After a drop in the third quarter, Ensign Peak Advisors’ portfolio bounced back to end the year with a total value above $52 billion.
The Church of Jesus Christ of Latter-day Saints closed out 2021 and all those crazy stock market swings with an $8.2 billion gain to its portfolio over the previous year.
New Securities and Exchange Commission filings show the church account of stocks and mutual funds managed by its Salt Lake City-based investment firm, Ensign Peak Advisors, wrapped up last year worth $52.3 billion — nearly $22.4 billion higher than at the onset of the coronavirus pandemic.
It’s worth noting this profit is only one aspect of the Church’s holdings. Were you to consider increase in its other liquid investments, and growth in the value of assets such as land and property, the amount by which the Church profited during the pandemic will be astronomical.
By comparison it’s humanitarian aid spending will be a drop in the ocean - if they bother declaring it.
Incredible how it is still referred to as a 'church'.
Don't be cynical. The purpose of the money is to serve as a "rainy day fund." If something really bad happens like, say, a global pandemic, the money is there to allow the church to help out its members and their neighbors when they need it most.
Through year end 2021, the estimate was $45 billion in profits during the pandemic. Obviously that would be a little lower today with markets down YTD.
Through year end 2021, the estimate was $45 billion in profits during the pandemic. Obviously that would be a little lower today with markets down YTD.
Nice presentation. Very clear and succinct.
he/him When a Religion is good, I conceive that it will support itself; and when it cannot support itself, and God does not take care to support, so that its Professors are oblig’d to call for the help of the Civil Power, ’tis a Sign, I apprehend, of its being a bad one.
Through year end 2021, the estimate was $45 billion in profits during the pandemic. Obviously that would be a little lower today with markets down YTD.
I’m sure tithe-paying members likewise saw their circumstances improve by similar ratios during the pandemic…
Through year end 2021, the estimate was $45 billion in profits during the pandemic. Obviously that would be a little lower today with markets down YTD.
I’m sure tithe-paying members likewise saw their circumstances improve by similar ratios during the pandemic…
Yeah... church earned profits of roughly $1,000 per active member during Covid.
I'm sure bishops could have identified plenty of members who lost their jobs in 2020 and could have really used that $1,000 from the "rainy day fund."
I’m sure tithe-paying members likewise saw their circumstances improve by similar ratios during the pandemic…
Yeah... church earned profits of roughly $1,000 per active member during Covid.
I'm sure bishops could have identified plenty of members who lost their jobs in 2020 and could have really used that $1,000 from the "rainy day fund."
It’s interesting that LDS Charities have stopped reporting a total financial number within their annual report. There’s lots of activity and program numbers of course, and they do a lot of good. But in comparison to the amount the Church has profited by in liquid funds in just one part of its financial portfolio, it would be an embarrassingly low number (were it considered a faith promoting number it would be published in a heartbeat).
You can an organisations priority by how it uses funds. The Church overwhelmingly hoards money, even during times of extreme difficulty for members and others around the globe. The Church is not primarily a charity and I’m staggered that the tax authorities have been too scared or too inept to address that.
Incredible how it is still referred to as a 'church'.
Don't be cynical. The purpose of the money is to serve as a "rainy day fund." If something really bad happens like, say, a global pandemic, the money is there to allow the church to help out its members and their neighbors when they need it most.
Cynical? No, truthful and serious... it's nothing but a gargantuan, multi-hundred billion dollar real estate corporation masquerading as a religion!