It really bothers me that this went on for so many years. So many years and several people did nothing. Lawyers did nothing year after year. The people at Ensign Peak did nothing year after year. The top leaders of the mormon church did nothing year after year. So disgusting.
Amazing how they encourage their members to pay their 10% tithe when so many people have a difficult time putting food on the table when this church has billions of dollars in their stash. Would love to see the financial records to see how much of these billions go to the poor. This is very sad and very deceiving.
The clergy don't get paid and you would be astonished how much goes to the poor. Also, the only entity that provides more relief to disaster victims than the church is the government. BTW, tithing is a commandment straight out of the Bible. It may be hard to fathom, but it's done as a gesture of faith, not to fill the church's coffers.
If you hid the gift card money your employer gave you at Christmas of $100 from your taxes, you are fined based of your taxable base that should have been paid. But then you can negotiate with the IRS to reduce those fees always. That being said 5M was negotiated it could be very well what would have been paid in taxes during that tax period audit. Significant money is given by donation to the LDS church. These donations not only are tax free or deductions you make on your taxes but a donee can recieve up to 24k per person per year tax free. My parents commonly give us each 24k to meet that tax bracket. Then you have all that is donated by the LDS church for humanitarian aid, rent, food, other aid which is huge! This is a tax write off. So unless you're an accountant this stuff doesn't make much sense.
The church leadership knew this was happening. They should have their temple recommends revoked as they have not been honest in their dealings. Shame on the LD$ church.
Where is the Church COURT on this misused of The members money 💰 distrustfulness of the Leadership at top.Should do what POPE did resigned, be removed. Look at Prophet Moses, he mess up,and he didn't go into the promise land.
Me too! Funny you can write down where you want to tithe. Mission funds, to the poor or general but they will never show you how much money is in each fund. I’ve known personally several families that needed help and were told no and to ask family or others. They also want all your bills and have to show where your money goes just to say no . Ex Mormon here
@@princessadora it's true, they call it seminary for ages 7-12 You attend seminary from 7-12 and institute for college students. It's all through the mainstream Mormon church. They even have their own church buildings on campus, separate from the school, that are typically right across the street.
They legally investing funds, they didn't hide anything. They didn't break any laws. They are getting fined because the investment group didn't file ONE document. That's it.
Another person who doesn't know what they just heard.... What the church did was a legal way to handle money, the problem is their investment group didn't file the correct document....
Joseph Smith never accepted responsibility for wrong doing and blamed others as a way of avoiding personal accountability. The LDS leadership follow the example established by Joseph Smith with regard to blaming others for wrong doing.
The report also fails to mention that the investments were perfectly legal, and still are! There were no crimes committed, no intentional omissions. They are just getting fined because the investment group didn't file the right document.
@@DoctorKnox From the SEC: "To obscure the amount of the Church’s portfolio, and with the Church’s knowledge and approval, Ensign Peak created thirteen shell LLCs, ostensibly with locations throughout the U.S., and filed Forms 13F in the names of these LLCs rather than in Ensign Peak’s name. We allege that the LDS Church’s investment manager, with the Church’s knowledge, WENT TO GREAT LENGTHS TO AVOID DISCLOSING THE CHURCH'S ASSETS, depriving the Commission and the investing public of accurate market information." Please start thinking for yourself.
@@DoctorKnox Legal? What about ethical? Why does the church seek to hide the information from the public? It seems likely they are afraid of some kind of reaction, but what? I think all tax exempt churches should be required to publicly disclose their finances.
Reading these comments, it’s not hard to see why the church would prefer not to publicly announce its earnings. These earnings are from investments carefully invested over years. Savvy investors take note. How many others can boast of such gains over twenty years? Why hasn’t the church been challenged for its tax exempt status? Because the US in particular receive significant financial assistance in relief when disasters happen. The church does not disclose how much money bishops spend each year helping the poor because it doesn’t have to. I don’t think you’ll find a church that does more for elevating people out of poverty. Almost a billion spent in one year in humanitarian aid projects in countries all over the world. They are the fifth largest private land owners in US. Where can you find shelter in a disaster? In an lds meeting house. Be careful who you throw criticism at, you may just need their charity one day.
Always have been a business,not a church. Only Christian is Jesus Christ "For many shall come in my name " Matthew 7;This very hurtful to members who pay tithing every week. Before anything else.The church gives each general authority one million dollars when they are called to be an Apostle.Second Anointing which most members have no knowledge of.
