The LDS Church’s 100 Billion Dollar Investments

Introduction

The Church of Jesus Christ of Latter-day Saints, commonly known as the LDS Church or the Mormon Church, is a religious organization with over 16 million members worldwide. One of the most notable practices of the LDS Church is the collection of tithes, which requires members to donate 10% of their income to the Church. In recent years, the financial management of the LDS Church has come under scrutiny, with controversy surrounding their investment practices and transparency. In this article, we’ll explore the controversy and different perspectives on the issue.

The LDS Church’s Investment Practices

Decades ago, the LDS Church began investing in a contingency fund to ensure financial stability. This contingency fund led to the creation of an investment arm, Ensign Peak Advisors, which manages the Church’s growing portfolio. In 2019, a whistleblower complaint to the IRS revealed that the LDS Church had approximately $100 billion in investments through Ensign Peak Advisors. This revelation caused controversy among members and non-members alike, with many questioning the Church’s use of tithes.

Transparency and the SEC Fine

The controversy surrounding the LDS Church’s investment practices also brought up issues of transparency. In February 2021, the Securities and Exchange Commission (SEC) fined the LDS Church $5 million for violating securities laws by failing to disclose its investment portfolio’s monetary value. The Church’s lack of transparency, as evidenced by the SEC fine, has led to further criticism from both members and outsiders.

Different Perspectives on the Issue

The controversy surrounding the LDS Church’s financial management has led to differing opinions within the Mormon community. Some members see no problem with the Church’s investment practices, citing the importance of financial stability for the organization. Others are concerned with the lack of transparency and the use of tithes for investments, especially given the Church’s tax-exempt status. These differing perspectives have led to debates within the Mormon community and beyond.

Conclusion

The controversy surrounding the LDS Church’s financial management highlights the importance of transparency and accountability, particularly for tax-exempt organizations. While some members of the Mormon community support the Church’s investment practices, others are concerned about the use of tithes for investments and the lack of transparency. Ultimately, the issue raises important questions about the ethics of financial management for religious organizations and the need for transparency in investment practices.