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They’re definitely businesses sometimes: the Mormon church holds billions in investment properties that they profit off. An example of countless articles: htt
by jjtheblunt 3y ago
They’re definitely businesses sometimes: the Mormon church holds billions in investment properties that they profit off.
An example of countless articles:
https://www.wsj.com/articles/mormon-church-temple-spending-spree-utah-e167977f https://www.wsj.com/articles/mormon-church-temple-spending-s...
- HideousKojima 3y ago>They’re definitely businesses sometimes: the Mormon church holds billions in investment properties that they profit off. And they pay taxes on any profits generated by their for profit subsidiaries: https://www.sltrib.com/religion/2022/04/17/lds-wealth-spurs-question/ https://www.sltrib.com/religion/2022/04/17/lds-wealth-spurs-... "Churches with unrelated business income pay taxes on that income, Brunson noted, as the LDS Church reportedly does on its for-profit businesses."
- AnthonyMouse 3y agoWhich seems weird, if I'm not misunderstanding this. So if you make profit and donate it to a charity, you can deduct it and they don't pay tax on it either. But if the charity makes a profit, effectively donating the money to itself, it does? What?
- jjtheblunt 3y agoAn LDS whistleblower disagrees: the LDS church created an elaborate complex of shell companies to disguise for profit investments for roughly two documented decades. The SEC penalized them a tiny fraction of what the whistleblower documented. https://www.nbcnews.com/business/business-news/mormon-church-multibillion-investment-fund-sec-settlement-rcna71603 https://www.nbcnews.com/business/business-news/mormon-church...