THE MORMON CURTAIN
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MORMON MONEY - SECTION 3
Topics surrounding the Church Of Jesus-Christ of Latter-Day-Saints annual income and spending. A Mega-Billion dollar tax-exempt corporation hiding behind the guise of a "Church". It is estimated that the LDS Church earns an average of 60 Billion dollars a year in holdings and 7 Billion dollars a year in annual member "Tithing".
| For anyone who may have missed it, about a month ago, the State of Florida expressed an interest in tapping into Deseret Ranch's lake (constructed with public funds) to ease the water troubles of nearby towns.
Deseret Ranch decided it would be happy to oblige....for millions of dollars in fees.
Believing things like water to be a public resource, St. Johns River Water Management District has filed a lawsuit against the ranch, and the morg brought out its legal team. It is expected to take up to 2 years to resolve the dispute, taking all the appeals into account.
Apparently their humanitarian aid doesn't extend to providing water to locals from government funded projects.
| "In an emergency meeting on Friday, Saratoga Springs council members voted unanimously to purchase $62 million-worth of federal water for The Church of Jesus Christ of Latter-day Saints.
As part of the agreement, the city also agreed to annex nearly 3,000 acres of church farmland and will compel some smaller landowners to join the annexation. The water will allow the business arm of the church to develop its land, plus as much as several thousand more acres in the area, building up to 20,000 homes, nearly quadrupling the city's population.
The deal, which gives the church 10,000 acre-feet of water, is unusual on several fronts.
For starters, the $62 million must be paid in a single lump on July 1, 2019. In addition, beginning in 2020, the city must pay $3 million a year, in perpetuity, and that payment will rise over time to an unknown amount, and must be paid whether the city uses the water or not. Initially, the church will pay the annual fee as well, and as homes are developed, owners will take over those payments in the form of their water bill.
Both the annual payments and the lump-sum will be paid to the Central Utah Water Conservancy District for water being piped through Spanish Fork Canyon.
The city does not have the money.
"Once the city signs [the deal], we cannot change it or back out of it or anything, and we don't have $62 million," said city manager Ken Leetham.
A representative of the LDS Church who spoke in the meeting declined to verify his name or who he was representing when asked by the Daily Herald. The city confirmed his name as Roger Childs, and his employer as the development arm of the Corporation of the Presiding Bishopric of the LDS Church."
HOW is Sarasota Springs coming up with $62M to buy the water? From the same report:
"To get the money, the city is requiring the church to deposit $62 million in a Zions Bank account 12 months before the payment is due. In addition, in case for some reason the church does not come through with the money, the city required the church to put a $62 million trust deed on 2,800 acres the city will annex. The city would be able to sell that land to come up with the money, should the church fail to pay.
The city did not put out notices of the meeting until Thursday and never mentioned the $62 million on public notices. Rather, notices said only that the city would consider "the purchase of water rights." For what may be the largest financial deal in the city's history, not a single member of the public was present."
"As part of the deal, Saratoga Springs granted to the church the right to develop the equivalent of 20,000 residential units on land that has not even been zoned yet.
"What is the city going to get out of this?" Godfrey asked rhetorically. "I think we need to acknowledge candidly that we are committing to some significant density on this property even though it is not zoned. I think we need to enter into this contract with eyes wide open."
To make the issue more complex, city staff said that because the land has not been zoned, those "equivalent" residential units could actually be industrial, retail or high-density housing.
Until recently, the city has specifically turned down offers to purchase this water, saying that they wanted to work on their own system of culinary wells instead. But that all changed when the church approached the city about six months ago.
"They have several thousand acres they will develop in the future, and they wanted to take advantage of the discounted Central Utah Water product," said a staffer."
Meanwhile on the missionary front, members are still being 'encouraged' by church leaders to provide housing for mishies (at a small fraction of fair market rental value), which reduces LD$, Inc.'s costs at a time when the $2B SLC mall-and-condos project in SLC and the church's new, $35M hotel-in-Hawaii project move ahead.
The BBC reported three months ago that, according to UN's Food and Agriculture Organization, the no. of people who are going hungry has reached 1 billion (ref. http://news.bbc.co.uk/2/hi/europe/810...).
$62 million would feed about 15,000 people for a decade. Pres. and CEO Jesus Christ, however, apparently wants thousands of acres in UT to be developed as yet another commercial real estate venture of his 'one, true' church, LD$, Inc.
| Isn't buying up water rights part of the for profit arm of the church? But they're calling unpaid senior missionaries to do it. This is a pdf from lds.org showing current needs and openings for senior missionaries.
On page 6 was this opening:
"WATER RESOURCES SPECIALIST: Individuals or couples
with an engineering and administrative background in
water resources and water rights are needed to serve
Natural Resources Section of the Real Estate Division
in the Physical Facilities Department at the Church
Office Building in Salt Lake City.
The individuals will assist in protecting the Church’s
water rights in Arizona, Idaho, Utah, and Washington,
and the other eleven (11) western states. The spouse
would perform clerical or office support items, unless
also qualified on water-related topics. A minimum of
32 hours per week is expected; length of service is negotiable
(generally 18–24 months).
A technical background in water resource issues in any
of the eleven (11) western states is required. A professional
engineering license as a civil engineer or other
engineering discipline is desirable, but not necessary."
It doesn't look like they're stopping in just Utah, Nevada, and Florida. The posting says 11 western states.
