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The LDS Church used to give a financial report at conference and members used to be able to look at it.
Then it all stopped.

Why?
What is being hidden?
Why no relief society bake sales with the excuse of 'severe tax consequences for the church' as the excuse given? What is so bad that $40 dollars of home baked pies and cookies will set the IRS on the LDS Church?

Would really like to see the financial records and most especially the accounting of swindled/stolen money and property.

squawkeye wrote:The LDS Church used to give a financial report at conference and members used to be able to look at it.
Then it all stopped.

Why?
What is being hidden?
Why no relief society bake sales with the excuse of 'severe tax consequences for the church' as the excuse given? What is so bad that $40 dollars of home baked pies and cookies will set the IRS on the LDS Church?

Would really like to see the financial records and most especially the accounting of swindled/stolen money and property.

Step one: Get money from gullible people through tithing.

Step two: buy Real Estate and build buildings with tithing money and do so at inflated prices. Siphon off money to friends and family members "involved" with the construction or real estate purchase. give jobs to your friends and family and support your social network with this money, just like dad and grandpa and many other Mormon elite have been doing since Joseph Smith.

Step three: Leverage the assets to borrow money, creating for-profit capital thus sustaining the Front businesses with funds.

Money is money. If you use an asset obtained through tithing and leverage what you spend that money on, that's still tax fraud. It is my belief that the city creek venture is an escape plan for when the govt finally wises up to the systemic corruption and misrepresentation that has been fueling the Mormon elite for over a century.

Money is money. If you use an asset obtained through tithing and leverage what you spend that money on, that's still tax fraud. It is my belief that the city creek venture is an escape plan for when the govt finally wises up to the systemic corruption and misrepresentation that has been fueling the Mormon elite for over a century.

How is this tax fraud?

Jason Bourne wrote:

Money is money. If you use an asset obtained through tithing and leverage what you spend that money on, that's still tax fraud. It is my belief that the city creek venture is an escape plan for when the govt finally wises up to the systemic corruption and misrepresentation that has been fueling the Mormon elite for over a century.

How is this tax fraud?

Collect money under the banner of a religious, nonprofit organization. Use it to buy into real estate and leverage these assets YOU OBTAINED THROUGH REPRESENTING YOURSELF AS A NON PROFIT.

Read it again Jason.

It seems like after an organization gets to 5 Billion a year, it would be impossible to be not-for-profit.

I doesn't appear that they are spending that much on humanitarian efforts. They do a minimal amount to get in the papers where people trumpet the good the church does.

Mercury wrote:Step two: buy Real Estate and build buildings with tithing money and do so at inflated prices.

You mean like this? http://www.azcentral.com/arizonarepubli ... d1102.html

"Fulton Homes founder Ira Fulton is a high-profile Mormon and philanthropist who has donated more than $250 million combined to Arizona State University, the church-owned Brigham Young University and the University of Utah."

"Kush said he has spent the past several months analyzing land deals and has seen raw, unimproved land in Maricopa selling for half the $37,000-per-acre price Property Reserve paid."

Were I still a believing tithepayer this would even have roused my curiosity. Paying double the going rate for land so that a couple old LDS fatcats and BYU donors could cut their losses during a real estate bust.

Squawkeye wrote:What is being hidden?

I think the closed books basically helps conceal what LDS, Inc. really is. If folks could see under the hood, they'd realize that religion is really the facade, a calling card for a business empire. Salvation was the original product, was once a great selling product, but the kingdom has much more worldly than spiritual ambitions, a fact which would be obvious if the books were open.

I'm still amazed that the IRS doesn't require the LDS church (or any NFP) to release their financial records. How is this possible?

In my post-LDS days, I've attended a few non-LDS congregations. Every one of them has open accounting, meaning that the books were openly available to any member who inquired. Most of the churches I attended even publish weekly and year-to-date income / expense numbers on the back page of the agenda they hand out for the service.

It doesn't surprise me that run-of-the-mill LDS accept whatever is read over the pulpit at general conference. What astounds me is how a multi-billion dollar "church" can claim NFP status while NOT releasing basic financial information to the public, or at least to those who "donate".

If anyone is familiar with the IRS rules, I'd be interested to hear them.

Yesterday, we had a combined Relief Society/EQ/HP "State of the Ward" meeting with the Bishop, where he mentioned basic "activity" statistics (we're at about 50%), and he mentioned our ward is a surplus ward for Fast Offerings. It would have been a natural setting to share other information as well.

How is this tax fraud?

Collect money under the banner of a religious, nonprofit organization. Use it to buy into real estate and leverage these assets YOU OBTAINED THROUGH REPRESENTING YOURSELF AS A NON PROFIT.

Read it again Jason.

Under tax law,all NFPs can take money that they received tax free and invest it in a variety of endeavors. For example they can invest it. If a certain percent of investment income is used in the NFPs mission or purpose it is tax free. If not, or if it is used for what is called Unrelated Business Income it is taxed. Also, an NFP can set up companies that are for profit ventures and own stock in those companies. An NFP can own a for profit company. Of course it pays tax on the profits from such activity. There is nothing illegal under current tax law for NFPs to do this. They do it all the time. What you describe is thus not tax fraud.

It seems like after an organization gets to 5 Billion a year, it would be impossible to be not-for-profit.

Why? I bet there are other NFPs that get more than that.

I doesn't appear that they are spending that much on humanitarian efforts.

Many NFPs do not spend a dime on humanitarian efforts. Colleges are NFPs. They don't spend a dime on such activities. How about Unions?

And by the way,if you add in fast offering assistance the LDS Chuch spend substantial sums on humanitarian assistance.

They do a minimal amount to get in the papers where people trumpet the good the church does.

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Damned if they do and damned if they don't.