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Financial Disclosure
4 months ago  ::  Jan 22, 2012 - 11:17PM #1
OMBF
Posts: 275
Glad to see Mitt is willing to some degree (releasing his tax records).  When will the LDS ever open up their books?
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4 months ago  ::  Jan 23, 2012 - 1:01AM #2
Aka_me
Posts: 6,645

and what benefit would it be to the church?


in the UK they are required by law to report, so the church complies there.


this is as much as can be calculated.


two points worth noting:


10% personal tithing was not required until Lorenzo Snow was trying to get out of 2.3 million in debt.


the church DID publish financial reports until 1959.


why would they suddenly STOP publishing reports?


how does that feel to be a lawnmower man? must be a real rush.
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4 months ago  ::  Jan 24, 2012 - 10:49AM #3
Kemmer
Posts: 12,481

the church DID publish financial reports until 1959.


why would they suddenly STOP publishing reports?



The church got so embarrassingly rich that it's financial records became "none of the faithfuls' beeswax" lest the tithing fall off.

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4 months ago  ::  Jan 24, 2012 - 12:15PM #4
mecdukebec
Posts: 11,897

R-money is LD$.

A conservative is someone who believes that firefighters, teachers, and police officers are overpaid. 

"Wesley told the early Methodists to gain all they could and save all they could so that they could give all they could. It means that I consider my money to belong to God and I see myself as one of the hungry people who needs to get fed with God’s money. If I really have put all my trust in Jesus Christ as savior and Lord, then nothing I have is really my own anymore." 

Republicans experience suffering the way they experience all their virtues, i.e. vicariously. 

According to "just war" standards of Christian theology, if Saddam Hussein killed 30,000 Iraqis, and the Iraq War killed 120,00, how was the War "just"?
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4 months ago  ::  Jan 24, 2012 - 2:40PM #5
Aka_me
Posts: 6,645

Jan 24, 2012 -- 10:49AM, Kemmer wrote:


the church DID publish financial reports until 1959.


why would they suddenly STOP publishing reports?



The church got so embarrassingly rich that it's financial records became "none of the faithfuls' beeswax" lest the tithing fall off.



that would almost support a "look how right the church is" indirect kind of boasting.


the opposite is more believable, that leaders pert near ran the corporation into the ground...


"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.""

how does that feel to be a lawnmower man? must be a real rush.
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4 months ago  ::  Jan 25, 2012 - 1:04AM #6
Kemmer
Posts: 12,481

So Mitt paid 13.9% in 2010,  hurriedly closed a Swiss account, and has money "hidden" in the Caymans.

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4 months ago  ::  Jan 25, 2012 - 1:11PM #7
Aka_me
Posts: 6,645

Jan 25, 2012 -- 1:04AM, Kemmer wrote:


So Mitt paid 13.9% in 2010,  hurriedly closed a Swiss account, and has money "hidden" in the Caymans.



swiss account


cayman account


and his momentum is waning.

how does that feel to be a lawnmower man? must be a real rush.
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4 months ago  ::  Jan 26, 2012 - 12:59AM #8
moksha8088
Posts: 4,174

Around 1959 there was more construction work than income to adequately cover it.  The books never reopened when the Church got out of the red.

Cry Heaven and let loose the Penguins of Peace
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4 months ago  ::  Jan 26, 2012 - 10:58AM #9
Kemmer
Posts: 12,481

Jan 26, 2012 -- 12:59AM, moksha8088 wrote:


Around 1959 there was more construction work than income to adequately cover it.  The books never reopened when the Church got out of the red.




Maybe that $4.2 million tithe Mitt sent in helped.


There was an article in today's Sacramento paper about tithing.  It's not strictly biblical, and many churches have stopped passing the plate in favor of a box or something at the rear of the church for people to donate whatever they can or wish to.  And "heaven" is certainly NOT denied to anyone who fails to feed the kitty, nor does the church send out "visitors" to shake down the faithful or bar attendance at church to those who don't empty their wallets into the collection box.

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4 months ago  ::  Jan 26, 2012 - 2:48PM #10
Aka_me
Posts: 6,645

Jan 26, 2012 -- 12:59AM, moksha8088 wrote:


Around 1959 there was more construction work than income to adequately cover it.  The books never reopened when the Church got out of the red.




a sudden 8 million overrun by construction in 1959 is understandable. but the amount grew to 32 million over the next 3 years:


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.


go to www.usinflationcalculator.com/


enter 1962


and 32,000,000


and 2011


that amounts to a debt of 238,345,960.26 by today's value


if Heavenly Father attended the annual shareholders meetings where a 2 hundred billion dollar debt was announced...


wouldn't it make sense for anyone to question how inspired leaders could have created such a predicament?

how does that feel to be a lawnmower man? must be a real rush.
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