost $1.1 billion. These are hard numbers that came from an audit conducted by the church of all vendors, contractors and support companies to the project. For final payment if you did not complete the audit you were not paid. We lost $500,000.00 on one invoice because the Mormon church disputed our $1,000,000.00 invoice. We were told to accept the reduced price or we would never be allowed on a Mormon church project again.

2. Reasons for the increased costs:

Fast track - The Conference center was fast tracked. When you do this you work on Saturdays, Holidays, and if possible Sundays (except no one was allowed to work on Sunday except on "ox in the mire" items like concrete pours, etc.). We were paying people time and a half, double time and even in some cases triple time.

Design Build - The Conference center was a design build project that had several change orders done. These change orders included the removal of one wing of the building after it was completed.

Taxing of Supply Networks - Do you realize that the stone cladding required workers to be brought from Europe to get enough qualified people? The sub-contractors had to bring in support from out of state to meet the deadline set for the project. The stone was shipped all over the U.S. to get fabricated because the Idaho contractor could not keep up with the time table set. All this costs more money.

Fixed Deadline - A fixed deadline means more costs to meet the deadline.

Sub-Contractors - On a project this large there will be sub-contractors unbelievable. Each sub-contractor charges their own margin (profit) on the task. By having multiple sub-sub-sub-etc.-contractors these margins add up.

High Rise Costs - Construction costs increase for every 10 stories you add to a building. These costs increase by 20% for the first 10 stories and 30% for each additional 10 stories.

So yes, a high end building that is planned, designed, bid, supported should only cost $200 - $250 per square foot. BUT A DESIGN BUILD, FAST TRACKED, BALLS TO THE WALL, CHANGE ORDER INTENSIVE PROJECT CAN COST $2,000 TO $2,500 PER SQUARE FOOT.

WELCOME TO MORMON BUILDING.
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Mormon Church To Build 220 Room Hotel In Hawaii
Tuesday, Mar 6, 2007, at 07:45 AM
Original Author(s): Allison Schaefers
Topic: MORMON MONEY   -Link To MC Article-
From StarBulletin.COM:
The Mormon church is in discussions with Marriott International Inc. to operate a 220-room hotel it plans to replace the aging Laie Inn on Oahu's North Shore.

Hawaii Reserves Inc., which manages property in Laie affiliated with the Church of Jesus Christ of Latter-day Saints, is seeking permits to tear down the 48-room Laie Inn and build a new hotel adjacent to the Polynesian Cultural Center.

Eric Beaver, a spokesman for Hawaii Reserves, said the church hopes to break ground on the new 220-room facility during the first quarter of 2008. Completion is targeted for 2009.

In addition to the redevelopment of Laie Inn, HRI is also working on the creation of Malaekahana Mauka, a 650-unit affordable housing community, Beaver said.
http://starbulletin.com/2007/03/03/bu...
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Edelman PR Firm Is Just As Crooked As The Mormons
Wednesday, Apr 4, 2007, at 12:08 PM
Original Author(s): Aruba
Topic: MORMON MONEY   -Link To MC Article-
The TSCC uses the services of Edelman a PR firm. This is in an attempt to repair the damage that the truth does to the TSCC. Here is an interesting and revealing review of Edelman.
“Edelman specializes in helping industries with image problems; another important client is the American Petroleum Institutes, a Washington lobbying group that seeks to convince Americans that oil companies care about the environment and that their profits are reasonable. Edelman does its work by cultivating contacts among the country’s opinion elites, with whom it emphasizes the good news and spins the bad; by such tactics as establishing “Astroturf” groups, seemingly grass-roots organizations that are actually fronts for industry…”
The New Yorker, April 2, 2007, pg. 34.

So the sleazy Mormons reach out to the equally sleazy Edelman.
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Mormons Heighten Public Relations Efforts
Wednesday, Apr 11, 2007, at 09:19 AM
Original Author(s): Andrew Glass
Topic: MORMON MONEY   -Link To MC Article-
From The Politico:
Amid heightened scrutiny because of former Massachusetts governor Mitt Romney's White House bid, the Mormon church is raising its public relations profile, making moves that reflect deep concerns over widely held myths about the faith and internal anxiety over the need to convince outsiders that it will remain neutral as a Mormon runs in the 2008 contest.

In line with its recent restructuring, the church has ended a decade-long relationship with Edelman, the world's largest independent public relations firm, with 2,500 employees in 46 offices worldwide. Edelman won some distinction in 2002 when it helped the church navigate the Winter Olympics bidding scandal in Salt Lake City.

Otterson, in a phone interview from the church's Salt Lake City headquarters, said the church is interviewing other firms but declined to name them. Several Edelman staffers who would not talk on the record said the church sought to have increased autonomy in its media relations.
http://www.politico.com/news/stories/...
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Why Is The LDS Church In Business? Hinckley's Response - You Be The Judge
Thursday, Apr 19, 2007, at 08:35 AM
Original Author(s): Skeptical
Topic: MORMON MONEY   -Link To MC Article-
In the November 1999 Ensign, Gordon Hinckley, the President of the LDS Church, addressed various aspects of his religion in an article entitled “Why We Do Some of the Things We Do.”

In the article, Hinckley addresses the question of “Why is the Church in business?”

Hinckley states:
“We have a few business interests. Not many. Most of these were begun in very early days when the Church was the only organization that could provide the capital that was needed to start certain business interests designed to serve the people in this remote area. We have divested ourselves long since of some of these where it was felt there was no longer a need. Included in these divestitures, for instance, was the old Consolidated Wagon and Machine Company, which did well in the days of wagons and horse-drawn farm machinery. The company outlived its usefulness.

“The Church sold the banks which it once held. As good banking services developed in the community, there was no longer any need for Church-owned banks.”
So according to the Hinckley, the LDS Church has only a few business interests. A review of businesses owned by the LDS Church would reveal a much different conclusion. The Arizona Republic printed a detailed spreadsheet of the Church’s US corporations.

Agri-Northwest (Washington state), Applied Technology Group (SLC), Beehive Clothing (SLC), Beneficial Development Co. (SLC), Beneficial Life Insurance Co. (SLC), BLIC Agency (SLC), Bluestem Co. (Oklahoma), Bonneville Broadcasting System (SLC), Bonneville Entertainment (SLC), Bonneville Holding Co. (SLC), Bonneville International Corp. (SLC), Bonneville Media Communication (SLC), Brigham Young University (Provo, Utah), Brown and Co. (SLC), BYU-Hawaii (Laie, Oahu), Columbia Ridge Farms (Tri-Cities, Washington), Continental Western Life Insurance Co. (Des Moines, Iowa), Corporation of the President (SLC), Corporation of the Presiding Bishop (SLC), Cultural Centers Properties, Inc. (Oahu, Hawaii), Descal and Co. (California), Desco and Co. (Colorado), Deseret Book Co. (SLC), Deseret Farms (SLC), Deseret Farms of California, Deseret Grain ("nationwide"), Deseret Gymnasium (SLC), Deseret Industries (SLC and "national, similar to Goodwill Industries"), Deseret International Charities (SLC), Deseret Land and Livestock Co.(Utah and Wyoming), Deseret Management (SLC), Deseret Mutual Insurance Corp. (SLC), Deseret News Publishing Corp. (SLC), Deseret Ranches of Florida (Orlando), Deseret Ranches of Wyoming (Cody), Deseret Transportation (SLC), Deseret Trust (SLC), Deseret Trust of California (Los Angeles), Eagle Gate Apartments (SLC), Elberta Farms (Provo, Utah), Eleven Bar Ranch (Nephi, Utah), Farm Management Co. (SLC), Foreign Lands Corp. (SLC), Garrison Welfare Farm (Garrison, Utah), Genealogical Society of Utah (SLC), Grain Handling, Inc. (Washington state), Hotel Temple Square Corp. (SLC), Islands Foundation (Oahu, Hawaii), KAAM-AM (Dallas), KBIG-Radio (Los Angeles), KBYU-FM and KBYU-TV (Provo, Utah), Keystone Communications (SLC), KIRO-AM and KIRO-TV (Seattle), KMBZ-Radio (Kansas City), KMEO-Radio (Phoenix), KOIT-Radio (San Francisco), KRIC-Radio (Ricks, Idaho), KSEA-FM (Seattle), KSL-Radio and KSL-TV (SLC), K2H Farms, Inc. (Washington state), KZPS-FM (Dallas), Laie Resorts (Oahu, Hawaii), LDS Business College (SLC), LDS Foundation (SLC), LDS Social Services (SLC), LDS Social Services of Massachusetts, LDS Social Services of New York, LDS Social Services of Virginia, Mormon Temples (SLC), Magnolia Management Corp. (Orlando, Florida), Mormon Handicraft (SLC), Mortgage Loan Services (SLC), Nauvoo Restoration (Illinois), Newspaper Agency Corp. (SLC), Office Management of Utah (SLC), Pacific Heritage Life Insurance Co. (Portland, Oregon), Polynesian Cultural Center (Laie, Oahu, Hawaii), Promised Valley Playhouse (SLC), Property Reserve of Arizona, Proprietary Holding, Inc. (SLC), Ricks College (Rexburg, Idaho), Salt Lake Macaroni and Noodle Co., Shadow Mountain Press (SLC), Sooner Land and Livestock Co. (Oklahoma, Nebraska, and Kansas), Third Avenue Productions (Seattle), Utah Home Fire Insurance Co. (SLC), Video West Network (SLC), Western American Life Insurance Co. (SLC), WNSR-FM (New York City), WTMX-Radio (Chicago), ZCMI (SLC and national), Zion's Securities Corp (SLC).

(See Mormon Inc.: Finances and Faith: A Series About the Church of Jesus Christ of Latter-day Saints that Appeared in THE ARIZONA REPUBLIC, June 30-July 3, 1991 (Phoenix: Series Reprint, The Arizona Republic, 1991),

So who is telling the truth?
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Steeples
Monday, Apr 30, 2007, at 08:59 AM
Original Author(s): Iconoclast
Topic: MORMON MONEY   -Link To MC Article-
It was early in my term in the Bishopric when the edict came down to retro-actively adorn all the buildings with prefab steeples.

We were advised of this at a monthly Stake Priesthood Leadership meeting. Several in attendance questioned the point of doing this. I offered my opinion that the church had recently (at the time) had encountered a battle from the local neighborhood in Belmont Mass while applying for a variance to erect an oversize steeple. The neighborhood observed the fact that didn’t make use of steeple on their buildings anyway so why was it important to put a massive steeple on this particular building. The issue went to the supreme Court.

By the reaction of some of those in attendance you would have thought I had committed blasphemy as this was an inspired revelation to the prophet. I invited further hostility when I suggested that it certainly was not necessary on our relatively new building which had an attractive modern steeple mounted on a high brick pedestal.

At another meeting we were advised that the stake had allocated $28,000 for the new steeple. Some of us thought that this was an outrageous price and someone openly questioned which of the Apostles had offspring in the steeple making business. I didn’t help my status as a pariah when I suggested that I had some sympathy for our 90 year-old Prophet’s inspiration to use tithing funds erect phallic monuments.

The situation went down hill later on when the leaders embarrassingly admitted that they had, because of funding limits, only allocated half the necessary funds in the current year. The actual cost would total $56,000. They put the lid on dissent by angrily asserting that the Profit had spoken and none of us were worthy to question his revelation.

The Bishop was as pissed as I was and continued to make comments about the project while they had to bring in heavy equipment to dismantle the very substantial existing steeple. After it was done they had to call back construction crews several times to repair structural problems that resulted in leaks. They would never tell me what the final cost was.
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Church Can't Hide Its Worth
Thursday, Jul 12, 2007, at 08:30 AM
Original Author(s): Ashbel S. Green
Topic: MORMON MONEY   -Link To MC Article-
From The Oregonian:
Supreme Court - The LDS church loses a round in a fight to keep its finances secret on religious grounds.

Oregon's top court has rejected the Mormon church's bid to shield detailed financial information about its net worth -- a closely held secret for nearly half a century.

Despite the legal defeat, the Church of Jesus Christ of Latter-day Saints did not immediately release the financial information to lawyers for a Portland-area man who claims he was molested by a church "home teacher" in the late 1980s.

"The church is considering its position," said Stephen F. English, the LDS church's lead Portland attorney. "The church respects the rule of law but has profound constitutional concerns based on its constitutional right to protect the free expression of its religion."
http://www.oregonlive.com/news/oregon...
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Mormon Church Plans 650 Laie Homes
Friday, Oct 26, 2007, at 04:38 AM
Original Author(s): Star Bulletin
Topic: MORMON MONEY   -Link To MC Article-
From the Star Bulletin:
The acquisition of 227 acres of agricultural land adjacent to Laie will help an affiliate of the Mormon church develop affordable housing on Oahu's North Shore.

Hawaii Reserves Inc., the land management company of the Church of Jesus Christ of Latter-day Saints, yesterday bought the land for about $4 million from KRC Golf LLC, an affiliate of Turtle Bay Resort owner Oaktree Capital Management LP.

It plans to build up to 650 homes on the parcel and adjacent land.

An affiliate of the Mormon church has purchased 227 acres of agricultural land adjacent to Laie as part of a larger plan to develop up to 650 affordable homes on Oahu's North Shore.

Hawaii Reserves Inc., the land management company of the Church of Jesus Christ of Latter-day Saints, yesterday bought the parcel for about $4 million from KRC Golf LLC, an affiliate of Turtle Bay Resort owner Oaktree Capital Management L.P.
http://starbulletin.com/2007/10/16/bu...
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Hawaii Reserves Plans 220-Room Laie Hotel
Wednesday, Dec 12, 2007, at 07:25 AM
Original Author(s): Robbie Dingeman
Topic: MORMON MONEY   -Link To MC Article-
From the Honolulu Advertiser:
Officials from Marriott International Inc. say the company is close to signing an agreement to operate a new 220-room hotel planned for La'ie.

The new hotel, which is expected to be completed sometime in 2010, would replace the 48-room Lai'e Inn, which is controlled by Hawaii Reserves Inc., the land management arm of The Church of Jesus Christ of Latter-day Saints.

The original $30 million cost estimate given when the hotel plan was first proposed in 2004 is outdated.
http://www.honoluluadvertiser.com/app...
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The LDS Church (UK) Had Reserves Of 257,307,000 Pounds In 2006 And Gave Just 1,264,000 Pounds To Help "The Poor And Needy"
Monday, Apr 28, 2008, at 08:16 AM
Original Author(s): Cdnxmo
Topic: MORMON MONEY   -Link To MC Article-
Based on the figures in the church's financial statement for 2006 (ref. http://www.charity-commission.gov.uk/...), the LDS Church's "Total resources expended" for 2006 was £28,373,000.

The published value for the church's "Total assets" in the U.K. for the year ending on Dec. 31/06 was £321,359,000 (approx. US$606 million).

The LDS Church (U.K.) spent £705,000 on "Youth conferences" in 2006 and £1,264,000 "for the relief of the poor and needy not only in the United Kingdom and Ireland but also other countries in Europe and Africa."

In 2006, members donated £1,455,000 to the "Fast Offering fund" and £366,000 to the "Humanitarian Aid fund".

