DiscussMormonism.com

How likely is it that tithing funds are used to fund for-profit businesses such as the farms, real estate, etc? This could be done via borrowing against equity held in property and well-to-do real estate.

::cough-Temples-cough:::

This clearly would represent the mechanism of support for the Mormon oligarchy, providing board seats to the waiting offspring of past and present Mormon elite.

It is absolutely certain that the church finances its for-profit business ventures with tithing funds. If a church-owned company needs capital, it comes from the church. Maybe the company would issue stock to the church rather than loan it money, or maybe the companies issue bonds that the church buys, but the net effect is the same.

The concept is, the church has a whole bunch of money that it needs to do something with. It could put it under the matteress, deposit it in the bank, or seek higher returns by investing it in mutual funds or stocks. The church's leaders think they can make better returns by investing it in businesses they own and opperate rather than by investing it in the businesses of others, so they invest it in their own companies.

Mercury wrote:How likely is it that tithing funds are used to fund for-profit businesses such as the farms, real estate, etc? This could be done via borrowing against equity held in property and well-to-do real estate.

::cough-Temples-cough:::

This clearly would represent the mechanism of support for the Mormon oligarchy, providing board seats to the waiting offspring of past and present Mormon elite.

Interesting question. Of course there is no way to know for sure. We do know and are told that tithing is not used for these kinds of activities, which is really irrelevant since it all came from donations at one point of some from or another and money is fungible. I doubt the Church would pledge buildings for collateral on loans though since it is pretty clear they only dedicate debt free buildings and since the 1960's have become extremely anti debt to run things or to build buildings.

Analytics wrote:It is absolutely certain that the church finances its for-profit business ventures with tithing funds. If a church-owned company needs capital, it comes from the church. Maybe the company would issue stock to the church rather than loan it money, or maybe the companies issue bonds that the church buys, but the net effect is the same.

The concept is, the church has a whole bunch of money that it needs to do something with. It could put it under the matteress, deposit it in the bank, or seek higher returns by investing it in mutual funds or stocks. The church's leaders think they can make better returns by investing it in businesses they own and opperate rather than by investing it in the businesses of others, so they invest it in their own companies.

Which personally I have no problem with. The church leaders should mange the money and get the best return they can. The problem is we are all in the dark. And of course there is the issue of how much should the Church keep in reserves and investments for prudent management and operational purposes as well as to meet its missionary goals, temple goas and other purposes ofr which it exists as well as giving to the poor and needy. From the outside it looks bad when the church spends billions on real estate when maybe that money woul dbe better used to bless the poor. But nobody really knows how much goes where.

Jason Bourne wrote:Which personally I have no problem with. The church leaders should mange the money and get the best return they can. The problem is we are all in the dark.

Precisely.

Jason Bourne wrote: But nobody really knows how much goes where.

And that is exactly the way the Brethren want it.

harmony wrote:

Jason Bourne wrote: But nobody really knows how much goes where.

And that is exactly the way the Brethren want it.

Seem like it.

I suspect the brethren make a distinction between the word donations and the word tithing. Members can donate their money, homes, and land to the church and I would be willing to bet these types of donations are not called tithing.

But again, I'm shooting in the dark like everyone else.

Analytics wrote:It is absolutely certain that the church finances its for-profit business ventures with tithing funds. If a church-owned company needs capital, it comes from the church. Maybe the company would issue stock to the church rather than loan it money, or maybe the companies issue bonds that the church buys, but the net effect is the same.

The concept is, the church has a whole bunch of money that it needs to do something with. It could put it under the matteress, deposit it in the bank, or seek higher returns by investing it in mutual funds or stocks. The church's leaders think they can make better returns by investing it in businesses they own and opperate rather than by investing it in the businesses of others, so they invest it in their own companies.

That concept does not fit with a supposedly altruistic organization. It fits with a capitalistic organization. The LDS corporation should just come out and say its in the business of maximizing its shareholders return (of which LDS members are not a part of) instead of stating its a religion.

Public perception of the LDS church is shifting to the capitalist viewpoint fortunately, so hopefully there will be a RICO-based suit up their alley in the future.

Speaking as to why churches should disclose their finances to anybody who asks, The Evangelical Council for Financial Accountability explained:

Public disclosure protects Christian ministry from the danger of claiming ownership of God's gifts evident in the investments Christian donors make in His kingdom. It also protects us from the temptation to make assets and the acquisition thereof our lasting companion and goal.

Well put.