Naturally they assume that the male has the engineering degree.
| My brother-in-law came to visit last weekend. As science geeks, we tried to see a shuttle launch while he was here (the launch was canceled 11 minutes before liftoff because of weather – ugh!). On the way to watch the launch we stopped by Deseret Citrus and Cattle Ranch to see the Mormon Church’s ranching operations.
Alas, as former Mormons, we failed to consider that they wouldn’t offer tours on Sunday. But we stopped by the Visitor’s Center anyway and drove around a bit.
I knew from the Deseret Ranches’ website and this wikipedia page that the ranch was big, but actually driving around the ranch made me wonder just how big it is. So, I spent a good 10 hours or so trying to see if I could map out just how big the ranch is. After all that time, I realized it was simply too big for me to easily map out by myself. But, the research I did do provided me with some fascinating information.
First off, thanks to a corporation registration website in Florida, I was able to track the name changes of the holding companies for the ranch over the years, eventually finding the current name. It used to be Deseret Properties of Florida, Inc., Deseret Farms, Inc., Deseret Farms Inc., Deseret Ranches of Florida, Inc., Deseret Livestock Company, Deseret Properties of Florida, Inc., Deseret Ranches of Florida, Inc. (1), Deseret Ranches of Florida, Inc. (2), but it is now called Farmland Reserve, Inc.. Once I finally found the current holding company, I was able to visit the property tax appraisers’ websites for the three main counties where the ranch is located: Osceola, Orange, and Brevard. On those sites I found all the property listings of Farmland Reserve, Inc. Here’s a summary of what I found after I added them all up:
Yep, you’re eyes do not deceive you – LDS, Inc. has more than $1 billion in for-profit property in Florida. The acres convert to 457 square miles, or .7% of the State of Florida. I can’t say for certain, but my guess is that LDS, Inc. is the largest landholder in the state behind the government. For comparative purposes, Disney owns 25,000 acres (that’s all of their properties, not just Disney World), or about 1/12th of the land owned by the LDS, Inc. holding company.
To tally all of this information, I actually built a spreadsheet that you’re welcome to download and peruse. I also started drawing the land parcels in Google Earth, but once I realized just how many there were, I decided I just didn’t have the time. I did complete all the land in Orange County and started on the land in Osceola County. If you want to see the maps or, better yet, if you’d like to improve/complete the maps, you can download them here: Orange County, Osceola County. If you do download them and improve them, please send me a copy of the updated versions as I’d like to have them.
As I was searching through these listings, on a whim I decided to see if Farmland Reserve, Inc. owned any property in my county, Hillsborough, FL, which is all the way across the state from Osceola and Brevard Counties. Turns out they do (see above table). That’s in addition to the $12 million owned by “Church of Jesus Christ of Latter Day Saints Corporation”, which is the company that holds the churches. This makes me wonder just how much property Farmland Reserve Inc. owns. I checked a couple additional counties in Florida but didn’t find any more property.
One of the reasons I wanted to visit the ranch is because my aunt and uncle recently completed a mission there (I should have gone while they were there, but never made it). The amazing thing about the fact that they served a mission there is that they did zero proselytizing and they paid to serve their mission. So, what did they do? My uncle was a high school shop teacher. He knows how to build and repair homes. So, they put him to work building homes on the ranch. He’s round 70 years old and was working 12 hour days 6 days a week for 18 months. His wife ran some of the tours and did other odd jobs around the ranch. When I found out that my aunt and uncle were paying for the opportunity to work for Farmland Reserve, Inc., a billion dollar for profit company, I was not very happy. Not only did the LDS Church use tithing money to buy the ranch (I’m assuming, maybe it was profit from some other business venture), but now it makes people pay for the opportunity to make one of their subsidiaries money. How is that at all ethical?
To wit, the obvious question is: How does the billion dollar ranching operation of the LDS Church further its religious aims? Why does a religion need a billion dollar ranch? Anyone?
| The Mormon Church is currently troubled by the structural deterioration of the Church Office Building (COB).
When constructed the metal skeleton was clad with precast concrete slabs. This was done at great savings compared to other types of cladding considered by the Mormon Church. It is cheap, easy to install and was suppose to last for centuries. This cladding system was also used on the Mexico City temple when it was first built. In the correct environment it is a very suitable system. However as the Mormon Church has discovered in the wrong environment it is a disaster.
Several years ago a piece of cladding fell off the Mexico City Temple. Forensics discovered that the rebar used in the concrete had begun to deteriorate (rust) due to the hygroscopic properties (affinity for water) of unsealed concrete. Given the humid/wet environment of Mexico City the rusting of the rebar caused it to swell. This swelling puts great pressure on the concrete until it cleaves along a fracture plain and fails. The result is concrete patches falling from the sky. It became so critical at the Mexico City Temple that the Mormon Church had no choice but to close the temple and re-clad it with another material, in this case a Granite. $40 Million dollars was spent on the refurbish/remodel of the temple.
Well, the same thing is happening with the COB. Though no material has fallen off the building, it is continuing to deteriorate. It was thought at first that some sort of stabilization could be done on the material. But nothing tried so far works.
Well we got the estimation for refurbish/remodel of the COB – 1.34 Billion Dollars.
| The Ogden Temple is going to be remediated/remodeled to enhance the Temple and the surrounding area.
When originally constructed it was done in the same architecture as the Provo Temple again using precast concrete as the exterior structure. This is deteriorating just as the COB.
What is really forcing the remodel in my OPINION is the lack of leasing of the Ensign Plaza South Class “A” office building because of the BUTT UGLY TEMPLE.