The church's senior patriarchal leadership decided to spent only 69.4% of the funds donated by Latter-day Saints in 2006 "for the relief of the poor and needy". The total population of the U.K., Ireland, the rest of Europe and Africa is more than 1.6 billion.

"One out of five Europeans - 93 million people - lives under the poverty line." (ref. http://www.ruralpovertyportal.org/eng...)

"In Sub-Saharan Africa, more than 218 million people live in extreme poverty. Among them are rural poor people in Eastern and Southern Africa, an area that has one of the world's highest concentrations of poor people. The incidence of poverty in Sub-Saharan Africa is increasing faster than the population." (ref. http://sociolingo.wordpress.com/2008/...)

In summary, in 2006 the LDS Church (U.K.) spent less than one-half of one British pence on each impoverished person in Europe and Africa. However, according to its published financial statement for the year, "Closing total shareholders' funds" were £271,786,000 (approx. US$513 million).

According to Matthew 6:19-21 in the New Testament, Jesus preached the following in his Sermon on the Mount:

"Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:

For where your treasure is, there will your heart be also."

Clearly, the "heart" of the LDS Church continues to be focused on wealth-accumulation, not alleviating suffering, which is something that Jesus (the man described in stories in the New Testament) was greatly concerned with. Such is the 'spiritual enlightenment' of the 'prophets' who run the multi-billion-dollar, shopping-mall-and-condo-constructing, religious-corporate empire based in SLC.
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Perpetual Education Fund
Friday, Jun 6, 2008, at 07:27 AM
Original Author(s): Jinxidoru
Topic: MORMON MONEY   -Link To MC Article-
I was on my mission when the Perpetual Education Fund (PEF) was announced. It is basically a micro-finance system run by the church to help members (especially RMs) pay for an education through small loans. I was very excited about the program when I heard it explained in conference. I was serving a mission in Argentina at the time, so I knew that I had companions who would benefit from this. I really do believe that education is the solution to most of the world's poverty problems.

Over the years, I have donated thousands of dollars to this fund. For a while, I decided to donate the same amount of money I would pay in tithing to the PEF. I may regret all of the tithing I have paid, but, until recently, I have not regretted the PEF funds I have donated.

Well, I was speaking with my parents the other day. They are leaving on a PEF mission. So they recently received training on the program. I was very disturbed by something that was explained to me regarding dispersion of the funds. Rather than use all of the money received each year to aid people, they place the money in various investments. They then use only the interest.

For instance, let's say I donate $1,000. Rather than use that $1,000 to finance a loan for someone to go to school, they invest the money. Then after a year, maybe they've made 6% on the money. They then take that 6% or $60 and use it to help someone go to school. That, of course, is assuming that they make money back on their investments. In a recession (like now) the return is a lot less (as anyone with a 401k is probably all too aware of right now).

My parents were quite surprised to see how frustrated this made me. They tried to explain how this was a good way of doing things, so I finally whipped up an Excel spreadsheet and showed how this was a terrible idea from a perspective of aiding people. From a perspective of generating a great investment portfolio for the church, it's a great plan.

I wish there was some way I could depend the money back and give it to an organization that will actually use it properly.
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More Mormon Waste
Thursday, Jun 19, 2008, at 08:27 AM
Original Author(s): Byu Alum
Topic: MORMON MONEY   -Link To MC Article-
I work for a public agency that builds long linear projects in Central California. After environmental reviews have been completed, I frequently must invoke eminent domain (public taking of private land) to achieve project construction. On several projects I have had to cross Mormon Church owned properties. I am talking about thousands of acres of church owned farms here – not a simple church building. Yes, it turns out that the Morg owns vast squares of land here in the San Joaquin Valley.

The local people running the farms are all LDS recommend holders (a condition of employment). They are pleasant enough to talk with, especially when I tell them I am a BYU alumnus. I make a comment that the Church must be doing well with all this land and food processing of corn, wheat, etc. They reply that their farming operation is a money sinkhole and runs red ink every year. Astonished I asked them how this could be. They said they fill their silos each year after harvest. The grain/corn then sits in the silo a full year until the next year’s crop is ready. The year old crop is then sold to create space in the silos for the new crop. The old crop is sold the same time every year, prices be damned. Economics 101 teaches us to sell high and buy low. The farming operation of the church does just the opposite. To sell a year old crop in a silo at harvest time is simply bad business. However, the suits in SLC have the mentality to store a year’s supply of food.

The gentleman I spoke with was getting a new assignment to run an even larger operation near Monterey. Turns out the church has a vast, even larger, agricultural operation near Monterey.

By the way, during the land acquisition process, I had to work directly with the real estate arm in SLC. The guy I worked with over the telephone was a complete dick. He refused the initial offer of just compensation, with no counter whatsoever. His words were that there was no way the church would agree to provide an easement. Not until I threatened eminent domain did he roll over. He had absolutely no negotiation tactics. Once I threatened eminent domain he accepted the first offer (a low ball appraisal). What an idiot.
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Mormon Church In Canada: 2007 Financial Information
Thursday, Nov 6, 2008, at 09:40 AM
Original Author(s): Adieu Lds
Topic: MORMON MONEY   -Link To MC Article-
nlike the United States all charities in Canada including the Mormon Church must file a Registered Charity Information Return that includes the following information about the charity:

contact information, including Web site address; a general account of the charity's activities; and financial information such as income and expenditures, assets, and liabilities.

The Registered Charity Information Return may give you an idea of how much of its resources it devotes to charitable activities. Returns are available online dating back to 2000.

The Mormon Church in Canada is BN/Registration Number:119223758RR0001

The information can be found at the following website:

http://www.cra-arc.gc.ca/ebci/haip/sr...

You can find any ward or branch by typing in the ward’s name at the following website:

http://www.cra-arc.gc.ca/ebci/haip/sr...

Example:

Type in “Latter” and “Calgary”, and all wards with Calgary will come up. For other wards type "Latter" and the name of the ward or branch. Some wards do not have "Latter" so just type in the ward name.

This is the first year in which compensation has been declared:

The Mormon Church in Canada had revenue of $ 159,507,000 however; they claim expenses of $185,647,000.

Total Assets: $622,663,000

Note: Compensation includes all forms of remuneration (e.g., salaries, fees, and honoraria) and benefits (e.g., personal use of a car or office space).

On average, how many permanent, full-time, compensated positions did the charity have in the fiscal period? 203

For the five highest compensated positions indicate the number of positions in each of the following annual compensation categories. Include only those positions that are permanent, full-time positions.

$1-$39,999
$40,000-$79,999
$80,000-$119,999 4
$119,999 and over 1

On average, how many part-time or part-year employees did the charity employ in the fiscal period? 366

What was the total expenditure on compensation for part-time or part-year employees in the fiscal period? $ 1,827,405

2007 Cash, bank accounts, and short-term investments $63,747,000
Capital assets (at cost or fair market value) $ 545,895,000
Other assets $ 13,021,000
Total assets $622,663,000
Accounts payable and accrued liabilities. $2,245,000
Amounts owing to non-arm's length parties $47,882,000
Other liabilities
Total liabilities $50,127,000

Revenue

Total eligible amount of tax-receipted gifts $2,399,856
Total amount received from other registered charities $142,437,144
Interest and investment income $7,517,000
Other revenue $7,153,000
Total revenue $ 159,507,000
Travel and vehicle $3,064,139
Office supplies and expenses $ 1,313,480
Salaries, wages, benefits, and honoraria $15,889,025
Donated and purchased supplies and assets expensed $74,665,633
Amortization of capitalized assets $24,392,208
Other expenditures $5,242,701
Total expenditures before gifts to qualified donees $124,567,187
Total charitable programs expenditures $124,565,610
Total management and administration expenditures $1,577
Total gifts to qualified donees, $61,079,813
Total expenditures $185,647,000
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Dubious Partner For The City Creek Center
Thursday, Jan 1, 2009, at 05:32 PM
Original Author(s): John Ward
Topic: MORMON MONEY   -Link To MC Article-
"The project's cost (of reportedly over US$2 billion, excluding the planned City Creek condominium tower) raises questions of whether this isn't a money laundering operation. For comparison, world's tallest completed building by roof the Shanghai World Financial Center's construction was valued at US$ 1.2 billion for 377,300 m2. The 818 m (2,684 ft) tall Burj Dubai project has an estimated cost of US$ 4 billion for 334,000 m2, against the 81,000 m2 of the mall (3 story high in most of it's elevation). Another comparison, The Time Warner Center in New York (where property values are considerably higher, than the Salt Lake downtown area) was estimated to have a market value of US$1.1 billion in 2006[7], for it's 260,000 m² (2.8 million ft²)."

http://en.wikipedia.org/wiki/City_Cre...

There is also reason for suspicion given the use of Taubman to assistant in the development of City Creek Center. The founding of Taubman (Alfred Taubman) has an unsavory reputation.

"A. Alfred Taubman, the former chairman of Sotheby's Holdings who has a personal fortune in excess of $500 million, was judged guilty of price-fixing today by a Manhattan federal court jury. That's the "who," "what," "where" and "when." The "why" resides somewhere in Taubman's own heart.

The eight-man-four-woman jury deliberated for less than two days on the case involving allegations of a price-fixing scheme between Sotheby's (nyse: BID - news - people ) and archrival Christie's. It decided that Taubman, 76, masterminded the plot along with his Christie's counterpart Sir Anthony Tennant to fix commissions in a way that cheated art sellers out of millions of dollars."

http://www.forbes.com/2001/12/05/1205...

Taubman has a history of illegal activities dating back for several decades:

"In 1975, Lindner's AFC allied with Detroit financier Max Fisher, formerly of the murderous Purple Gang; Detroit real estate developer Alfred Taubman (a Fisher associate); and Paul and Seymour Milstein, to grab a 50% controlling interest in the United Fruit Company. Drug Enforcement Administration officials had confirmed to the authors of EIR's bestselling book Dope, Inc.: Britain's Opium War Against America, that United Fruit was a major force in the Latin American cocaine trade–a business that skyrocketed following the Lindner-Fisher, et al. takeover.

The Lindner group's takeover of United Fruit was only made possible by the mysterious death of the company's chairman and largest stockholder, Eli Black, on Feb. 3, 1975. Black fell to his death from the 44th floor of the Pan Am Building in New York City, in what was officially declared a suicide.

At the same time that Lindner, Fisher et. al. were grabbling United Fruit, Lindner's AFC simultaneously allied with a group of other Lansky-linked entities to establish a formidable pool of interlocking companies that would collectively form the core of the junk-bond raiders. By 1977, Lindner owned:

40% of Saul Steinberg's Reliance Insurance Company. Steinberg had gotten his start as a business partner of Britain's Lord Jacob Rothschild and later had extensive dealings with Kenneth Bialkin, the longtime Chairman of the Anti-Defamation League and a top New York City lawyer representing many junk bond pirates and corporate raiders of the 1980s."

http://www.britanniaradio.co.uk/?q=no...

So...the Mormon Church is working with a real estate development company that is the brainchild of a convicted felon. From the above it is evident that this company also has a record of dealings with the illegal drug trade and the mafia. Speculative? Perhaps...but if your kid spent his time hanging out with a group of kids that sold drugs and robbed people what would you suspect?
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Update On General Authority Salary Just In
Monday, Mar 9, 2009, at 07:45 AM
Original Author(s): Cricket
Topic: MORMON MONEY   -Link To MC Article-
This just in at the GA Salary section of the Salamander. You decide what to make of it.

A former stake president of the old Lynnwood Stake of the Mormon Church, a Marcus Nash, who recently became a member of the First Quorum of the Seventy, explained to me at length, on one occasion, that general authorities of the LDS Church receive a percentage of their professional incomes as a salary (he used salary instead of stipend) on becoming general authorities. Before becoming a full-time GA, Nash was a partner in the Staffrd Frey law firm in Seattle, and the main defending litigator for the Church in all lawsuits arising against the Church from such torts as, for example, sexual abuse condoned by the LDS Church which, by the way, has cost the Mormon Church over 20 million dollars in judgments and settlements.

Nash was pulling down, before taxes, $130,000 per year as a law firm partner. So he entered his job as GA for the Mormon Church at approximately $70,000 per year. Another Mormon associate, a high priest in one of the wards, who I knew pretty well in the Lynnwood Stake, who had known Nash very well many years before I knew him, said that, as a Church leader, "he (Nash) didn't know how to handle money, that his wife handled all his finances." A non-Mormon who was very close to the Nash family stated that "Mrs. Nash wanted the Church calling for her husband much more that Marc did. Mrs. Nash had always wanted to be in the Church limelight, and the more the better."

There are presently about 230 full-time General authorities of the Mormon Church, each of whom receive at least $50,000 per year as salary for his work. In addition, all of the full-time Relief Society Presidency women receive salaries for their church work. The specific amounts are unknown to me. The notion that Mormon tithing money is not used to pay GA salaries is ludicrous. You see, Mormon finances are so corporately entwined that you can't really separate the corporation from the church. The Church financial structure is guardedly veiled and the systematic transfer of funds from corporate accounts to general tithing accounts, to fast offering accounts, to missionary accounts, to salary accounts is done in secrecy. The Church has a Mormon accountant representing an allegedly independent accounting firm stand-up in General Conference to state that "Church finances are in proper order." That's all that is ever said publicly about Church finances and a big mistake. No organization, person, or government entity has ever sued the Church for a detailed accounting of the way Church monies are used. This has allowed the Mormon Church to use its riches for less than honorable purposes, such as quickly calling a political issues moral issues and putting millions of dollars behind getting them defeated, such as the ratification of the Equal Rights Amendment. - 03/08/2009 - Suasponte

For more on salaries: http://www.salamandersociety.com/foye...
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Church Auditing Department
Monday, Apr 6, 2009, at 07:34 AM
Original Author(s): Chocmool
Topic: MORMON MONEY   -Link To MC Article-
I never thought I could be so bugged when I have been out and away from the church for the better part of three years. Unfortunately, conference always brings it out in me.

During conference, we have an unknown man get up and read a letter from the church auditing department. They tell us that this unknown department is independent from all other areas of the church. This mythical auditing department, populated (we are told) with capable and certified individuals, have access to all financial records of the church. (I find this hard to believe since the church hasn't been open with its finances for the better part of a century.) The auditing department has evaluated the finances of the church based on policies that are unknown, and procedures that any member of the church do not have access to.

Why are the church finances all fine and righteous? Because an unseen and unknown "department" of the church tells us so through a letter read in general conference!

Keep in mind that in recent years, the church has done a lot of back peddling, saying "not everything said over the pulpit is doctrine or true." So what is? Reminds me of the song, "Jesus loves me this I know, for the bible tells me so." It stretches credulity to imagine that the only historical record we have of Jesus should be the source of all knowledge. How do we know that Jesus exists? Well, the bible says so! How do we know he died for our sins? The bible says! How do we know the bible is true? Well, silly, the bible tells us it's true!

So, how do we know the church isn't spending BILLIONS of dollars on a MALL in downtown Salt Lake while faithful saints are paying their tithing and going without and suffering in this economic downturn? Well, silly, we know that the church is spending their money righteously because they say so! Well, then, I guess I was stupid to even ask.
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Mormons And The Courts
Monday, Jun 22, 2009, at 08:51 AM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
A few years ago I needed an attorney and was referred to a high profile law firm in Salt Lake City. I knew one of the firms attorney's through a professional association.

