Utah has been the Strictest Republican State with Lockdowns
$100 Billion Mormon Church Slush Fund Exposed
When an inside whistleblower exposed the extensive holdings of the LDS Church via Ensign Peak Advisors, the Church issued the following statement:
In remarks last year, a high-ranking cleric in the church, Bishop Gérald Caussé, said it “pays taxes on any income it derives from revenue-producing activities that are regularly carried on and are not substantially related to its tax-exempt purposes.”
"The church typically collects about $7 billion each year in contributions from members, according to the complaint. Mormons, like members of some other faith groups, are asked to contribute 10 percent of their income to the church, a practice known as tithing.
While about $6 billion of that income is used to cover annual operating costs, the remaining $1 billion or so is transferred to Ensign, which plows some into an investment portfolio to generate returns, according to the complaint. Based on internal accounting documents from February 2018, the complaint estimates the portfolio has grown in value from $12 billion in 1997, when Ensign was formed, to about $100 billion today." (Washington Post)
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