I bet I could ask the church to send me a copy of every single penny that they gave me to pay my rent, clothes and sometimes food; it would probably be (my guess) close to $10,000 over the course of my life. I struggled with homelessness and drug addiction for many years, and the church supported me. Many of those times I lied about my situation just to get my rent paid and yet they still paid it. And I know I’m not the only one. How about the many times they paid for a detox or rehab not only for me, but many people I know. I have since then turned my life around and I owe most of that to this church. I’m not trying to defend anything that they’ve done wrong, but the church is definitely done right by me.
Judging by the relatively minimal number of upvotes on your comment, I suppose a lot of people here prefer rash judgment of the church. Most people don't have a clue because they are too busy or too lazy, but consider Nielson says the average American watches 29 hours of TV a week, you tell me. I appreciate your comment.
@ I appreciate your positive comment too! Well just as it says in scripture and been going on since day 1; persecution is and always will be a big part of the church. I think the people who stoke the hate against it is kind of unique, I feel like I can see satans signature all over it. I agree, we need to try and detach ourselves from TV and our phones. That’s one thing I have a problem with and another thing Satan does. It’s no suprise that Hollywood and the music industry have people who promote godless and sinful lifestyles, like stories of those who have made the news… the Epstein list, Diddy.
Spirituality, philosophy, ethics and wisdom is free. Religion is a business. All religious organizations need to be fully taxed. no tax breaks for it or its members who choose to donate to it.
They didn't actually violate any laws. Their investments into chairties and LLCs was and still is legal. The investment group didn't file the right document, so they are getting fined fro that. They didn't intentionally hide anything. This isn't a criminal case, like how the media wants to phrase it.
No the church is the biggest scam in Utah... Collecting a billions of dollars tax free from every individual that becomes a part of their church needs to end they need to start taxing this cult
Considering the multi-billions the LDS has 5 million dollars is literally a drop in the bucket. I wonder if the leaders realize the not only the damage this does to their own church but how much damage it does to religion in general, at a time when church attendance everywhere is dropping. Or do they even care?!
They used to drive very high end and expensive trucks here in Uganda but since covid lockdown they are back on foot. I was wondering why the change. Young men was driving nice trucks but not anymore here. I think they didn’t want scrutiny and follow up.
20 years went by and nobody who is within that organization saw an issue with this? I mean, if it was a day, a month, or maybe even a year, I might be more lenient in my train of thought, but 20? That's intentional, that's wrong, that is explicitly contrary to what their rhetoric and doctrine is and stands for. So nobody in the church audits or evaluates or manages these things in a more integral way within the structures of their SOP?!! You're gonna tell me nobody knew? So headquarters know and keep a record of millions of deceased people, and know when each one gets baptized but they don't know that 20 years went by and there was something wrong here? C'mon, stop the cap, as the young people of today would say.
Mistakes do happen. But, it's obvious that the church wished to keep its wealth private. Personally, I don't think tax exempt churches should be allowed to do keep their finances private, although I think that names of individuals should be redacted from public reporting. The LDS church is not the only one to be concerned about.
Are you communist per chance?. Also "The average American spends $75 a month on in-home streaming and entertainment, according to a recent survey by Equitable" - That would help everyone get a free month of netflix, disney, etc...
The church having a large sum of money just sitting idle is wrong, especially if they're keeping it for a rainy day. This implies that the church's faith in God's ability to provide for their financial needs is hypocritical and insincere, yet they teach members to have faith when paying tithes. As a result, members are left struggling to make ends meet. Instead, the church should use the money to carry out more compassionate acts that benefit humanity.
Mostly Charirites and food LLCs. The investments were perfectly legal. They didn't commit any crimes, the are just getting fined because the investment group didn;t file the right document.
Parable of the Talents. The lord in the parable becomes upset with the servant who hides his talent instead of doing something with it. The lord even mentions at the very least the servant could have given it to the money lenders and received usury, ie interest, from it.
