Whistleblower claims Mormon Church stockpiled $100 billion in charitable donations, dodged taxes

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I used to be a Mormon. I stopped paying tithing over ten years ago because it bothered me that the church wasn’t transparent about where the donations went. It was always obscure answers. I was basically told to just trust our leaders. Turns out it was one of the best financial decisions 18 year old me made. Lol

friedpikmin

Saving up to buy the Nauvoo.

jump_the_snark

In short, the church pulls in $7B from tithing a year, spends $6B, and throws the rest in stocks. Over the last 22 years, that stock portfolio has grown to $100B. $0 has been paid out from the fund to charitable causes and exactly two expenditures have been made: one to a for-profit mall in SLC owned partially by the church, and one for a church-owned for-profit insurance company bail-out. The church claims $40 million (with an “m”) is spent on humanitarian efforts yearly, but church members know that this likely comes from additional donations earmarked “humanitarian aid” on their donation slips, unlikely from the tithing funds.

socalledDNA

A good reason why all churches should be taxed. If you have billions of dollars, you need to fucking pay your fair share.

MugglePuncher

The allegations understate the true amount of assets the Mormon Church has by a lot. In addition to the stock etc they have large land holdings, as in largest single owner of farm land in the lower 48 and the owner of farm lands in excess of a million acres in Latin America. This info comes from other disaffected church employees from inside the church. Edit: fun fact, in my 50 yrs as a practicing Mormon I likely donated over $250,000 in tithing money. Could have paid my house off with that $$. Oh well…..

NoMoreMormonLies