If anyone is in a position to know the ins and outs of the LDS business empire, it’s Keith McMullin. He’s spent the past 17 years serving as the No. 2 counselor in the church’s so-called Presiding Bishopric, a three-man team that officially controls church finances and business endeavors
McMullin says the Mormon Church has “two or three or four for-profit entities under the Presiding Bishopric,”
Is it two...or three...or four...? After 17 years you'd think he might know...
He also confirms the Hoover’s estimate that DMC has annual revenues of roughly $1.2 billion, but a church spokesman later writes to say that McMullin retracted his estimate, claiming that $1.2 billion is “vastly overstated.” He did not offer a new one.
He spends 17 years overseeing DMC, becomes it's CEO and yet errantly 'vastly overstates' its revenue estimates?
In some cases money flows in the opposite direction, from the church’s treasury to the businesses. “From time to time, if there is a particular need, there would be some monies available, but fortunately over the years that has not been the case very often,” says McMullin. “If you have a particular reversal in an enterprise, you need to have some additional cash flow until you work through a difficult time. I’ll give you an example, we’re going through one right now: It’s called a recession.” McMullin declined to elaborate on whether the church has been bailing out subsidiaries.
I'm guessing he couldn't think of a quick faith promoting answer to that one, unlike....
Really? 'Total Needs'? Hmmm, I wonder if Keith remembers saying this at a General Conference...“The Church of Jesus Christ of Latter-day Saints attends to the total needs of its members,”
Which sounds remarkably like him telling the members to sort themselves out.Lay up in store. Wives are instrumental in this work, but they need husbands who lead out in family preparedness. Children need parents who instill in them this righteous tradition. They will then do likewise with their children, and their stores will not fail.
A cardinal principle of the gospel is to prepare for the day of scarcity. Work, industry, frugality are part of the royal order of life. Remember these words from Paul: “If any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel.”
“We look to not only the spiritual but also the temporal, and we believe that a person who is impoverished temporally cannot blossom spiritually
So, according to McMullin, impoverished people can't blossom spiritually...Really?
“It’s for furthering the aim of the church to make, if you will, bad men good, and good men better"
Great new marketing strap line for City Creek - "Come shopping, we make bad men good and good men better, hurry limited offer only"
“They run their businesses like businesses, no bones about it"
Really? What business would make an investment where, when asked if it was going to turn a profit the answer was...
“Yes, but so modest that you would never have made such an investment"
And yet more double speak from McMullin...
According to McMullin, DMC alone employs 1,400 “people who are volunteering their time and their services—some are part-time and some are volunteer"
After my interview with McMullin, a church spokesman clarified that the majority of the 1,400 “are part-time employees, not volunteers"
A final word from our sponsor...
The law of tithing is how the Lord funds His Church. Today all faithful members of The Church of Jesus Christ of Latter-day Saints contribute one tenth of their income as tithing.
Tithing funds are used for:
Constructing temples, chapels, and other buildings.
Providing operating funds for the Church.
Funding the missionary program (This does not include individual missionary expenses.)
Preparing materials used in Church classes and organizations.
Temple work, family history, and many other important Church functions.
Education.
Seems a slightly incomplete list...hey Keith...?