I was invited in for a meeting and immediately knew that this place was somehow different. I met with two attorneys who told me what a wonderful case I had and how they could do the case on contingency at no cost to me.

A few days later I received an engagement letter that required I cough up about $10,000 to get things going. When I questioned one of the attorneys about the fee, he denied ever offering me a contingency arrangement. I was stunned. He then got quite belligerent with me, which was quite weird.

I called another attorney friend and he confidently told me that this firm is very closely connected to TSCC and this helps them when their high-dollar, out of state clientele need a friendly place to try a case. The attorneys, judges, courts, etc. are all part of the same cozy club, TSCC. Part of the money the firm makes finds it's way back to TSCC, the client gets a favorable verdict, everyone is happy.

In another case, the Olympic bribery case, I thought it was quite odd how quickly and quietly the federal case went away due to "lack of evidence."

Perhaps I'm just looking for a conspiracy.
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Deseret Ranch Vs. State Of Florida
Monday, Aug 10, 2009, at 07:50 AM
Original Author(s): General In The Pre-Existence
Topic: MORMON MONEY   -Link To MC Article-
For anyone who may have missed it, about a month ago, the State of Florida expressed an interest in tapping into Deseret Ranch's lake (constructed with public funds) to ease the water troubles of nearby towns.

Deseret Ranch decided it would be happy to oblige....for millions of dollars in fees.

Believing things like water to be a public resource, St. Johns River Water Management District has filed a lawsuit against the ranch, and the morg brought out its legal team. It is expected to take up to 2 years to resolve the dispute, taking all the appeals into account.

Apparently their humanitarian aid doesn't extend to providing water to locals from government funded projects.

http://www.floridatoday.com/article/2...
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LD$, Inc.'s $62m Deal To Build Up To 20,000 Homes In Sarasota Springs, UT
Monday, Sep 21, 2009, at 08:02 AM
Original Author(s): Mikeut
Topic: MORMON MONEY   -Link To MC Article-
"In an emergency meeting on Friday, Saratoga Springs council members voted unanimously to purchase $62 million-worth of federal water for The Church of Jesus Christ of Latter-day Saints.

As part of the agreement, the city also agreed to annex nearly 3,000 acres of church farmland and will compel some smaller landowners to join the annexation. The water will allow the business arm of the church to develop its land, plus as much as several thousand more acres in the area, building up to 20,000 homes, nearly quadrupling the city's population.

The deal, which gives the church 10,000 acre-feet of water, is unusual on several fronts.

For starters, the $62 million must be paid in a single lump on July 1, 2019. In addition, beginning in 2020, the city must pay $3 million a year, in perpetuity, and that payment will rise over time to an unknown amount, and must be paid whether the city uses the water or not. Initially, the church will pay the annual fee as well, and as homes are developed, owners will take over those payments in the form of their water bill.

Both the annual payments and the lump-sum will be paid to the Central Utah Water Conservancy District for water being piped through Spanish Fork Canyon.

The city does not have the money.

"Once the city signs [the deal], we cannot change it or back out of it or anything, and we don't have $62 million," said city manager Ken Leetham.

A representative of the LDS Church who spoke in the meeting declined to verify his name or who he was representing when asked by the Daily Herald. The city confirmed his name as Roger Childs, and his employer as the development arm of the Corporation of the Presiding Bishopric of the LDS Church."

HOW is Sarasota Springs coming up with $62M to buy the water? From the same report:

"To get the money, the city is requiring the church to deposit $62 million in a Zions Bank account 12 months before the payment is due. In addition, in case for some reason the church does not come through with the money, the city required the church to put a $62 million trust deed on 2,800 acres the city will annex. The city would be able to sell that land to come up with the money, should the church fail to pay.

The city did not put out notices of the meeting until Thursday and never mentioned the $62 million on public notices. Rather, notices said only that the city would consider "the purchase of water rights." For what may be the largest financial deal in the city's history, not a single member of the public was present."

"As part of the deal, Saratoga Springs granted to the church the right to develop the equivalent of 20,000 residential units on land that has not even been zoned yet.

"What is the city going to get out of this?" Godfrey asked rhetorically. "I think we need to acknowledge candidly that we are committing to some significant density on this property even though it is not zoned. I think we need to enter into this contract with eyes wide open."

To make the issue more complex, city staff said that because the land has not been zoned, those "equivalent" residential units could actually be industrial, retail or high-density housing.

Until recently, the city has specifically turned down offers to purchase this water, saying that they wanted to work on their own system of culinary wells instead. But that all changed when the church approached the city about six months ago.

"They have several thousand acres they will develop in the future, and they wanted to take advantage of the discounted Central Utah Water product," said a staffer."

(ref. http://www.heraldextra.com/news/local...)

Meanwhile on the missionary front, members are still being 'encouraged' by church leaders to provide housing for mishies (at a small fraction of fair market rental value), which reduces LD$, Inc.'s costs at a time when the $2B SLC mall-and-condos project in SLC and the church's new, $35M hotel-in-Hawaii project move ahead.

The BBC reported three months ago that, according to UN's Food and Agriculture Organization, the no. of people who are going hungry has reached 1 billion (ref. http://news.bbc.co.uk/2/hi/europe/810...).

$62 million would feed about 15,000 people for a decade. Pres. and CEO Jesus Christ, however, apparently wants thousands of acres in UT to be developed as yet another commercial real estate venture of his 'one, true' church, LD$, Inc.
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LDS Inc. Using Slave Labor To Gobble Up Even More Water Rights
Tuesday, Sep 22, 2009, at 07:56 AM
Original Author(s): Bender
Topic: MORMON MONEY   -Link To MC Article-
Isn't buying up water rights part of the for profit arm of the church? But they're calling unpaid senior missionaries to do it. This is a pdf from lds.org showing current needs and openings for senior missionaries.

http://www.lds.org/csm/missionOpportunities.pdf

On page 6 was this opening:
"WATER RESOURCES SPECIALIST: Individuals or couples with an engineering and administrative background in water resources and water rights are needed to serve Natural Resources Section of the Real Estate Division in the Physical Facilities Department at the Church Office Building in Salt Lake City. The individuals will assist in protecting the Church’s water rights in Arizona, Idaho, Utah, and Washington, and the other eleven (11) western states. The spouse would perform clerical or office support items, unless also qualified on water-related topics. A minimum of 32 hours per week is expected; length of service is negotiable (generally 18–24 months). A technical background in water resource issues in any of the eleven (11) western states is required. A professional engineering license as a civil engineer or other engineering discipline is desirable, but not necessary."
It doesn't look like they're stopping in just Utah, Nevada, and Florida. The posting says 11 western states.

Naturally they assume that the male has the engineering degree.
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Another For Profit LDS Venture - The "Church" Owns 7% Of Florida
Tuesday, Sep 22, 2009, at 07:58 AM
Original Author(s): Profxm
Topic: MORMON MONEY   -Link To MC Article-
My brother-in-law came to visit last weekend. As science geeks, we tried to see a shuttle launch while he was here (the launch was canceled 11 minutes before liftoff because of weather – ugh!). On the way to watch the launch we stopped by Deseret Citrus and Cattle Ranch to see the Mormon Church’s ranching operations.

Alas, as former Mormons, we failed to consider that they wouldn’t offer tours on Sunday. But we stopped by the Visitor’s Center anyway and drove around a bit.

I knew from the Deseret Ranches’ website and this wikipedia page that the ranch was big, but actually driving around the ranch made me wonder just how big it is. So, I spent a good 10 hours or so trying to see if I could map out just how big the ranch is. After all that time, I realized it was simply too big for me to easily map out by myself. But, the research I did do provided me with some fascinating information.

First off, thanks to a corporation registration website in Florida, I was able to track the name changes of the holding companies for the ranch over the years, eventually finding the current name. It used to be Deseret Properties of Florida, Inc., Deseret Farms, Inc., Deseret Farms Inc., Deseret Ranches of Florida, Inc., Deseret Livestock Company, Deseret Properties of Florida, Inc., Deseret Ranches of Florida, Inc. (1), Deseret Ranches of Florida, Inc. (2), but it is now called Farmland Reserve, Inc.. Once I finally found the current holding company, I was able to visit the property tax appraisers’ websites for the three main counties where the ranch is located: Osceola, Orange, and Brevard. On those sites I found all the property listings of Farmland Reserve, Inc. Here’s a summary of what I found after I added them all up:

County Acres Value
Osceola 182,685.50 $763,252,812.00
Orange 64,843.57 $208,286,252.00
Brevard 41,559.66 $12,552,680.00
Hillsborough-FRI 3,952.94 $30,145,012.00
Total 293,041.67 $1,014,236,756.00


Yep, you’re eyes do not deceive you – LDS, Inc. has more than $1 billion in for-profit property in Florida. The acres convert to 457 square miles, or .7% of the State of Florida. I can’t say for certain, but my guess is that LDS, Inc. is the largest landholder in the state behind the government. For comparative purposes, Disney owns 25,000 acres (that’s all of their properties, not just Disney World), or about 1/12th of the land owned by the LDS, Inc. holding company.

To tally all of this information, I actually built a spreadsheet that you’re welcome to download and peruse. I also started drawing the land parcels in Google Earth, but once I realized just how many there were, I decided I just didn’t have the time. I did complete all the land in Orange County and started on the land in Osceola County. If you want to see the maps or, better yet, if you’d like to improve/complete the maps, you can download them here: Orange County, Osceola County. If you do download them and improve them, please send me a copy of the updated versions as I’d like to have them.

As I was searching through these listings, on a whim I decided to see if Farmland Reserve, Inc. owned any property in my county, Hillsborough, FL, which is all the way across the state from Osceola and Brevard Counties. Turns out they do (see above table). That’s in addition to the $12 million owned by “Church of Jesus Christ of Latter Day Saints Corporation”, which is the company that holds the churches. This makes me wonder just how much property Farmland Reserve Inc. owns. I checked a couple additional counties in Florida but didn’t find any more property.

One of the reasons I wanted to visit the ranch is because my aunt and uncle recently completed a mission there (I should have gone while they were there, but never made it). The amazing thing about the fact that they served a mission there is that they did zero proselytizing and they paid to serve their mission. So, what did they do? My uncle was a high school shop teacher. He knows how to build and repair homes. So, they put him to work building homes on the ranch. He’s round 70 years old and was working 12 hour days 6 days a week for 18 months. His wife ran some of the tours and did other odd jobs around the ranch. When I found out that my aunt and uncle were paying for the opportunity to work for Farmland Reserve, Inc., a billion dollar for profit company, I was not very happy. Not only did the LDS Church use tithing money to buy the ranch (I’m assuming, maybe it was profit from some other business venture), but now it makes people pay for the opportunity to make one of their subsidiaries money. How is that at all ethical?

To wit, the obvious question is: How does the billion dollar ranching operation of the LDS Church further its religious aims? Why does a religion need a billion dollar ranch? Anyone?

http://latterdaymainstreet.com/?p=694
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LDS "Parent Company" "Donated" £231,787,000 (US $433.4m) To LDS Church (UK) In 2006
Monday, Oct 12, 2009, at 07:56 AM
Original Author(s): Bean Counter
Topic: MORMON MONEY   -Link To MC Article-
To maintain an organization's charitable status in the UK, it has to file an annual Summary Information Return (SIR), which the LDS Church (aka LD$, Inc.) has done since 2003. Last year's will be out later this month.

If you're interested in seeing how much LD$, Inc. in Britain takes in and makes in terms of income and how much it spends, see the online summary for 2003 to 2007 at http://www.charity-commission.gov.uk/...

From the 2007 SIR (ref. http://www.charity-commission.gov.uk/...):

"Church membership continues to grow and, at 31 December 2007, stood at 186,126.

There were 1,593 baptisms in Great Britain and Ireland last year."

Church membership growth: less than 1%.

"There are 290 meetinghouses."

"There are two Temples in the UK."

Total expense for "Provision of worship facilities" in 2007: £20,458,000 (~US$38.3 million)

"What are your charity's main objectives for next year?

Provide more meetinghouses to satisfy growth in membership whether they are built and owned by the charity or rented properties.

Research will continue into whether using modular buildings is a more cost effective alternative.

Continue to supply religious materials to members and others.

Revised budgets have been put in place with the intention of increasing missionary activity and increasing the baptism of new members.

There are plans to:

- Introduce on-line reporting for Family History Centre activity. - Participate in three nation family history conferences - Establish six new family history centres each in Africa West and Africa South East Areas." (p. 5)

LD$, Inc. in the UK couldn't even make the effort to say SOMETHING in the main objectives section about reducing poverty, hunger, homelessness, child abuse, or some other negative reality that affected Britons.

However, the SIR did mention:

"The end of the year saw an excellent financial result based on strong financial management. Costs were maintained within budget." (p. 5)

Now, take a look at the SIR for 2006 (ref. http://www.charity-commission.gov.uk/...):

"How would you describe your charity's financial health at the end of the period [Dec. 31/06]?

The Charity does not undertake fundraising in the traditional sense. It relies on donations from its parent company in the USA and from donations of members of the Church in the UK.

The Charity's financial health remains excellent. The Parent Company donated £231,787,000 this year by way of a full cancellation of amounts due to it."

LD$, Inc. in SLC was apparently owed £231,787,000 by LD$, Inc. in Britain, so the former 'donated' the huge sum to the latter in order to cancel the debt.

Bear in mind that in 2006, LD$, Inc.'s shopping-mall-and-condos project in SLC had ballooned to $2B (from $500M in '03). Nevertheless, the church was still able to forgive a debt of more than $433 million.

If only ol' debt-ridden Joseph Smith could have foreseen how wealthy his church would become, he might have led a less problematic, reduced-drama life!
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The So Called Church And Real Estate In Japan
Monday, Jun 28, 2010, at 08:16 PM
Original Author(s): The Truth Hurts
Topic: MORMON MONEY   -Link To MC Article-
I know this is very long, but I have spent the last couple of months gathering information and putting together an article that sheds some light on the Morg’s activities outside of the states. As is the case with the City Creek Center, the purpose of this article is to show what TSCC’s leaders really care about - making money. Hopefully some of you are able to find this information useful.

***Mormonism and Great and Spacious Buildings***

For behold, ye do love money, and your substance, and your fine apparel, and the adorning of your churches, more than ye love the poor and the needy, the sick and the afflicted. The Book of Mormon, Mormon 8:37

One-hundred million dollars is a huge amount of money. It is also the amount that the LDS church rendered to humanitarian assistance during 2009. Using the 2008[1] and 2009[2] Welfare Services Fact Sheets from the church’s own website, Provident Living, one can take the differences in cash donations ($45.3 million) and material assistance ($51 million) provided to calculate a total of $96.3 million for the year. However, even $100 million pales in comparison to the amount of money that the church has spent on secular buildings over the past several years. The City Creek Center, a mall in downtown Salt Lake City, Utah, is costing the church well over $3 billion.[3] The Laie Inn in Hawaii is being demolished because the humble “members of the First Presidency have not stayed at the Laie Inn in the last 10 or 15 years because of the condition of the inn”[4]; it is being replaced with a 220-room Marriott that has cost the church more than $30 million.[5] The church recently purchased the vacant KJZZ studio building in Salt Lake City, which was estimated to cost around $6.6 million. It also bought 13 acres in downtown Salk Lake City from Sinclair Cos. for roughly $25 million. Perhaps the most interesting thing about these deals, aside from how much money is involved, is the fact that a church which claims that we are in the “latter days” is characterizing such purchases “as a long-term investment[s].”[6] Actions speak louder than words, which is painfully true in the case of the leaders of the Mormon faith who are now screaming retreat as they back away from their former apocalyptic worldview.

