[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.
Question:
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.[1] 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?
Matthew P. Roper (M.S. in Sociology, Brigham Young University) was a resident scholar and research assistant for the Institute for the Study and Preservation of Ancient Religious Studies at Brigham Young University. He is now a Research Associate at Book of Mormon Central.
René Alexander Krywult, a native of Vienna, Austria, Europe, has been a member of FairMormon for over eighteen years and has been instrumental in founding the German-speaking FairMormon group. He is a software developer and project manager for a European financial institution. He is married to Gabriele Krywult, and they have four children and three grandchildren. His first publication was “Mormon Deification Compared to Orthodox Christian Theosis” in the magazine Spirituality in East and West of Dialog Center International, a Protestant network of organizations engaged in researching new religious movements. More articles on the FairMormon website followed. He organized four FairMormon conferences in Germany from 2009 to 2015 and spoke at all of them.
Huh? How could that be? I knew I’d just unplugged the phone.
Matthew McBride is the Director of Publications for the Church History Department of The Church of Jesus Christ of Latter-day Saints. He is the author of A House for the Most High: The Story of the Original Nauvoo Temple, co-editor of Revelations in Context: The Stories behind the Sections of the Doctrine and Covenants, and a contributor to Saints: The Story of the Church of Jesus Christ in the Latter Days. He and his wife Mary and their four children live in American Fork, Utah.
Elder Craig C. Christensen was sustained as a General Authority Seventy of The Church of Jesus Christ of Latter-day Saints on October 5, 2002. At the time of his call he was serving as a member of the Fifth Quorum of the Seventy in the Utah South Area.
