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The Mormon Church kept their $100 BILLION investment fund a secret over fears that it would discourage members from tithing Login/Join 
Lead slingin'
Parrot Head
Picture of Modern Day Savage
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quote:
Originally posted by 1KPerDay:
quote:
Originally posted by PorterN:
quote:
Originally posted by Balzé Halzé:
Being a non-Mormon, I honestly couldn't care less.


Being a Latter-day Saint, I honestly couldn't care less.

Yeah... how dare they be good at investing and saving money. It would be way better if they were in the red Big Grin


Indeed. Perhaps, and without knowing the details we can't be certain, but perhaps the church may need to consider increasing their charitable donations, but it seems to me that the Mormon leadership was fiscally conservative, kept their operating costs low and invested wisely, and kept a large sum in reserve... essentially practicing what they teach. As long as no one involved with the fund was embezzling money for personal enrichment it doesn't concern me in the least that they have the money or how they spend it.

Hell, there are some elected leaders, government employees and government pension fund board members that could learn a thing or two from the Mormons. Maybe we need more of them in Congress to manage the U.S. budget.

The concern I have is, now that news of the fund size has broken, I'd be willing to bet there will be some politicians eyeing that nugget and scheming up laws or punitive actions to chisel their portion while implementing wealth redistribution...if not now, then under a future administration.
 
Posts: 7324 | Location: the Centennial state | Registered: August 21, 2006Reply With QuoteReport This Post
Lead slingin'
Parrot Head
Picture of Modern Day Savage
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quote:
Originally posted by AllenInWV:
How do you think they're gonna afford to build the Nauvoo?


Bravo! Outstanding reference!
 
Posts: 7324 | Location: the Centennial state | Registered: August 21, 2006Reply With QuoteReport This Post
Banned
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I have family that are Mormon. They pretty much keep an eye on how much you're tithing. Seems alittle creepy to me. Tithing is important but it's between you and God. Start reading Malachi 3:8. God does make promises to those who do tithe. but that's up to you.
 
Posts: 1396 | Registered: August 25, 2018Reply With QuoteReport This Post
Savor the limelight
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Not a Mormon, but we set up our kids' 529 plans in Utah because of the Mormons' reputation for financial responsibility. They seem to be good stewards of God's gifts.
 
Posts: 10784 | Location: SWFL | Registered: October 10, 2007Reply With QuoteReport This Post
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Picture of sigcrazy7
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quote:
Originally posted by Prefontaine:

Big Grin

That should cover the cost of magic underwear too.


Roll Eyes

What a tired, old, dreary comment. I suppose you think you’re clever by retreading this backhanded attack? I’ve heard this kind of crap since I was a kid. You don’t know what you’re talking about.

Nobody in this country cared 120 years ago when the LDS church was nearly bankrupt from having all of its assets seized over polygamy. Now that they’ve been good stewards of their funds and recovered, people have problems with it? The LDS church also runs one of the most extensive charitable organizations in the world, along with an extensive missionary program. Reagan said that the country’s welfare system should be modeled after the LDS Church’s. Also, the clergy is a lay clergy, along with all the time that’s donated by its members. Having no payroll really saves a lot of money. Are these bad things? Near my town alone, the LDS Church gave $200K to the Krishnas when they ran out of money trying to build their temple in Salem, UT.

It’s sad when people attack an organization for doing the right thing.



Demand not that events should happen as you wish; but wish them to happen as they do happen, and you will go on well. -Epictetus
 
Posts: 8189 | Location: Utah | Registered: December 18, 2008Reply With QuoteReport This Post
I'd rather be hated for who I am than loved for who I am not
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I cant agree with the theology but they are a decent moral group and I agree with their concept of being prepared.
 
Posts: 7790 | Location: Bismarck ND | Registered: February 19, 2003Reply With QuoteReport This Post
Freethinker
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One of the enduring mysteries to me is why so many religious believers feel justified in ridiculing or attacking other religions. If you’re not being tied to a stake to be burned as a heretic yourself, what business is it of yours what other people do and believe as part of their faith? Whenever I see something like that my first thought is that those who attack or ridicule are profoundly insecure about their own beliefs and are reduced to finding fault with others to prop themselves up.




