Investigations Mormon Church has misled members on $100 billion tax-exempt investment fund, whistleb

[FreeState]

Source: Washington Post

A former investment manager alleges in a whistleblower complaint to the Internal Revenue Service that the Church of Jesus Christ of Latter-day Saints has amassed about $100 billion in accounts intended for charitable purposes, according to a copy of the complaint obtained by The Washington Post.

The confidential document, received by the IRS on Nov. 21, accuses church leaders of misleading members — and possibly breaching federal tax rules — by stockpiling their surplus donations instead of using them for charitable works. It also accuses church leaders of using the tax-exempt donations to prop up a pair of businesses.

A spokesman for the church did not respond to detailed questions from The Post about the complaint. “The Church does not provide information about specific transactions or financial decisions,” spokesman Eric Hawkins said in a statement.

The complaint provides a window into the closely held finances of one of the nation’s most visible religious organizations, based in Salt Lake City. It details a church fortune far exceeding past estimates and encompassing stocks, bonds and cash.


Read more: https://www.washingtonpost.com/investigations/mormon-church-has-misled-members-on-100-billion-tax-exempt-investment-fund-whistleblower-alleges/2019/12/16/e3619bd2-2004-11ea-86f3-3b5019d451db_story.html

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Time to start taxing “churches”.

[Corgigal]

1. Surprise!

Said no DU’er.

[politicaljunkie41910]

38. It might surprise you to learn that these people are not as bad as you may imagine.

For the record, the Mormon people tithe religiously, pay taxes, and take care of their neighbors. No where else can you find a community of people that truly takes care of their community the way that they do. I have no idea about the validity of the information in the Wash Post based on the information they obtained from the Investor. What I do know about the Mormon Church is from what I've learned from knowing the people, Salt Lake City, and their Church for more than 17 years.

The first time I went Salt Lake City for a football game 17 yrs ago, everyone we met was welcoming. The place is clean, the people are friendly, and it is a very clean and safe community. The people are very generous. They have a church in every community so people don't have to go far for services, and the people that they fellowship with are their neighbors because they live in the same community.

The first time I was there, I was taken on a tour around Salt Lake City by a Church member I met for the first time that day. They have the resources to take care of every member's needs. They have farms where they grow and store food so no one ever has to go hungry. They take dinners to their neighbors when they are sick. They have their own social services offices where they see to people's needs. If a person loses their job, they can go to the food bank and get food supplies to tie them over for as long as they need to. If Mom is sick, the neighbors bring them meals. While Salt Lake City is a predominately white community, I can't tell you how many Mormon families have adopted minority babies. The first time I was there, we stopped at the local Wal-Mart and I ran into 3 different white families with black babies in the first 15 minutes I was in the store. They invite strangers, (my family) into their homes the first time they met us, and they're very hospitable.

Everyone in the Church has a job at the Church. The older women teach the young girls and younger women. The Father's teach the sons. The people are responsible citizens and take care of their community, their churches, their families, and their neighbors. Most of the women don't usually work outside the home, since they usually have young children at home and the women are the homemakers. But they work at other things, that I've already mentioned by helping out their neighbors and taking care of their families, and volunteering at their churches and in their communities. The older women in the Church and the Mothers teach the younger women how to organize the home since they tend to have children early and these women have a system for organizing everything. They also have their own University, Brigham Young University; so that they can afford to educate their kids at a reasonable rate and aren't waiting for the federal government to provide free college tuition.

For the record, I have had next door neighbors who were Mormon, In-Laws who are Mormon (my son married a Mormon girl), and grandchildren who are Mormons, and friends in the workplace who are Mormon. For the record, I worked for the Department of Defense (DoD), and the running joke used to be was that the Mormons were the only ones who could pass the rigorous background investigations that you have to go through to get a security clearance. I can certify that that is not true, but I have worked with a lot of them, so perhaps there's a ounce of truth to that.

I refrained from discussing things that I don't know anything about such as the info in the OP and the WP Article, but I thought I'd offer another perspective based on my first hand information.


.

[DiverDave]

40. Magic underwear

Nuff said.

[obamanut2012]

42. lolz

[2naSalit]

2. They all need to be paying taxes.

[Perseus]

11. Yes, they should pay taxes.

When are people going to stop believing in churches and all the fantasy around it?

I have a friend who is a mechanic, the next door neighbour at his garage is a "reverend" (priest, whatever), my friend's garage is small, and so is the reverend's "shop". The reverend drives a Mercedes-Benz, his wife drives a Mercedes-Benz (both latest models), they have a huge RV, and if you see them you know you don't want to pray with either of them. My friend talks to him once in a while, and he has told me about the guy's "business", he brags about how easy it is to make money preaching.

I know there are some good churches who actually do good, but there is too much corruption in the the name of "god".

[moriah]

36. I'm a "Reverend" too, but in a Honda Accord.

Then again, Pagan clergy don't draw monetary salaries, and my particular Tradition forbids monetary exchange for clergy-related duties.

The look on the face of the father of a bride or groom I've married who tried to palm me money, and I quietly gave it back and said, "I'm sorry, sir, but my vows don't allow me to take that. Thank you for the offer, though"....

Not everybody is that way, but my Trad is.

And at least we can tell our day jobs that we're merely "asked to give a eulogy" if we need to help the bereaved by officiating at a memorial, though my company only gave 1 day off for non-family funerals and that's not universal. Still, when I got the call, I made it happen so the grieving family didn't have to worry.

It's what being clergy is (supposed to be) about.

