LDS Church Makes Money In For Profit Businesses Funded By Mormon Donations
Because the Mormon Church is a religious institution, they aren't required to disclose many of their records, and are known for not being open about it's wealth.
Mormons in good standing are to tithe 10% of their income, or they lose their temple recommend. These titles are tax deductible.
Many churches uses these donations for more charitable work. The Seventh Day Adventists for example, have humanitarian project in terms of building hospitals and medical schools and schools and universities .
The Mormon church has plowed resources into a multi-billion-dollar global network of for-profit enterprises : it is the largest rancher in the United States, a church official told Nebraska's Lincoln Journal Star in 2004, with other ranches and farms in Mexico, Brazil, Argentina, Australia and Great Britain
It also has a small media empire, an investment fund, and is developing a mall across from its Salt Lake City headquarters, which it calls an attempt to help revitalize the city rather than to make money.Accurately assessing the church's finances from the outside is impossible , however, because Mormon leaders in 1959 stopped releasing financial reports even to their own members.
Instead of a financial report, church officials assure members that their contributions are managed "prayerfully and with inspiration." Worldwide membership is 7.7 million, including more than 1 million in Utah.
Some members are concerned, and some ex Mormons have a jaded view of how they run their "business"
The Mormon church, meanwhile, appears to be decreasing transparency and member control of donations. New tithing slips give fewer donation options and come with an expanded disclaimer saying the church has sole discretion over spending, even though it will make "reasonable efforts" to follow donors' wishes."Hey, where's the slot of 'shopping malls'?" a poster said of the new slips on exmormonforums.com, one of several dissident sites.
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Mormon Church, Catholic Church....these institutions follow a similar financial model. The story is pretty accurate from what i have seen, living in Salt Lake City. The pipe organ they show on their broadcasts was carved from the wood of a single tree (allegedly), and the wood alone cost something like 15 million. If they are capable of that type of excess outside of business, imagine what they are capable of within the realm of business. Swire Coca Cola, all Zion's businesses, etc...all beholden to the Mormon empire.
Mike,
I was agreeing with you, right up to that last post. No one knows what is in the heart of another person. What they believe or don't. Someone's political beliefs doesn't dictate their religious ones. John is a democrat and a religious Catholic. Same for Biden. If you don't like Romney being dissed because of his faith, don't do the same yourself.
You must be tripping!
Is it me, or has this taken a turn to the silly?
Dang, I hate when that happens.
I will wager that the Catholic Church owns lots more. Even colleges own commercial real eastate.
Columbia Universitys real estate portfolio may rival that of the Catholic Church [NYO]
Folksnot able to attack Romney directly are attacking his religion. Why else would this be a topic? They are pulling out all the stops.
>>I think Romney is dangerous because of what he believes, if you're curious about that,I can elucidate.
Go right ahead and write something we can sink our teeth into.
Obama is far more dangerous. One reason: He has handed the Middle East to the Muslim Brotherhood on a silver platter and is mortally endangering Israel. He has allowed radical Muslims into key security areas of our government.
What could Romney possibly do that is worse?
Who owns New York ?
Geez , that's not the way I remember that song . For one thing there were no women ...
You knew it would be coming once he was the candidate.
Watch for the attacks on him though attacks on the Mormons to increase mightily over the next couple of months.
Of course, Obama's religion is hate America, hate whites, as he evidenced by his attendance for so long at Reverend Wrong's church.
Folks just shrug that away though, he never really "listened" during those hate filled sermons, didn't know, never had an idea!
Surprisingly, I agree with you 100% Randy. Bet the dem's don't, however, they would lose 99.2% of the black and hispanic vote in a heart beat!
Mike,
Did you notice that the trashing of the Mormons didn't start until Romney emerged as a serious candidate? Until then, nobody really cared what some obscure religious sect did. As a non religious person, I find it rather amusing to watch the sudden rise of religious bigotry toward one particular group, simply because one of their members threatens the position of the God Obama. The question of the candidate's religion was settled in 1960 and should remain settled. Of course, the pro Obama people must make the election about Romney and must attack him in any way possible, even if it means embracing religious bigotry. If they don't, the election would then focus on Obama and how he's handled things in the last four years. If that happens, Obama loses, no matter who's running against him.
20,000 terrorist attacks since 9/11.
I am still waiting for you to "elucidate."
In NY at least, every religious institution pays real-estate taxes oncommercial uses, but not for religious use.
There is no federal tax.
Religious institutions do not make profit. All the revenue is for maintaining the institution. Member dues and donations are generally not sufficient to provide support for the expenses.