The Mormon Church owns the property to the North and South of the Ogden Temple. A couple of years ago, the Mormon Church decided to develop the property North and South of the Temple to preserve the “Beauty and Majesty” of the Temple and frame it with edifices worthy of the House of the Lord. So construction of Ensign Plaza South began, with the North Plaza to follow once the South Plaza was at least 80% occupied.
As with all Mormon construction projects Satan was soon plaguing the build. First after the footings and foundation walls were poured it was discovered they were 1 foot over the property line towards the city right of way (sidewalk and street). The Mormon Church asked if they could buy the right of way incurred upon to which Ogden city said NO! So the construction was delayed by the requirement of moving the footings and foundations 1 foot west. Of course during the excavation for the new footings and foundations walls the excavator hit an unknown “UST” (underground storage tank). This immediately brought the build to a halt. Now the enemy of the Church geotechnical engineers found the soil to be contaminated so it had to be remediated/removed. The remediation/removal took six months. Well once construction started after the delay the greedy subcontractors immediately raised all their prices. They were unwilling to accept a 5 to 20 percent loss on their profit margins because enemy of the church suppliers hadraised the prices for materials such as concrete, wood, wiring, glass, etc.
After negotiations were completed on the price increases, we were once again building for Commercial Mormon Jesus. And things were moving happily along with everyone involved signing “Put your Shoulders to the Wheel” when once again Satan appeared. It seems that while the construction was progressing the Mormon Church signed an exclusive listing with a “good” friend (soon to be enemy of the church) realtor. With his exclusive rights he was busy signing leases for the building. Only it turns out that when the building was ready to outfit for the new tenants, there were none. NOPE, no new happy renters, gleefully giving money to the Mormon Church. It seems the now enemy of the church exclusive realtor made up all the leasers. To keep his exclusive rights he had to report weekly during the construction of who was gobbling up what floor and how much. So he pulled a fast one on the Mormon Church and just named names (kind of like weekly missionary reports about tracting/teaching statistics – maybe he learn this onhis mission).
SO to this day, Ensign Plaza South is at only 20% occupancy. Ensign Plaza North is just a promise (like moving back to Missouri) someday to be built.
So my best guess is that the Ogden Temple is being renovated/remodeled to look like Ensign Plaza South so maybe it can finally be filled.
Oh, final cost of the $20 Million budgeted Ensign Plaza South – $58.2 Million
| As a webmaster by trade, I use this tool called, SpyFu.com all the time in order to see what my competitors are spending on certain keywords and terms.
Spyfu.com is the most accurate tool to determine what competitors are spending on Google AdWords advertising program. The reason I know is because I SpyFu my own Google AdWords campaigns and Spyfu.com is 95% accurate every time.
Here is what SpyFu says about Mormon.org http://spyfu.com/Domain.aspx?d=-20041...
This means the church has, in the past, paid for 1,812 keywords which results anywhere from 4k a day up to 18k a day.
If you take the highest they have paid, 18k in one month and times it by 30 days you get $540,000 a month in advertising. Times that by 12 months and it comes out to be 6.5 million in a year range!
This may be a high estimate, and things vary and monthly budgets may be higher or lower, but you get the idea of how much the church spends on the net.
| I realized that LDS, Inc. is building (already built?) a luxury hotel in Hawaii through Hawaii Reserves, Inc., but did not realize that HRI manages over 7,000 acres in Laie and owns the water company that provides the island with its H2O. Apparently, the land was purchased in 1856 by the church, so just add this to the many multibillion dollar tentacles of big business masquerading as an ecclesiastical organization. The link is below with a quote from the website.
"Established in 1993, Hawaii Reserves, Inc. is a Hawaii-based corporation that manages properties affiliated with The Church of Jesus Christ of Latter-Day Saints primarily located in the historic community of Laie, Hawaii. Laie's rich history is epitomized by the renowned Hukilau Beach, where the town's first commercial hukilau took place in 1948. Laie is also home to Brigham Young University-Hawaii and the Polynesian Cultural Center, Hawaii's most popular paid attraction."
"HRI is the parent company for the Laie Water Company, which provides water to all of Laie. A pristine source of pure water from a basal aquifer deep beneath the ground provides the LWC with its water. Two pump stations draw approximately 1.2 million gallons of water per day from the aquifer for community use. The water crew installs, maintains and repairs approximately 120 fire hydrants, 700 water meters and all of Laie's water lines."
I went back and re-checked the land acquisition date. Their websites shows 1865.
I was shocked when I found out about the massive amounts of land for cattle ranches in Florida that the church owned. This shocks me even more. I'm assuming that the church acquired the water rights along with the land. Where else is an island going to get their water? Got the people right where they want them, I'd say.
Here are a couple of other business involvements of the church through HRI. This is again from their website.
1. "L a ? ‘ie Water Company (established in 1991) operates the water system for the community of L a ? ‘ie and surrounding agricultural properties, delivering pure water from a basal aquifer deep beneath the ground."
2. "L a ? ‘ie Shopping Center (built in 1969) provides more than two dozen commercial and professional services in a 72,000-square-foot retail complex. From hardware to health care, the center serves a wide range of needs for the entire North Shore community."
3. "La ?‘ie Treatment Works runs a $20 million state-of-the-art wastewater treatment facility constructed by HRI. Since its construction, the facility has run at an operating loss of approximately $1 million annually. An agreement between HRI and the City and County of Honolulu allows for the transfer of the facility to the city."