In the Book of Mormon, we read of a “great and spacious building” that “stood as it were high in the air, high above the earth,”[7] and which represented “the pride of the world.”[8] While all of the wicked flocked towards this immense structure, the righteous supposedly hung on to a rod of iron, which represented the word of god, and made their way towards the tree of life. Most LDS view themselves as the chosen people who cling to the word of their lord, and anyone who doesn’t share their faith as the multitudes in that great and spacious building - or at least as those lost in the mists between. However, with the construction of the City Creek Center, it makes one wonder how the Mormon church can condemn great and spacious buildings when they themselves are constructing the most expensive mall in the United States of America; the second-most-expensive mall is the $2.3-billion dollar “The Meadowlands” in East Rutherford, New Jersey.[9] The Mormon church has created many other great and spacious buildings preceding the City Creek Center, such as the $240-million[10] Conference Center, which “is believed to be the largest theater-style auditorium ever built.”[11] However, rather than focusing on these well-known Western structures, this article will take an in-depth look at some of the great and spacious buildings in Japan that have been constructed by the church, most of which have a history that is unknown to those outside of the country.

Perhaps the first of such buildings to be constructed in Japan was the Tokyo Temple, which is located in “an affluent area of Tokyo with neighboring foreign diplomatic missions and embassies.”[12] The church hired the Kajima Corporation to construct the building,[13] and boasts that “[a]ll materials used in the construction of the Tokyo Temple are of the top quality and only the latest in technology and equipment characterizes the building control system, air conditioning system, independent power plant, and so forth.”[14] The stained glass, screens, audio equipment, and most of the building’s carpet were imported from the United States; the crystal chandelier in the Celestial Room was crafted and imported from West Germany; and all of the furniture was made by special order in Japan.[15] Although the price of this structure has not been released by the church, we can compare it with the cost of other temples to get a good idea of how much it likely cost. The Tokyo Temple (52,590 square feet) is about 5 timesthe size of the Brisbane Australia and Suva Fiji temples, which each have an area of 10,700 square feet. [16,17] The Brisbane Australia Temple was completed in June of 2003 and cost $11.5 million at the time;[18] the Suva Fiji Temple was completed in June of 2000 and cost Fiji $10 million (about $5 million in the United States)[19] - these amounts are respectively equivalent to the buying power of $13.7 million and $6.4 million in the year 2010. The Washington D.C. Temple (160,000 square feet), which is about three times the size of the Tokyo Temple, cost $15 million and was completed in November of 1974.[20] This is equivalent to roughly $70 million in 2010. Because Japan has much stricter building laws than other countries, the same structure costs more to build in Japan than it would in the United States, Australia, or Fiji. Sunshine laws “which require a certain amount of compensation for any amount of sunlight which is lost due to the shadow cast by multi-story construction,”[21] earthquake-resistant structural requirements, and other such stipulations make a straight comparison of costs quite difficult. Even so, one can assume that the structure cost the equivalent of at least $30 million today.

In Mormonism, members are expected to pay tithing, or 10% of all earned income, to the church. “Faithful members of the Church pay their tithing to a member of their branch presidency or ward bishopric. Under the direction of the Lord’s prophet, these funds are then gathered and used to fund the growth and development of the Church throughout the world. Examples of the use of tithing funds are the construction of temples, the financing of the worldwide missionary effort, the building and maintenance of meetinghouses, and other worthy purposes.”[22] However, temples are not always built with just the tithing of their members. For example, in the case of the Washington D.C. Temple, members were asked to pay for $4 million - or about 27% - of the $15-million building; they ended up raising $6 million, which is 150% of what they were asked to pay and 40% of the structure’s total cost at the time.[23] In Japan, members reportedly raised 124% of the amount they had been asked to pay.[24] While the amount of the temple fund that members were asked to pay is unknown, if we assume 27% of the estimated $30 million (2010 value), the members would have been expected to cover $8.1 million. Because they ended up contributing 124% of this amount, they eventually donated around $10 million to the construction of the temple. This is money that the Japanese members paid in addition to the tithing that Mormons are expected to pay to the church. There are countless members from around the country that relinquished their entire savings to ensure the construction of the Tokyo Temple. Indeed, if one takes a look at the words of the Mormon prophet, Spencer W. Kimball, during the area conference when the temple was announced, they will understand why the Japanese members were willing to part with such large sums of money. On Saturday, August 9, 1975, Spencer W. Kimball made the following announcement from the pulpit at the Japan Area Conference:

“Brother Matthew Cowley, one of the Twelve Apostles, made a prediction that there would be temples in Asia and in Japan. And many of us have been almost holding our breath until the time could come when we could build a temple in this land. We, therefore, propose to you assembled here that we establish a temple in Tokyo, Japan, for all of Asia. Before we express our excitement and concerns regarding this proposal, we would like for you to first take a look at a conceptual rendition of the building. The Church already owns the land that is to be used for the construction of this temple.

The address is Tokyo-to Minato-ku Minami Azabu 5-8-10. The building plans have already been approved by the authorities in Tokyo. When this beautiful temple is completed, it will be used by members from Japan as well as those who come from other countries in Asia. In anticipation of the construction of the temple, we would like to ask the local Japanese members to provide a portion of the funds required to build it. We hope that you begin offering donations as soon as possible. The Church will bear most of the burden of the expenses associated with the construction of the temple. These expenses will be paid for by the tithing of sacrificing members from around the world. All those who support the construction of a temple in Japan and the related maintenance thereof, please show it by raising your right hand.

Thank you.

We would like for you to begin saving money for this purpose right away.

Until now, you have all used large sums of money to visit the Hawaii and Salt Lake Temples. If you were to use these funds for the construction of the Tokyo Temple, you should be able to save up a great deal of money.

President Brigham Young said that hundreds of temples would be built in the future. Currently, there are already 16 temples. Of course, we cannot build temples at every which location that people would like us to right now. In order to fill the temples with people and continue to operate them, a great number of members is necessary.

Even so, we extend a promise unto you that when the people are prepared, many temples will be granted unto them. There are currently about 62,000 members here in the region of Asia we are now visiting. We would like for you all to begin sending donations to your stake and mission presidents immediately, for which you will be given a receipt of your contribution.”[25]

On the next day, Kimball again compelled members to donate immediately to the temple funds. He also threatened the members that if they didn’t pay up, the temple might not be completed. Indeed, as will be discussed later in this article, the church would regularly refuse to dedicate chapels until the members had paid the construction funds that were demanded of them in addition to tithing. However, perhaps the most unnerving portion of Kimball’s remarks was his expectation that children should also make cash donations towards the construction of the temple. The following are two excerpts taken from Kimball’s talk.

“Yesterday we held a very important meeting with the stake and mission presidents where we all wept as we resolved to build the Lord’s temple.

When we left the Salt Lake Airport, newspaper reporters asked us, “Are you planning on announcing a new temple?” Without making any promises, I responded, “If you would like to know, ask the newspaper reporters.” We first wanted to have the members in Asia show their resolve. We were deeply impressed with the session held the day before last, for there were absolutely no signs of reluctance. Some brethren wanted to begin donating money for the construction of the temple immediately.”[26]

“Many people think that it would be wonderful if they could become an angel. However, if we are loyal, receive the temple ordinances, and live a completely worthy life, we can become more than just angels. Indeed, the angels will be our servants.

It is for this reason that a temple will soon be built. We want you to do all you can so that the temple construction isn’t delayed because of a lack of funds. As I mentioned yesterday, we want all the young children to be aware of their responsibility in assisting the construction of the temple, for it will be the temple they use when they grow older.

One of our family’s children is living in New York. The members of that area were asked to assist with the construction of the Washington Temple. When we visited their home, our grandchildren said, “We don’t get desert this week because we’re saving money for the temple.” In this manner, our grandchildren were already saving money for the temple they would attend in the future.

I believe that all children can donate several thousand yen for the temple they will attend in the future.”[27]

Sadly, the members of this time were expected to pay not only for the temples, but for their church buildings as well. Again, this was in addition to the tithing, fast offerings, and other expenses the Mormon church piled on them. Until April of 1982, members had to pay for 20% of their church buildings in order to have them dedicated; after that point, the amount was lowered to 2%, and then eventually these additional “construction funds” were eliminated entirely.[28] “At the time, chapels couldn’t be dedicated until the amount expected of the local members had been paid in full, even if the building was finished.”[29] For example, the members of one branch were told, “The remaining \1 million of the construction funds must be paid before the dedication.”[30] With the average chapel costing $3 million in today’s terms,[31] requiring a small ward or branch to come up with 20% of such funds was a huge burden. One member related the following story, which shows that the church was really pushing members for money.

“When the plans to build a chapel for the Nagoya Branch were announced, all of the members began trying their hardest to obtain the funds to construct it. However, shortly before all of this my husband had decided to start his own business so that he could keep the Sabbath day holy. He opened a bakery. We used all of the money we had to start this new business. We had been living off of my monthly earnings, but they were barely enough to scratch by. Accordingly, we were in no position to raise funds for the construction of a chapel. To top it all off, I became pregnant and realized that I wouldn’t be able to continue working much longer.

Although my husband’s business was starting to pick up, it wasn’t enough to live on, let alone to pay for the construction of the chapel or to begin saving up to have a child. Therefore, whenever I would get a bonus, I would save it in anticipation of any expenses that would arise when I gave birth. These savings were all the money we had at the time.

One afternoon, we received a call from the branch president. He said that they had gathered most of the funds to build the chapel, but they were still a little bit short. He asked if we wouldn’t pitch in. Again, all the money we had were the savings for when I gave birth. The two of us discussed the matter, and as a result my husband immediately went to the bank and withdrew all of our money. That night, we took the money over to the branch president. It was just enough to cover the small amount that the branch needed to build a new chapel.”[32]

This is just one of many examples of members who were pushed to pay by their ecclesiastic leaders. A former bishop during this era recounts, “One sister donated to the construction funds from the money she was saving for her marriage, despite the fact that she had only been a member for a few months. College and high school students gladly donated from their allowances. Another sister obtained the permission of her husband, who wasn’t a member, to donate a large sum of money.”[33] The average monthly salary of graduates fresh out of college in Japan around 1970 was a mere \38,000. Even so, Mormon chapels in Japan during this time were tens of millions of yen; the chapel for the Nagano Branch cost \40 million at the time, and the members had to pay 20%, or \8 million, of it.[34] The members of the Kurume Branch ended up paying \3.5 million towards the construction of their chapel.[35] The worst part is the fact that the members, who were sacrificing 10% of their incomes in tithing in addition to paying for 20%of their local buildings, were not getting much in return for their contributions. Indeed, most wards and branches had to “purchase old buildings and use them as they stood as chapels in accordance with the church’s construction policy.”[36] A deeper look into the church’s activity in the real estate market of this era will shed more light on the organization’s true colors.

In 1952, the church purchased a piece of property in Shibuya for $25,000, which it would spend an additional $75,000 to convert into a chapel. This facility became the chapel for the Tokyo First and Second Branches.[37] However, less than a decade later the church found an even more desirable plot of land nearby in Omotesando. For one, the Shibuya chapel was located right next to the Japan Racing Association, which is a place where people go to bet on horse races. Because this is a form of gambling, which Mormons believe to be wicked, church leaders wanted to move away from such an “unholy” site as soon as possible. Moreover, the Shibuya meetinghouse was quite old - so old that the members had begun calling it a “haunted mansion.”[38] The new piece of property that the church found was on the market for $670,000 (\241.2 million at the time), which was more than it was willing to spend. Nevertheless, the property in Shibuya that they had purchased for $25,000 in 1952 was now worth $500,000. Accordingly, they decided to sell that plot and pay the $170,000 difference to acquire the land in Omotesando. They made the purchase on June 3, 1960. Thirteen years later, another opportunity to make huge returns came knocking at the church’s front door. Because the price of land in the Tokyo area had been rapidly increasing during this era of remarkable economic growth, the Omotesando property was now worth over \6 billion. The church, which was not about to let this chance slip by, sold the property in November of 1973 for \6.4 billion, giving them a return of \6.388 billion on their investment.[39]

In spite of the enormous profit acquired from the sale of the Omotesando property, not to mention the fact that regular members were called to do volunteer labor as “architect missionaries” so that the church didn’t have to pay to hire actual contractors,[40] members were still expected to pay for 20% of their meetinghouses for another decade. What’s worse is that these members, who gave large portions of their incomes and savings to the church, were kept in the dark regarding the organization’s financial matters. The church still operates in this manner today, releasing no reports of how it is using its members’ money. An excellent example of such secrecy is the purchase of the aforementioned Omotesando meetinghouse in 1960. “Gordon B. Hinckley warned President Andrus that, ‘For the time being, under no circumstance should you talk to anyone about the price of this purchase, for it is more expensive than any purchase the church has ever made anywhere in the world.’”[41] This greatly resembles the way the Mormon church is handling the price of the City Creek Center that is currently being built; the church has been afraid to release the actual cost of the structure to its members, so it first announced it at a little over $1 billion, and is slowly raising that price. As previously mentioned, the cost of the mall has been reported to be over three times this original amount since then - and it is still rising.

LDS chapels have begun to show numerous changes over the past few years. These changes come as a result of the “Area Construction Standard Plan,” which was officially approved by LDS headquarters in March of 2004.[42] Although the church claims that these changes are being made to meet the “actual needs of the members,”[43] it is clear for anyone to see that Mormonism in Japan is failing to see the success that it did during previous decades, and therefore this new plan is just a another attempt to try and mainstream their organization with the rest of Christianity. The church is now using prominent architectural designs from famous European sites like Notre Dame and the Cathedrale Saint Jean - such as rose windows, pronounced bases, and arched entryways - as well as increasing the size of LDS chapels to compete with other religions which boast arsenal of great and spacious buildings.[44] The Matsudo Stake Center, for example, is an enormous 5-story, 28,432-square-foot structure that was completed in 2005.[45] This building is the largest chapel in the Northern Asia Area, and was the first structure to be built under the new Area Construction Standard Plan. It also became the new stake center for the Abiko Stake (which was renamed the “Matsudo Stake” with the completion of the Matsudo Stake Center), which had not had a building of stake-center size like the other stakes in Japan. Even so, it seems odd that a relatively small ward should get the biggest building in all of Northern Asia; this is hardly in line with the “actual needs of the members.” In fact, Matsudo Ward’s new chapel is more than five times the size of the meetinghouse it was previously using, which had a total floor area of 5,415 square feet.[46] Perhaps the decision was affected by the fact that the president of the Abiko/Matsudo Stake at the time, Nobuyuki Yoshimura, was also the church’s official Area Architect, but such details would be difficult if not impossible to obtain from the church. Something else that is noteworthy about the Matsudo Stake Center its location. Despite the fact that church leaders wanted to move away from the chapel in Shibuya several decades before due to it being next facility where gambling took place, they knowingly built the new chapel in Matsudo right next to a “pachinko,” which is a Japanese casino.[47]

It is painfully obvious that Mormonism in Japan is no longer able to get investigators to come to church with their “restored gospel” alone, and thus they have resorted to constructing “great and spacious buildings” to get the public’s attention. The Church News quotes the bishop of the Oita Ward, another area where one of such buildings has been constructed, claiming that “meetinghouses are better than 100 missionaries.”[48] It includes the comments of many other members as well, who say that they are now able to talk about Mormonism thanks to the new big building. This is not a good sign for the LDS church, which is already struggling to find ways to keep its current members actively attending sacrament meeting and other functions. While bigger and better buildings may seem nice at first, they are not going to resolve the real issues that are driving members away. On the contrary, the church just announced in 2010 that it is no longer going to hire custodians to clean its chapels; it is shifting such responsibilities to the members, who already have other assigned church responsibilities that they are expected to fulfill. It will be interesting to see how much members around the globe are willing to put up with before they toss in the towel, especially as their workload increases as the church builds larger chapels.

