Friday, May 24, 2024
HomeChurchFirst Presidency Releases Statement on Church Finances

First Presidency Releases Statement on Church Finances

- Advertisment - Save on Great LDS Gifts

In response to recent allegations regarding the Church’s finances, the First Presidency of The Church of Jesus Christ of Latter-day Saints has released the following statement:

We take seriously the responsibility to care for the tithes and donations received from members. The vast majority of these funds are used immediately to meet the needs of the growing Church including more meetinghouses, temples, education, humanitarian work and missionary efforts throughout the world. Over many years, a portion is methodically safeguarded through wise financial management and the building of a prudent reserve for the future. This is a sound doctrinal and financial principle taught by the Savior in the Parable of the Talents and lived by the Church and its members. All Church funds exist for no other reason than to support the Church’s divinely appointed mission. Claims being currently circulated are based on a narrow perspective and limited information. The Church complies with all applicable law governing our donations, investments, taxes, and reserves. We continue to welcome the opportunity to work with officials to address questions they may have.

The press release also provided the following resources for those who want to know more about the Church’s finances.

On Monday, a former member of the Church who worked at the Church’s investment division announced through media outlets that he had given a confidential report to the Internal Revenue Service claiming the Church has been stockpiling mass amounts of money instead of donating them to charity and also using tax-exempt donations for business purposes.

Join the Discussion!
- Advertisment - LDS Scripture Study
Aleah Ingram
Aleah Ingram
Aleah is a graduate of Southern Virginia University, where she studied English, Creative Writing, and Dance. She now works full time as a marketing and product manager, writer, and editor. Aleah served a mission in California and loves baking, Lang Leav poetry, Gaynor Minden pointe shoes, and Bollywood movies.

UPDATE: Missionary Couple Passes Away in California Auto Accident

Update: The following statement was released on Tuesday, May 21, 2024. It is with much sadness that we inform you of the passing...

Need Courage to Stand for the Truth? Try This! | 23 May 2024

Here’s your daily dose of what matters most! Struggling to find the courage to stand up for your beliefs? Try these principles...

20 Things NOT to Say to Someone Questioning the Church

Navigating conversations about faith and belief can be sensitive, especially when someone is questioning their religious affiliation. Here are 20 things you...

Marriage is Honorable | 22 May 2024

Here’s your daily dose of what matters most! Marriage is a crucial part of God’s plan. Every couple who nurtures their marriage...
Related
- Advertisment -Color Scriptures from LDS Bookstore
Recent