Whistleblower - Ensign Peak Advisors

[tooblue]

They do not address transparency until the last paragraph. But I see this author is a student of my posts. Based on available information, the Church has not done anything wrong or illegal (leaving aside whether government allowing religions to be exempt from income tax is good or bad policy or laws). This "scandal" is stupid.

On the other hand, I agree with Cardiac that over $1 billion donated to charities is not necessarily impressive. I'd have to know more. What are its revenues? It's a religion; this is one of its reasons for being. But this is beside the point of the current controversy.

It would have to qualify as a scandal first before it could be qualified as stupid. And I'm fairly certain Cardiac didn't really consider that if the church funded 155 projects at an average of $10 million that they potentially gave away one billion five hundred fifty million dollars in 2018. That's on top of what they spend to maintain current LDS infrastructure.

A few pages ago in this thread posters were lamenting the fact it appeared the church might only be giving away $30 - 40 million a year to charities outside of core LDS infrastructure related charitable projects. Frankly, going from giving away 30 - 40 million to giving away well over 1 billion is certainly impressive. Especially, if you start to ask how many consecutive years they have been giving that amount of money away, and how much more more they intend to give away going forward.

[Mormon Red Death]

Interesting podcast from the wall Street journal about the fund

https://video-api.wsj.com/podcast/rss/wsj/the-journal

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[Mormon Red Death]

https://www.businessinsider.com/morm...mpression=true



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[LVAllen]

https://www.businessinsider.com/morm...mpression=true



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Stop the presses. An investment that includes one stock among many others, returned a 900% return on that stock when that stock increased in price by 900%.

I guess "Mormon church loses shirt over AMD investment" wasn't a sexy headline.

[Non Sequitur]

Mr Magoo has a better handle on the optics of this than you.

[Moliere]

Nice to see the church participate in the short squeeze of the hedge funds.


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[Donuthole]

Mr Magoo has a better handle on the optics of this than you.

But your opposing biases somehow allow you to see things clearly?

[Jeff Lebowski]

Stop the presses. An investment that includes one stock among many others, returned a 900% return on that stock when that stock increased in price by 900%.

I guess "Mormon church loses shirt over AMD investment" wasn't a sexy headline.

Lol. That game stop buy represents 0.001% of their holdings. But sure, let's write an article about it.

[Non Sequitur]

Lol. That game stop buy represents 0.001% of their holdings. But sure, let's write an article about it.

It's not about the 0.001%. The thing that doesn't smell right is the size of the part that isn't the 0.001%. I'm not a New Testament scholar, so refresh me on which of the disciples was tasked with managing the early church's holdings?

[All-American]

It's not about the 0.001%. The thing that doesn't smell right is the size of the part that isn't the 0.001%. I'm not a New Testament scholar, so refresh me on which of the disciples was tasked with managing the early church's holdings?

This just in. Church has money. Lots of it.

How you’ll feel about that is up to you I guess. Goodness knows we’ve seen nothing in the last year to suggest the need for a rainy day fund.

[BigFatMeanie]

If they're required to disclose their holdings then how "secretive" and "mysterious" can it really be? Yawn.

[Northwestcoug]

Here church, here’s some free PR. You know what 100 billion gets you for 16 million members? About 6000 bucks per. That ain’t much.

You’re welcome.

[Shaka]

It's not about the 0.001%. The thing that doesn't smell right is the size of the part that isn't the 0.001%. I'm not a New Testament scholar, so refresh me on which of the disciples was tasked with managing the early church's holdings?

Smells fine to me.

[All-American]

Smells fine to me.

1. The church asks its millions of members to contribute 10 percent of their income, and many do.

2. The church is financially conservative, operates within its means, and wisely manages the rest.

Wake me up when somebody has a news story that is not the natural if not inevitable consequence of 1 and 2.

[Bo Diddley]

I imagine the Church has a wish list of things they'd like to be able to do with their money, but the reality of a world-wide church limits what they can do. Anyone who wrings their hands over the amount of money the Church is sitting on simply doesn't understand the scale of church operations.