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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]
The following is a partial list of assets known to be owned or controlled by the LDS Church: AgReserves - the largest producer of nuts in the United States (circa. 1997) [1] Beneficial Financial Group - An insurance and financial services company with assets of $3.1 billion. [56] Bonneville International - the 14th largest radio chain in the U ...
Some sources suggest a value as high as $265.62 billion, while others put it closer to $47.24 billion due to limited public data on the Church's finances. Former totals the value of land, real estate, investments and holdings of the Catholic Church and its institutions.
The company's first CEO, Clark Gilbert, [1] served from DDM's founding in 2009 until 2015 when he was named president of BYU-Idaho. [2] Gilbert later became an LDS Church general authority and as of 2024 continues to serve as the commissioner of the Church Educational System. [3] Greg Peterson was DDM's president from 2016 to 2021. [4]
KZMJ, owned by Urban One Houston: KLDE 94.5 1997–1998 KTBZ-FM, owned by iHeartMedia Salt Lake City: KUTR 820 2004–2008 Owned by Truth Broadcasting Corporation St. George: KDXU 890 2003–2006 Owned by Townsquare Media: KUNF 1210 2003–2006 KHKR, owned by Townsquare Media KREC 98.1 2003–2006 Owned by Townsquare Media KSNN 106.1 2003–2006
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]
Brigham Young, LDS Church president, was the bank's first president, and the bank was intended to encourage immigration to Utah and further the financial interests of the church. [4] During the Panic of 1893, the bank managed to remain solvent despite difficulties. [5] During the early 20th century, Zions financed such firms as: [5] [3]
AgReserves, Inc. (AgReserves) is a multinational agriculture for-profit company ultimately owned by the Church of Jesus Christ of Latter-day Saints (LDS Church) and based in Salt Lake City, Utah. It is speculated that AgReserves holds the "most valuable private real estate portfolio in the U.S." [1]