References:

(1) 2008 Welfare Services Fact Sheet, Provident Living
(2) 2009 Welfare Services Fact Sheet, Provident Living
(3) “Salt Lake City high rise is ready for occupancy on Main,” Laura Hancock, Deseret News, November 3, 2009
(4) “Laie Inn closing for new hotel,” Steve Fidel, Deseret News, November 5, 2009
(5) “Hawaii Reserves plans 220-room Laie hotel,” eTurboNews, December 10, 2007
(6) “LDS Church Buys Vacant KJZZ Building,” Lisa Carricaburu, The Salt Lake Tribune, January 1, 2010
(7) The Book of Mormon, 1 Nephi 8:26
(8) The Book of Mormon, 1 Nephi 11:36
(9) “At $2.3 Billion, This Mall Could Be Too Big to Fail,” Terry Pristin, The New York Times, May 19, 2009
(10) “New Structure Symbolizes Mormon Growth,” Gustav Niebuhr, New York Times, February 6, 2000
(11) “Tabernacle Choir Getting to Know Unique Conference Center” News from the Church, April 11, 2005
(12) “Testimony of Brother Sadao Nagato, Resident Engineer of Tokyo Temple,” Sadao Nagato, Tambuli, October 1980, Page 64
(13) “Testimony of Brother Sadao Nagato, Resident Engineer of Tokyo Temple,” Sadao Nagato, Tambuli, October 1980, Page 64
(14) “The First Temple in Asia,” Tambuli, October 1980, Page 59
(15) “The First Temple in Asia,” Tambuli, October 1980, Page 59
(16) "Brisbane Australia Temple," Temples of the Church of Jesus Christ of Latter-day Saints
(17) "Suva Fiji Temple," Temples of the Church of Jesus Christ of Latter-day Saints
(18) "Brisbane Temple Open House in Progress," Church in the News, May 8, 2003
(19) “LDS Temple,” Fletcher Construction
(20) “Washington D.C. Temple,” Wikipedia
(21) “Testimony of Brother Sadao Nagato, Resident Engineer of Tokyo Temple,” Sadao Nagato, Tambuli, October 1980, Page 64
(22) “The Law of Tithing,” Daniel L. Johnson, Ensign, November 2006, Page 35
(23) “Washington D.C. Temple,” Wikipedia
(24) “Shichijuunin Daiichi Teiinkai Kaiin Kikuchi Yoshihiko,” Seito no Michi, February 1978, Page 152
(25) “Shinden wo Tateru Tami,” Spencer W. Kimball, Seito no Michi, October 1975, Page 420
(26) “Kokoro wo Sonaeyo,” Spencer W. Kimball, Seito no Michi, October 1975, Page 493
(27) “Kokoro wo Sonaeyo,” Spencer W. Kimball, Seito no Michi, October 1975, Page 495
(28) “Zouchiku Kansei naru Koube Suteekibu Nishimiya Waadobu Kyoukaidou,” Tetsuhiro Yamaji, Seito no Michi, May 1983, Page 76
(29) “Beyond the Century,” Page 264
(30) “Beyond the Century,” Page 264
(31) "As one LDS church closes on the reservation, another about to be built in Rapid City," Mary Garrigan, Rapid City Journal, April 15, 2009
(32) “Beyond the Century,” Page 265-266
(33) "Toukyou Suteekibu Sentaa Kendou Sareru," Seito no Michi, October 1983, Page 70
(34) “Beyond the Century,” Page 265
(35) "Kansei shita Kurume Shibu Kyoukaidou," Seito no Michi, October 1984. Page 68
(36) "Miyazaki Shibu 17 nen no Ayumi," Seito no Michi, January 1988, Page 110
(37) “Beyond the Century,” Page 199
(38) “Nihon Matsujitsu Seito Shi: 1850-1980,” William McIntyre and Shinji Takagi, Page 245-247
(39) “Beyond the Century,” Page 246-247
(40) “Beyond the Century,” Page 260
(41) “Beyond the Century,” Page 247
(42) “Kenchiku Mokuhyou Puran,” Seito no Michi, Church News, October 2005, Page 11
(43) “Kenchiku Mokuhyou Puran,” Seito no Michi, Church News, October 2005, Page 11
(44) “Kenchiku Mokuhyou Puran,” Seito no Michi, Church News, October 2005, Page 13
(45) "Hyoujun Kenchiku Puran ni yoru Ajia de Saisho no Kyoukaidou wo Chakkou," Seito no Michi, Church News, December 2004, Page 10
(46) Seito no Michi, September 1979, Page 44
(47) The Matsudo Stake Center is located right next to Parlor P-701, a Japanese casino. Here are the addresses:
??????????:?271-0054 ???????????219-2
???? P-701:?271-0054 ???????????250
(48) "Hyoujun Kenchiku Puran no Tatemono ga Chiiki ni Sengen suru Fukuin," Seito no Michi, Church News, June 2005, Page 17

***”Seito no Michi” is the name of the Japanese version of the church’s magazine, “Ensign,” before it was changed to “Liahona” in more recent years.
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The Cost Of A Building Error
Tuesday, Jul 27, 2010, at 12:03 PM
Original Author(s): The Mighty Builder
Topic: MORMON MONEY   -Link To MC Article-
The Mormon Church is currently troubled by the structural deterioration of the Church Office Building (COB).

When constructed the metal skeleton was clad with precast concrete slabs. This was done at great savings compared to other types of cladding considered by the Mormon Church. It is cheap, easy to install and was suppose to last for centuries. This cladding system was also used on the Mexico City temple when it was first built. In the correct environment it is a very suitable system. However as the Mormon Church has discovered in the wrong environment it is a disaster.

Several years ago a piece of cladding fell off the Mexico City Temple. Forensics discovered that the rebar used in the concrete had begun to deteriorate (rust) due to the hygroscopic properties (affinity for water) of unsealed concrete. Given the humid/wet environment of Mexico City the rusting of the rebar caused it to swell. This swelling puts great pressure on the concrete until it cleaves along a fracture plain and fails. The result is concrete patches falling from the sky. It became so critical at the Mexico City Temple that the Mormon Church had no choice but to close the temple and re-clad it with another material, in this case a Granite. $40 Million dollars was spent on the refurbish/remodel of the temple.

Well, the same thing is happening with the COB. Though no material has fallen off the building, it is continuing to deteriorate. It was thought at first that some sort of stabilization could be done on the material. But nothing tried so far works.

Well we got the estimation for refurbish/remodel of the COB – 1.34 Billion Dollars.
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About The Ogden Temple
Tuesday, Jul 27, 2010, at 07:33 AM
Original Author(s): The Mighty Builder
Topic: MORMON MONEY   -Link To MC Article-
The Ogden Temple is going to be remediated/remodeled to enhance the Temple and the surrounding area.

When originally constructed it was done in the same architecture as the Provo Temple again using precast concrete as the exterior structure. This is deteriorating just as the COB.

What is really forcing the remodel in my OPINION is the lack of leasing of the Ensign Plaza South Class “A” office building because of the BUTT UGLY TEMPLE.

The Mormon Church owns the property to the North and South of the Ogden Temple. A couple of years ago, the Mormon Church decided to develop the property North and South of the Temple to preserve the “Beauty and Majesty” of the Temple and frame it with edifices worthy of the House of the Lord. So construction of Ensign Plaza South began, with the North Plaza to follow once the South Plaza was at least 80% occupied.

As with all Mormon construction projects Satan was soon plaguing the build. First after the footings and foundation walls were poured it was discovered they were 1 foot over the property line towards the city right of way (sidewalk and street). The Mormon Church asked if they could buy the right of way incurred upon to which Ogden city said NO! So the construction was delayed by the requirement of moving the footings and foundations 1 foot west. Of course during the excavation for the new footings and foundations walls the excavator hit an unknown “UST” (underground storage tank). This immediately brought the build to a halt. Now the enemy of the Church geotechnical engineers found the soil to be contaminated so it had to be remediated/removed. The remediation/removal took six months. Well once construction started after the delay the greedy subcontractors immediately raised all their prices. They were unwilling to accept a 5 to 20 percent loss on their profit margins because enemy of the church suppliers hadraised the prices for materials such as concrete, wood, wiring, glass, etc.

After negotiations were completed on the price increases, we were once again building for Commercial Mormon Jesus. And things were moving happily along with everyone involved signing “Put your Shoulders to the Wheel” when once again Satan appeared. It seems that while the construction was progressing the Mormon Church signed an exclusive listing with a “good” friend (soon to be enemy of the church) realtor. With his exclusive rights he was busy signing leases for the building. Only it turns out that when the building was ready to outfit for the new tenants, there were none. NOPE, no new happy renters, gleefully giving money to the Mormon Church. It seems the now enemy of the church exclusive realtor made up all the leasers. To keep his exclusive rights he had to report weekly during the construction of who was gobbling up what floor and how much. So he pulled a fast one on the Mormon Church and just named names (kind of like weekly missionary reports about tracting/teaching statistics – maybe he learn this onhis mission).

SO to this day, Ensign Plaza South is at only 20% occupancy. Ensign Plaza North is just a promise (like moving back to Missouri) someday to be built.

So my best guess is that the Ogden Temple is being renovated/remodeled to look like Ensign Plaza South so maybe it can finally be filled.

Oh, final cost of the $20 Million budgeted Ensign Plaza South – $58.2 Million
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Mormon.org Spends $6.5 Million On Google Advertising In One Year
Wednesday, Jul 28, 2010, at 07:45 AM
Original Author(s): Jmoney
Topic: MORMON MONEY   -Link To MC Article-
As a webmaster by trade, I use this tool called, SpyFu.com all the time in order to see what my competitors are spending on certain keywords and terms.

Spyfu.com is the most accurate tool to determine what competitors are spending on Google AdWords advertising program. The reason I know is because I SpyFu my own Google AdWords campaigns and Spyfu.com is 95% accurate every time.

Here is what SpyFu says about Mormon.org http://spyfu.com/Domain.aspx?d=-20041...

This means the church has, in the past, paid for 1,812 keywords which results anywhere from 4k a day up to 18k a day.

If you take the highest they have paid, 18k in one month and times it by 30 days you get $540,000 a month in advertising. Times that by 12 months and it comes out to be 6.5 million in a year range!

This may be a high estimate, and things vary and monthly budgets may be higher or lower, but you get the idea of how much the church spends on the net.
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Church Owns Water Company in Hawaii
Wednesday, Jul 28, 2010, at 07:47 AM
Original Author(s): Not Wife #19
Topic: MORMON MONEY   -Link To MC Article-
I realized that LDS, Inc. is building (already built?) a luxury hotel in Hawaii through Hawaii Reserves, Inc., but did not realize that HRI manages over 7,000 acres in Laie and owns the water company that provides the island with its H2O. Apparently, the land was purchased in 1856 by the church, so just add this to the many multibillion dollar tentacles of big business masquerading as an ecclesiastical organization. The link is below with a quote from the website.
"Established in 1993, Hawaii Reserves, Inc. is a Hawaii-based corporation that manages properties affiliated with The Church of Jesus Christ of Latter-Day Saints primarily located in the historic community of Laie, Hawaii. Laie's rich history is epitomized by the renowned Hukilau Beach, where the town's first commercial hukilau took place in 1948. Laie is also home to Brigham Young University-Hawaii and the Polynesian Cultural Center, Hawaii's most popular paid attraction."

"HRI is the parent company for the Laie Water Company, which provides water to all of Laie. A pristine source of pure water from a basal aquifer deep beneath the ground provides the LWC with its water. Two pump stations draw approximately 1.2 million gallons of water per day from the aquifer for community use. The water crew installs, maintains and repairs approximately 120 fire hydrants, 700 water meters and all of Laie's water lines."
http://www.hawaiireserves.com/water.h...

I went back and re-checked the land acquisition date. Their websites shows 1865.

I was shocked when I found out about the massive amounts of land for cattle ranches in Florida that the church owned. This shocks me even more. I'm assuming that the church acquired the water rights along with the land. Where else is an island going to get their water? Got the people right where they want them, I'd say.

Here are a couple of other business involvements of the church through HRI. This is again from their website.

1. "L a ? ‘ie Water Company (established in 1991) operates the water system for the community of L a ? ‘ie and surrounding agricultural properties, delivering pure water from a basal aquifer deep beneath the ground."

2. "L a ? ‘ie Shopping Center (built in 1969) provides more than two dozen commercial and professional services in a 72,000-square-foot retail complex. From hardware to health care, the center serves a wide range of needs for the entire North Shore community."

3. "La ?‘ie Treatment Works runs a $20 million state-of-the-art wastewater treatment facility constructed by HRI. Since its construction, the facility has run at an operating loss of approximately $1 million annually. An agreement between HRI and the City and County of Honolulu allows for the transfer of the facility to the city."

"As a for-profit company, HRI uses revenues generated by its business ventures to fulfill its vision of creating an economically vibrant and sustainable L a ? ‘ie. Although affiliated with the LDS Church, HRI does not rely upon tithing paid by LDS church members to fund its operations. The company’s business ventures exemplify its deep roots in and long-term commitment to L a ? ‘ie. HRI seeks to invest in the community while preserving the unique character of the area."

I threw in that last paragraph because of the spin the church attempts to put on their vast business holdings. As they spin it, it all sounds too altruistic and noble when they're making a "long-term commitment" to what they make sound like community service (rather than making a buck). And, the "does not rely upon tithing" plea is wearing thin on me. They apparently had absolutely NO seed money for all of this. Or, perhaps DOES not doesn't mean DID not in that quote. More spin.

Why is an ecclesiastical organization's main interest in hotels, conference centers, real estate, broadcasting, life insurance, cattle, sugar, and water, instead of, say, shelters for the homeless sewer-dwelling begging children of third-world countries?
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You Will Discover The Same Money-Emphasis From Day Zero
Monday, Aug 9, 2010, at 01:53 PM
Original Author(s): Anonymous
Topic: MORMON MONEY   -Link To MC Article-
This is the top of the iceberg. May I suggest to all faithful LDS to study the Church History from day 0, along with main publications against it, such as John C. Bennett book...

