[4] In 1997, the investment division of the LDS Church was spun off into a separate legal entity named after Ensign Peak, a hill that overlooks Salt Lake City.
Over many years, a portion is methodically safeguarded through wise financial management and the building of a prudent reserve for the future.
"[8] As of 2019, EP's holdings purportedly totaled $100 billion,[9] including $40 billion-worth of U.S. stock, timberland in the Florida panhandle, and investments in prominent hedge funds such as Bridgewater Associates.
[4] Individual shares of stock identified as part of the investment fund reportedly include Apple, Chevron, Visa, JPMorgan Chase, Home Depot, Amazon, and Google.
The requirement to file timely and accurate information on Forms 13F applies to all institutional investment managers, including non-profit and charitable organizations.”[17] Alleged "great lengths" included creating "the impression that the Clone LLCs conducted business operations throughout the U.S., making it more difficult to trace the Clone LLCs back to Ensign Peak or the Church."
The church was granted an en banc appeal of the reinstatement, with the court hearing oral arguments in September 2024.
In an unanimous decision, the appeals court dismissed the lawsuit on January 31, 2025, finding no evidence of fraudulent misrepresentation by the LDS Church.
[21][22] In October 2023, another lawsuit was filed in the United States District Court of Utah by three church members who claim to have donated a total of $350,000.
The plaintiffs seek: a return of tithing paid; judgment to declare the church's financial practices illegal; a halt on the tithing practice altogether “while accountants sort through the faith’s finances or the court appoints a special monitor”; and the creation of a national class of plaintiffs with similar interests.