Who would inherit the vast assets of this corporation if the TSCC collapsed? As a sole corporation would the prophet profit, or would all good moremoneys run around waving tithing slips claiming to be shareholders in this enterprise?

The church part of the church may one day collapse, but the for profit arm of the church is in no danger of collapse. So the same guys who've always been running it will go on to run it I suppose. The members would have no claim to the assets.



Edited 1 time(s). Last edit at 02/15/2014 07:38PM by Devoted Exmo.

Except if a court believes there were institutionalized fraud taking place. Under Rico statutes, the federal government could seize all of the church's assetts. In a civil suit, the church's assetts could be broken up and sold to pay those who sued them.

That may also be for a court to decide. They other question is whether that court will be a bankruptcy court or a criminal court or a civil court when all the sex abuse trials are decided.

The religion part is only one part of the Mormon corporation. They have Cattle farms, malls, tv stations, radio stations, land development companies, insurance companies and a multitude of other buisness.

The religion is but one trademark of the church the generates billions of donations.

Yes the church part may collapse one day (we can always live in hope), and as Devoted Exmo says the for profit arm is in no danger of collapse,so it will still be making millions of tax free dollars annually. Someone must be profiting now and will continue to do so. If the TSCC ever does collapse, should make for an interesting court case. If there is no COJCOLDS how can there still be a Corporation of the President of same?

Don't think it will come to a bankruptcy court Deco, criminal or civil maybe.

Lehman Brothers financed the industrial revolution. Poor business decisions killed it.

Please someone call LDS Inc "unsinkable"

I would so love to see Mitt beg the fed government for a LDS Inc bailout because of all the good things they allegedly do, and the firestorm that would cause...



Edited 1 time(s). Last edit at 02/15/2014 11:45PM by deco.

Seeing the handwriting on the wall (or on the plates, or on the papyri) the President of the Corporation of the CoJCoLDS would distribute cash and assets to the church's various businesses. And to numbered off-shore accounts.

While I think that Mormonism will someday join the dustbin of crazy religions people once believed in, I don't think that day is imminent. Don't get me wrong. It is clearly coming, and the church is clearly shrinking, all while it still claims to be the world's fastest growing religion.

I think it will still be around in another fifty years, but I think it is going to be an extremely wounded beast. I am going to start a seperate thread on what I think is going to happen to the church, over the next few decades.

I have no doubt that this possibility has been anticipated by LDS leadership. I'd be very surprised if the corporate side of LDS, Inc wasn't safely and securely protected from the religious side. The membership has been promised nothing except blessings in the afterlife so LDS, Inc. has no worries on that account.

Had I known that Mormonism was actually a large corporation that could take my charitable donations and slide them over to the business side I'd have never given a dime. I always thought my money was going to BYU, temples, the welfare program, and my ward. How naive I was! The thought that my, and many other's, hard earned money went/goes into the corporation is a travesty.

I'd love to see the government take down LDS, Inc. by demanding full disclosure and exposing it for what it really is.

I think you are right Cali Sally, the church is divided into two corporations, The Corporation of the President and the Corporation of the Presiding Bishop, the former being the tithing revenue and the latter being the taxable revenue..If the church collapsed the way I understand a corporate sole is that the Presiding Bishop and the Church President would own the whole thing,both assets and liabilities.

But I think even if the church collapsed it would still function as a business entity for a very long time afterwards.

Religion is like nuclear waste. When created it is impossible to destroy and highly toxic, and it has many half-lives that takes years and years to break down until it no longer poses any threat. It usually takes generations for a belief system to collapse until it gets small enough that it becomes irrelevant. It never "collapses", because there are always going to be just enough people that are absolutely hell-bent (pun intended) on backing it no matter what. Nothing and nobody will convince them they're wrong, but those people eventually die off. They might collapse in might, power and numbers but they'll always have the "faithful followers". Look at the Moonies.

As long as tscc can hold on to a few thousand tithe payers, with all it's businesses and assets, it will continue for a very long time. There will always be a core of believers. I have tried to talk to my TBM brother. It's like talking to a wall. He believes it because he wants to believe it, and it doesnt matter what they do. Tscc is god's church on earth and what ever it has to do to further god's work is just fine by him. I told him that my thoughts about christianity have changed and that i view christianity as just another pagan religion whose ideas have been arount for thousands of years before christ came along. His answer: Pagan religions were developed so that when the real thing (christ) came along, people would be prepared to believe in him. Facepalm!

There will always be a small group of supporters who will always pay tithing, and believe what ever they are told. I believe there will always be a core of believers. They will shrink, I don't know how small it will go, but it will always be around.