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According to the LDS Church, most of its revenues come in the form of tithes and fast offerings contributed by members. [15] Tithing donations are used to support operations of the church, including construction and maintenance of buildings and other facilities, and are transferred from local units directly to church headquarters in Salt Lake City, where the funds are centrally managed.
The LDS Church is the largest branch of the Latter Day Saint movement, with membership estimated at 16.6 million as of December 31, 2020. [7] The LDS Church was estimated to have received tithing donations totaling between $7 billion [8] [9] and $33 billion [10] USD in the year 2012 (equivalent to $9.3 billion to $43.8 billion in 2023 [11]).
A federal lawsuit filed Tuesday alleges The Church of Jesus Christ of Latter-day Saints investment arm misused hundreds of thousands of dollars donated by three men by investing the money instead ...
The Council on the Disposition of the Tithes is a leadership body in the Church of Jesus Christ of Latter-day Saints (LDS Church), composed of the First Presidency, the Presiding Bishopric, and Quorum of the Twelve Apostles. The council determines how tithing funds of the church will be spent. The council oversees revenue, investments and ...
Analysis of the $54.7 billion stock fund managed by the faith's investment arm, Ensign Peak Advisors, shows money managers have carefully steered those huge holdings to closely mirror the ...
Tithing funds are used to build and maintain meetinghouses, temples, and educational facilities; for the general maintenance of church operations; and for costs of missionary and genealogical and family history work.
Along with the First Presidency and Quorum of the Twelve Apostles, the Presiding Bishopric is a part of the Council on the Disposition of the Tithes, a group that oversees and authorizes the expenditure of all tithing funds. The Presiding Bishopric is also responsible for overseeing the church's Aaronic priesthood, although most of the work in ...
On February 21, 2023, the United States Securities and Exchange Commission (SEC) charged the Church of Jesus Christ of Latter-day Saints (LDS Church) and its non-profit investment arm, Ensign Peak Advisors (EP), for failing to disclose the LDS Church's investments, and instead creating shell companies whose purpose was to obscure the church's portfolio.