[Editor’s note: Latter-day Saint Charities just released their 2019 Annual Report, available here.]
FairMormon has a service where questions can be submitted and they are answered by volunteers. If you have a question, you can submit it at http://www.fairmormon.org/contact. We will occasionally publish answers here for questions that are commonly asked, or are on topics that are receiving a lot of attention. The question below has been edited for brevity.
A recent article in the Wall Street Journal said that Ensign Peak Advisors has amassed about 100 billion dollars for the Church of Jesus Christ of Latter-day Saints over the years because of prudent investment. I applaud the fact that the Church is fiscally conservative and stays out of debt, however “hoarding” 100 billion dollars seems very excessive given the fact that there is so much poverty in the world. I am concerned that too little (percentage wise compared to the overall revenue) is being given to the poor and needy.
Answer from FairMormon Volunteer Sarah Quan:
Frankly, we don’t know enough about Ensign Peak as a general populace to really say one way or another. The issue is nuanced, and a single whistleblower report is not enough for us to draw a good conclusion about the church’s financial situation or intentions. In response to the WSJ article, Bishop Waddell commented that the budget for humanitarian aid has increased to close to a billion dollars in welfare per year. Here are four doctrinal considerations to help us better understand the church’s position. [Read more…] about FairMormon Questions: Is the church excessively “hoarding” money that should be given to charities?