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This Sunday: IRS whistleblower to break his silence on LDS Church finances, will speak on ‘60 Minutes’

sunstoned

By sunstoned
in In The News

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sunstoned Grand Master

sunstoned

Posted
Posted
Quote

This Sunday’s edition of “60 Minutes” will lead off with a report about the finances of The Church of Jesus Christ of Latter-day Saints and will feature an on-camera interview with a former senior portfolio manager with faith’s investment wing who turned whistleblower.

The church will get to respond with their view of the SEC ruling.

Quote

Breaking his public silence, Nielsen will speak with “60 Minutes” correspondent Sharyn Alfonsi on the newsmagazine show, which airs Sunday at 6 p.m. 

https://www.sltrib.com/religion/2023/05/11/irs-whistleblower-break-his/

2
teddyaware Grand Master

teddyaware

Posted
Posted
19 minutes ago, sunstoned said:

The church will get to respond with their view of the SEC ruling.

https://www.sltrib.com/religion/2023/05/11/irs-whistleblower-break-his/

From what I understand, Nielsen’s gripe is that the church asserts it’s putting aside a large portion its investment portfolio as a rainy day fund in anticipation of the massive expenditures that will be required during the prophesied days of cataclysmic destruction that will take place prior to the Second Coming of Christ. And since the apostate Nielsen no longer believes the Second Coming is going to become a future reality, he now insists the Church’s claimed reasons for amassing the funds is illegitimate.

Sounds like it could become a separation of church and state Issue. Under the U.S. Constitution, what right does the state have to tell a religious body that one of its most important central beliefs — that there are going to be days of great tribulation preceding the Second Coming — is not a valid reason for putting aside large sums of money? If I have this right, this could shape up to to become a modern twist on the Noah’s Ark narrative. To wit, “there needs to be no money put aside in preparation for the prophesied disasters that are supposedly going to precede the Second Coming because any sane individual knows the Second Coming isn’t going to happen.” But when the Second Coming does happen, this time destroying agent is going be fire rather than water.

helix Experienced

helix

Posted
Posted (edited)
18 hours ago, teddyaware said:

Nielsen’s gripe is that the church asserts it’s putting aside a large portion its investment portfolio as a rainy day fund in anticipation of the massive expenditures that will be required during the prophesied days of cataclysmic destruction that will take place prior to the Second Coming of Christ. And since the apostate Nielsen no longer believes the Second Coming is going to become a future reality, he now insists the Church’s claimed reasons for amassing the funds is illegitimate.

Sounds like it could become a separation of church and state Issue. Under the U.S. Constitution, what right does the state have to tell a religious body that one of its most important central beliefs — that there are going to be days of great tribulation preceding the Second Coming — is not a valid reason for putting aside large sums of money?

Problem is the church has asserted no such thing.

Unfortunately, this is a topic where surprisingly *few* people are interested in trying to get the raw data, and far too many are just looking for an argument with which to smack another. 

What is known:

  • The fund is around $80-$100B in size, as per a recent WSJ article
  • The church (at least up until recently) gave $1B annually in excess donations to the fund to the investment

What is not known:

  • How much the church brings in every year
  • What this money is to be used for

Estimates and guesses vary wildly on the unknown. Unfortunately, too many people are stating speculation as fact.

Edited by helix
1
telnetd Experienced

telnetd

Posted
Posted
18 hours ago, teddyaware said:

From what I understand, Nielsen’s gripe is that the church asserts it’s putting aside a large portion its investment portfolio as a rainy day fund in anticipation of the massive expenditures that will be required during the prophesied days of cataclysmic destruction that will take place prior to the Second Coming of Christ.

When all that cataclysmic destruction takes place prior to the Second Coming of Christ, I suspect
the financial system and instructure will collapse to the point that having money in the bank will
not be able to even to buy things and then distribute it to the people.

