Finances of the Church of Jesus Christ of Latter-day Saints
It was Moyle who convinced David O. McKay to discontinue publishing an annual financial statement in order to hide the extent of the spending.
[11] Moyle was also responsible for acquiring what is today one of the church's most valuable properties: the Deseret Cattle and Citrus Ranch.
[12] Another highly profitable asset is the Polynesian Cultural Center that became one of Hawaii's most popular tourist attractions under the leadership of Howard W. Hunter during the 1960s and 1970s.
The church also spends its funds on providing social welfare and relief and supporting missionary, educational, and other church-sponsored programs.
[21][22][non-primary source needed] Additionally, mission presidents,[23] who serve full-time in these capacities, can receive compensation from the church in the form of housing, living allowances, and other benefits while they are on assignment.
[27] It has been suggested that recent temple construction represents an attempt by church leadership to “re-energize” congregations in the face of flat numerical growth.
[31][non-primary source needed] AgReserves Inc., Deseret Cattle and Citrus Ranch, and Farmland Reserve, Inc. are part of its welfare distribution system.
[citation needed] As part of CES, the church owns, operates, and subsidizes education at Brigham Young University, BYU–Idaho, BYU–Hawaii, and Ensign College.
Although the families of LDS missionaries (usually young men ages 18–25 or young women above age 19) generally pay US$500 a month for missions [33][non-primary source needed], general church funds are used to assist those who need additional support to pay for their missions.
),[35] In 1995, the church's human resources department estimated that the 96,484 volunteers serving at the time contributed services having an annual value of $360 million.
[40] Ensign Peak Advisors, Inc. (EP) was founded as the LDS Church's investment division in the 1960s and was still considered to be a "shoestring operation" into the 1990s.
[41] In 2019, a former EP employee made a whistleblower report to the IRS alleging that the church held over $100 billion of assets in a large investment fund.
Other species of wildlife include white-tailed deer, American alligator, Osceola turkey, wild hog, Florida bass and nesting bald eagles.
The ranch has created and manages one of the state’s largest wood stork rookeries, a breeding ground for the threatened birds.
[49] The church has plans to develop a large portion of the ranch into more than a dozen neighborhoods for approximately half a million residents.
[59] The church is also known to own banks, hotels and restaurants, real estate development, forestry and mining operations, and transportation and railway companies.
[59] The church's real estate investment arm, Property Reserve, Inc., paid $174.3 million for an industrial park in Hialeah, Florida in or around January 2024.
We are excited by the opportunities available in Australian agriculture and continue to see value from an investment in the sector that has the potential to drive strong returns into the future.