"As a for-profit company, HRI uses revenues generated by its business ventures to fulfill its vision of creating an economically vibrant and sustainable L a ? ‘ie. Although affiliated with the LDS Church, HRI does not rely upon tithing paid by LDS church members to fund its operations.
The company’s business ventures exemplify its deep roots in and long-term commitment to L a ? ‘ie. HRI seeks to invest in the community while preserving the unique character of the area."
I threw in that last paragraph because of the spin the church attempts to put on their vast business holdings. As they spin it, it all sounds too altruistic and noble when they're making a "long-term commitment" to what they make sound like community service (rather than making a buck). And, the "does not rely upon tithing" plea is wearing thin on me. They apparently had absolutely NO seed money for all of this. Or, perhaps DOES not doesn't mean DID not in that quote. More spin.
Why is an ecclesiastical organization's main interest in hotels, conference centers, real estate, broadcasting, life insurance, cattle, sugar, and water, instead of, say, shelters for the homeless sewer-dwelling begging children of third-world countries?
| This is the top of the iceberg. May I suggest to all faithful LDS to study the Church History from day 0, along with main publications against it, such as John C. Bennett book...
You will discover the same money-emphasis from day zero.
Find-out that the origin of tithing was: "...voted to come up to the law of tithing, so far as circumstances would permit, for the benefit of the poor" (Church History Vol 2, Chp. 4, Tuestady 3, pg. 42)
Clearly the prophet (JS) and subsequent Church's presidents and upper managers (notice the function:= management), managed to cover-up from naive believers that their financial contributions where to build the kingdom of God..
If SLC is the Kingdom of God on Earth, I would cry bitterly... I believe that as the own Church's leaders rejoice in stating in the Instructional Videos about the first Quorum of Twelfe's President pseudo "fall", [the Church] is building the somebodies' Corporation and not the Kingdom of God...
My solution to the problem is simple: stop paying tithings to SLC. Donate your tithings to local charity verifiable initiatives (i.e., beware of wolves in sheep's clothings.)
Shame, shame, shame dear president and general authorities....
I felt deceived, ripped-off, etc...
From a former missionary, former bishop, former BYU student, former Church's PBO in an international Area...
But, as Jesus taught: "all secrets will be unveiled..."
Research for yourself and find out how Area Presidents make more than $300,000 per year in benefits (i.e., furshished housing in the fanciest neighborhood + twice a year trips to SLC in first class + international schools + two luxury full-equipped cars + house utilities, surveilance and maintenance, full health insurance, etc.) in addition to the "modest" salary never disclosed by the Church...
Church's unconditional loyal members that doesn't want to open their eyes may say that this is almost nothing, but Jesus taught that the trustful good shepper loves his sheep and that it is able to offer his life for the flock; on the other hand, the assalariated shepper will flee when the danger comes....
Have you seen our General authorities doing community service, elbow to elbow with faithfull saints? I have never, nevertheless I have witnessed more than 10 visits of "General Authorities" to Southamerica. They always: arrive and are escorted with bodyguards, rested in the fanciest hotels, eat the more luxury meals, attended several ceremonies in their honor, gave a speech, gave a blessing or two, and then went to the country in a tour with the local authorities, not to do service with the poors, or the needy, but to visit the local attractions, and after all, return to the hotel, for preparing another "heavy day", and finally, leaving the country in the same way as they arrived: in first class...
Of course, there should be some exceptions, but I have never seen a single one!!!
Shame, shame, shame...
Full of me, that it tooked more than 40 years to open my eyes !!!!
| From God Discussions:
What has been the home of Boughton's Auto Salvage – a garage, junk yard and used-parts facility – is an important site to the Church of Jesus Christ of Latter Day Saints (i.e., the Mormon Church), which has purchased the property for $2.1 million.
The Mormons believe that the area in Susquehanna County, NY, was home to Joseph Smith, and his wife, the former Emma Hale, from 1827 to 1830. Smith arrived in the area when working a silver mining venture. They also believe that their founder, Joseph Smith, translated the Book of Mormon there in 1829.
The parcel is next to another 124 acres that the church owns.
| The Canadian Revenue Agency (CRA) makes available to the public certain aspects of each registered charity in Canada. Each ward is registered as its own charity (487 in total) and are registered under names like “Church of Jesus Christ of Latter Day Saints Cherry Grove Ward, while the church also registers another charity for the church as a whole in Canada (The Church of Jesus Christ of Latter Day Saints in Canada – BN 119223758 RR0001).
In reviewing the 2009 filing for the nationwide charity, I found some numbers that I wanted to share with you.
1) It looks like each ward takes care of their local welfare and their activities budget out of the donations made by their members. The rest of the money is then transferred to the Church of Jesus Christ of Latter Day Saints in Canada. For example, on their 2009 filing, the Lethbridge 12th ward received $558, 729 in donations from their members. $1,740 was then spent on “office supplies,” $33,062 was spent on “all purchased supplies and assets,”, and $32,513 was spent on “other” which is later explained as being spent on “assistance to the poor and needy.” Further down on their filing, $492,942 of the member donation money is given to a “qualified donee” which isn’t specified, but we can assume it went to the Church of Jesus Christ of Latter Day Saints in Canada.
2) The Church of Jesus Christ of Latter Day Saints in Canada received $69,089,700 from “non-arm’s length parties,” again, presumably from the branches of the church throughout the country.
