Recovery Board
: RfM
Recovery from Mormonism (RfM) discussion forum.
Latest information on LD$, Inc.'s financial holdings
https://www.sltrib.com/religion/2025/08/16/lds-church-stock-portfolio-hits/
"A spring updraft in U.S. stock markets has helped add a near-record $6 billion in one quarter to the immense portfolio of U.S. stocks, bonds and mutual funds managed for The Church of Jesus Christ of Latter-day Saints, reversing recent losses.
New disclosures from the faith’s investment arm, Salt Lake City-based Ensign Peak Advisors, to federal regulators — for April, May and June — reveal its account has all but doubled in value since the onset of the COVID-19 pandemic in early 2020. It now holds $58.4 billion and includes nearly $4 billion in an artificial intelligence giant.
The account holds about 95.6% more in dollar terms than it did when the COVID-19 pandemic first reached U.S. shores. It plunged by a quarterly record of $8 billion in early 2020, falling to $29.8 billion.
In-depth analysis indicates Ensign Peak and a host of third-party funds manage total investments on behalf of the worldwide church of 17.5 million members worth about $206 billion as of the end of last year.
That‘s according to The Widow’s Mite Report, a website devoted to detailing the faith’s finances through public documents. It has estimated the church’s overall wealth at about $293 billion at the close of 2024, up $28 billion from the previous year.
Since its first public report to the SEC, Ensign Peak’s portfolio has been dominated by big technology stocks. Sometimes these are now referred to as “the Magnificent Seven” — Apple, Amazon, Meta (formerly Facebook), Alphabet (Google), Microsoft, Nvidia and Tesla."
https://www.sltrib.com/religion/2025/08/16/lds-church-stock-portfolio-hits/
"A spring updraft in U.S. stock markets has helped add a near-record $6 billion in one quarter to the immense portfolio of U.S. stocks, bonds and mutual funds managed for The Church of Jesus Christ of Latter-day Saints, reversing recent losses.
New disclosures from the faith’s investment arm, Salt Lake City-based Ensign Peak Advisors, to federal regulators — for April, May and June — reveal its account has all but doubled in value since the onset of the COVID-19 pandemic in early 2020. It now holds $58.4 billion and includes nearly $4 billion in an artificial intelligence giant.
The account holds about 95.6% more in dollar terms than it did when the COVID-19 pandemic first reached U.S. shores. It plunged by a quarterly record of $8 billion in early 2020, falling to $29.8 billion.
In-depth analysis indicates Ensign Peak and a host of third-party funds manage total investments on behalf of the worldwide church of 17.5 million members worth about $206 billion as of the end of last year.
That‘s according to The Widow’s Mite Report, a website devoted to detailing the faith’s finances through public documents. It has estimated the church’s overall wealth at about $293 billion at the close of 2024, up $28 billion from the previous year.
Since its first public report to the SEC, Ensign Peak’s portfolio has been dominated by big technology stocks. Sometimes these are now referred to as “the Magnificent Seven” — Apple, Amazon, Meta (formerly Facebook), Alphabet (Google), Microsoft, Nvidia and Tesla."
At some point (I don't know when) the Federal tariffs imposed by the current U.S. president are going to affect stocks negatively for all stockholders, including your former church.
Well, yes and no. Tariffs cause inflation, and stocks are one of the best investments during inflationary times.
Consider debt investments. If you lend someone $100 for a year and in the interim there is an unexpected 10% increase in prices, you get paid back in dollars worth only 90% of what you expected. You lose $10 in purchasing power. The same thing happens with all investments with a fixed rate of return: bonds, annuities, most pension plans, etc.
If you had put that $100 into corporate stocks, by contrast. the prices of those instruments would rise with the rate of inflation. In a year the price of your investment might reach $110 dollars, which would keep the purchasing power of your stock constant. You would have lost nothing.
Reality is always messier than that. Perhaps the market price of your stock rises to $112, meaning you gain two percent in real purchasing power. Or maybe your it only goes up to $107, in which case you lose three dollars in purchasing power.
Usually owners of stock suffer somewhat from inflation but much less than holders of fixed-income investments. In short, publicly traded equities contain a natural hedge against rising prices.
