Posted by:
carameldreams
(
)
Date: May 26, 2018 08:33PM
anono this week Wrote:
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> One trouble with this is that the church's main
> income is from their investments not tithing,
So true. From a few days ago:
Attentive members of The Church of Jesus Christ of Latter-day Saints will note the traditional statistical and financial reports of the church are no longer reported in General Conference.
While those reports have stopped, the church has not stopped applying its own financial advice as given to members including paying tithing, being self-reliant, and living providently.
Bishop Gerald Causse spoke at the 2018 Church History Symposium on March 1-2. His speech was entitled, “Financing Faith: The Intersection of Business and Religion.”
On Tuesday, he added more clarification and information to that speech.
“We are not a financial institution or a commercial corporation. We are the Church of Jesus Christ, and this Church has no other objective than that which the Lord Himself assigned to it; namely, to invite all to ‘come unto Christ, and be perfected in him,’” Causse said.
Causse noted that by following sound financial principles over an extended period of time, the church has grown from meager beginnings into a worldwide organization able to support its mission."
https://www.heraldextra.com/news/local/faith/lds-church-presiding-bishop-addresses-explains-intricacies-of-church-finances/article_8a896c9e-a5a7-55fd-858d-a938443c959d.html“The Church and its affiliated entities pay taxes and other governmental levies as required by the laws of each country in which the church functions,” Causse said. “In the United States, where churches and other nonprofit organizations are generally exempt from federal and state income tax, the Church pays taxes on any income it derives from revenue-producing activities that are regularly carried on and are not substantially related to its tax-exempt purposes.”
Causse explained that church-affiliated entities that are organized as for-profit corporations pay regular federal and state corporate income taxes on their net income.
The church and its affiliated entities also pay property taxes on property that is not used for religious, educational, or charitable purposes, including taxes on undeveloped land and properties held for investment or commercial purposes. Government fees, levies and assessments are paid in connection with the development of church property.
“The Church also pays federal and state employer taxes and withholds and remits employee payroll taxes. Where applicable, the church and its affiliated entities pay state and local sales and use taxes,” Causse said.
Some people occasionally describe the church as a powerful and prosperous institution. This may be true, but the strength of the church cannot be measured merely by the number or beauty of its buildings or by its financial and real estate holdings, Causse noted.
“The key to understanding the Church is to see it not as a worldwide corporation, but as millions of faithful members in thousands of congregations across the world following Christ and caring for each other and their neighbors,” Causse said.