6.4/93.6

“Most men … can seldom accept the simplest and most obvious truth if it … would oblige them to admit the falsity of conclusions … which they have woven, thread by thread, into the fabrics of their lives.”
— Leo Tolstoy
 
Posts: 47343 | Location: 10,150 Feet Above Sea Level in Colorado | Registered: April 04, 2002Reply With QuoteReport This Post
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quote:
Originally posted by trapper189:
Not a Mormon, but we set up our kids' 529 plans in Utah because of the Mormons' reputation for financial responsibility. They seem to be good stewards of God's gifts.
While that may be true don't they also have an advantage of no taxes?
 
Posts: 3867 | Registered: January 25, 2013Reply With QuoteReport This Post
delicately calloused
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quote:
Originally posted by 1s1k:
quote:
Originally posted by trapper189:
Not a Mormon, but we set up our kids' 529 plans in Utah because of the Mormons' reputation for financial responsibility. They seem to be good stewards of God's gifts.
While that may be true don't they also have an advantage of no taxes?


As with all religious organizations. There are countless organizations that pay no or severely discounted taxes.



You’re a lying dog-faced pony soldier
 
Posts: 29578 | Location: Highland, Ut. | Registered: May 07, 2008Reply With QuoteReport This Post
Wait, what?
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quote:
Originally posted by darthfuster:
quote:
Originally posted by 1s1k:
quote:
Originally posted by trapper189:
Not a Mormon, but we set up our kids' 529 plans in Utah because of the Mormons' reputation for financial responsibility. They seem to be good stewards of God's gifts.
While that may be true don't they also have an advantage of no taxes?


As with all religious organizations. There are countless organizations that pay no or severely discounted taxes.

Like the Grand Church of the National Football League. The time to evade taxes for this or that reason needs to be over. Especially when these "organizations" are clearly massive money laundering machines.




“Remember to get vaccinated or a vaccinated person might get sick from a virus they got vaccinated against because you’re not vaccinated.” - author unknown
 
Posts: 15491 | Location: Martinsburg WV | Registered: April 02, 2011Reply With QuoteReport This Post
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I don't care what they use it for but it is supposed to be used for the Lord's work and that is why you give. The church I went to took all of the money they received and used some of it for the buildings bills/usage and gave the rest to missionaries, preachers who do not have a salary,etc., and not kept as profit. I understand wanting to have a reserve for issues with the buildings.etc., but if it is not going to help with works for the Lord, then it can be an issue. As far as giving it to another religion, I have to say it is not biblically correct but is up to them.
 
Posts: 6830 | Location: Treasure Coast,Fl. | Registered: July 04, 2003Reply With QuoteReport This Post
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Picture of Jimbo Jones
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I concur.

I admire them for their preparation. They recently (2013) bought 400,000 acres of St. Joe Paper Co. land in No. Fla. to raise cattle on.

At the time, they became the largest private landowner of land in the state of Florida.


quote:
Originally posted by Ronin101:
I cant agree with the theology but they are a decent moral group and I agree with their concept of being prepared.


---------------------------------------
It's like my brain's a tree and you're those little cookie elves.
 
Posts: 3625 | Location: Cary, NC | Registered: February 26, 2013Reply With QuoteReport This Post
Oh stewardess,
I speak jive.
Picture of 46and2
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Some things just sound *crazy*, sorry. Nothing insecure about poking fun at crazy sounding things sometimes. Funny is funny. A spade's a spade. If you're going to make extraordinary claims, expect equivalent pushback and jokes at your expense if you (the universal) come without evidence. Sasquatch enthusiasts get equal treatment, as do Alien sightings and abduction claims (or, as it were, things like holy Golden Plates being found buried in New York in the 1800s...).

Whatever, though. They're mostly harmless, and mostly confined to Utah. They can still borrow Utah.

And Mesa, AZ. They can just have Mesa, AZ.

Smile
 
Posts: 25613 | Registered: March 12, 2004Reply With QuoteReport This Post
Savor the limelight
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quote:
Originally posted by 1s1k:
While that may be true don't they also have an advantage of no taxes?


All 529 plans have tax advantages. Utah's My529, formerly Utah Education Savings Plan (UESP), has very low fees. Vanguard mutual funds are available through My529, again, low fees. I believe no one can beat the market consistantly, so lowest fees wins for me.
 