3) In 2009, the Church of Jesus Christ of Latter Day Saints in Canada gave $40,000,000 to BYU Provo. In other words, 57.9% of the money received from “non arms-length parties” that year. Here is the Form T1236(09) that shows the transfer to BYU.
4) Compensation. In 2009, the Church of Jesus Christ of Latter Day Saints in Canada had 248 part-time workers who earned a total of $1,807,140 for the collective. They also had 184 full-time workers who split a total of $15,237,479, of those full-time workers, two of them made between $80,000 – $119,999; six of them made between $120,000 – $159,999; and two others made between $160,000 – $199,999.
Interesting stuff, isn’t it?
The T3030 return quoted in this document can be found here. http://www.cra-arc.gc.ca/ebci/haip/sr...
| Mormons make up only 1.4 percent of the U.S. population, but the church's holdings are vast. First among its for-profit enterprises is DMC, which reaps estimated annual revenues of $1.2 billion from six subsidiaries, according to the business information and analysis firm Hoover's Company Records (DNB). Those subsidiaries run a newspaper, 11 radio stations, a TV station, a publishing and distribution company, a digital media company, a hospitality business, and an insurance business with assets worth $3.3 billion.
AgReserves, another for-profit Mormon umbrella company, together with other church-run agricultural affiliates, reportedly owns roughly 1 million acres in the continental U.S., on which the church has farms, hunting preserves, orchards, and ranches. These include the $1 billion 290,000-acre Deseret Ranches in Florida, which, in addition to keeping 44,000 cows and 1,300 bulls, also has citrus, sod, and timber operations. Outside the U.S., AgReserves operates in Britain, Canada, Australia, Mexico, Argentina, and Brazil. Its Australian property, valued at $61 million in 1997, has estimated annual sales of $276 million, according to Dun and Bradstreet.
This older article from Nebraska shows that Mormon money making can hurt the regular people.
"Although its management structure may resemble a private corporation, the church's nonprofit status earns it an exemption from the state ban on corporate farming/ranching."
"Still, the consolidation of such large tracts of land by a single entity should cause concern, said John Hansen, president of the Nebraska Farmers Union. The law seeks to protect the state's interest in having a diversity of resident landowners who live on and work their properties."
"It's hard for local folks to outbid an outside investor who has unlimited money," Hansen said.
This LDS statement reveals how large the LDS owned agriculture industry is. "We run cattle ranches. We are the largest cow-calf operator in the nation."
| The Wisdom Of The Prophet, God's Representative On Earth, Thomas S. Monson: "One, Two, Three -- Let's Go Shopping!" |
Wednesday, Jul 11, 2012, at 07:26 AM
Original Author(s): Infymus
Topic: MORMON MONEY - SECTION 3 -Link To MC Article-
| ↑ |
| Keith B. McMullin, who for 37 years served within the Mormon leadership and now heads a church-owned holding company, Deseret Management Corporation (DMC), an umbrella organization for many of the church’s for-profit businesses wrote:
“We look to not only the spiritual but also the temporal, and we believe that a person who is impoverished temporally cannot blossom spiritually.”
Somebody tell that to Mother Teresa.
McMullin explains that City Creek exists to combat urban blight, not to fill church coffers. “Will there be a return?” he asks rhetorically. “Yes, but so modest that you would never have made such an investment–the real return comes in folks moving back downtown and the revitalization of businesses.” Pausing briefly, he adds with deliberation: “It's for furthering the aim of the church to make, if you will, bad men good, and good men better.”
From the article:
The national anthem blared, and Henry B. Eyring, one of Monson’s top counselors, told the crowds, “Everything that we see around us is evidence of the long-standing commitment of the Church of Jesus Christ of Latter-day Saints to Salt Lake City.” When it came time to cut the mall’s flouncy pink ribbon, Monson, flanked by Utah dignitaries, cheered, “One, two, three–let’s go shopping!”
| Please find below excerpts and quotes from the published Financial Accounts for the Church in the UK. |
Membership - 188,029 (2010 - 187,436)
Convert Baptisms = 1,738
Operating costs increased to £46,739,000 (2010 - £35,998,000)
£5,459,000 donated to 'parent company'.
£3,303,000 to fund the Missionary programme in the UK (costs previously borne by 'parent company').
Repairs and improvement costs for meetinghouses etc rose by £1,900,000.
Breakdown of 2011 expenses by 'activity':
Provision of worship facilities - £23,790,000 (2010 - 22,747,000)
Religious education - £5,943,000 (2010 - 5,200,000)
Missionary work - £6,981,000 (2010 - £757,000) *these seems not to align with 'Operating costs' above*
Genealogy work - £5,204,000 (2010 - £5,069,000)
Community projects - £4,761,000 (2010 - £2,158,000)
Within these expense by activity numbers £12,350,000 was 'staff costs' and £6,797,000 was 'depreciation' on worship facilities.
There were 69 Building cleaners employed (2010 - 174).
There were 18 employee's whose emoluments were higher than £60,001 per annum (2010 - 38)
*The 20 who were cut were those who did not have "benefits accruing under the defined benefit scheme."*
Income increased to £47,976,000 (2010 - £35,673,000)
increase in donation from 'parent company' of £3,672,000.
land donation valued at £6,607,643 received from Farmland Reserve.
