[Update 11/25/2015 added a few images created by others]
Corporation of the President (Corporate Sole all assets owned by President of the Church)
Board of Directors -> First Presidency and 12 apostles
Investigation by Reuters in collaboration with sociology professor Cragun estimates that the LDS Church is likely worth $40 billion today and collects up to $8 billion in tithing each year.
In 1960, President McKay decided that all general authorities, including the prophet should receive equal salaries
Corporation of the Presiding Bishopric
Deseret Management Corp – Keith B. McMullin is CEO Board(First Presidency, Presiding Bishopric and three rotating of the 15 apostles)
annual revenue of $1.2 billion 10% flows back to the corporation of the presiding bishopric. Kieth McMullin (former Presiding Bishopric member) stated that money can flow from the church to the corporations but happens rarely.
about 2,000 to 3,000 employees. possibly including 1,400 “people who are volunteering their time and their services—some are part-time and some are volunteer.” Many of these members being asked to serve full- or part-time are retirees.
- Beneficial Financial Group (chairman: Harold C. Yancey Board Members (Kim Clark, Ned Hill) CEO (Kent Cannon): insurance, investment, and retirement services. Assets worth $3.3 billion (source: Hoover’s Company Records)
- Bonneville International Corporation (CEO: Jeff Simpson president: Darrell Brown Board Members: Mark Willes, Paul Leonard Jr., Jim Wall, Clark Gilbert, Roland Radack, Sheri Dew, Jane Johnson, D. Bullock): manages radio stations nationwide. Gordon B. Hinkley was chairman of the board until 1993
- Bonneville Communications
- Bonneville Interactive
- Bonneville Satellite Company
- KSL-1160 **
- KSL-FM/KSFI-100.3 * (FM100)
- Deseret Book (Chairman: Sherry Dew) Board (JoAnn Mills Ardeth Greene Kapp ) : LDS publisher and bookstores chain.
- Beehive Clothing
- Bookcraft (merger)
- Deseret Mutual: Provides medical, dental, life, and disability insurance, retirement and savings benefits to Deseret Management Corporation employees, and health insurance to LDS Missionaries and General Authorities.
- Deseret News Publishing Company: Publishes Utah’s second-largest daily newspaper, the Deseret News, along with Mormon Times, Church News and El Observador.
- Hawaii Reserves: manages commercial and residential properties in Lā’ie, ( 7,000 acres on Oahu) Hawai’i.
- Laie Water Company
- Laie Treatment Works
- Laie Shopping Center
- Laie Park
- Laie Cemetery
- Hukilau Beach Park
- HRI also owns many residential and commercial properties in the town as well as road management and public works service
- Temple Square Hospitality: operates downtown Salt Lake City properties such as the Lion House and the Joseph Smith Memorial Building. (550 employees, 4 restaurants)
- Zions Securities: Real estate company which manages apartments and commercial property, particularly in downtown Salt Lake City.
- The LDS Foundation is the department of The Church of Jesus Christ of Latter-day Saints that encourages and facilitates voluntary charitable contributions to the Church Educational System and other charities of the Church. It now operates under the direction of the Presiding Bishopric (This company reports directly to the DMC yet is called a department)
- LDS Philanthropies – a department of the Office of the Presiding Bishopric responsible for philanthropic donations to The Church of Jesus Christ of Latter-day Saints and its affiliated charities. (Seems to be an actual department, but operates similar to a stand alone Non-profit)
- Deseret Digital Media: Operates the Web sites of other DMC media companies:
- FM100.com, and
- Deseret Media Companies: Helps operate Deseret Management’s media focused subsidiaries.
- KSL Broadcast Division: Operates KSL-TV & KSL Newsradio in Salt Lake City, Utah, for the Bonneville International Corporation.
Intellectual Reserve, Inc (IRI) is a non-profit corporation (the actual “Church” part of the church
- Correlation committee fits here
Deseret Industries (D.I.) is a non-profit organization and a division of Welfare Services of The Church of Jesus Christ of Latter-day Saints (LDS Church)
Deseret Ranches – ranching operations of Corporation of the President of The Church of Jesus Christ of Latter-day Saints in Central Florida. The Ranches include several organizations including:
- $1 billion, 290,000-acre Deseret Ranches in Florida
- Deseret Cattle and Citrus
- Taylor Creek Management
- East Central Florida Services
- Farmland Reserve.
- Hunting preserve (Elk ranch) generating $100,000 annually.