Consider debt investments. If you lend someone $100 for a year and in the interim there is an unexpected 10% increase in prices, you get paid back in dollars worth only 90% of what you expected. You lose $10 in purchasing power. The same thing happens with all investments with a fixed rate of return: bonds, annuities, most pension plans, etc.
If you had put that $100 into corporate stocks, by contrast. the prices of those instruments would rise with the rate of inflation. In a year the price of your investment might reach $110 dollars, which would keep the purchasing power of your stock constant. You would have lost nothing.
Reality is always messier than that. Perhaps the market price of your stock rises to $112, meaning you gain two percent in real purchasing power. Or maybe your it only goes up to $107, in which case you lose three dollars in purchasing power.
Usually owners of stock suffer somewhat from inflation but much less than holders of fixed-income investments. In short, publicly traded equities contain a natural hedge against rising prices.
Aren't bonds also falling because other countries are dumping them due to the increased risk of arbitrary sanctions and tariffs? The folks selling bonds would buy stocks, pushing up the market.
So a rising stock market could be hiding a lot of destruction of real wealth caused by the tariffs.
So a rising stock market could be hiding a lot of destruction of real wealth caused by the tariffs.
It's important to remember the distinction between a closed economy/market and an open one.
In a closed economy--say, the US with no trade or international capital flows--then yes, you would expect a bond sell-off to mean most of the money is moving into the stock market. It can, and in inflationary times does, go into real estate, gold, and other investments, but there would usually be an increase in stock prices.
In an open economy, like the world today, it's not that simple. If foreign investors lose faith in the US and expect inflation there to accelerate, there are several places they can take their money. Among those are Japanese or European bonds, stock markets all over the world, currencies, and the like. In that case there need not be a one-to-one correlation between sales of US bonds and appreciation in US equities.
Right now tariff risk and inflation risk are largely the same. That's what the latest data on consumer and producer prices are telling us. That is happening both within the US and globally. It is likely that households are going to lose wealth, meaning accumulated purchasing power, almost everywhere.
In a closed economy--say, the US with no trade or international capital flows--then yes, you would expect a bond sell-off to mean most of the money is moving into the stock market. It can, and in inflationary times does, go into real estate, gold, and other investments, but there would usually be an increase in stock prices.
In an open economy, like the world today, it's not that simple. If foreign investors lose faith in the US and expect inflation there to accelerate, there are several places they can take their money. Among those are Japanese or European bonds, stock markets all over the world, currencies, and the like. In that case there need not be a one-to-one correlation between sales of US bonds and appreciation in US equities.
Right now tariff risk and inflation risk are largely the same. That's what the latest data on consumer and producer prices are telling us. That is happening both within the US and globally. It is likely that households are going to lose wealth, meaning accumulated purchasing power, almost everywhere.
To be a Gen Z advocate, let me guess how this goes.
1. Boomers climb the ladder of the American Dream.
2. Boomers pull up the ladder.
3. Government uses a financial reset to confiscate the ladder.
1. Boomers climb the ladder of the American Dream.
2. Boomers pull up the ladder.
3. Government uses a financial reset to confiscate the ladder.
Pretty much.
It is difficult to see how the national debt can remain stable with the deficit expanding and interest rates rising.
It is difficult to see how the national debt can remain stable with the deficit expanding and interest rates rising.
Correct. Bonds are usually a safe haven to park your money when the market/economy gets chaotic or erratic. Not now. Foreign investors are pulling out with fears that China will start collecting on some of the 780 Billion in US debt that they hold, further driving down the value of T-Bills. There's a lot of scary stuff going on. I moved a bunch of stocks to buy American companies like Fidelity, Vanguard and Goldman Sachs, European and foreign market stock funds. Worth a look. Things are really going to get rough once we feel the effects of the new tariffs August 1.
> Bonds are usually a safe haven to park
> your money when the market/economy gets chaotic or
> erratic.
It depends on the sort of "chaos" is occurring.
Bonds do well when GDP growth slows and inflation falls. So if the market is stumbling into recession or disinflation, they fixed income is the place to be.
If the threats are conversely on the inflationary side, bonds are a terrible place to be. That's when stocks, real estate, and bonds are the better bet.
