Welcome to Religious Forums, a friendly forum to discuss all religions in a friendly surrounding.
Your voice is missing! You will need to register to get access to the following site features:We hope to see you as a part of our community soon!
They allegedly keep it around because the belief it be needed when Jesus returns. Because, ya know, a god needs money.I’ve spent most of my career in the insurance industry, so the concept of reserves makes a lot of sense to me. Is 100B “excessive”? I’m not sure. It would be nice to have more transparent finances to be able to get a feel for that.
one number I’ve seen is 1B per year in charitable work. I don’t know where exactly the number comes from or how accurate it is.
the church does self insure all of its properties, so that may be another couple billion. Then there is general operations which is probably another billion or so.
100B seems like a lot. It may well even be “too much”. It’s tough to say. If another 2008 financial crisis happened and half of it disappeared into the ether, and a catastrophe or two happened that required the charitable giving to be significantly multiplied, it might be good that the cushion exists.
I’m curious where you got your 7B in tithing number. I haven’t been able to find a reliable number for that.
Who is alleging that? Do you have a source?They allegedly keep it around because the belief it be needed when Jesus returns. Because, ya know, a god needs money.
That piddly insignificant sum?At what point do you actually start using some of that money for good rather than waiting for the so-called end times?
On a separate note, appears they have sound financial strategies (such as staying out of debt). Although $7B in tithing per year helps.
I'm not necessarily opposed to a church having a lot of money. Many organizations have endowments: big pools of money that help to fund the main organization with the returns from investments. Harvard's endowment is famous for this (though it's still "only" $40 billion, so a fraction of the size of the LDS's pool of funds).At what point do you actually start using some of that money for good rather than waiting for the so-called end times?
On a separate note, appears they have sound financial strategies (such as staying out of debt). Although $7B in tithing per year helps.
Where are you getting that number from for the Catholic Church?To add some context, the Mormon Church’s $100B is more than double the Harvard Endowment or the Bill and Melinda Gates Foundation. And here’s a shocker: it’s double that Catholic Church’s $50B in assets.
Never, AFAICT, since the requirement for tithes is based on a religious commandment, not need for cash per se.At what point does the Church stop asking for tithing from its poor members?
Of all the things that I would be mad at if I were a member of the LDS Church, this is way, WAY down the list.Would you feel angry if you were required to pay tithing to a $100B organization?
At what point do you actually start using some of that money for good rather than waiting for the so-called end times?
On a separate note, appears they have sound financial strategies (such as staying out of debt). Although $7B in tithing per year helps.
It's mostly a huge real estate portfolio, AFAIK.That's good. Except it's just replacable fiat money -not something that takes away from anyone else, since more money can just be printed off and redistributed in it's place.
They should trade it off for an actual commodity, to ensure it's value.
Need to start taxing these rackets.
I don’t think that’s counted in the 100B. Funds to insure, maintain, and obtain more real estate may be included.It's mostly a huge real estate portfolio, AFAIK.
I don’t disagree with you in many cases, but I’m not finding any individuals getting rich off of the Mormon church. I may be missing some though.Organized religion seems to be little more than a money making scheme.
Jailbird Jim Bakker is even selling phony cures for corona virus to his mouth-breathing audience.
"Yo yo, what up homies. Entrance is $10g, but if you want that first row, VIP experience, its $35 large." -Jesus 2043They allegedly keep it around because the belief it be needed when Jesus returns. Because, ya know, a god needs money.
Looking just at the Harvard comparison:To add some context, the Mormon Church’s $100B is more than double the Harvard Endowment or the Bill and Melinda Gates Foundation. And here’s a shocker: it’s double that Catholic Church’s $50B in assets.
At what point does the Church stop asking for tithing from its poor members?
Would you feel angry if you were required to pay tithing to a $100B organization?
No, but if a religion is ran like a business it should be taxed like one.Why? Is there a limit to how much money people / organizations should be allowed to save?