Posts: 10784 | Location: SWFL | Registered: October 10, 2007Reply With QuoteReport This Post
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Picture of bigdeal
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Maybe it's an issue of what we believe the church's purpose actually is. I just don't believe churches should be in the business of acquiring and accumulating wealth. I have no issues with them banking a rainy day fund to protect themselves from unexpected expenses or needs, but billions? No sir. If churches don't plow their contributions/donations/whatever back into programs specifically designed to help those needing help, then they should be taxed on whatever they do accumulate over some agreed upon threshold. And yes, I believe that should apply to all churches, regardless their denomination. And that 'threshold' is likely to only impact the largest of churches.


-----------------------------
Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
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Picture of Prefontaine
posted Hide Post
quote:
Originally posted by sigcrazy7:
quote:
Originally posted by Prefontaine:

Big Grin

That should cover the cost of magic underwear too.


Roll Eyes

What a tired, old, dreary comment. I suppose you think you’re clever by retreading this backhanded attack? I’ve heard this kind of crap since I was a kid. You don’t know what you’re talking about.

Nobody in this country cared 120 years ago when the LDS church was nearly bankrupt from having all of its assets seized over polygamy. Now that they’ve been good stewards of their funds and recovered, people have problems with it? The LDS church also runs one of the most extensive charitable organizations in the world, along with an extensive missionary program. Reagan said that the country’s welfare system should be modeled after the LDS Church’s. Also, the clergy is a lay clergy, along with all the time that’s donated by its members. Having no payroll really saves a lot of money. Are these bad things? Near my town alone, the LDS Church gave $200K to the Krishnas when they ran out of money trying to build their temple in Salem, UT.

It’s sad when people attack an organization for doing the right thing.


The very thing you mentioned, I read up on many years ago. They wanted to be a state in the United States and got into a scrap with the US over polygamy. I read about the asset seizure. Then all of a sudden the leader of the LDS said he had a revelation from God, that no more polygamy. Funny how that works.

Then I also read about blacks not being allowed to be priests in the 70's. Story caught on from local paper to national news. A lot of pressure and whining occurred. All of a sudden, the leader of the church said he had a revelation that black people should be able to be priests.

If that's what you believe then believe it. My comment shouldn't mean anything to you. My opinion is not the gospel. I question any religion such as this that came about in 1830, nearly 2000 years after the Lord. Talking about a spaceship, your own planet, etc.



What am I doing? I'm talking to an empty telephone
 
Posts: 12555 | Location: Down South | Registered: January 16, 2010Reply With QuoteReport This Post
Big Stack
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Not specific to the Mormon Church, but considering this information and how it came out, and that religious institutions get special rax exempt status, should they...

- Be required to publicly release their financial information annually? I believe other types of non-profits are required to.

- Be required to spend a certain percentage of there assets on charitable activities?

This message has been edited. Last edited by: BBMW,
 
Posts: 21240 | Registered: November 05, 2003Reply With QuoteReport This Post
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Picture of ChuckWall
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They have $100,000,000,000 and they want more.

God's work seems to be expensive or what is that underwear really made out of?


*************
MAGA
 
Posts: 5689 | Registered: February 20, 2009Reply With QuoteReport This Post
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Picture of PowerSurge
posted Hide Post
quote:
Originally posted by BBMW:
Not specific to the Mormon Church, but considering this information and how it came out, and that religious institutions get special rax exempt status, should they...

- Be required to publicly relates there financial information annually? I believe other types of non-profits are required to.

- Be required to spend a certain percentage of there assets on charitable activities?


I’m not a believer but I’m against more gov’t intervention in just about everything. Maybe the Mormons should just wake up and pay attention to where their money goes and leave it at that.

Then again, if they’re ok with the status quo, leave them be.


———————————————
The fool hath said in his heart, There is no God. Psalm 14:1
 
Posts: 3955 | Location: Northeast Georgia | Registered: November 18, 2017Reply With QuoteReport This Post
Leave the gun.
Take the cannoli.
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quote:
Originally posted by gearhounds:
Like the Grand Church of the National Football League. The time to evade taxes for this or that reason needs to be over. Especially when these "organizations" are clearly massive money laundering machines.


NFL has been paying taxes since approximately 2012
 
Posts: 6634 | Location: New England | Registered: January 06, 2003Reply With QuoteReport This Post
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