@@byuflash2 What a distortion of scriptures! Christ was teaching a principle about using our talents and resources to help others instead of burying it, he was in no way saying that church leaders should get the tithe money and invest in Babylon. He was very clear throughout the New Testament about not accumulating wealth, not holding on to your treasures but instead to be liberal and generous in giving and helping the poor and the needy. Church leaders are genius in distorting the scriptures
Quote "These funds are for the second coming." When Jesus returns he will grab some of that cash and run to his -city creek mall and buy a Rolex and diamonds from tiffany's. Yep the church is true!! And Jesus needs Money.... BTW Mary Magdalene loves pink diamonds. Borrow Elder Hollands limo and surprise her when you come Jesus.
Since 2000, Ensign Peak received and relied upon legal counsel regarding how to comply with its reporting obligations while attempting to maintain the privacy of the portfolio. As a result, Ensign Peak established separate companies (LLCs) that each filed Forms 13F instead of a single aggregated filing. Ensign Peak and the Church believe that all securities required to be reported were included in the filings by the separate companies. In June 2019, the SEC first expressed concern about Ensign Peak’s reporting approach. Ensign Peak adjusted its approach and began filing a single aggregated report. Since that time, 13 quarterly reports have been filed in full accordance with SEC requirements. This settlement relates to how the forms were filed previously. Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution. We affirm our commitment to comply with the law, regret mistakes made, and now consider this matter closed.
Should have had the power of discernment to recognize the shady recommendations. Don’t you think? They admit to doing it to avoid negative perceptions. They sought advice so they could hide the funds. Not so they could be forthright and true in their dealings.
@@mhelm421 they are not hiding if you read correctly the company must protect the privacy the church are following the law but you know the government want to the church out and you know how the evil are doing this to destroy the church
@@mhelm421 Did you notice that that "avoid negative perceptions" is an incomplete siteing of the source? That is a sign that journalists have tampered with a statement. What the church did was invest and use it's investment funds, because they didn't want to just sit on billions of dollars, so they LEGALLY invested in creating multiple LLCs and chairties. This was ALL legal. The only issue was that the INVESTMENT GROUP didn't file the correct document. Nobody "intentionally" hid anything.
Now the church has 70 years worth of grain stored away, can we start to use it bless the lives of the needy? That is what Joseph in the Old testament would do.
Not really,th Church builds nice buildings all over the world as well as books for free and they work with no paying eclesiastical staff.Greetings fgom Costa Rica
I will carry on to pay tithings and other offering.Because it's his Kingdom on the earth,is to prepare the World for the Second coming by building Temple,Missionary work e.t.c all over the world
You better care! especially when you are practicing illegal business! If you were Christian that 32 billion would have been given to feed the needy! Now go and repent! Jesus is watching you!
Until every building open 24/7 doing what Jesus would do the least of his brethren!!! No more gates no more chains across parking lots...just open doors giving relief to all gods children.....ELIMINATE ALL TAX FREE STATUS ALL CHURCHES PERIOD... Their homeless problem solved over night...
They should care because the honesty of the church is important. When you rely on them to guide you own behavior and destiny if you and your family then being led by a church that is purposefully being dishonest should be a cause of concern.
As an LDS member, this does not even bother me at all. The LDS church has at least Billions in investments and there is a reason the church can afford to pay that sum of money, and there is also a reason the church can afford to build so many temples as well. And frankly, nobody really cares except the ones who have a grievance with the church or are looking to tare down the church any way they can.
It is not the church's money! It is the Lord's money! How can mormons claim to be christian, when millions of people are suffering in poverty around the world, and mormons are sitting on 30 Billion dollars they obtained illegally? Every leader should be immediately excommunicated for dishonest business dealings!
l am super excited my financial life has totally changed ever since I ventured into crypto market. Ive been earning over $12,000 every single week. Lol 😊
@Bob Clavile As a newbie, investing in crypto will be the best for you, I know of a portfolio/ investment manager, Mrs Catalina trading services, an expert in trading and investments as you I know stress in trade, She manages my trade.
THEY ASKED US, "ARE YOU HONEST IN YOUR DEALING WITH YOUR FELLOWMAN" THEY DON'T HAVE TO BE HONEST WITH THE MEMBERS
RIGHT?
Only when it serves their purposes…🤥
It really bothers me that this went on for so many years. So many years and several people did nothing. Lawyers did nothing year after year. The people at Ensign Peak did nothing year after year. The top leaders of the mormon church did nothing year after year. So disgusting.
Amazing how they encourage their members to pay their 10% tithe when so many people have a difficult time putting food on the table when this church has billions of dollars in their stash. Would love to see the financial records to see how much of these billions go to the poor. This is very sad and very deceiving.
