Mormon Church accused of stockpiling billions, avoiding paying taxes

By Cheri Mossburg and Stephanie Becker, CNN

CNN — The Church of Jesus Christ of Latter-day Saints, commonly referred to as the Mormon Church, responded Tuesday to a recently-filed whistleblower complaint that accuses the church of stockpiling $100 billion in accounts intended for charitable works, misleading members and avoiding paying taxes.

A whistleblower alleges in the complaint, filed with the IRS, that billions of dollars collected in tithes — mandatory donations by members — were invested in an investment arm of the church — Ensign Peak Advisors — but in 22 years, has not been distributed to charitable causes in accordance with IRS rules, according to a report in the Washington Post.

The Church of Jesus Christ of Latter-day Saints Fast Facts

“Claims being currently circulated are based on a narrow perspective and limited information,” the LDS Church told CNN in a statement. “The Church complies with all applicable law governing our donations, investments, taxes, and reserves. We continue to welcome the opportunity to work with officials to address questions they may have.”

The complaint was first reported by the Washington Post. The whistleblower is a Mormon who worked for the church until September. He is a former investment manager at Ensign Peak Advisors, the Post reported. He has not responded to CNN’s request for comment.

Read further

Suggested reading by Zia H Shah MD

Nobel Prize for a noble woman

We Will be Judged by Our Compassion and Deeds and Not Our Dogma

PM New Zealand: ‘The believers in their mutual kindness, compassion, and sympathy are just like one body’

Video: Prince William Draws Upon Princess Diana’s Death In Powerful Speech in New Zealand Mosque

Two Hundred Verses about Compassionate Living in the Quran

A Message of Compassion and Love from the Holy Bible

True Fasting: A Message of Compassion and Love from the Old Testament

Abou Ben Adhem, A Compassionate Man

‘Love Hormone,’ How it works in Hospitality?

‘Love Hormone’ Oxytocin May Enhance Feelings Of Spirituality

1 reply

  1. I suppose the Mormon Church is tax-exempt. What would remain is why they are keeping so much money instead of spending it on what it was intended for. (if the News is correct at all)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.