Donations from members (tithing) - £30,262,000 (2010 - £28,548,000)
Donations (other than tithing):
Missionary support fund - £777,000 (2010 - £755,000)
Book of Mormon fund - £41,000 (2010 - £43,000)
Fast offering fund - £1,625,000 (2010 - £1,761,000)
Temple construction fund - £70,000 (2010 - £58,000)
Humanitarian aid fund - £448,000 (2010 - £508,000)
Youth conferences - £301,000 (2010 - £318,000)
Perpetual education fund - £128,000 (2010 - £177,000)
Note: Temples (2 in UK) generated an income of just over £1,000,000 in both 2010 and 2011.
Other income highlights:
donations from members £33,652,000. (2010 - £32,168,000)
interest from monies invested £38,000. (2010 - £158,000)
income from 'charitable activities' £1,096,000. (this seems to be income from Temples)
income from 'other' sources £1,769,000. (this seems to be disposal of fixed assets etc)
"During the year £1,876,000 was spent for the relief of the poor and needy not only in the United Kingdom and Ireland but also other countries in Europe and Africa.
"Resources expended exceeded incoming resources for the year by £4,613,000 after taking into account the actuarial loss on the defined benefit pension scheme of £5,850,000."
The 'Charity' (Church) placed £1,000,000 in fixed term deposit accounts (2010 - £4,500,000), which achieved an average rate of 1.90% gross during 2011.
The actual reserves as of 31st December 2011 were £254,416,000 (2010 - 260,107,000) which "are significantly above The Charity's target. This significant figure is largely due to the conversion of inter-company debt to grant income that took place in prior years as directed by the parent company."
| 2011 Financial Information from LDS Church in Canada - This time there are no millions for BYU
The 2011 financial information for "The Church of Jesus-Christ of Latter-Day Saints in Canada" is now available. This is the registered charity that receives all the tithing and donations money from all wards in Canada. A few months back I posted the link when the information for the wards was available, now this is for the whole church in Canada.
Check it out, the amounts transfered from the wards is $151,848,238, this is after all ward expenses. This is under this line on the form:
Total amount received from other registered charities 4510 $ 151,848,238
Note that even though in previous years most of the money was transered to BYU, this time BYU only got 100K. Also note that some wards received money. I recognized a couple of the ward names, so my guess is that all of them are wards.
There are subtantial amounts going to charities in Ecuador, China and Ghana. Anyone has any theories on this?
I don't know why the urls are so long, I won't post more urls but you can find the page for 'detailed financial information' and for 'qualified donees'.
Here is the link to the main charities page, where you can search for your own ward/branch.
| While the $2-5 billion City Creek gets a lot of attention here, I thought I would point out some of the other real estate deals in the works:
The Highbury Center
"The Highbury Centre site, which is across the street from WinCo, is being developed by Suburban Land Reserve Inc., a subsidiary of The Church of Jesus Christ of Latter-day Saints. There are no other tenants currently at the development, according to LDS Church spokesman Scott Trotter."
The West Layton Village
The land is owned by LDS, Inc, and the church is pushing hard to rezone the land to allow for a massive mixed residential and commercial development. The rezoning intiative will up for a vote this November.
And maybe a future mega development in the works:
"...in exchange for an unspecified number of acres in southwestern Salt Lake County. The Salt Lake City-based Church of Jesus Christ of Latter-day Saints has "no current plans for the development of that land," according to Carl Duke, vice president of PRI's subsidiary, Suburban Land Reserve."
Any others I missed?
| Many people here are likely familiar with Bloomberg Businessweek's July 2012 indepth report, "How the Mormons Make Money" (ref. http://www.businessweek.com/articles/... ). I re-read the report yesterday and something caught my attention that I'd overlooked on p. 2:
"The [LD$] church also makes money through various investment vehicles, including a trust company and an investment fund called Ensign Peak Advisors, which employs managers who specialize in international equities, cash management, fixed income, quantitative investment, and emerging markets, according to profiles on LinkedIn (LNKD). Public information on Ensign Peak is sparse. In 2006 one of the fund's vice presidents, Laurence R. Stay, told the Mormon-run Deseret News, 'As we trade securities, all of the trading happens essentially with a handshake. . There's lots of protections around it, but billions of dollars change hands every day just based on the ethics of the group-that people know that they can trust each other.'"
"[B]illions of dollars" in financial trades "every day" going on in the secretive investment arm of LD$ Inc., the 'one, true' corporation of Je$u$ Chri$t. If that's not Chri$tian wealth-building in action, I don't know what is!
And below the online report is a posted remark by "gamnn:
"Hmm, my 89 year old father has been a Mormon his entire life. He has had medical problems the last 2 years and when we asked the church for help we got totally blown off.
The financially-well-taken-care-of "Brethren" and their GA money managers and lawyer chums really don't give a rat's ass about rank-and-file members of the Morg!
"He did not ask for money just for help around his house or help getting to doctors appointments.He has paid his tithe no matter the hardship it has caused, the only thing the church does, is his home teacher visits once a month.
"My father use to help everyone in the ward, has donated 1000's of hours of his time at the bishops storehouse, we helped build the ward chapel 40 plus years ago and other church buildings... but ask for help and get squat."
| LD$ Inc.'s money shell game using psychologically-coerced cash (i.e., "tithes and offerings") from hoodwinked Canadian Mormons, whose financial well-being in this life and "exaltation" after death partly depends on them forking over at least 10% of their income, money gifts, pension(s), inheritance(s), etc. to the money-grubbing Morg, per LD$ doctrine.
Online Canada Revenue Agency info. (see the CRA link below) reveals that there are 10 "Qualified Donees - THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS IN CANADA":
One in the USA: Brigham Young University
Nine in Canada: Wildwood, Coronation Park, Surrey 1st, Park Meadows, Shawnessy, Surrey 3rd, Legacy, Willow Park, and Surrey 2nd (Spanish).