You know it never when to the poor , the clergy pockets are full that’s where the money goes
The clergy don't get paid and you would be astonished how much goes to the poor. Also, the only entity that provides more relief to disaster victims than the church is the government. BTW, tithing is a commandment straight out of the Bible. It may be hard to fathom, but it's done as a gesture of faith, not to fill the church's coffers.
Yeah... a pack of wolves preying on sheep. Dishonest and deceptive. Crooks.
Try 900 million in aid for the poor in just one year. They advertised this. 😂😂😂
Hello?? They aren’t forced to pay that but they are told we pay as much as we want so check yourself!
Now it’s plain and obvious that the church of Latter Day Saints is just another racket!
Always has been….💰💸💰
Time for everyone to stop paying. They're not honest with you.
Wait...so the church hid tens of BILLIONS of dollars in assets - and is only being fined $5 million dollars??? What's up with THAT?
They gave a few people a bag 🤝
If you hid the gift card money your employer gave you at Christmas of $100 from your taxes, you are fined based of your taxable base that should have been paid. But then you can negotiate with the IRS to reduce those fees always. That being said 5M was negotiated it could be very well what would have been paid in taxes during that tax period audit. Significant money is given by donation to the LDS church. These donations not only are tax free or deductions you make on your taxes but a donee can recieve up to 24k per person per year tax free. My parents commonly give us each 24k to meet that tax bracket. Then you have all that is donated by the LDS church for humanitarian aid, rent, food, other aid which is huge! This is a tax write off. So unless you're an accountant this stuff doesn't make much sense.
They are big campaign donors to the republican party, what do you expect
@@stacy6994 It makes perfect sense, corruption.
Probably utah judges involved paying people off. They all do business dirty. Total hypocrites in everything they do
The church leadership knew this was happening. They should have their temple recommends revoked as they have not been honest in their dealings. Shame on the LD$ church.
Shut up. You act like the sec is honest also. You should have your brain revoked
@@Acf647 That's right, I forget that its the SECs fault the church hides its money in shell corporations.
Where is the Church COURT on this misused of The members money 💰 distrustfulness of the Leadership at top.Should do what POPE did resigned, be removed. Look at Prophet Moses, he mess up,and he didn't go into the promise land.
They should be excommuniccated
Agree 100%
Like I always say at the end of the day all religions are about money
Mormon Money gave 1.2 Billion in charity...leave the Mormons alone.
I want my money back.
Me too.
Are you guys members?
Me too!
Funny you can write down where you want to tithe. Mission funds, to the poor or general but they will never show you how much money is in each fund.
I’ve known personally several families that needed help and were told no and to ask family or others.
They also want all your bills and have to show where your money goes just to say no .
Ex Mormon here
@@FredericFreedom Not anymore.
@@natlove4 ok
Only 5 million dollars?
@Congressman Matt Gaepz Right. I'll bet you have the inside story. 🙄
Right?!?!
I think the 5M dollars is only a gesture or a symbol and this is bad for the Church's PR. IRS will investigate and the big bills may follow.
Questions??
5 mil? Chump change.
Wait - a church, that doesn't pay taxes, owns an investment fund??
They also have churches in every school in Utah and Idaho. 😮
@@makinghay that doesn't sound right
@@princessadora I can assure you that it is true. I drive past one weekly.
@@princessadora it's true, they call it seminary for ages 7-12 You attend seminary from 7-12 and institute for college students. It's all through the mainstream Mormon church. They even have their own church buildings on campus, separate from the school, that are typically right across the street.
@@makinghayAdd southern Nevada to that. There's Mormon meeting houses next to every high school and there's about 30 of them..
Beware of false prophets, who come to you in sheep’s clothing, but inwardly they are ravening wolves. ~ Matthew 7:15
Dead sea scrolls: But be more aware of internet trolls.
Only five million? Someone got paid.
Rusty Buckets…🤫
What happened to, “…we believe in being honest.true,..”
They legally investing funds, they didn't hide anything. They didn't break any laws. They are getting fined because the investment group didn't file ONE document. That's it.
Those LDS leaders should step down and have their temple recommends removed! They are not being honest with their dealings!!!
Knock it off!!!!
Not a single church leader is honest
But they had their second anointings, so no-one has the authority to do that. They are gods!
@@hobgoblin1976 second what? Thats not in the Bible homes.
