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Church of Jesus Christ of Latter-day Saints - Finances | | Church of Jesus Christ of Latter-day Saints - Finances: Encyclopedia II - Church of Jesus Christ of Latter-day Saints - Finances | | The financial status of the Church has been the focus of two investigative reports: a 1991 report by the Arizona Republic and a 1997 report by Time Magazine. Both claim the Church is the most prosperous American religion, with Time estimating $5.2 billion in tithes during 1996. The Church has holdings in real estate, as well as for-profit businesses managed through Deseret Management Corporation. Time estimated assets in 1996 at more than $30 billion.
It is difficult to determine the exact financial status of the Church because it is ...
See also:Church of Jesus Christ of Latter-day Saints, Church of Jesus Christ of Latter-day Saints - History, Church of Jesus Christ of Latter-day Saints - Name of the church, Church of Jesus Christ of Latter-day Saints - Major Beliefs, Church of Jesus Christ of Latter-day Saints - First Principles and Ordinances of the Gospel, Church of Jesus Christ of Latter-day Saints - The Godhead, Church of Jesus Christ of Latter-day Saints - Church leadership and the priesthood, Church of Jesus Christ of Latter-day Saints - The Plan of Salvation, Church of Jesus Christ of Latter-day Saints - Scriptures, Church of Jesus Christ of Latter-day Saints - Chapels, Church of Jesus Christ of Latter-day Saints - Sunday Services, Church of Jesus Christ of Latter-day Saints - Weekday & Weeknight Meetings, Church of Jesus Christ of Latter-day Saints - Temples, Church of Jesus Christ of Latter-day Saints - Other practices, Church of Jesus Christ of Latter-day Saints - Polygamy, Church of Jesus Christ of Latter-day Saints - Prayers, Church of Jesus Christ of Latter-day Saints - Missionaries, Church of Jesus Christ of Latter-day Saints - Education, Church of Jesus Christ of Latter-day Saints - Finances, Church of Jesus Christ of Latter-day Saints - LDS Customs, Church of Jesus Christ of Latter-day Saints - Titles, Church of Jesus Christ of Latter-day Saints - Public Speaking, Church of Jesus Christ of Latter-day Saints - Genealogy, Church of Jesus Christ of Latter-day Saints - Criticism and Controversy, Church of Jesus Christ of Latter-day Saints - Footnotes | | | Church of Jesus Christ of Latter-day Saints, Church of Jesus Christ of Latter-day Saints - Chapels, Church of Jesus Christ of Latter-day Saints - Church leadership and the priesthood, Church of Jesus Christ of Latter-day Saints - Criticism and Controversy, Church of Jesus Christ of Latter-day Saints - Education, Church of Jesus Christ of Latter-day Saints - Finances, Church of Jesus Christ of Latter-day Saints - First Principles and Ordinances of the Gospel, Church of Jesus Christ of Latter-day Saints - Footnotes, Church of Jesus Christ of Latter-day Saints - Genealogy, Church of Jesus Christ of Latter-day Saints - History, Church of Jesus Christ of Latter-day Saints - LDS Customs, Church of Jesus Christ of Latter-day Saints - Major Beliefs, Church of Jesus Christ of Latter-day Saints - Missionaries, Church of Jesus Christ of Latter-day Saints - Name of the church, Church of Jesus Christ of Latter-day Saints - Other practices, Church of Jesus Christ of Latter-day Saints - Polygamy, Church of Jesus Christ of Latter-day Saints - Prayers, Church of Jesus Christ of Latter-day Saints - Public Speaking, Church of Jesus Christ of Latter-day Saints - Scriptures, Church of Jesus Christ of Latter-day Saints - Sunday Services, Church of Jesus Christ of Latter-day Saints - Temples, Church of Jesus Christ of Latter-day Saints - The Godhead, Church of Jesus Christ of Latter-day Saints - The Plan of Salvation, Church of Jesus Christ of Latter-day Saints - Titles, Church of Jesus Christ of Latter-day Saints - Weekday & Weeknight Meetings, Criticism of Mormonism, Exmormon, Mormon, Mormon apologetics, Mormonism, Mountain Meadows Massacre, Temple (Mormonism), List of temples of The Church of Jesus Christ of Latter-day Saints | | |
| | | Church of Jesus Christ of Latter-day Saints: Encyclopedia II - Church of Jesus Christ of Latter-day Saints - Finances
Church of Jesus Christ of Latter-day Saints - Finances
The financial status of the Church has been the focus of two investigative reports: a 1991 report by the Arizona Republic and a 1997 report by Time Magazine. Both claim the Church is the most prosperous American religion, with Time estimating $5.2 billion in tithes during 1996. The Church has holdings in real estate, as well as for-profit businesses managed through Deseret Management Corporation. Time estimated assets in 1996 at more than $30 billion.
It is difficult to determine the exact financial status of the Church because it is not required to disclose financial information. Some of the Church's known holdings include:
- AgReserves Inc, Salt Lake City, Utah - the largest producer of nuts in America.
- Beneficial Life Insurance Co. - assets of $1.6 billion.
- Bonneville International Corporation - the 14th largest radio chain in the U.S.
- Deseret Cattle and Citrus Ranch in Orlando, Florida - the world's largest beef ranch at 312,000 acres (1260 km²). The land alone is worth an estimated $858 million.
- Farmland Reserve, Inc - recently purchased 88,000 acres (356 km²) in Nebraska bringing its total in Nebraska to 228,000 acres (923 km²) second in Nebraska to Ted Turner's 290,000.
- Polynesian Cultural Center, Hawaii - the leading for-profit visitor attraction in Hawaii.
The Church uses its financial resources to provide social welfare and relief, build facilities, maintain the missionary program, and support Church sponsored programs.
Provide for Social welfare and relief -
The Church operates a welfare distribution system, as it encourages members to seek financial assistance from family and church first before seeking public or state-sponsored welfare. AgReserves Inc., Deseret Cattle and Citrus Ranch, and Farmland Reserve, Inc. are part of its welfare distribution system. Welfare resources are distributed by local bishops but maintained by the Presiding Bishop.
Build facilities -
The Church builds additional chapels and temples as wards and branches of the Church are organized. A recent temple building program concluded in 2001 where the church built about 40 smaller temples between 1998 and 2001. The church currently has 122 temples around the world with 11 additional temples either announced or under construction. See chronological list of temples.
Maintain its missionary program -
Although the families of missionaries generally pay $400 a month for missions, additional general funds of the Church support missionaries unable to pay for their own missions. Additionally, the Church provides a mission office and mission home for each of its 300 missions and pays for television advertising offering free copies of the Book of Mormon, the Bible, videos, etc.
Support Church sponsored programs -
The Church owns and subsidizes education at its three Universities (see Education above). It also supports Boy Scouts programs for young men and Seminary and Institute programs.
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 Adapted from the Wikipedia article "Finances", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki |
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