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Deseret Management Corporation (DMC) (/ ˌ d ɛ z ə ˈ r ɛ t / ⓘ) [1] is an American operating company, managing select global, for-profit entities affiliated with the Church of Jesus Christ of Latter-day Saints (LDS Church). It was established in 1966 [2] by church president David O. McKay [3] to hold already-existing church media assets. [4]
Catholic Church in Australia: 23.25 Australia: Catholicism: Extrapolated figure from calculating assets and investments in the state of Victoria. [7] Seventh-day Adventist Church: 15.6 United States: Adventism: As of 1998. [8] Church of England: 13.84 United Kingdom: Anglican: Endowment funds. [9] Church of Sweden: 11.41 Sweden: Lutheran: FY2012.
The church is also known to own banks, hotels and restaurants, real estate development, forestry and mining operations, and transportation and railway companies. [63] The church's real estate investment arm, Property Reserve, Inc., paid $174.3 million for an industrial park in Hialeah, Florida in or around January 2024. [64]
The investment arm of the Mormon church revealed its stock holdings in a 13F filing last week. The church has amassed a portfolio of individual stocks worth $55 billion. A top AI stock is a new ...
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 church has owned Deseret Ranches, a 290,000-acre cattle and citrus farm spanning three counties in Central Florida and located about 50 miles from Orlando International Airport, for over 60 years.
Bonneville International Corporation is a media and broadcasting company, wholly owned by the Church of Jesus Christ of Latter-day Saints (LDS Church) through its for-profit arm, Deseret Management Corporation.
The allegations of the illicit shell company structure first emerged in 2018, when a group formerly called MormonLeaks – now known as the Truth and Transparency Foundation – claimed that year ...