Having lived in the metro Vancouver area, which includes Surrey, I recognized Surrey 1st, 2nd (Spanish), and 3rd as LD$ units/congregations in the community. (They're listed here: http://www.yellowpages.ca/search/si/1... ).
The other Cdn. "Qualified Donees" are also LD$ units/congregations, based on YellowPages.ca info.
So, for the CRA reporting period (one recent calendar year, probably 2011), LD$ Inc. took in a total of $103,984,696 from Cdn. Mormons, and without telling them, send 99% of the funds ($102.9M) to its Brigham Young University in the USA.
Using misleading LD$ indoctrination materials and sermons from church leaders, Latter-day Saints in Canada (as in all countries) have repeatedly been told that "Tithing funds are used to build churches and temples, to sustain missionary work, and to build the kingdom of God on earth" (ref. http://www.lds.org/scriptures/gs/tith...).
What does subsidizing BYU have to do with building the LDS-imagined "kingdom of God on earth" (a.k.a. LD$ Inc.)? Nothing; BYU is a post-secondary education institution.
What IS the marketed "Purpose of the Church"? Text on lds.org provides the answer: "The Church of Jesus Christ of Latter-day Saints was organized by God to assist in His work to bring to pass the salvation and exaltation of His children.... In fulfilling its purpose to help individuals and families qualify for exaltation, the Church focuses on divinely appointed responsibilities. These include helping members live the gospel of Jesus Christ, gathering Israel through missionary work, caring for the poor and needy, and enabling the salvation of the dead by building temples and performing vicarious ordinances."
(Ref. http://www.lds.org/handbook/handbook-... )
To any lurking Cdn. Mormons, how do you feel about not being told the truth by LD$ Inc.'s Profits about where your "tithes and offerings" have ended up?
Why would the Morg's Profits' allow this kind of money shell game? Because people have been leaving the duplicitous LD$ Church "in droves", as reported in Jan. 2012 by Reuters. As hundreds of thousands of members have woken up to the fact that Mormonism is a fraud, they've stopped their payments of "tithes and offerings" and resigned.
But LD$ Inc. has always been about wealth-expansion (for itself, not its rank-and-file membership, of course). Using cash from its American income sources, the money managers at the Morg's Ensign Peak Advisors have no doubt been able to do MORE trades using sophisticated financial instruments (e.g., calls, puts, futures, FOREX spreads).
Computer tools such as trading software with a trailing stop-loss feature and electronic charting with programmable indicators have been around for years. The main advantage they've offered is maximizing profits on trades.
And PROFITS mean EVERYTHING to LD$ Inc., the 'one, true' corporation of Je$u$ Chri$t.
Here's the Canada Revenue agency link:
| Excerpts from the published financial accounts for the Church in the UK for the 12 months ending 31st December 2012. |
Church membership in the United Kingdom stood at 188,462 at 31 December 2012 (2011 188,029).
286 wards and 49 branches (335 congregations averaging 562 claimed members per congregation)
During 2012 there were 1,411 convert baptisms in the United Kingdom.
Donations andpound;33,159,000 (2011 andpound;33,652,000)
Donations from parent company andpound;17,946,000 (2011 andpound;4,813,000)
Donations from sister charity andpound;0 (2011 andpound;6,608,000)
Income from Temples andpound;1,030,000 (2011 andpound;1,020,000)
Total resources expended andpound;44,202,000 (2011 andpound;46,739,000)
Average Monthly Number of Paid Employee's
Teaching function - 25 (2011 - 25)
Office Administration - 159 (2011 - 168)
Building Cleaners - 50 (2011 - 69)
The number of employee's whose emoluments feel within the following bands:
andpound;70,001 - andpound;80,000 = 10 (2011 - 7)
andpound;60,001 - andpound;70,000 = 11 (2011 - 11)
Incoming resources - andpound;372,000
Expenditure - andpound;1,000 (Note: No, I haven't made a typo)
"These funds are donated by the members to help fund the programme of Humanitarian Aid approved by TCOJCOLDS. The balance of these funds at 31 December was transferred after the year end to the Corporation of the Presiding Bishopric of TCOJCOLDS."
Missionary Support Fund
Incoming resources - andpound;979,000
Expenditure - andpound;6,294,000
Fast Offering Fund
Incoming ressources - andpound;1,563,000
Expenditure - andpound;1,775,000
The net growth of the Church in 2012 was 433 members (just over 1 more per congregation despite 1,411 converts and God know's how many increases in children of record). That's a growth of 0.23%.
The UK death rate is 9.33 per 1,000 per annum. So we could estimate there were approximately 1,500 - 2,000 Mormon deaths in the UK in 2012.
This means new converts (even if none went inactive) don't offset the death toll. If this trend is seen worldwide then it's no wonder the message from General Authorities is to ignore overpopulation and get making more and more babies. It's the only source of growth for the Church!
The tithing and donation income was insufficient and so COB had to stump up nearly andpound;18,000,000 to balance the books.
