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The following quote is from a Salt Lake Tribune article on July 13, 2007.

http://www.sltrib.com/faith/ci_6364841

The question of LDS finances has been a sensitive issue since at the least the mid-20th century

Until then, the church gave a detailed financial report every year at its semi annual General Conference. It discontinued the practice, though, when it had to disclose that the church had outspent its income.

In 1957, the LDS Church lost $1 million in tithing funds invested in government bonds, according to a 1996 essay by historian D. Michael Quinn. In 1959, the church outspent its income by $8 million.

"There was good reason for the church's annual financial report to give fewer details," Quinn wrote in Sunstone, an independent LDS magazine.

By 1962 the church deficit was at $32 million and the church was struggling, Quinn said, "to avoid the worst financial crisis of its history."

The church then brought in N. Eldon Tanner, the church's "modern financial wizard," to the LDS First Presidency to lead it back into the black. When the church was firmly back on its feet, there was no incentive to return to the detailed financial accounts of the past. But that doesn't mean people haven't tried to figure out the church's wealth.

In 1997, Time magazine estimated the LDS Church's net worth was between $25 and $35 billion - $12 billion in U.S. meeting houses and temples; $5 billion in meeting houses and temples in foreign countries; $6 billion in unspecified investments; $5 billion in ranch and farm real estate and $1 billion in "schools, etc."

Mormon leaders said the magazine had "grossly exaggerated" the church's wealth and pointed out that the bulk of its assets were "money-consuming, rather than money-producing.''

Was there an official announcement in 1959 stating that the Church would no longer publicize financial information?

Are chapels considered "money-consuming" rather than "money-producing" assets?

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Are chapels considered "money-consuming" rather than "money-producing" assets?

Is that really intended to be a serious question? Surely you are not so stupid that you can't see the answer for yourself.

In case you are, the answer is, "Yes, chapels are (not 'are considered') money-consuming rather than money-producing assets."

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Is that really intended to be a serious question? Surely you are not so stupid that you can't see the answer for yourself.

In case you are, the answer is, "Yes, chapels are (not 'are considered') money-consuming rather than money-producing assets."

"Surely you are not so stupid that you can't see" money being collected at these "money consuming" assets.

"In case you are" there are three men (bishopric) which receive these donations who then pass them onto the clerks. There is even an office dedicated to counting the money and keeping track of the donors.

Money comes in = money producing.

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Is that really intended to be a serious question? Surely you are not so stupid that you can't see the answer for yourself.

In case you are, the answer is, "Yes, chapels are (not 'are considered') money-consuming rather than money-producing assets."

fold your hands, now repeat after me.

This is the church, this is the steeple, look inside and see all the people.

Temples surely are money-producing. If not in direct at the door contributions. They are a product of tithing.

The members would not be members without the formation of Temples. They are the focus of why giving is understood to be purposeful.

Take away the temples and the perceived value they bring to the body and watch the prophets profits dwindle.

son

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People bring in tithing and other donations. Not all ward members, BTW. Perhaps as much as 50% of the ward pay tithing (a conservative estimate at best). Tithing money goes up to various levels. Each ward gets a budget.

What the local and regional church pays for: Programs (ie expensive scouts), many activities (YM, YW, RS, EQ, HP), welfare (many families receive assistance), counselling services (Bishop may pay all or some), travel expenses, gym equipment, scout equipment, primary toys and equipment, wireless networking and support ($$ like you wouldn't believe), computers, church manuals and teaching materials, groundskeeping, building maintainance, heating, electricity, phone service, snow removeal, translation service equipment, audio visual, including various types of projectors, full time physical facilities staff (usually one per building, but there may be one over several buildings depending on geography), family history center support, special counselling for leaders (if they need it), and many other special services.

How much do you think this all costs?

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Just curious, but when assessing the value of the church, do they figure the current land values of the meeting houses/temples? I'm sure the meeting houses they built in 1920 for $5,000...or whatever it might have cost back then...would be worth a couple of million now.

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Just curious, but when assessing the value of the church, do they figure the current land values of the meeting houses/temples? I'm sure the meeting houses they built in 1920 for $5,000...or whatever it might have cost back then...would be worth a couple of million now.

I don't think that the chapel here in Cheyenne , WY would be valued at that? Who knows. Now , a chapel in San Francisco , Seattle or Denver ? It depends on location , location , location. :P

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Two questions:

1.) Have the Church financial records ever been declared sacred and secret? If so, could this not be used as a defense?

2.) What is Peggy Fletcher Stack of the SL Tribune doing quoting from the Evangelical Council of Financial Accountability? They represent no major denominations and a google search finds sites accusing them of being con artists. I do not think they should be linked together in the story with the LDS Church.

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They are both money-producing and money-consuming.

I agree.

If the Church eliminated meetinghouses and just televised meetings or held them online and asked members to mail donations to SLC, would the Church collect as much tithing?

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Just curious, but when assessing the value of the church, do they figure the current land values of the meeting houses/temples? I'm sure the meeting houses they built in 1920 for $5,000...or whatever it might have cost back then...would be worth a couple of million now.

Perhaps it is the equity in this land that allows some of the investments the church makes.

As to the argument of chapels or temples being profit making. Hardly. Once a building is completed there is not only the costs of running the buildings but of supplies (ie lesson manuals), refurbishments, etc. Some wards may not even break even and have to depend on help from the stakes.

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I agree.

If the Church eliminated meetinghouses and just televised meetings or held them online and asked members to mail donations to SLC, would the Church collect as much tithing?

As long as it's required for a TR, yes, they would.

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As to the argument of chapels or temples being profit making. Hardly. Once a building is completed there is not only the costs of running the buildings but of supplies (ie lesson manuals), refurbishments, etc. Some wards may not even break even and have to depend on help from the stakes.

Whether a building is "profitable" is irrelevant to whether it is money-producing. As ed2276 said, they both money-producing and money-consuming. Of course there are some wards in low income areas which will "lose" money. And other wards in high income areas probably pay enough tithing to support many wards.

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