jskains wrote:JAK claims that the Mormon Church tries to transfer wealth from its members.. Since it is non-profit with no stockholders and the church basically can have no end-year profits, what exactly is the value of building up all this wealth other than providing services BACK to the members?
Welfare programs, church construction, temple contruction, free marriages, free social activities, charity work. I am not seeing this pattern of Evil Jak seems to see.
JMS
NFPs can have a profit that is not taxed if the profit relates to the NFPs purpose. They can also accumulate assets in the form of money, stocks and other securities as well as real property and even businesses. Any profits on activities not related to the NFPs purpose is called Unrelated Business Income and subject to tax.
But your comment that they can have no year end profit is not correct. NFPs can and often do have profits and accumulate assets.
Savings for operational expenses and true profit are two different things. There are no distributable profits that benefit a group of stockholders.
JMS
Great Spirits Have Always Encountered Violent Opposition from Mediocre Minds - Albert Einstein
jskains wrote:JAK claims that the Mormon Church tries to transfer wealth from its members.. Since it is non-profit with no stockholders and the church basically can have no end-year profits, what exactly is the value of building up all this wealth other than providing services BACK to the members?
Welfare programs, church construction, temple contruction, free marriages, free social activities, charity work. I am not seeing this pattern of Evil Jak seems to see.
JMS
NFPs can have a profit that is not taxed if the profit relates to the NFPs purpose. They can also accumulate assets in the form of money, stocks and other securities as well as real property and even businesses. Any profits on activities not related to the NFPs purpose is called Unrelated Business Income and subject to tax.
But your comment that they can have no year end profit is not correct. NFPs can and often do have profits and accumulate assets.
Savings for operational expenses and true profit are two different things. There are no distributable profits that benefit a group of stockholders.
JMS
Yes that is true. In a for porfit corp profits can be invested in plants, expansion, marketing, etc as well as paid out as dividends to the shareholders. NFPs have no shareholders. Profits have to be reinvested or can be accumulated for the activities of the organization. Money and reserves are a valid purpose. Other property holdings are or can be as well. Accumulation of assets that are not meeting the purpose of the NFP can put in peril the NFPs tax exempt status. But they do have profits that are over and beyond their expenses like any other corporation. There are just no dividends to shareholders.
jskains wrote:JAK claims that the Mormon Church tries to transfer wealth from its members.. Since it is non-profit with no stockholders and the church basically can have no end-year profits, what exactly is the value of building up all this wealth other than providing services BACK to the members?
Welfare programs, church construction, temple contruction, free marriages, free social activities, charity work. I am not seeing this pattern of Evil Jak seems to see.
JMS
NFPs can have a profit that is not taxed if the profit relates to the NFPs purpose. They can also accumulate assets in the form of money, stocks and other securities as well as real property and even businesses. Any profits on activities not related to the NFPs purpose is called Unrelated Business Income and subject to tax.
But your comment that they can have no year end profit is not correct. NFPs can and often do have profits and accumulate assets.
Savings for operational expenses and true profit are two different things. There are no distributable profits that benefit a group of stockholders.
JMS
I guess someone should tell Packers construction firm that. If that were true they ought to be bankrupt. You are losing this argument already.
And crawling on the planet's face Some insects called the human race Lost in time And lost in space...and meaning
jskains wrote:JAK claims that the Mormon Church tries to transfer wealth from its members.. Since it is non-profit with no stockholders and the church basically can have no end-year profits, what exactly is the value of building up all this wealth other than providing services BACK to the members?
Welfare programs, church construction, temple contruction, free marriages, free social activities, charity work. I am not seeing this pattern of Evil Jak seems to see.
JMS
NFPs can have a profit that is not taxed if the profit relates to the NFPs purpose. They can also accumulate assets in the form of money, stocks and other securities as well as real property and even businesses. Any profits on activities not related to the NFPs purpose is called Unrelated Business Income and subject to tax.
But your comment that they can have no year end profit is not correct. NFPs can and often do have profits and accumulate assets.
Savings for operational expenses and true profit are two different things. There are no distributable profits that benefit a group of stockholders.
JMS
I guess someone should tell Packers construction firm that. If that were true they ought to be bankrupt. You are losing this argument already.
I always love that ploy... Instead of addressing issues, make declarations. I saw a video of two guys beating on each other with no clear winner and one just suddenly gave up then declared "You lost". Making declarations must make it true.
Anywho... If no person is benefiting where is the evil? Last time I checked those "profits" go to things like the disaster victims and the poor. To run different aspects of the church's humanitarian programs...
Sounds evil to me.. SHUT IT DOWN!!! :)
JMS
Great Spirits Have Always Encountered Violent Opposition from Mediocre Minds - Albert Einstein
jskains wrote:I always love that ploy... Instead of addressing issues, make declarations. I saw a video of two guys beating on each other with no clear winner and one just suddenly gave up then declared "You lost". Making declarations must make it true.