@@cwn89015 wake up buddy
Ahh, even for a church, "For the love of money is the root of all evil.".
Another person who doesn't know what they just heard.... What the church did was a legal way to handle money, the problem is their investment group didn't file the correct document....
Hence the reason why Ensign Peak is Paying 4 Million of the 5!
If I heard it on the news, it's 100% true....Funny how no one trusts the media anymore, unless its exactly what they want to hear.
I say churches start paying taxes!!
I say, govt reduce its 45% of GDP spending and up to 50% on income taxes (fed+state). That's a crime against humanity.
Wait, you’re saying the LDS church is deceitful and misleading?? Well that’s news to no one!
😂🤣😂
Hahahah
People should care that the church did not follow the principle of being honest in all dealings as their members are commanded to do. Hypocrisy.
If I had to be honest about my tithing even as a child then the church has to be honest with their finances too
BYU:
Billion$ Yearly Untouched
LDS:
Laundering Dollars Shamelessly
Ok who cares
BYU,it's not for poor members who have just enough to live on.BYU for the Mormon upper Class
@@Acf647 Those who have honesty as a principle care. Plainly the Church leaders do not care. Nor do they care about YOU!.
Laundering? You dont understand it.
@@brentwooden7995 My friends from Africa go there. Came over with $300. Plz. Also some of the cheapest colleges in the country. Look it up.
Joseph Smith never accepted responsibility for wrong doing and blamed others as a way of avoiding personal accountability. The LDS leadership follow the example established by Joseph Smith with regard to blaming others for wrong doing.
Actual Smith did not, he is very different from todays leaders
Shocking….like literally we all knew it was happening….
Look up the godmakers by William cooper it explains everything
Honestly?
Yeah the case document is really important to read
Time for religion to pay taxes.
They're not a church. They're a business.
Report dosen't care to mention that ensign peak and the church have been in compliance sense 2019. Why is that?
Because they are reporting on the church hiding funds and lying. Honest? True? Obeying the law of the land?
The report also fails to mention that the investments were perfectly legal, and still are! There were no crimes committed, no intentional omissions. They are just getting fined because the investment group didn't file the right document.
@@DoctorKnox From the SEC:
"To obscure the amount of the Church’s portfolio, and with the Church’s knowledge and approval, Ensign Peak created thirteen shell LLCs, ostensibly with locations throughout the U.S., and filed Forms 13F in the names of these LLCs rather than in Ensign Peak’s name.
We allege that the LDS Church’s investment manager, with the Church’s knowledge, WENT TO GREAT LENGTHS TO AVOID DISCLOSING THE CHURCH'S ASSETS, depriving the Commission and the investing public of accurate market information." Please start thinking for yourself.
@@DoctorKnox Legal? What about ethical? Why does the church seek to hide the information from the public? It seems likely they are afraid of some kind of reaction, but what? I think all tax exempt churches should be required to publicly disclose their finances.
The Mormon Church IS their own investment firm!
.....That's the catch....the loophole....the big secret!!!!!
Can we have truth and transparency on the federal government please?
Religious people lie?!?!?! Get outta here
Who would have imagined!!!
I am shocked, shocked!
Well, maybe not THAT shocked.
tithe payers should be able to sue the LDS church for misleading them
Scientology is like " We need to hold a meeting NOW!!! "
Wake up people ! start asking questions.
People don’t want to ask questions. That’s why they join cults…I mean religion
I ask thousands of questions, like why dont people do their own research more instead of listing to talking heads online.
When and will the leaders speak publicly about this?!
This will be swept under the rug like every other issue in the church 🤣
I wish I was surprised.
Reading these comments, it’s not hard to see why the church would prefer not to publicly announce its earnings. These earnings are from investments carefully invested over years. Savvy investors take note. How many others can boast of such gains over twenty years? Why hasn’t the church been challenged for its tax exempt status? Because the US in particular receive significant financial assistance in relief when disasters happen. The church does not disclose how much money bishops spend each year helping the poor because it doesn’t have to. I don’t think you’ll find a church that does more for elevating people out of poverty. Almost a billion spent in one year in humanitarian aid projects in countries all over the world. They are the fifth largest private land owners in US. Where can you find shelter in a disaster? In an lds meeting house. Be careful who you throw criticism at, you may just need their charity one day.