Mormon Church UK is a sinking ship.
| Here's the data: http://donate2charities.ca/en/THE.CHU... |
Cash, bank accounts, and short-term investments: $55,868,464
Amounts receivable from non-arm's length parties: $26,144,848
Amounts receivable from all others: $4,747,715
Investments in non-arm's length parties: $6,451,252
Long-term investments: $5,285,795
Land and buildings in Canada: $925,065,600
Other capital assets in Canada: $62,201,632
Accumulated amortization of capital assets: -$403,079,744
Other assets: $2,946,647
Accounts payable and accrued liabilities: $1,497,055
Other liabilities: $11,389,526
TOTAL REVENUE: $180,203,888
Amount of all gifts for which the charity issued tax receipts: $2,063,697
Amount received from other registered charities [wards and branches]: $158,451,152
Sale of goods and services: $4,546,953
TOTAL EXPENDITURES: $18,887,152
Operating Cost: $31,617,869
Travel and vehicle expenses: $2,958,178
Interest and bank charges: $100,008
Office supplies and expenses: $6,301,243
Occupancy costs: $22,133,258
Professional and consulting fees: $18,862
Education and training for staff and volunteers: $106,320
ALL COMPENSATION: $20,240,680
188 permanent, full-time, compensated positions: $18,818,227
153 part-time or part-year employees: $1,422,453
Amortization of capitalized assets: $27,831,780
Purchased supplies and assets: $47,658,136
Other Expend. (assist the poor and disaster relief): $2,582,311
477 Cdn. branches and wards are registered with the CRA.
Using the online data, the average "Amount received from other registered charities", meaning LD$ congregations in Canada, is $332,182.71.
The average compensation for "188 permanent, full-time" personnel is almost $100,097. And for "153 part-time or part-year employees"? Just under $9,297.
Given that LD$ Inc. doesn't spend a nickel more on meetinghouse supplies and ward/branch activities than necessary for an almost bare-bones operation, I have to wonder how much of the $47,658,136 reportedly spent on "Purchased supplies and assets" was used to acquire the latter in the form of real estate.
"Other Expend." of $2,582,311 to assist the poor and for disaster relief works out to a measly 1.43% of total revenue. The "true" corporation of Je$u$ Chri$t may wobble and morph about its so-called "restored" doctrines, teachings, and rituals, but when it comes to assisting the less fortunate the "only true and living church", quoting Oaks in June 2010, has been consistently tight-fisted.
To review previously posted info., in July 2012 Businessweek reported: "According to an official church Welfare Services fact sheet, the [LDS] 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 [Prof. Ryan] Cragun [of the Univ. of Tampa] and recently published in Free Inquiry estimates that the Mormon Church donates only about 0.7 percent of its annual income to charity; the United Methodist Church gives about 29 percent."
If Jesus was alive today and had access to $55,868,464 in "Cash, bank accounts, and short-term investments" alone, I'd wager that he would've parted with considerably more than a relatively small $2,582,311 last year to help people in need. Clearly, the $40-billion Mormon Church has other priorities.
| From the Tampa Bay Times:
the Mormon Church is poised to become the largest private landowner in the state.
AgReserves Inc., a Utah-based tax-paying affiliate of the church, is buying nearly 383,000 acres in northwest Florida from the St. Joe Co., according to a deal announced Thursday.
The price tag of $565 million includes the bulk of St. Joe's timberland in Bay, Calhoun, Franklin, Gadsden, Gulf, Jefferson, Leon, Liberty and Wakulla counties.
The church already controls the Deseret Ranches in Central Florida, which consists of about 290,000 acres spread over three counties. The new deal would push its holdings above 650,000 acres. That's more than the other Florida land heavyweights, including Perry-based Foley Timber and Land Co. (562,000 acres) and Plum Creek, a Seattle-based real estate trust with 448,000 acres, according to Plum Creek's website
I'm sure the Tampa Bay Times will receive a letter from the One True Lawfirm correcting the Times to use the Mormon Church's rediculously long name and not "Mormon".
| Zion's Bank posts huge losses: http://www.nytimes.com/2013/12/20/bus...
"Zions's shareholders would have done much better if the bank - and others - had done things the old-fashioned way. It could have raised more capital by issuing common stock. When it needed additional deposits to finance loans it wanted to make, it could have offered higher interest rates. Both of those courses could have depressed reported earnings per share, and perhaps damaged Zions's share price. But they would not have led to the large losses that are being reported now."
"The roots of the problem go back to 2000. Deposits were not growing rapidly enough to allow Zions to meet loan demand from its customers. So it created a special purpose entity called Lockhart Funding. Zions made the loans, packaged them into securities and "sold" them to Lockhart, which was financed largely by selling short-term commercial paper.
How involved is the Church with the bank these days?
As Clark B. Hinckley, a Zions senior vice president, told me almost six years ago, "It enabled us to essentially originate these loans and not have to keep tangible capital behind them.
That sale to Lockhart was, for all practical purposes, a fiction.""
But really, this is all impossible.
"You can rest assured that this church doesn't put its investments and its confidence in anything that isn't stable, honorable and (having) a record of performance and integrity,"
Monson said - see http://www.deseretnews.com/article/70...
Prophets of the Lord cannot be wrong.
| From Philly.com:
The Mormon Church plans to build a 32-story apartment tower and a public meetinghouse on a vacant lot next to the Vine Street Expressway, filling in a key piece of the no-man's-land that has long separated Center City and North Philadelphia's rebounding neighborhoods.
The private development by the Church of Jesus Christ of Latter-day Saints calls for 258 apartments, 13 townhouses, and retail shops at 16th and Vine Streets.
The meetinghouse will have a chapel, courtyard, multipurpose space, and a center to research genealogy, said Michael Marcheschi, senior real estate manager for the church's national special projects department.
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