Just look at what happens when a place like Puerto Rico gets wiped out by a hurricane. No food,
no clean drinking water, no electricity, no infrastructure.  All that money does not help.
Fortunately they were able to get supplies flown in by place from the mainland USA, but this will
not happen if the disaster is affecting them too.  Money in the bank will not help in those days.

With all the poverty and need in the world today, today is that "rainy day".  When that cataclysm
occurs, the economy will tank, and the LDS Church's investment portfolio will quickly decrease.

Calm Grand Master

Calm

Posted
Posted
8 hours ago, telnetd said:

When all that cataclysmic destruction takes place prior to the Second Coming of Christ, I suspect
the financial system and instructure will collapse to the point that having money in the bank will
not be able to even to buy things and then distribute it to the people.

Just look at what happens when a place like Puerto Rico gets wiped out by a hurricane. No food,
no clean drinking water, no electricity, no infrastructure.  All that money does not help.
Fortunately they were able to get supplies flown in by place from the mainland USA, but this will
not happen if the disaster is affecting them too.  Money in the bank will not help in those days.

With all the poverty and need in the world today, today is that "rainy day".  When that cataclysm
occurs, the economy will tank, and the LDS Church's investment portfolio will quickly decrease.

But if truly prophets they will know what to do in days prior to the disaster in order to best prepare for it.  It does not have to be saved until that time, but only for that time if that comment is correct.

2
teddyaware Grand Master

teddyaware

Posted
Posted (edited)
On 5/12/2023 at 12:53 PM, telnetd said:

When all that cataclysmic destruction takes place prior to the Second Coming of Christ, I suspect
the financial system and instructure will collapse to the point that having money in the bank will
not be able to even to buy things and then distribute it to the people.

Just look at what happens when a place like Puerto Rico gets wiped out by a hurricane. No food,
no clean drinking water, no electricity, no infrastructure.  All that money does not help.
Fortunately they were able to get supplies flown in by place from the mainland USA, but this will
not happen if the disaster is affecting them too.  Money in the bank will not help in those days.

With all the poverty and need in the world today, today is that "rainy day".  When that cataclysm
occurs, the economy will tank, and the LDS Church's investment portfolio will quickly decrease.

The prophesies of scripture on this subject abundantly testify that kingdom of God on earth is going to marvelously triumph over all its enemies, and do so both spiritually and temporally. Meanwhile, those in league with the whore of Babylon are going suffer total, ignominious defeat. It’s only a matter of time before you will see all of these prophecies fulfilled. The kingdom of God is going rise in great glory as the kingdom of the devil is overthrown and burned by fire. But till then, there always have been and always will be those who think the prophets are out to lunch.

Edited by teddyaware
telnetd Experienced

telnetd

Posted
Posted (edited)
13 hours ago, teddyaware said:

But till then, there always have been and always will be those who think the prophets are out to lunch.

The LDS prophets were not out to lunch on this issue.  They acknowledged the deception when they
agreed to pay $5 million to settle the case.

https://abcnews.go.com/US/mormon-church-pays-5-million-settle-accusations-covered/story?id=97359553

Edited by telnetd
webbles Grand Master

webbles

Posted
Posted
8 hours ago, telnetd said:

The LDS prophets were not out to lunch on this issue.  They acknowledged the deception when they
agreed to pay $5 million to settle the case.

https://abcnews.go.com/US/mormon-church-pays-5-million-settle-accusations-covered/story?id=97359553

The SEC fine is completely separate from what Nielsen is alleging.  The SEC fine was about EPA and the Church submitting incorrect forms.  Nielsen is alleging that EPA is not a valid charitable organization and so all of its income (which is a lot) should be taxed.

4
telnetd Experienced

telnetd

Posted
Posted
On 5/15/2023 at 8:47 PM, webbles said:

The SEC fine is completely separate from what Nielsen is alleging.  The SEC fine was about EPA and the Church submitting incorrect forms.  Nielsen is alleging that EPA is not a valid charitable organization and so all of its income (which is a lot) should be taxed.

I stand corrected. Thank you.

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