Sounds like a business to me. Change tax status.😁
Always have been a business,not a church. Only Christian is Jesus Christ "For many shall come in my name " Matthew 7;This very hurtful to members who pay tithing every week. Before anything else.The church gives each general authority one million dollars when they are called to be an Apostle.Second Anointing which most members have no knowledge of.
Jealous sad people dont know better
Do something better for yourselfs
I bet I could ask the church to send me a copy of every single penny that they gave me to pay my rent, clothes and sometimes food; it would probably be (my guess) close to $10,000 over the course of my life. I struggled with homelessness and drug addiction for many years, and the church supported me. Many of those times I lied about my situation just to get my rent paid and yet they still paid it. And I know I’m not the only one. How about the many times they paid for a detox or rehab not only for me, but many people I know. I have since then turned my life around and I owe most of that to this church.
I’m not trying to defend anything that they’ve done wrong, but the church is definitely done right by me.
Judging by the relatively minimal number of upvotes on your comment, I suppose a lot of people here prefer rash judgment of the church. Most people don't have a clue because they are too busy or too lazy, but consider Nielson says the average American watches 29 hours of TV a week, you tell me. I appreciate your comment.
@ I appreciate your positive comment too! Well just as it says in scripture and been going on since day 1; persecution is and always will be a big part of the church. I think the people who stoke the hate against it is kind of unique, I feel like I can see satans signature all over it.
I agree, we need to try and detach ourselves from TV and our phones. That’s one thing I have a problem with and another thing Satan does. It’s no suprise that Hollywood and the music industry have people who promote godless and sinful lifestyles, like stories of those who have made the news… the Epstein list, Diddy.
Spirituality, philosophy, ethics and wisdom is free. Religion is a business. All religious organizations need to be fully taxed. no tax breaks for it or its members who choose to donate to it.
What would Jesus do?
Something is dirty here
Not surprised at the least.
Yeah.. but they’ll all keep giving away 10% of their income even though they’re struggling.
Widow and her two mites. Besides, why do you just look at one side of the accounting equation?
There are no coincidences.
Be sure to pay your way into heaven so they can invest it and violate laws
They didn't actually violate any laws. Their investments into chairties and LLCs was and still is legal. The investment group didn't file the right document, so they are getting fined fro that. They didn't intentionally hide anything. This isn't a criminal case, like how the media wants to phrase it.
@@DoctorKnox I suggest you read the case document
Maybe the church isn't true after all???
No the church is the biggest scam in Utah... Collecting a billions of dollars tax free from every individual that becomes a part of their church needs to end they need to start taxing this cult
Boots Armstrong, any church that doesnt follow the bible completely is not the true church
Ya think?
$5M do you think they can afford it?
The tea ahem Kool aid...keeps coming out... hallelujah!!!
Considering the multi-billions the LDS has 5 million dollars is literally a drop in the bucket. I wonder if the leaders realize the not only the damage this does to their own church but how much damage it does to religion in general, at a time when church attendance everywhere is dropping. Or do they even care?!
They used to drive very high end and expensive trucks here in Uganda but since covid lockdown they are back on foot.
I was wondering why the change. Young men was driving nice trucks but not anymore here.
I think they didn’t want scrutiny and follow up.
And so it begins.
But they won't go after Pelosi or Biden. Keep reading.
Begin what?
Oh how I wish, but have you read some of these comments here? The brainwashing is very strong.
Wow, big lies and corruption.
20 years went by and nobody who is within that organization saw an issue with this? I mean, if it was a day, a month, or maybe even a year, I might be more lenient in my train of thought, but 20? That's intentional, that's wrong, that is explicitly contrary to what their rhetoric and doctrine is and stands for. So nobody in the church audits or evaluates or manages these things in a more integral way within the structures of their SOP?!! You're gonna tell me nobody knew? So headquarters know and keep a record of millions of deceased people, and know when each one gets baptized but they don't know that 20 years went by and there was something wrong here? C'mon, stop the cap, as the young people of today would say.
Mistakes do happen. But, it's obvious that the church wished to keep its wealth private. Personally, I don't think tax exempt churches should be allowed to do keep their finances private, although I think that names of individuals should be redacted from public reporting. The LDS church is not the only one to be concerned about.
Tax-free billions. $5M fine. 🤔
No, they paid the taxes. Read the actual story.
5 million?
Know a few senators do you?