You will discover the same money-emphasis from day zero.

Find-out that the origin of tithing was: "...voted to come up to the law of tithing, so far as circumstances would permit, for the benefit of the poor" (Church History Vol 2, Chp. 4, Tuestady 3, pg. 42)

Clearly the prophet (JS) and subsequent Church's presidents and upper managers (notice the function:= management), managed to cover-up from naive believers that their financial contributions where to build the kingdom of God..

If SLC is the Kingdom of God on Earth, I would cry bitterly... I believe that as the own Church's leaders rejoice in stating in the Instructional Videos about the first Quorum of Twelfe's President pseudo "fall", [the Church] is building the somebodies' Corporation and not the Kingdom of God...

My solution to the problem is simple: stop paying tithings to SLC. Donate your tithings to local charity verifiable initiatives (i.e., beware of wolves in sheep's clothings.)

Shame, shame, shame dear president and general authorities....

I felt deceived, ripped-off, etc...

From a former missionary, former bishop, former BYU student, former Church's PBO in an international Area...

But, as Jesus taught: "all secrets will be unveiled..."

Research for yourself and find out how Area Presidents make more than $300,000 per year in benefits (i.e., furshished housing in the fanciest neighborhood + twice a year trips to SLC in first class + international schools + two luxury full-equipped cars + house utilities, surveilance and maintenance, full health insurance, etc.) in addition to the "modest" salary never disclosed by the Church...

Church's unconditional loyal members that doesn't want to open their eyes may say that this is almost nothing, but Jesus taught that the trustful good shepper loves his sheep and that it is able to offer his life for the flock; on the other hand, the assalariated shepper will flee when the danger comes....

Have you seen our General authorities doing community service, elbow to elbow with faithfull saints? I have never, nevertheless I have witnessed more than 10 visits of "General Authorities" to Southamerica. They always: arrive and are escorted with bodyguards, rested in the fanciest hotels, eat the more luxury meals, attended several ceremonies in their honor, gave a speech, gave a blessing or two, and then went to the country in a tour with the local authorities, not to do service with the poors, or the needy, but to visit the local attractions, and after all, return to the hotel, for preparing another "heavy day", and finally, leaving the country in the same way as they arrived: in first class...

Of course, there should be some exceptions, but I have never seen a single one!!!

Shame, shame, shame...

Full of me, that it tooked more than 40 years to open my eyes !!!!
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Mormon Church Buys Junkyard Site For $2.1 Million
Wednesday, Jan 12, 2011, at 08:10 AM
Original Author(s): Goddiscussion
Topic: MORMON MONEY   -Link To MC Article-
From God Discussions:
What has been the home of Boughton's Auto Salvage – a garage, junk yard and used-parts facility – is an important site to the Church of Jesus Christ of Latter Day Saints (i.e., the Mormon Church), which has purchased the property for $2.1 million.

The Mormons believe that the area in Susquehanna County, NY, was home to Joseph Smith, and his wife, the former Emma Hale, from 1827 to 1830. Smith arrived in the area when working a silver mining venture. They also believe that their founder, Joseph Smith, translated the Book of Mormon there in 1829.

The parcel is next to another 124 acres that the church owns.
http://www.goddiscussion.com/39007/mo...
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A Snapshot Of The Finances Of The Church Of Jesus Christ Of Latter Day Saints In Canada
Monday, Mar 21, 2011, at 07:27 AM
Original Author(s): Harrison Ames
Topic: MORMON MONEY   -Link To MC Article-
The Canadian Revenue Agency (CRA) makes available to the public certain aspects of each registered charity in Canada. Each ward is registered as its own charity (487 in total) and are registered under names like “Church of Jesus Christ of Latter Day Saints Cherry Grove Ward, while the church also registers another charity for the church as a whole in Canada (The Church of Jesus Christ of Latter Day Saints in Canada – BN 119223758 RR0001).

In reviewing the 2009 filing for the nationwide charity, I found some numbers that I wanted to share with you.

1) It looks like each ward takes care of their local welfare and their activities budget out of the donations made by their members. The rest of the money is then transferred to the Church of Jesus Christ of Latter Day Saints in Canada. For example, on their 2009 filing, the Lethbridge 12th ward received $558, 729 in donations from their members. $1,740 was then spent on “office supplies,” $33,062 was spent on “all purchased supplies and assets,”, and $32,513 was spent on “other” which is later explained as being spent on “assistance to the poor and needy.” Further down on their filing, $492,942 of the member donation money is given to a “qualified donee” which isn’t specified, but we can assume it went to the Church of Jesus Christ of Latter Day Saints in Canada.

2) The Church of Jesus Christ of Latter Day Saints in Canada received $69,089,700 from “non-arm’s length parties,” again, presumably from the branches of the church throughout the country.

3) In 2009, the Church of Jesus Christ of Latter Day Saints in Canada gave $40,000,000 to BYU Provo. In other words, 57.9% of the money received from “non arms-length parties” that year. Here is the Form T1236(09) that shows the transfer to BYU.

http://www.cra-arc.gc.ca/ebci/haip/sr...

4) Compensation. In 2009, the Church of Jesus Christ of Latter Day Saints in Canada had 248 part-time workers who earned a total of $1,807,140 for the collective. They also had 184 full-time workers who split a total of $15,237,479, of those full-time workers, two of them made between $80,000 – $119,999; six of them made between $120,000 – $159,999; and two others made between $160,000 – $199,999.

Interesting stuff, isn’t it?

The T3030 return quoted in this document can be found here. http://www.cra-arc.gc.ca/ebci/haip/sr...

http://harrisonames.com/?p=37
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How The Mormons Make Money - Article
Wednesday, Jul 11, 2012, at 10:21 AM
Original Author(s): Stumbling
Topic: MORMON MONEY   -Link To MC Article-
Mormons make up only 1.4 percent of the U.S. population, but the church's holdings are vast. First among its for-profit enterprises is DMC, which reaps estimated annual revenues of $1.2 billion from six subsidiaries, according to the business information and analysis firm Hoover's Company Records (DNB). Those subsidiaries run a newspaper, 11 radio stations, a TV station, a publishing and distribution company, a digital media company, a hospitality business, and an insurance business with assets worth $3.3 billion.

AgReserves, another for-profit Mormon umbrella company, together with other church-run agricultural affiliates, reportedly owns roughly 1 million acres in the continental U.S., on which the church has farms, hunting preserves, orchards, and ranches. These include the $1 billion 290,000-acre Deseret Ranches in Florida, which, in addition to keeping 44,000 cows and 1,300 bulls, also has citrus, sod, and timber operations. Outside the U.S., AgReserves operates in Britain, Canada, Australia, Mexico, Argentina, and Brazil. Its Australian property, valued at $61 million in 1997, has estimated annual sales of $276 million, according to Dun and Bradstreet.

http://www.businessweek.com/articles/...

This older article from Nebraska shows that Mormon money making can hurt the regular people.

http://www.journalstar.com/news/state...

"Although its management structure may resemble a private corporation, the church's nonprofit status earns it an exemption from the state ban on corporate farming/ranching."

"Still, the consolidation of such large tracts of land by a single entity should cause concern, said John Hansen, president of the Nebraska Farmers Union. The law seeks to protect the state's interest in having a diversity of resident landowners who live on and work their properties."

"It's hard for local folks to outbid an outside investor who has unlimited money," Hansen said.

This LDS statement reveals how large the LDS owned agriculture industry is. "We run cattle ranches. We are the largest cow-calf operator in the nation."
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The Wisdom Of The Prophet, God's Representative On Earth, Thomas S. Monson: "One, Two, Three -- Let's Go Shopping!"
Wednesday, Jul 11, 2012, at 07:26 AM
Original Author(s): Infymus
Topic: MORMON MONEY   -Link To MC Article-
Keith B. McMullin, who for 37 years served within the Mormon leadership and now heads a church-owned holding company, Deseret Management Corporation (DMC), an umbrella organization for many of the church’s for-profit businesses wrote:

“We look to not only the spiritual but also the temporal, and we believe that a person who is impoverished temporally cannot blossom spiritually.”
Somebody tell that to Mother Teresa.

McMullin explains that City Creek exists to combat urban blight, not to fill church coffers. “Will there be a return?” he asks rhetorically. “Yes, but so modest that you would never have made such an investment–the real return comes in folks moving back downtown and the revitalization of businesses.” Pausing briefly, he adds with deliberation: “It's for furthering the aim of the church to make, if you will, bad men good, and good men better.”

http://www.businessweek.com/articles/... From the article:
The national anthem blared, and Henry B. Eyring, one of Monson’s top counselors, told the crowds, “Everything that we see around us is evidence of the long-standing commitment of the Church of Jesus Christ of Latter-day Saints to Salt Lake City.” When it came time to cut the mall’s flouncy pink ribbon, Monson, flanked by Utah dignitaries, cheered, “One, two, three–let’s go shopping!”
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Church Publishes 2011 Financial Accounts In The UK
Monday, Sep 10, 2012, at 07:35 AM
Original Author(s): Stumbling
Topic: MORMON MONEY   -Link To MC Article-
Please find below excerpts and quotes from the published Financial Accounts for the Church in the UK.

Membership - 188,029 (2010 - 187,436)
Convert Baptisms = 1,738

Operating costs increased to £46,739,000 (2010 - £35,998,000)
£5,459,000 donated to 'parent company'.
£3,303,000 to fund the Missionary programme in the UK (costs previously borne by 'parent company').
Repairs and improvement costs for meetinghouses etc rose by £1,900,000.

Breakdown of 2011 expenses by 'activity':
Provision of worship facilities - £23,790,000 (2010 - 22,747,000)
Religious education - £5,943,000 (2010 - 5,200,000)
Missionary work - £6,981,000 (2010 - £757,000) *these seems not to align with 'Operating costs' above*
Genealogy work - £5,204,000 (2010 - £5,069,000)
Community projects - £4,761,000 (2010 - £2,158,000)

Within these expense by activity numbers £12,350,000 was 'staff costs' and £6,797,000 was 'depreciation' on worship facilities.
There were 69 Building cleaners employed (2010 - 174).
There were 18 employee's whose emoluments were higher than £60,001 per annum (2010 - 38)
*The 20 who were cut were those who did not have "benefits accruing under the defined benefit scheme."*

Income increased to £47,976,000 (2010 - £35,673,000)
increase in donation from 'parent company' of £3,672,000.
land donation valued at £6,607,643 received from Farmland Reserve.

Donations from members (tithing) - £30,262,000 (2010 - £28,548,000)

Donations (other than tithing):
Missionary support fund - £777,000 (2010 - £755,000)
Book of Mormon fund - £41,000 (2010 - £43,000)
Fast offering fund - £1,625,000 (2010 - £1,761,000)
Temple construction fund - £70,000 (2010 - £58,000)
Humanitarian aid fund - £448,000 (2010 - £508,000)
Youth conferences - £301,000 (2010 - £318,000)
Perpetual education fund - £128,000 (2010 - £177,000)

Note: Temples (2 in UK) generated an income of just over £1,000,000 in both 2010 and 2011.

Other income highlights:
donations from members £33,652,000. (2010 - £32,168,000)
interest from monies invested £38,000. (2010 - £158,000)
income from 'charitable activities' £1,096,000. (this seems to be income from Temples)
income from 'other' sources £1,769,000. (this seems to be disposal of fixed assets etc)

"During the year £1,876,000 was spent for the relief of the poor and needy not only in the United Kingdom and Ireland but also other countries in Europe and Africa.

"Resources expended exceeded incoming resources for the year by £4,613,000 after taking into account the actuarial loss on the defined benefit pension scheme of £5,850,000."

The 'Charity' (Church) placed £1,000,000 in fixed term deposit accounts (2010 - £4,500,000), which achieved an average rate of 1.90% gross during 2011.

The actual reserves as of 31st December 2011 were £254,416,000 (2010 - 260,107,000) which "are significantly above The Charity's target. This significant figure is largely due to the conversion of inter-company debt to grant income that took place in prior years as directed by the parent company."
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2011 Financial Information From LDS Church In Canada
Monday, Sep 10, 2012, at 07:43 AM
Original Author(s): Deconverted2010
Topic: MORMON MONEY   -Link To MC Article-
2011 Financial Information from LDS Church in Canada - This time there are no millions for BYU

The 2011 financial information for "The Church of Jesus-Christ of Latter-Day Saints in Canada" is now available. This is the registered charity that receives all the tithing and donations money from all wards in Canada. A few months back I posted the link when the information for the wards was available, now this is for the whole church in Canada.

Check it out, the amounts transfered from the wards is $151,848,238, this is after all ward expenses. This is under this line on the form:

Total amount received from other registered charities 4510 $ 151,848,238

http://www.cra-arc.gc.ca/ebci/haip/sr...

Note that even though in previous years most of the money was transered to BYU, this time BYU only got 100K. Also note that some wards received money. I recognized a couple of the ward names, so my guess is that all of them are wards.

There are subtantial amounts going to charities in Ecuador, China and Ghana. Anyone has any theories on this?

I don't know why the urls are so long, I won't post more urls but you can find the page for 'detailed financial information' and for 'qualified donees'.

Here is the link to the main charities page, where you can search for your own ward/branch.

http://www.cra-arc.gc.ca/chrts-gvng/l...
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It's More Than Just City Creek
Thursday, Oct 25, 2012, at 11:54 AM
Original Author(s): Just A Thought
Topic: MORMON MONEY   -Link To MC Article-
While the $2-5 billion City Creek gets a lot of attention here, I thought I would point out some of the other real estate deals in the works:

The Highbury Center

"The Highbury Centre site, which is across the street from WinCo, is being developed by Suburban Land Reserve Inc., a subsidiary of The Church of Jesus Christ of Latter-day Saints. There are no other tenants currently at the development, according to LDS Church spokesman Scott Trotter."

http://www.sltrib.com/sltrib/news/518...

The West Layton Village

The land is owned by LDS, Inc, and the church is pushing hard to rezone the land to allow for a massive mixed residential and commercial development. The rezoning intiative will up for a vote this November.

http://westlaytonvillage.org/?page_id...

And maybe a future mega development in the works:

"...in exchange for an unspecified number of acres in southwestern Salt Lake County. The Salt Lake City-based Church of Jesus Christ of Latter-day Saints has "no current plans for the development of that land," according to Carl Duke, vice president of PRI's subsidiary, Suburban Land Reserve."

http://www.sltrib.com/sltrib/politics...

