Posted by:
raiku
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)
Date: July 03, 2013 06:10PM
Not many business interests? The main purpose of the businesses is implied to be charity? I think it is more likely their purpose was to comfortably and richly employ GAs, apostles, prophets, and all their friends and family. What a bold faced liar Hinckley was.
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https://www.lds.org/general-conference/1999/10/why-we-do-some-of-the-things-we-do?lang=eng'Now, the next question: “Why is the Church in business?”
We have a few business interests. Not many.
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Are these businesses operated for profit? Of course they are. They operate in a competitive world. They pay taxes. They are important citizens of this community. And they produce a profit, and from that profit comes the money which is used by The Church of Jesus Christ of Latter-day Saints Foundation to help with charitable and worthwhile causes in this community and abroad and, more particularly, to assist in the great humanitarian efforts of the Church."
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http://exmormon.org/d6/drupal/How-Mormon-General-Authorities-are-Paid"In addition there are a number of related businesses that are indirectly owned by the Morg, having been sold or turned over to key members or groups. Quinn reported that ranking General Authorities were partners, officers and directors of over 900 different businesses. It is estimated that the gross revenues of these businesses is in excess to 6 billion dollars per year. The net income or cash which would make its way into the coffers of the Morg would likely be in the 10%-12% range. Add here an additional $720,000 in cash."
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""Now a comparison of Morg charity and humanitarian aid. Ostling (in 'Mormon America') compared the Morg to the Evangelical Lutheran Church of America (ELCA). They had a similar number of reported members in 1997. At that time, the ELCA had $152 Million in assets that was primarily the pension fund for the employees. This is compared to the assets of the Morg as reported above. In 1997 the ELCA raised $11.8 Million for humanitarian aid and $3.64 Million for disaster relief for a total of 15.44 Million in cash donations for charity. In the 14 year period from 1984-1997 the Morg reported cash donations for non-Mormon charity at $30.7 Million, or an average of 2.19 Million per year. This translates to ELCA donating a little over 10% (.10)of its holdings in 1997 and the Mormon Church donating approximately .2% (.002) of its holdings. Most businesses in the US have higher percentage charitable contributions than does the Mormon Church."