1 million acres in the continental U.S
Ensign Peak Advisors – investment management affiliate of the Church of Jesus Christ of Latter-Day Saints. Listed as 50 N. Temple (Church Headquarters) as the company’s address. Sells shares of stock. President Roger G. Clarke
Polynesian Cultural Center (PCC) – in 2010, net assets worth $70 million and collected $23 million in ticket sales alone, as well as $36 million in tax-free donations
Universities and Schools
- Brigham Young University (often referred to as BYU or, colloquially, The Y) is a private university located in Provo, Utah, United States. It is owned and operated by The Church of Jesus Christ of Latter-day Saints (LDS Church), and, excluding online students, is the largest religious university and one of the largest private universities in the U.S., with 34,000 on-campus students
- BYU Idaho (Chairman: Kim Clark)
- BYU Hawaii
- LDS Business College (LDSBC) is a two-year college in Salt Lake City, Utah, focused on training students in business and industry. The college is owned by The Church of Jesus Christ of Latter-day Saints (LDS Church) and operates under its Church Educational System
Elementary and secondary schools
- Academia Juárez
- Preparatoria Benemérito de las Américas (Mexico City) — On January 29, 2013, the LDS Church announced the school would be closed and converted into a Missionary Training Center (MTC) at the end of the 2012-2013 school year. The new MTC opened in June 2013.
- Moroni High School (Kiribati)
- LDS Primary School (Fiji)
- LDS Church College (Fiji)
- Church College of Western Samoa (Samoa)
- Sauniatu Primary School (Samoa)
- Vaiola (Fusi) Primary School (Samoa)
- Church College of Savaii (Samoa)
- Liahona High School (Tonga)
- Saineha High School (Tonga)
- Liahona Middle School (Tonga)
- E’Ua Middle School (Tonga)
- Havelu Middle School (Tonga)
- Saineha Middle School (Tonga)
- Pangai Middle School (Tonga)
- Pakilau Middle School (Tonga)
MDU Resources Group, INC. – Purchases stock from Ensign Peak Advisors
Zions Securities Corporation (ZSC) is a subsidiary of Property Reserve Inc., which manages property owned by the Corporation of the President of The Church of Jesus Christ of Latter-day Saints. January 2012, Zions Securities Company changed its name to Utah Property Management Associates, LLC, (UPMA)
- Class A Commercial buildings
- Beneficial Tower
- City Creek Center (Spencer P. Eccles from the Utah Governor’s Office of Economic Development, the mall cost the church an estimated $2 billion, part of the $5 billion church-funded revamping of downtown Salt Lake City
- Deseret News Building
- Eagle Gate Plaza & Office Tower
- Key Bank Tower
- Social Hall Plaza
- Triad Center
- Zions Bank BuildingM
- Class B Commercial buildings
- 139 E. South Temple
- JC Penney Building
UPMA also owns and operates several other commercial properties in downtown Salt Lake City, including the McIntyre Building, Deseret Book Building, Orpheum Office Plaza, and the Eagle Gate Parking Plaza.
UPMA currently owns and operates the following residential properties in and around Salt Lake City:
- Brigham Apartments
- Colonial Court Apartments
- Eagle Gate Apartments
- Gateway Condominiums
- West Temple Apartments
- Garden Apartments
- First Avenue Apartments
Mixed use properties
- City Creek Center (Salt Lake City, Utah)
- Lake Park Corporate Centre (Salt Lake City, Utah)
- Highbury at Lake Park (West Valley City, Utah)
- Shoal Creek Valley (near Liberty, Missouri)
- 2% of Florida
- AgroReservas Do Basil Ltda
- Agreserves Australia LTD Kooba Station,Australia.
- Deseret Ranches of Alberta Raymond,AB Canada
- Agreserves LTD Cambridge,England
- AgroReservas, S.C. Los Mochis, Mexico
- Deseret Farms of CA Woodland, CA
- Deseret Farms of CA Modesto,CA
- Deseret Farms of CA Chico,CA
- South valley Farms Bakersfield, CA
- Deseret Security Farms Blythe, CA
- Naples Farms Naples,FL
- Deseret Cattle & Citrus ST. Cloud, FL
- Deseret Farms of Ruskin Ruskin, FL
- Kewela Plantation O’ahu,HI
- Rex Ranch Ashby, NE
- Riverbend Farms ST.Paul, OR
- Deseret Land & Livestock Woodruff, UT
- Wasatch-Dixie Farms Elberta, UT
- Agreserves Cottle CO.,TX
- Agrinorthwest kennewick,WA
- Handcart Ranch Alcova, WY
- Deseret Ranches of Wyoming Cody,WY
Farm Management Corporation (commericial farms and agricultural properties)
Deseret Land and Livestock – 200,000 acres of land in Rich, Morgan and Weber counties (Utah)
Sun Ranch (Martin’s Cove)
Deseret Ranches of Florida (Orlando) (largest ranch in Florida)
Deseret Farms of California
Rolling Hills (Idaho)
West Hills Orchards (Elberta, Utah)
Cactus Lane Ranch (Arizona)
Deseret Trust Company
LDS Family Services
Property Reserves Inc. (PRI)
Deseret Mutual Benefit Administrators (DMBA) – http://www.dmba.com/
Welfare Square is a complex in downtown Salt Lake City, Utah owned and operated by The Church of Jesus Christ of Latter-day Saints
According to an official church Welfare Services fact sheet, the church gave $1.3 billion in humanitarian aid in more than 178 countries and territories during the 25 years between 1985 and 2010. A fact sheet from the previous year indicates that less than one-third of the sum was monetary assistance, while the rest was in the form of “material assistance.” All in all, if one were to evenly distribute that $1.3 billion over a quarter-century, it would mean that the church gave $52 million annually. A study co-written by Cragun and recently published in Free Inquiry estimates that the Mormon Church donates only about 0.7 percent of its annual income to charity http://mobile.businessweek.com/articles/2012-07-10/how-the-mormons-make-money
“Like most major churches, the exact tally of LDS assets is difficult to come by. In July 2007, the Salt Lake Tribune covered an Oregon Supreme Court ruling ordering the church to publicize its financials in connection with a lawsuit from an alleged abuse victim, noting that it had not disclosed such information since 1959. In 1997, Time Magazine found that current LDS assets totaled $30 billion. If LDS were a corporation, Time continued, its estimated $5.9 billion in annual revenues would have placed it midway through the Fortune 500.
