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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. [21] 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 has made similar efforts in the past to provide for the temporal needs of its members. The program is modeled after the Perpetual Emigration Fund, which provided loans to more than 40,000 19th-century Latter-day Saint immigrants looking to settle in the Salt Lake Valley, but lacking the funds to do so.
Ensign Peak Advisors (/ ˈ ɛ n s aɪ n / EN-syne) [3] (EP) is the investment manager for assets of the Church of Jesus Christ of Latter-day Saints (LDS Church). [4]In 1997, the investment division of the LDS Church was spun off into a separate legal entity named after Ensign Peak, a hill that overlooks Salt Lake City. [4]
The Salt Lake Tribune reports on the investment strategies behind a highly valued and hotly debated stock portfolio of The Church of Jesus Christ of Latter-day Saints.
The General Handbook: Serving in The Church of Jesus Christ of Latter-day Saints is an on-line book of instructions and policies for leaders and members of the Church of Jesus Christ of Latter-day Saints (LDS Church). The contents are prepared by the church's First Presidency and Quorum of the Twelve Apostles.
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]).
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.
The Church of Jesus Christ of Latter-day Saints, informally known as the LDS Church or Mormon Church, is the largest Latter Day Saint denomination. Founded by Joseph Smith during the Second Great Awakening , the church is headquartered in Salt Lake City , Utah, and has established congregations and built temples worldwide.