Quote:
Originally Posted by Adam
And this is the crux of the problem with disclosure. Nearly every thinking Mormon would agree with you.
Many people suspect, and there are whisperings from those who work in the great and spacious HQ building that the Church has multiple billions of dollars in stocks, bonds, REITs and other liquid or semi-liquid pools. It would cause a major crisis if this were disclosed.
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No. This is the standard of care for any organization with a savings account such as an endowment. The standard of care is to put the money in a diversified portfolio including income producing securities and to protect and help grow the corpus including inflation proofing it. Income from this is then applied to good works, after preserving the corpus. If the LDS Churh were doing anything other than this with even $1 million is what ought to cause a cry of outrage among thinking people.
By the way, noting that the LDS Church has temples on expensive real estate in places like Hong Kong doesn't of itself impress me. Once a person or organization gets beyond taking care of basic needs wealth becomes much about relative wealth. Of course the LDS Church is more wealthy than most individuals or organiztions. But how rich is the LDS Church compared to the Metropolitan Museum (which is endowed), the New York Public Library? Without establishing come comparative benchmark with other non-profit organizations the point that the LDS Church has $x bilions or $x hundreds of millions saved up is meaningless.