TAX ON CHURCHES
You could give every single person on the continent of North America at least $70 with that money
That's only part of it. There's at least $250 bn
Are you communist per chance?.
Also "The average American spends $75 a month on in-home streaming and entertainment, according to a recent survey by Equitable" - That would help everyone get a free month of netflix, disney, etc...
5 Million is NOTHING
What will their explanation be?
Not beginning to be enough
I wonder who has to pay those 5million
I've beeb brutally told off from members, who question my worthyness, as if I was the one who decided to do these questionable acts!
The church having a large sum of money just sitting idle is wrong, especially if they're keeping it for a rainy day. This implies that the church's faith in God's ability to provide for their financial needs is hypocritical and insincere, yet they teach members to have faith when paying tithes. As a result, members are left struggling to make ends meet. Instead, the church should use the money to carry out more compassionate acts that benefit humanity.
It’s a cult
Why? What's wrong with that? Religion is a business anyway, without money involved church won't exist!
Starting with Joel Osteen..
All churches need to lose their tax exempt status. ...
@@bribri6985 well no not "starting with" but definately included
32 billion needed to EXIST?
@@kristiskinner8542 true true
what about the 10 year old wives?? where's the charges for that?
Yeah wrong church- thats the FLDS, not the LDS
thats being investigated too Cody Williams
@Kristi Skinner I'm sure they take part too, they just keep it hidden unlike the others
It was 14 years old. Joseph Smith had two of those
@@iamcodywilliams oh shut it no they dont
What do they invest in?
Mostly Charirites and food LLCs. The investments were perfectly legal. They didn't commit any crimes, the are just getting fined because the investment group didn;t file the right document.
I wasn't aware that Apple, Microsoft, Amazon and Disney were charities 😅
@@chlodapro Deseret Industries.... 🫡
Richard Knox, - The Church IS their OWN investment firm!!!!!
That's the catch...the loophole....the big secret!!!
Have they stopped asking about honesty in business dealings for temple recommends?
For the last time… they do not force us or tell us that we have to pay 10% they said that if they are willing and are comfortable to pay..
Edmund Act ⚖️👩⚖️🇺🇸 end poyigamy in Utah👍
One side question. I am looking for a biblical reference where Jesus Christ or St Paul discuss investment arms of the Christian Church.
Parable of the Talents. The lord in the parable becomes upset with the servant who hides his talent instead of doing something with it. The lord even mentions at the very least the servant could have given it to the money lenders and received usury, ie interest, from it.
@@byuflash2 Thank you. So the idea is to have a parallel economy?
@Charles Mendeley You asked for a Biblical reference to investing, and I provided one. I have no idea where parallel economy came in on that one.
@@byuflash2 What a distortion of scriptures! Christ was teaching a principle about using our talents and resources to help others instead of burying it, he was in no way saying that church leaders should get the tithe money and invest in Babylon. He was very clear throughout the New Testament about not accumulating wealth, not holding on to your treasures but instead to be liberal and generous in giving and helping the poor and the needy. Church leaders are genius in distorting the scriptures
5 million! It’s obvious they have more and someone got paid.
Nicely done!!
just the tip of the iceberg. $5M is nothing.
Quote "These funds are for the second coming." When Jesus returns he will grab some of that cash and run to his -city creek mall and buy a Rolex and diamonds from tiffany's. Yep the church is true!! And Jesus needs Money.... BTW Mary Magdalene loves pink diamonds. Borrow Elder Hollands limo and surprise her when you come Jesus.
I wonder how many families in poverty The church of Jesus Christ of Latter-day Saints supports.
Whatever the number, it seems like maybe they could do more.
Since 2000, Ensign Peak received and relied upon legal counsel regarding how to comply with its reporting obligations while attempting to maintain the privacy of the portfolio. As a result, Ensign Peak established separate companies (LLCs) that each filed Forms 13F instead of a single aggregated filing. Ensign Peak and the Church believe that all securities required to be reported were included in the filings by the separate companies.
In June 2019, the SEC first expressed concern about Ensign Peak’s reporting approach. Ensign Peak adjusted its approach and began filing a single aggregated report. Since that time, 13 quarterly reports have been filed in full accordance with SEC requirements.
This settlement relates to how the forms were filed previously. Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution.
We affirm our commitment to comply with the law, regret mistakes made, and now consider this matter closed.