Any others I missed?
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VP At LDS Inc.'s Ensign Peak Investment Firm: "Billions Of Dollars Change Hands Every Day"
Tuesday, Mar 5, 2013, at 08:15 AM
Original Author(s): Cdnxmo
Topic: MORMON MONEY   -Link To MC Article-
Many people here are likely familiar with Bloomberg Businessweek's July 2012 indepth report, "How the Mormons Make Money" (ref. http://www.businessweek.com/articles/... ). I re-read the report yesterday and something caught my attention that I'd overlooked on p. 2:
"The [LD$] church also makes money through various investment vehicles, including a trust company and an investment fund called Ensign Peak Advisors, which employs managers who specialize in international equities, cash management, fixed income, quantitative investment, and emerging markets, according to profiles on LinkedIn (LNKD). Public information on Ensign Peak is sparse. In 2006 one of the fund's vice presidents, Laurence R. Stay, told the Mormon-run Deseret News, 'As we trade securities, all of the trading happens essentially with a handshake. . There's lots of protections around it, but billions of dollars change hands every day just based on the ethics of the group-that people know that they can trust each other.'"
"[B]illions of dollars" in financial trades "every day" going on in the secretive investment arm of LD$ Inc., the 'one, true' corporation of Je$u$ Chri$t. If that's not Chri$tian wealth-building in action, I don't know what is!

And below the online report is a posted remark by "gamnn:
"Hmm, my 89 year old father has been a Mormon his entire life. He has had medical problems the last 2 years and when we asked the church for help we got totally blown off.

"He did not ask for money just for help around his house or help getting to doctors appointments.He has paid his tithe no matter the hardship it has caused, the only thing the church does, is his home teacher visits once a month.

"My father use to help everyone in the ward, has donated 1000's of hours of his time at the bishops storehouse, we helped build the ward chapel 40 plus years ago and other church buildings... but ask for help and get squat."
The financially-well-taken-care-of "Brethren" and their GA money managers and lawyer chums really don't give a rat's ass about rank-and-file members of the Morg!
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Ld$ Inc. Sent 99% Of Canadian Mormons' "Tithes And Offerings" ($102.9m) To Byu - And Didn't Tell Them
Thursday, Mar 7, 2013, at 07:49 AM
Original Author(s): Widget
Topic: MORMON MONEY   -Link To MC Article-
LD$ Inc.'s money shell game using psychologically-coerced cash (i.e., "tithes and offerings") from hoodwinked Canadian Mormons, whose financial well-being in this life and "exaltation" after death partly depends on them forking over at least 10% of their income, money gifts, pension(s), inheritance(s), etc. to the money-grubbing Morg, per LD$ doctrine.

Online Canada Revenue Agency info. (see the CRA link below) reveals that there are 10 "Qualified Donees - THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS IN CANADA":

One in the USA: Brigham Young University Nine in Canada: Wildwood, Coronation Park, Surrey 1st, Park Meadows, Shawnessy, Surrey 3rd, Legacy, Willow Park, and Surrey 2nd (Spanish).

Having lived in the metro Vancouver area, which includes Surrey, I recognized Surrey 1st, 2nd (Spanish), and 3rd as LD$ units/congregations in the community. (They're listed here: http://www.yellowpages.ca/search/si/1... ).

The other Cdn. "Qualified Donees" are also LD$ units/congregations, based on YellowPages.ca info.

So, for the CRA reporting period (one recent calendar year, probably 2011), LD$ Inc. took in a total of $103,984,696 from Cdn. Mormons, and without telling them, send 99% of the funds ($102.9M) to its Brigham Young University in the USA.

Using misleading LD$ indoctrination materials and sermons from church leaders, Latter-day Saints in Canada (as in all countries) have repeatedly been told that "Tithing funds are used to build churches and temples, to sustain missionary work, and to build the kingdom of God on earth" (ref. http://www.lds.org/scriptures/gs/tith...).

What does subsidizing BYU have to do with building the LDS-imagined "kingdom of God on earth" (a.k.a. LD$ Inc.)? Nothing; BYU is a post-secondary education institution.

What IS the marketed "Purpose of the Church"? Text on lds.org provides the answer: "The Church of Jesus Christ of Latter-day Saints was organized by God to assist in His work to bring to pass the salvation and exaltation of His children.... In fulfilling its purpose to help individuals and families qualify for exaltation, the Church focuses on divinely appointed responsibilities. These include helping members live the gospel of Jesus Christ, gathering Israel through missionary work, caring for the poor and needy, and enabling the salvation of the dead by building temples and performing vicarious ordinances."

(Ref. http://www.lds.org/handbook/handbook-... )

To any lurking Cdn. Mormons, how do you feel about not being told the truth by LD$ Inc.'s Profits about where your "tithes and offerings" have ended up?

Why would the Morg's Profits' allow this kind of money shell game? Because people have been leaving the duplicitous LD$ Church "in droves", as reported in Jan. 2012 by Reuters. As hundreds of thousands of members have woken up to the fact that Mormonism is a fraud, they've stopped their payments of "tithes and offerings" and resigned.

But LD$ Inc. has always been about wealth-expansion (for itself, not its rank-and-file membership, of course). Using cash from its American income sources, the money managers at the Morg's Ensign Peak Advisors have no doubt been able to do MORE trades using sophisticated financial instruments (e.g., calls, puts, futures, FOREX spreads).

Computer tools such as trading software with a trailing stop-loss feature and electronic charting with programmable indicators have been around for years. The main advantage they've offered is maximizing profits on trades.

And PROFITS mean EVERYTHING to LD$ Inc., the 'one, true' corporation of Je$u$ Chri$t.

Here's the Canada Revenue agency link:

http://www.cra-arc.gc.ca/ebci/haip/sr...
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Church Publishes UK Financial Statements For 2012
Wednesday, Sep 11, 2013, at 07:41 AM
Original Author(s): Bazooka
Topic: MORMON MONEY   -Link To MC Article-
Excerpts from the published financial accounts for the Church in the UK for the 12 months ending 31st December 2012.

Church membership in the United Kingdom stood at 188,462 at 31 December 2012 (2011 188,029).
286 wards and 49 branches (335 congregations averaging 562 claimed members per congregation)

During 2012 there were 1,411 convert baptisms in the United Kingdom.

Incoming resources:
Voluntary Income
Donations andpound;33,159,000 (2011 andpound;33,652,000)
Donations from parent company andpound;17,946,000 (2011 andpound;4,813,000)
Donations from sister charity andpound;0 (2011 andpound;6,608,000)

Income from Temples andpound;1,030,000 (2011 andpound;1,020,000)

Total resources expended andpound;44,202,000 (2011 andpound;46,739,000)

Average Monthly Number of Paid Employee's
Teaching function - 25 (2011 - 25)
Office Administration - 159 (2011 - 168)
Building Cleaners - 50 (2011 - 69)

The number of employee's whose emoluments feel within the following bands:
andpound;70,001 - andpound;80,000 = 10 (2011 - 7)
andpound;60,001 - andpound;70,000 = 11 (2011 - 11)

Humanitarian Aid
Incoming resources - andpound;372,000
Expenditure - andpound;1,000 (Note: No, I haven't made a typo)

"These funds are donated by the members to help fund the programme of Humanitarian Aid approved by TCOJCOLDS. The balance of these funds at 31 December was transferred after the year end to the Corporation of the Presiding Bishopric of TCOJCOLDS."

Missionary Support Fund
Incoming resources - andpound;979,000
Expenditure - andpound;6,294,000

Fast Offering Fund
Incoming ressources - andpound;1,563,000
Expenditure - andpound;1,775,000

The net growth of the Church in 2012 was 433 members (just over 1 more per congregation despite 1,411 converts and God know's how many increases in children of record). That's a growth of 0.23%.

The UK death rate is 9.33 per 1,000 per annum. So we could estimate there were approximately 1,500 - 2,000 Mormon deaths in the UK in 2012.

This means new converts (even if none went inactive) don't offset the death toll. If this trend is seen worldwide then it's no wonder the message from General Authorities is to ignore overpopulation and get making more and more babies. It's the only source of growth for the Church!

The tithing and donation income was insufficient and so COB had to stump up nearly andpound;18,000,000 to balance the books.

Mormon Church UK is a sinking ship.
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LD$ Inc.'s 2012 Financial Data Filed With The Canada Revenue Agency
Tuesday, Oct 8, 2013, at 08:14 AM
Original Author(s): Cdnxmo
Topic: MORMON MONEY   -Link To MC Article-
Here's the data: http://donate2charities.ca/en/THE.CHU...

ASSETS: $685,632,256

Cash, bank accounts, and short-term investments: $55,868,464
Amounts receivable from non-arm's length parties: $26,144,848
Amounts receivable from all others: $4,747,715
Investments in non-arm's length parties: $6,451,252
Long-term investments: $5,285,795
Land and buildings in Canada: $925,065,600
Other capital assets in Canada: $62,201,632
Accumulated amortization of capital assets: -$403,079,744
Other assets: $2,946,647

LIABILITIES: $12,886,581

Accounts payable and accrued liabilities: $1,497,055
Other liabilities: $11,389,526

TOTAL REVENUE: $180,203,888

Amount of all gifts for which the charity issued tax receipts: $2,063,697
Amount received from other registered charities [wards and branches]: $158,451,152
Sale of goods and services: $4,546,953

TOTAL EXPENDITURES: $18,887,152

Operating Cost: $31,617,869
Travel and vehicle expenses: $2,958,178
Interest and bank charges: $100,008
Office supplies and expenses: $6,301,243
Occupancy costs: $22,133,258
Professional and consulting fees: $18,862
Education and training for staff and volunteers: $106,320

ALL COMPENSATION: $20,240,680

188 permanent, full-time, compensated positions: $18,818,227
153 part-time or part-year employees: $1,422,453
Amortization of capitalized assets: $27,831,780
Purchased supplies and assets: $47,658,136
Other Expend. (assist the poor and disaster relief): $2,582,311

477 Cdn. branches and wards are registered with the CRA.

Using the online data, the average "Amount received from other registered charities", meaning LD$ congregations in Canada, is $332,182.71.

The average compensation for "188 permanent, full-time" personnel is almost $100,097. And for "153 part-time or part-year employees"? Just under $9,297.

Given that LD$ Inc. doesn't spend a nickel more on meetinghouse supplies and ward/branch activities than necessary for an almost bare-bones operation, I have to wonder how much of the $47,658,136 reportedly spent on "Purchased supplies and assets" was used to acquire the latter in the form of real estate.

"Other Expend." of $2,582,311 to assist the poor and for disaster relief works out to a measly 1.43% of total revenue. The "true" corporation of Je$u$ Chri$t may wobble and morph about its so-called "restored" doctrines, teachings, and rituals, but when it comes to assisting the less fortunate the "only true and living church", quoting Oaks in June 2010, has been consistently tight-fisted.

To review previously posted info., in July 2012 Businessweek reported: "According to an official church Welfare Services fact sheet, the [LDS] church gave $1.3 billion in humanitarian aid in more than 178 countries and territories during the 25 years between 1985 and 2010. A fact sheet from the previous year indicates that less than one-third of the sum was monetary assistance, while the rest was in the form of 'material assistance.' All in all, if one were to evenly distribute that $1.3 billion over a quarter-century, it would mean that the church gave $52 million annually. A study co-written by [Prof. Ryan] Cragun [of the Univ. of Tampa] and recently published in Free Inquiry estimates that the Mormon Church donates only about 0.7 percent of its annual income to charity; the United Methodist Church gives about 29 percent."

If Jesus was alive today and had access to $55,868,464 in "Cash, bank accounts, and short-term investments" alone, I'd wager that he would've parted with considerably more than a relatively small $2,582,311 last year to help people in need. Clearly, the $40-billion Mormon Church has other priorities.
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Mormon Church Now Florida's Biggest Private Landowner
Friday, Nov 8, 2013, at 07:19 AM
Original Author(s): Infymus
Topic: MORMON MONEY   -Link To MC Article-
From the Tampa Bay Times:
the Mormon Church is poised to become the largest private landowner in the state.

AgReserves Inc., a Utah-based tax-paying affiliate of the church, is buying nearly 383,000 acres in northwest Florida from the St. Joe Co., according to a deal announced Thursday.

The price tag of $565 million includes the bulk of St. Joe's timberland in Bay, Calhoun, Franklin, Gadsden, Gulf, Jefferson, Leon, Liberty and Wakulla counties.

The church already controls the Deseret Ranches in Central Florida, which consists of about 290,000 acres spread over three counties. The new deal would push its holdings above 650,000 acres. That's more than the other Florida land heavyweights, including Perry-based Foley Timber and Land Co. (562,000 acres) and Plum Creek, a Seattle-based real estate trust with 448,000 acres, according to Plum Creek's website
http://www.tampabay.com/news/business...

I'm sure the Tampa Bay Times will receive a letter from the One True Lawfirm correcting the Times to use the Mormon Church's rediculously long name and not "Mormon".
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Zion's Bank Posts Huge Losses
Monday, Dec 23, 2013, at 09:17 AM
Original Author(s): Devoted Exmo
Topic: MORMON MONEY   -Link To MC Article-
Zion's Bank posts huge losses: http://www.nytimes.com/2013/12/20/bus...
"Zions's shareholders would have done much better if the bank - and others - had done things the old-fashioned way. It could have raised more capital by issuing common stock. When it needed additional deposits to finance loans it wanted to make, it could have offered higher interest rates. Both of those courses could have depressed reported earnings per share, and perhaps damaged Zions's share price. But they would not have led to the large losses that are being reported now."
And:
"The roots of the problem go back to 2000. Deposits were not growing rapidly enough to allow Zions to meet loan demand from its customers. So it created a special purpose entity called Lockhart Funding. Zions made the loans, packaged them into securities and "sold" them to Lockhart, which was financed largely by selling short-term commercial paper.

As Clark B. Hinckley, a Zions senior vice president, told me almost six years ago, "It enabled us to essentially originate these loans and not have to keep tangible capital behind them. That sale to Lockhart was, for all practical purposes, a fiction.""
How involved is the Church with the bank these days?

But really, this is all impossible.
"You can rest assured that this church doesn't put its investments and its confidence in anything that isn't stable, honorable and (having) a record of performance and integrity,"
Monson said - see http://www.deseretnews.com/article/70...

Prophets of the Lord cannot be wrong.
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Mormons To Build 32-Story Tower Near Center City
Thursday, Feb 13, 2014, at 08:02 AM
Original Author(s): Philly.com
Topic: MORMON MONEY   -Link To MC Article-
From Philly.com:
The Mormon Church plans to build a 32-story apartment tower and a public meetinghouse on a vacant lot next to the Vine Street Expressway, filling in a key piece of the no-man's-land that has long separated Center City and North Philadelphia's rebounding neighborhoods.

The private development by the Church of Jesus Christ of Latter-day Saints calls for 258 apartments, 13 townhouses, and retail shops at 16th and Vine Streets.

The meetinghouse will have a chapel, courtyard, multipurpose space, and a center to research genealogy, said Michael Marcheschi, senior real estate manager for the church's national special projects department.
http://www.philly.com/philly/news/201...
 
