Big News: The "church" finally admitted that tithing money funds its for-profit businesses
A common refrain from Mormon⁄LDS members such as yourself defending the church's finances is that tithing money and business money are somehow separate. (Typically used when trying to justify the church building City Creek, luxury housing, etc). Well, the church just smashed that argument to pieces with its financial release today:
Resources used to carry out this work come principally from the tithing donations of Church members. A small portion of funds comes from businesses maintained by the Church.
Q: Where does the money for the Church’s reserves come from?
The vast majority of Church operations are funded through the sacred tithes and offerings given by members. The Church operates within its means and sets aside a portion of its funds each year. The Church follows the financial principles it teaches: living within a budget, avoiding debt, and saving and investing for the future.
So far so good. No TBM would quibble with that. They'd feel smugly righteous about it. But wait, this part is the clincher:
Church members are taught to “gradually build a financial reserve by regularly saving [a portion of their income]” (Providing in the Lord’s Way: Summary of a Leader’s Guide to Welfare [booklet, 2009], 2). The Church applies this same principle in its own savings and investments. In addition to food and emergency supplies, the Church also sets aside funds each year for future needs. These funds are added to Church reserves, which include stocks and bonds, taxable businesses, agricultural interests and commercial and residential property.
In summary -- where does the money come from? Tithing. Where does the money go? At least some of the money goes into the church's own for-profit businesses. Straight from the church's own mouth. Another LDS⁄Mormon apologetic line bites the dust.
Source for the above yes, this is the legit Mormon Newsroom⁄article⁄church-finances-and-a-growing-global-church
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