Should have had the power of discernment to recognize the shady recommendations. Don’t you think?
They admit to doing it to avoid negative perceptions. They sought advice so they could hide the funds. Not so they could be forthright and true in their dealings.
@@mhelm421 they are not hiding if you read correctly the company must protect the privacy the church are following the law but you know the government want to the church out and you know how the evil are doing this to destroy the church
@@mhelm421 Did you notice that that "avoid negative perceptions" is an incomplete siteing of the source? That is a sign that journalists have tampered with a statement. What the church did was invest and use it's investment funds, because they didn't want to just sit on billions of dollars, so they LEGALLY invested in creating multiple LLCs and chairties. This was ALL legal. The only issue was that the INVESTMENT GROUP didn't file the correct document. Nobody "intentionally" hid anything.
So, no more shell companies? A new commitment to transparency to avoid the very appearance of evil? I bet not, but hope to be wrong.
@@xapimaze yes you are wrong!!!
Now the church has 70 years worth of grain stored away, can we start to use it bless the lives of the needy? That is what Joseph in the Old testament would do.
How?
@@rboddington You don't know how to assist the needy?
Not really,th Church builds nice buildings all over the world as well as books for free and they work with no paying eclesiastical staff.Greetings fgom Costa Rica
I will carry on to pay tithings and other offering.Because it's his Kingdom on the earth,is to prepare the World for the Second coming by building Temple,Missionary work e.t.c all over the world
you dont know what else they plan to do with that money im willing to bet its on something else members dont know about
So do Morons care? I would not be happy but i am nit Mrmom. Sounds pretty greedy to me.
Deuteronomy 13:3
How nice members money has to pay 5 million dollars 💵
Corporate greed and lack of faith in the future. Build my house!!!!’
Prayers to you. Praise to the most high 🙏🏼🦅🗽🇺🇸⚖️
I'm LDS I don't care what the world says !!!
And we don't care what u Jesus freaks say either 🤦🏾♂️
Keep paying your 10% haha
Gustavo abalone, You should care.
You better care! especially when you are practicing illegal business! If you were Christian that 32 billion would have been given to feed the needy! Now go and repent! Jesus is watching you!
So you don’t care about “obeying, honoring, and sustaining the law,” Articles of Faith 1:12?
The church has literally been stocking my wife for 30 years it's a colt.
'what you need is someone to guide you...' all credit to Maynard
Missionary work and building Temples are expensive
Why are you guys just barely covering this?
Until every building open 24/7 doing what Jesus would do the least of his brethren!!! No more gates no more chains across parking lots...just open doors giving relief to all gods children.....ELIMINATE ALL TAX FREE STATUS ALL CHURCHES PERIOD...
Their homeless problem solved over night...
$32B ?
that’s a nice nest egg
They should care because the honesty of the church is important. When you rely on them to guide you own behavior and destiny if you and your family then being led by a church that is purposefully being dishonest should be a cause of concern.
Informative, thank you ❤️
As an LDS member, this does not even bother me at all. The LDS church has at least Billions in investments and there is a reason the church can afford to pay that sum of money, and there is also a reason the church can afford to build so many temples as well. And frankly, nobody really cares except the ones who have a grievance with the church or are looking to tare down the church any way they can.
It is not the church's money! It is the Lord's money! How can mormons claim to be christian, when millions of people are suffering in poverty around the world, and mormons are sitting on 30 Billion dollars they obtained illegally? Every leader should be immediately excommunicated for dishonest business dealings!
I assure you, this isn't the only thing the church has hid from you. There are mountains more.
I mean, they should tear it down. They have done awful things to many
It must be nice to have 10 sisters wives that’s way it doesn’t bother you.
Open your eyes little child, so you can see.😇
Joseph was a treasure digger from the start.
🌰
big surprise there.
😎
That beard though...
@@JCHRIST You’re probably right. Wasn’t meaning to make fun. It was just impressively bushy!
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😢
Nephi killed laban
And Joseph Smith wanted Governor Boggs death.
It's not wealth!!!
If 32 billion dollars isn't wealth, what, then, IS IT?
@@terrancenorris9992 It's Resources. No one person is getting rich off of this.
@@cwn89015 Yeah, right.
*Somebody* is making use of all that money.
@@starguy2718 many great things will be done with that. It didn't matter to me what the amount was.
@cowan daniel great things like temples in every city ?