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Dubious Partner For The City Creek Center
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VP At LDS Inc.'s Ensign Peak Investment Firm: "Billions Of Dollars Change Hands Every Day"
Ld$ Inc. Sent 99% Of Canadian Mormons' "Tithes And Offerings" ($102.9m) To Byu - And Didn't Tell Them
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  · ADAM GOD DOCTRINE (4)
  · APOLOGISTS (53)
  · ARTICLES OF FAITH (1)
  · BAPTISM FOR THE DEAD (31)
  · BAPTISM FOR THE DEAD - PEOPLE (16)
  · BLACKS AND MORMONISM (12)
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  · BOB BENNETT (1)
  · BOB MCCUE (144)
  · BONNEVILLE COMMUNICATIONS (2)
  · BOOK OF ABRAHAM (50)
  · BOOK OF MORMON (66)
  · BOOK OF MORMON EVIDENCES (18)
  · BOOK OF MORMON GEOGRAPHY (24)
  · BOOK OF MORMON WITNESSES (5)
  · BOOK REVIEW - ROUGH STONE ROLLING (28)
  · BOOKS - AUTHORS AND DESCRIPTIONS (12)
  · BOOKS - COMMENTS AND REVIEWS (44)
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  · BRIAN C. HALES (1)
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  · BRIGHAM YOUNG UNIVERSITY (54)
  · BRUCE C. HAFEN (4)
  · BRUCE D. PORTER (1)
  · BRUCE R. MCCONKIE (10)
  · CALLINGS (11)
  · CATHOLIC CHURCH (5)
  · CHANGING DOCTRINE (12)
  · CHILDREN AND MORMONISM (48)
  · CHRIS BUTTARS (1)
  · CHURCH LEADERSHIP (3)
  · CHURCH PUBLISHED MAGAZINES (51)
  · CHURCH TEACHING MANUALS (10)
  · CHURCH VAULTS (4)
  · CITY CREEK CENTER (23)
  · CIVIL UNIONS (14)
  · CLEON SKOUSEN (3)
  · COGNITIVE DISSONANCE (2)
  · COMEDY (128)
  · CONCISE DICTIONARY OF MORMONISM (14)
  · D. MICHAEL QUINN (1)
  · D. TODD CHRISTOFFERSON (6)
  · DALLIN H. OAKS (101)
  · DANIEL C. PETERSON (88)
  · DANITES (4)
  · DAVID A. BEDNAR (23)
  · DAVID O. MCKAY (8)
  · DAVID R. STONE (1)
  · DAVID WHITMER (1)
  · DELBERT L. STAPLEY (1)
  · DESERET NEWS (3)
  · DIETER F. UCHTDORF (13)
  · DNA (23)
  · DOCTRINE AND COVENANTS (8)
  · DON JESSE (2)
  · ELAINE S. DALTON (5)
  · EMMA SMITH (5)
  · ENSIGN PEAK (1)
  · ERICH W. KOPISCHKE (1)
  · EX-MORMON FOUNDATION (33)
  · EX-MORMON OPINION - SECTION 1 (35)
  · EX-MORMON OPINION - SECTION 10 (24)
  · EX-MORMON OPINION - SECTION 11 (25)
  · EX-MORMON OPINION - SECTION 12 (25)
  · EX-MORMON OPINION - SECTION 13 (25)
  · EX-MORMON OPINION - SECTION 14 (25)
  · EX-MORMON OPINION - SECTION 15 (25)
  · EX-MORMON OPINION - SECTION 16 (25)
  · EX-MORMON OPINION - SECTION 17 (25)
  · EX-MORMON OPINION - SECTION 18 (25)
  · EX-MORMON OPINION - SECTION 19 (26)
  · EX-MORMON OPINION - SECTION 2 (25)
  · EX-MORMON OPINION - SECTION 20 (24)
  · EX-MORMON OPINION - SECTION 21 (25)
  · EX-MORMON OPINION - SECTION 22 (24)
  · EX-MORMON OPINION - SECTION 23 (25)
  · EX-MORMON OPINION - SECTION 24 (28)
  · EX-MORMON OPINION - SECTION 3 (24)
  · EX-MORMON OPINION - SECTION 4 (24)
  · EX-MORMON OPINION - SECTION 5 (23)
  · EX-MORMON OPINION - SECTION 6 (24)
  · EX-MORMON OPINION - SECTION 7 (25)
  · EX-MORMON OPINION - SECTION 8 (24)
  · EX-MORMON OPINION - SECTION 9 (26)
  · EX-MORMONISM SECTION 1 (25)
  · EX-MORMONISM SECTION 10 (25)
  · EX-MORMONISM SECTION 11 (25)
  · EX-MORMONISM SECTION 12 (25)
  · EX-MORMONISM SECTION 13 (25)
  · EX-MORMONISM SECTION 14 (25)
  · EX-MORMONISM SECTION 15 (25)
  · EX-MORMONISM SECTION 16 (25)
  · EX-MORMONISM SECTION 17 (25)
  · EX-MORMONISM SECTION 18 (25)
  · EX-MORMONISM SECTION 19 (25)
  · EX-MORMONISM SECTION 2 (25)
  · EX-MORMONISM SECTION 20 (24)
  · EX-MORMONISM SECTION 21 (25)
  · EX-MORMONISM SECTION 22 (24)
  · EX-MORMONISM SECTION 23 (25)
  · EX-MORMONISM SECTION 24 (25)
  · EX-MORMONISM SECTION 25 (25)
  · EX-MORMONISM SECTION 26 (61)
  · EX-MORMONISM SECTION 3 (21)
  · EX-MORMONISM SECTION 4 (22)
  · EX-MORMONISM SECTION 5 (24)
  · EX-MORMONISM SECTION 6 (25)
  · EX-MORMONISM SECTION 7 (25)
  · EX-MORMONISM SECTION 8 (25)
  · EX-MORMONISM SECTION 9 (26)
  · EXCOMMUNICATION AND COURTS OF LOVE (19)
  · EZRA TAFT BENSON (30)
  · FACIAL HAIR (6)
  · FAIR / MADD - APOLOGETICS (70)
  · FAITH PROMOTING RUMORS (11)
  · FARMS (30)
  · FIRST VISION (23)
  · FOOD STORAGE (3)
  · FUNDAMENTALIST LDS (17)
  · GENERAL AUTHORITIES (29)
  · GENERAL CONFERENCE (14)
  · GENERAL NEWS (5)
  · GEORGE P. LEE (1)
  · GORDON B. HINCKLEY (68)
  · GRANT PALMER (8)
  · GREGORY L. SMITH (9)
  · GUNNISON MASSACRE (1)
  · H. DAVID BURTON (2)
  · HAROLD B. LEE (1)
  · HATE MAIL I RECEIVE (23)
  · HAUNS MILL (2)
  · HBO BIG LOVE (12)
  · HEBER C. KIMBALL (4)
  · HELEN RADKEY (17)
  · HELLEN MAR KIMBALL (4)
  · HENRY B. EYRING (5)
  · HOLIDAYS (13)
  · HOME AND VISITING TEACHING (9)
  · HOWARD W. HUNTER (1)
  · HUGH NIBLEY (13)
  · HYMNS (7)
  · INTERVIEWS IN MORMONISM (18)
  · J REUBEN CLARK (1)
  · JAMES E. FAUST (7)
  · JEFF LINDSAY (6)
  · JEFFREY MELDRUM (1)
  · JEFFREY R. HOLLAND (32)
  · JEFFREY S. NIELSEN (11)
  · JOHN GEE (3)
  · JOHN L. LUND (3)
  · JOHN L. SORENSON (4)
  · JOHN TAYLOR (1)
  · JOSEPH B. WIRTHLIN (1)
  · JOSEPH F. SMITH (1)
  · JOSEPH FIELDING SMITH (8)
  · JOSEPH SITATI (1)
  · JOSEPH SMITH (101)
  · JOSEPH SMITH - POLYGAMY (43)
  · JOSEPH SMITH - PROPHECY (8)
  · JOSEPH SMITH - SEER STONES (7)
  · JOSEPH SMITH - WORSHIP (13)
  · JUDAISM (3)
  · JULIE B. BECK (6)
  · KEITH B. MCMULLIN (1)
  · KERRY MUHLESTEIN (9)
  · KERRY SHIRTS (6)
  · KINDERHOOK PLATES (6)
  · KIRTLAND BANK (6)
  · KIRTLAND EGYPTIAN PAPERS (17)
  · L. TOM PERRY (5)
  · LAMANITE PLACEMENT PROGRAM (3)
  · LAMANITES (36)
  · LANCE B. WICKMAN (1)
  · LARRY ECHO HAWK (1)
  · LDS CHURCH (19)
  · LDS CHURCH OFFICE BUILDING (9)
  · LDS OFFICIAL ESSAYS (22)
  · LDS SOCIAL SERVICES (3)
  · LGBT - AND MORMONISM (44)
  · LORENZO SNOW (1)
  · LOUIS C. MIDGLEY (6)
  · LYNN A. MICKELSEN (2)
  · LYNN G. ROBBINS (1)
  · M. RUSSELL BALLARD (13)
  · MARK E. PETERSON (7)
  · MARK HOFFMAN (12)
  · MARLIN K. JENSEN (3)
  · MARRIOTT (2)
  · MARTIN HARRIS (5)
  · MASONS (16)
  · MELCHIZEDEK/AARONIC PRIESTHOOD (9)
  · MERRILL J. BATEMAN (3)
  · MICHAEL D. WILLIAMS (1)
  · MICHAEL OTTERSON (1)
  · MICHAEL R. ASH (26)
  · MITT ROMNEY (71)
  · MORE GOOD FOUNDATION (4)
  · MORMON CELEBRITIES (14)
  · MORMON CHURCH HISTORY (8)
  · MORMON CHURCH PR (13)
  · MORMON CHURCH PROPAGANDA (5)
  · MORMON CLASSES (1)
  · MORMON DOCTRINE (35)
  · MORMON FUNERALS (12)
  · MORMON GARMENTS (20)
  · MORMON HANDCARTS (12)
  · MORMON INTERPRETER (4)
  · MORMON MARRIAGE EXCLUSIONS (1)
  · MORMON MEMBERSHIP (38)
  · MORMON MISSIONARIES (142)
  · MORMON MONEY (73)
  · MORMON NEWSROOM (5)
  · MORMON POLITICAL ISSUES (5)
  · MORMON RACISM (18)
  · MORMON TEMPLE CEREMONIES (38)
  · MORMON TEMPLE CHANGES (15)
  · MORMON TEMPLES (116)
  · MORMON VISITOR CENTERS (10)
  · MORMON WARDS AND STAKE CENTERS (1)
  · MORMONTHINK (13)
  · MOUNTAIN MEADOWS MASSACRE (21)
  · MURPHY TRANSCRIPT (1)
  · NATALIE R. COLLINS (11)
  · NAUVOO (3)
  · NAUVOO EXPOSITOR (2)
  · NEAL A. MAXWELL (1)
  · NEAL A. MAXWELL INSTITUTE (1)
  · NEIL L. ANDERSEN - SECTION 1 (3)
  · NEW ORDER MORMON (8)
  · OBEDIENCE - PAY, PRAY, OBEY (15)
  · OBJECT LESSONS (15)
  · OLIVER COWDREY (6)
  · ORRIN HATCH (10)
  · PARLEY P. PRATT (11)
  · PATRIARCHAL BLESSING (5)
  · PAUL H. DUNN (5)
  · PBS DOCUMENTARY THE MORMONS (20)
  · PERSECUTION (9)
  · PIONEER DAY (3)
  · PLAN OF SALVATION (5)
  · POLYGAMY (60)
  · PRIESTHOOD BLESSINGS (1)
  · PRIESTHOOD EXECUTIVE MEETING (0)
  · PRIMARY (1)
  · PROCLAMATIONS (1)
  · PROPOSITION 8 (21)
  · PROPOSITION 8 COMMENTS (11)
  · QUENTIN L. COOK (11)
  · RELIEF SOCIETY (14)
  · RESIGNATION PROCESS (31)
  · RICHARD E. TURLEY, JR. (6)
  · RICHARD G. HINCKLEY (2)
  · RICHARD G. SCOTT (7)
  · RICHARD LYMAN BUSHMAN (11)
  · ROBERT D. HALES (5)
  · ROBERT L. MILLET (7)
  · RODNEY L. MELDRUM (15)
  · ROYAL SKOUSEN (2)
  · RUNTU'S RINCON (78)
  · RUSSELL M. NELSON (14)
  · SACRAMENT MEETING (11)
  · SALT LAKE TRIBUNE (1)
  · SCOTT D. WHITING (1)
  · SCOTT GORDON (5)
  · SEMINARY (5)
  · SERVICE AND CHARITY (24)
  · SHERI L. DEW (3)
  · SHIELDS RESEARCH - MORMON APOLOGETICS (4)
  · SIDNEY RIGDON (7)
  · SIMON SOUTHERTON (34)
  · SPAULDING MANUSCRIPT (8)
  · SPENCER W. KIMBALL (12)
  · STEVE BENSON - SECTION 1 (18)
  · STEVE BENSON - SECTION 10 (17)
  · STEVE BENSON - SECTION 11 (15)
  · STEVE BENSON - SECTION 12 (19)
  · STEVE BENSON - SECTION 13 (21)
  · STEVE BENSON - SECTION 14 (17)
  · STEVE BENSON - SECTION 15 (12)
  · STEVE BENSON - SECTION 2 (21)
  · STEVE BENSON - SECTION 3 (18)
  · STEVE BENSON - SECTION 4 (25)
  · STEVE BENSON - SECTION 5 (22)
  · STEVE BENSON - SECTION 6 (19)
  · STEVE BENSON - SECTION 7 (15)
  · STEVE BENSON - SECTION 8 (13)
  · STEVE BENSON - SECTION 9 (19)
  · STORIES (1)
  · SUNSTONE FOUNDATION (2)
  · SURVEILLANCE (SCMC) (12)
  · TAD R. CALLISTER (3)
  · TAL BACHMAN - SECTION 1 (25)
  · TAL BACHMAN - SECTION 2 (25)
  · TAL BACHMAN - SECTION 3 (25)
  · TAL BACHMAN - SECTION 4 (25)
  · TAL BACHMAN - SECTION 5 (25)
  · TAL BACHMAN - SECTION 6 (25)
  · TAL BACHMAN - SECTION 7 (9)
  · TALKS - SECTION 1 (1)
  · TEMPLE WEDDINGS (6)
  · TEMPLES - NAMES (1)
  · TERRYL GIVENS (1)
  · THE PEARL OF GREAT PRICE (1)
  · THE SINGLE WARDS (5)
  · THE WORLD TABLE (3)
  · THOMAS PHILLIPS (18)
  · THOMAS S. MONSON (33)
  · TIME (4)
  · TITHING (63)
  · UGO PEREGO (5)
  · UK COURTS (7)
  · UNNANOUNCED, UNINVITED AND UNWELCOME (36)
  · UTAH LIGHTHOUSE MINISTRY (3)
  · VALERIE HUDSON (3)
  · VAN HALE (16)
  · VAUGHN J. FEATHERSTONE (1)
  · VIDEOS (30)
  · WARD CLEANING (4)
  · WARREN SNOW (1)
  · WELFARE (0)
  · WENDY L. WATSON (7)
  · WHITE AND DELIGHTSOME (11)
  · WILFORD WOODRUFF (6)
  · WILLIAM HAMBLIN (11)
  · WILLIAM LAW (1)
  · WILLIAM SCHRYVER (5)
  · WILLIAM WINES PHELPS (3)
  · WOMEN AND MORMONISM (86)
  · WORD OF WISDOM (7)
  · WORLD CONGRESS OF FAMILIES (1)
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