Anywho... If no person is benefiting where is the evil? Last time I checked those "profits" go to things like the disaster victims and the poor. To run different aspects of the church's humanitarian programs...
Sounds evil to me.. SHUT IT DOWN!!! :)
JMS
That is not the case. How much did the LDS give to aid and the poor?
See, one of the families I knew in Utah, and tried to convert me, went to the LDS aid society. It was given to than as a LOAN from the Aid society. They needed help and they were told that they would have to pay it back.
Some aid. How much aid went to Katrina victims?
Sorry, but the LDS Inc. is rich and powerful. What do they use profits for? Buying more companies and making more temples. That great white travesty off of I-5 just North of San Diego by La Jolla cost how much? So what went to the poor and weren't the companies Mormon owned that built it?
Please look at what your saying and what the brethren are really doing.
Knowledge is Power
Power Corrupts
Study Hard and
Become EVIL!
jskains wrote:I always love that ploy... Instead of addressing issues, make declarations. I saw a video of two guys beating on each other with no clear winner and one just suddenly gave up then declared "You lost". Making declarations must make it true.
Anywho... If no person is benefiting where is the evil? Last time I checked those "profits" go to things like the disaster victims and the poor. To run different aspects of the church's humanitarian programs...
Sounds evil to me.. SHUT IT DOWN!!! :)
JMS
That is not the case. How much did the LDS give to aid and the poor?
See, one of the families I knew in Utah, and tried to convert me, went to the LDS aid society. It was given to than as a LOAN from the Aid society. They needed help and they were told that they would have to pay it back.
Some aid. How much aid went to Katrina victims?
Sorry, but the LDS Inc. is rich and powerful. What do they use profits for? Buying more companies and making more temples. That great white travesty off of I-5 just North of San Diego by La Jolla cost how much? So what went to the poor and weren't the companies Mormon owned that built it?
Please look at what your saying and what the brethren are really doing.
Please do some research. That "Travesty" was the product of private donations from wealthy members. And no, there was a lot of non-Mormon involvement. My Grandfather was a civil engineer at the time who knew a lot of the folks involved...
This is what bothers me. A lot of anti-LDS are so desprate to BE anti-LDS they will make up anything they can to throw AT the LDS.
JMS
Great Spirits Have Always Encountered Violent Opposition from Mediocre Minds - Albert Einstein
jskains wrote:Please do some research. That "Travesty" was the product of private donations from wealthy members. And no, there was a lot of non-Mormon involvement. My Grandfather was a civil engineer at the time who knew a lot of the folks involved...
This is what bothers me. A lot of anti-LDS are so desprate to BE anti-LDS they will make up anything they can to throw AT the LDS.
JMS
Please enlighten me about the SD Temple
One other thing, what about the "poor" again?
It is not "anti-LDS". It is merely a way to enlighten the LDS chattel of what their leadership is really like.
Knowledge is Power
Power Corrupts
Study Hard and
Become EVIL!
jskains wrote:I always love that ploy... Instead of addressing issues, make declarations. I saw a video of two guys beating on each other with no clear winner and one just suddenly gave up then declared "You lost". Making declarations must make it true.
Anywho... If no person is benefiting where is the evil? Last time I checked those "profits" go to things like the disaster victims and the poor. To run different aspects of the church's humanitarian programs...
Sounds evil to me.. SHUT IT DOWN!!! :)
JMS
That is not the case. How much did the LDS give to aid and the poor?
See, one of the families I knew in Utah, and tried to convert me, went to the LDS aid society. It was given to than as a LOAN from the Aid society. They needed help and they were told that they would have to pay it back.
Some aid. How much aid went to Katrina victims?
Sorry, but the LDS Inc. is rich and powerful. What do they use profits for? Buying more companies and making more temples. That great white travesty off of I-5 just North of San Diego by La Jolla cost how much? So what went to the poor and weren't the companies Mormon owned that built it?
Please look at what your saying and what the brethren are really doing.
The LDS Church gives out a lot of aid on the local level. It is called fast offerings. My ward assists local members in need and some non members to the tune of about $50,000 per year. Other wards may do more or less. The Church sent spearhead units and other aid to Katrina victims and is often the first one on the scene when disasters happen. Many argue that the proportion of income that he LDS Church gives to humanitarian efforts is not enough compared to what it brings in. That may or may not be. We do not know since the Church does not make public financial information. Never the less it is utter nonsense to say they do not give aid. They have given aid in the hundreds of millions at least,if not more.
My wife graduated from a non-profit university. She recently found out that its president is making $2M a year (its an elite school). In an unaudited non-profit such as the LDS church, how do you that there aren't many people who are earning large salaries for doing little or nothing?