The LDS church has taken ambitious strides to preserve and grow its wealth over the years. Beneficial Financial Group, a $3.1 billion insurance company with annual revenues exceeding $600 million, is wholly owned by the church. LDS also owns theDeseret Morning News, Utah’s second-largest newspaper. Bonneville International Corporation, which controls over two dozen top radio stations across six states, is also wholly owned by LDS through Deseret Management Corporation, the church’s for-profit arm. Another $6 billion of church money was said by Time to be tied up in “unspecified investments.” All of these activities, it should be noted, are categorized as “unrelated business income” and subject to state and federal taxes.”
Slightly older image (1991) but more complete:
I have often been told that the Church is a non profit making organisation, and was dependant on the tithes and offerings paid by the membership. I have also been told that the General Authorities live the law of consecration, and have been independently wealthy enough to be a lay leadership. In fact the Church claims that it has an unpaid ministry. I have no issue with the brethren receiving financial assistance, but do not like the pretence. It is one rule for the General Authorities, and another for the local membership. I believe that many of the brethren are directors of these various business interests, and therefore must spend a large amount of their time managing these businesses, rather than serving in their callings, as they are full time callings. If so then they are either full time employees of these businesses, and should provide a full days work for a full days pay, and avoid robbing their employee, ie the church membership of their time, something these brethren regularly teach at General Conference, or they are Full time servants of The Lord, being paid by these businesses for nominal involvement, and are therefore a paid ministry. I cannot see how it can be both. There is probably some lengthy explanation of all this, which allows them to justify the contradictions, but I doubt that it squares up to the moral code of the scriptures. When discussing my concerns regarding certain events in Church history, or church doctrines, and policies, I am often asked, well why do the brethren serve as they do, I think the answer to that question is now obvious. They are paid employees of the church, set up in such a way that the truth of this is obscured.
It is simple and works like this:-
The Church owns profit-making businesses. The profits are used to pay for the staff of these corporations. None of the tithes and offerings of the Church are used to pay these employees.
Can you cite sources on that? Because that is simply not true.
The church has no money that didn’t start as tithing.t
Minor correction… KIRO has actually been 97.3 FM for several years now. I think the church kept the 710 AM frequency for another station, though. Bonneville probably officially owns both.
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What about temple compounds in Rome or Philadelphia?
. . .the same organization that existed in the primitive church.
@ Mithryn, Can you cite sources stating that it’s not true?
Book of Mammon
D. Michael Quinn’s new book of Church Finances.
In addition, I worked as a consultant for Beehive Clothing. I worked for Deseret Industries. Both told employees their paychecks were less because they were using the “Lord’s funds” and “widow’s mite”
In addition, the marketing department of Deseret Management is told they are paid from tithing (source, two friends who work there).
Deseret Industries runs at a loss every year, but is still in Business.
Deseret Book runs at a loss every year, but has the losses made up for by stock purchases from the church via tithing funds. Source: Top executive at Deseret Book.
The top three sources will support my personal experience and experiences of people around me.
But my claim that a billion dollar organization uses its income to pay its employees is not remarkable. The claim that the church doesn’t use tithes is remarkable, hence my request for sources claiming that tithes are not used to pay workers.
Further, one can see on my Tithing Bailout timeline that historically the church used funds to bail out the Utah Loan and Trust, the sugar company, and many for-profit efforts. Beneficial Life has it’s own post on my blog detailing the use of tithing funds to bailout bad investments (and keep the lights on including paying employees).
The post on Henry D. Moyle details his creation of property reserve Inc in 1961, and almost bankrupting the church by funneling tithing into it.
There is ample evidence that tithes are used to bolster for-profit companies, though usually through some laundering
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