Posted by:
ificouldhietokolob
(
)
Date: November 16, 2015 11:04AM
They also are paid to be on the boards of directors of companies.
In 1996, the church made a "big deal" announcing that GAs would be asked to no longer be on the boards of directors of companies, as their focus should be on the work of the church.
Except...not really. From the church's announcement:
“It is anticipated that there will be one exception. With reference to Church-owned corporations, most of these are now subsidiaries of Deseret Management Corporation, which is owned by the Corporation of the President of The Church of Jesus Christ of Latter-day Saints.”
Deseret Management Corporation will continue as a holding company with its board composed of representatives from the ranks of the General Authorities, the First Presidency said.
So the boards of church-owned for-profit companies are made up *entirely* of GAs, and they are paid (quite well) for being on those boards. Since ONLY GAs are on those boards, this is how the church pays them without saying the church pays them.
https://www.lds.org/ensign/1996/04/news-of-the-church/general-authorities-to-leave-business-boards?lang=eng