LDS Church kept the lid on its $100B fund for fear tithing receipts would fall, account boss tells Wall Street Journal
www.sltrib.com
Latter-day Saint officials kept the size of the church’s $100 billion investment reserves secret for fear that public knowledge of the fund’s wealth might discourage members from paying tithing, according to the top executive who oversees the account.

They are required to talk about anything over $100 million but they “didn’t want people to be discouraged about tithing to them.”

I was looking up if they owned any Pepsi stock still and apparently if they do, they’re not talking about that either.

  • mind@lemmy.worldEnglish
    422·
    1 year ago

    It’s surprising more businesses don’t go this route to boost profits.

    Scientology infiltrated the IRS and has people kidnapped in known locations, and still gets nonprofit status.

    Many hospitals pay their gains as salaries instead of stock dividends to get the nonprofit designation. Each $40 single-serve aspirine a patient can’t pay for becomes a tax write-off. Any mediocre accountant could make any lucrative hospital look like a nonprofit.

    There’s a church near me that rents out rooms and sells food all tax free. Just a hotel that put up a cross to boost their margins 5x.