[CozyMystery]

23. Absolutely agree! nt

[dalton99a]

3. About damn time someone looked into this scam

[scarytomcat]

34. religion?

total scam money

[czarjak]

4. To be fair...

"Lying for The Lord" is their motto.

[cstanleytech]

5. I wonder how much of that money they have used to essentially buy politicians and elections.

[mtngirl47]

6. Unconscionable amount of money. n/t

[Haggis for Breakfast]

7. It is PAST time that churches got taxed.

Once they started getting into politics and disseminating political opinions, they lost the reason for their exemption.

Churches are now some of the wealthiest organizations on earth. And yet, they pay no taxes.

Time to start levying taxes on these institutions.

[hatrack]

8. Shocked, shocked!

[2naSalit]

12. Round up the usual suspects!

[SergeStorms]

9. I'm sure every denomination has a slush fund....

that's supposed to be used for charitable purposes, but is invested in tax exempt scams only meant to enrich the church. Every church should be investigated thoroughly and then taxed on the amount found not conforming to IRS standards. The Mormons are one of the biggest abusers of their tax exempt status, but Scientology, the Catholic church, and Jehovah's Witnesses are mammoth abusers as well. Almost all religions are a scam used to control people and their money.

[FreeState]

10. And most are tied together

I’m a Scientologist
I’m a Mormon

Same campaign, same lawyers, same PR firms... different cult.

[BigmanPigman]

33. Right church, wrong pew.

[GETPLANING]

13. The Mormon Church runs a massive hedge fund

Mitt Romney is a director

[More_Cowbell]

14. They spent millions on anti-gay legislation in CA and AZ

It's past time for churches to pay taxes.

[3Hotdogs]

15. Money's gone. No planet for Romney.... can no longer afford it.

Fact is, none of yiz are gonna get any planets.

[PatrickforO]

16. Oh, my goodness! Say it ain't so!

I'm always sorry when a church goes the wrong direction.

I think there's a sort of peculiar blindness that happens when churches start getting big and wealthy.

That gold is awfully shiny! And think of the power we can have!

And, unless there's one person that says, "Wait a minute! We can't do that," the whole group of them can trot off in the wrong direction.

[defacto7]

17. One of the first things I wrote on DU when I came here

was a warning about my personal experience with the LDS church and it's amassed wealth. This is the tip of the iceberg.

Told 'ya.

[diva77]

19. can you tell us a bit more about your experience that led you to warn us?

[defacto7]

31. No, I'd rather leave it alone.

But it doesn't matter as it seems some things are leaching from the tunnels to the surface. I hope it continues.

[Hassler]

18. Joe Smith was a grifter, it's in the church DNA from the start.

[FreeState]

20. Absolutely

It’s the life blood of the church. The first pressing of the Book of Mormon was paid for by my GGGG Grandfather. It’s always been about money and sex. Joe decided to try and sell the rights in Canada - but that didn’t turn out too well due to the local men tar and feathering Joe for sleeping with under age girls.

[benld74]

21. Donnie and Marie are pissed!!

[LittleGirl]

22. TAX THE CHURCHES

Come on now. We must do this!
Sorry, I was shouting but I'm sick of this stupid shit.

[BlueIdaho]

24. They probably picked up a few good tricks

Banking the mobs Vegas money.

[Initech]

25. Tax the shit out of them!

Think of all the things they could pay for if the churches paid their fair share!

[KY_EnviroGuy]

26. Another way to look at this is.....

if churches followed the true principles of their teachings, humility and meekness would be the primary guiding ones regarding church budgets and we might even agree with tax exemption because they all would be operating on a shoestring. They would also be very valuable contributors to our communities as emotional safe-havens and good village charities.

But alas - humans will be human and the greed and arrogance of power invariably comes to the surface.....

So, I agree we should tax them back into humility (just as many everyday citizens are).

Most now are nothing but elements of laissez faire capitalism with a facade of goodness.......

[bucolic_frolic]

27. The Mormon Hierarchy: Wealth and Corporate Power

https://www.amazon.com/Mormon-Hierarchy-Wealth-Corporate-Power/dp/1560852356

[vanamonde]

28. I disagree with churches paying taxes

"Taxation without representation". Remember that?
Once you are paying taxes to a government entity you are entitled to a say in what that entity does. And churches/mosques/temples whatever have no business doing so.
What is missing is prosecution and sanctioning of organizations who abuse this religious exemption by getting involved in politics.

[obamanut2012]

43. lolz

[MissMillie]

29. $100b? They could be very charitable w/ that (n/t)

.

[Javaman]

30. I wonder if any members of that church are now questioning their manditory tithe of 10%

of their earnings now.

it were me, I would be one very pissed off Mormon right now.

[FreeState]

35. They are taught it's a sin to question the leaders

"It is wrong to criticize your leaders, even if the criticism is true." -Dallin H. Oaks

[Javaman]

41. the perfect robots. nt

[jeffreyi]

32. Well at least it was only 100 billion.

Could have been much worse, no?

[TheFourthMind]

37. This payback for this?

https://www.mormonwomenforethicalgovernment.org/official-statement-from-mormon-women-for-ethical-government-on-the-house-impeachment-vote/


I assume every tweet against California over the second half of the past year is retaliation for this idea:
https://www.nytimes.com/2019/07/30/us/politics/california-trump-tax-returns.html

[FreeState]

39. Nope

“ MWEG is not affiliated with or endorsed by The Church of Jesus Christ of Latter-day Saints. We do, however, fully sustain the leaders and doctrines of the Church.“

Notice the last line - this is a very small group that the church doesn’t recognize. The last line is an effort to say to their local leaders “don’t excommunicate us we are towing the line of the brethren”.