The Fifth Estate: The Mormons' Book

[OnlinePoker]

CBC News magazine The Fifth Estate reveals how much money the Mormon church has raised in Canada and where much of it has gone. Some former members in Canada and elsewhere say it’s led them to leave the church.

(spoiler alert - since 2007, over $1 Billion Canadian to Brigham Young University) But there's a lot more in this report about Church financial and real estate holdings in the U.S. I'm posting this hoping it's available to watch in the U.S. (I get blocked for many American news shows).

https://www.cbc.ca/player/play/2092146755788

[republianmushroom]

1. LIKE

[Bernardo de La Paz]

2. In Canada, illegal to solicit for charity (as Mormon church did) and not use it for charity

The money appears to have simply flowed out from Canadian suckers to coffers at the university, not charity.

Cross-border flows of money attract attention from law enforcement.

[keithbvadu2]

3. Big religion is big money. Quelle Surprise!

Big religion is big money.

Quelle Surprise!

[Deep State Witch]

4. A Mormon woman I know

On-line was saying that her daughter is doing her mission in Edmonton, Canada. I really had to hold back on commenting what I think of Mormons in the US and Canada, and missionaries altogether.

[2naSalit]

5. They have their own...

Christi-fascist world domination agenda.

[leftyladyfrommo]

6. When I lived in SLC in the '60s the church owned a

huge amount of land. They had business holdings in Hawaii. Cattle ranches in Texas. A large portion of Utah

They are big business. They own land here in KCMO.

[OnlinePoker]

7. According to the show, they are the largest single land owner in the U.S.

I'm assuming that doesn't include the government.

[leftyladyfrommo]

8. Wouldn't surprise me. I heard they own a big share

Of Coke a Cola. The church is very powerful

[OnlinePoker]

10. Which is bizarre because they can't drink it due to the caffeine. n/t

[leftyladyfrommo]

11. I heard that changed after they bought into the company.

[canetoad]

9. Lengthy article about this here

Looks like it's news in more that North America.

Mormon church invests billions of dollars while grossly overstating its charitable giving

The church has amassed more than $100 billion in a tax-free fund that invests in multinational companies, as a former member describes it as a ‘business dabbling in religion’.

The global Mormon church has overstated the amount it gives in charity by more than $US1 billion ($1.56 billion), apparently to make itself appear more generous than it actually is, and the US-based church is now under scrutiny over an alleged international tax minimisation scheme that involves Australia-based church entities.

The Utah-based Church of Jesus Christ of Latter-day Saints (commonly called the Mormons) has built an extraordinary pile of tax-free wealth by requiring its 16 million members to “tithe”, or pay 10 per cent of their income to the church. But its own accounts show it actually gives to charities less than 1 per cent of what it receives.

In addition, the church runs a $US100 billion, tax-free investment fund, Ensign Peak Advisors, which has quietly built up major stakes in blue-chip firms and now has multibillion-dollar investments in Apple, Microsoft, Amazon and Google owner Alphabet. It also invests in major weapons manufacturers including Lockheed Martin, Boeing and Northrop Grumman.

https://www.theage.com.au/national/mormon-church-invests-billions-of-dollars-while-grossly-overstating-its-charitable-giving-20220927-p5blbc.html