The other thing that has changed is the status of the dollar. In the past investors would react to global problems by moving from foreign stocks and bonds to US stocks and bonds, which were perceived as more stable. That relationship broke down in April, a result of the tariff insanity and the wild swings in US policy.
These are costs already incurred but still 6-9 months beyond popular recognition.
Edited 1 time(s). Last edit at 08/17/2025 05:48PM by Lot's Wife.
> your money when the market/economy gets chaotic or
> erratic.
It depends on the sort of "chaos" is occurring.
Bonds do well when GDP growth slows and inflation falls. So if the market is stumbling into recession or disinflation, they fixed income is the place to be.
If the threats are conversely on the inflationary side, bonds are a terrible place to be. That's when stocks, real estate, and bonds are the better bet.
The other thing that has changed is the status of the dollar. In the past investors would react to global problems by moving from foreign stocks and bonds to US stocks and bonds, which were perceived as more stable. That relationship broke down in April, a result of the tariff insanity and the wild swings in US policy.
These are costs already incurred but still 6-9 months beyond popular recognition.
Edited 1 time(s). Last edit at 08/17/2025 05:48PM by Lot's Wife.
Yes. Our GDP last month is the lowest growth since 2022. Our dollar dropped when our credit rating was downgraded in May. We're heading into "The Perfect Storm" and most is self- inflicted.
Also the latest data on core CPI, which showed surprising inflation; and the new PPI figures, which suggest substantially greater inflation is already in the pipes.
So slower growth and higher inflation. What was that term that gained currency during the 1970s?
;-)
So slower growth and higher inflation. What was that term that gained currency during the 1970s?
;-)
I heard that ‘Made in the USA’ is suffering mightily. Is that true?
I haven't heard that, other than US alcohol beverage sales to Canada, and some ag commodities.
Canada and Brazil are being threatened with ruinously high tariffs to punish them for not following Dear Leader's commands. Those 2 countries are major cash cows in the international Mormon Church. Canada has a lot of BIC multi-generational Mormons, which tend to be high tithe payers, and Brazil has the most Mormons of any country other than the US.
That being the case, I wonder how donations from Mormons in those countries are holding up. I'd be a little cranky about sending my money to the US, to a preposterously rich church.
Canada and Brazil are being threatened with ruinously high tariffs to punish them for not following Dear Leader's commands. Those 2 countries are major cash cows in the international Mormon Church. Canada has a lot of BIC multi-generational Mormons, which tend to be high tithe payers, and Brazil has the most Mormons of any country other than the US.
That being the case, I wonder how donations from Mormons in those countries are holding up. I'd be a little cranky about sending my money to the US, to a preposterously rich church.
Short version in round numbers:
LDS Inc has $200 billion in investments, some reportable to the SEC, some not.
They have $100 billion in operating assets - meetinghouses, temples, universities, welfare farms.
Total worth, $300 billion.
That's easy to remember, and close enough for government work, as they say.
LDS Inc has $200 billion in investments, some reportable to the SEC, some not.
They have $100 billion in operating assets - meetinghouses, temples, universities, welfare farms.
Total worth, $300 billion.
That's easy to remember, and close enough for government work, as they say.
They probably own gold, and way more than what was in the Golden Plates supposedly spirited away by Moroni.
Edited 1 time(s). Last edit at 08/16/2025 02:52PM by bradley.
Edited 1 time(s). Last edit at 08/16/2025 02:52PM by bradley.
Claims that they evaded taxes on their business income
https://www.sltrib.com/religion/2025/08/17/did-lds-church-dodge-millions/
"An independent website devoted to detailing the global faith’s wealth through public documents says there is “strong evidence” its investment arm, Ensign Peak Advisors, failed to report up to $450 million in taxable business income, dodging a potential tax bill as high as $90 million.
That underreporting, according to The Widow’s Mite Report, happened between about 2003 and 2017, when, for some of those years, Ensign Peak held stocks through a series of shell companies — a practice that the Salt Lake City-based firm and church leaders later acknowledged in a $5 million legal settlement with U.S. regulators in 2023.
The watchdog website’s yearlong study also reveals a complex strategy of investing by Ensign Peak that the group says deferred tax obligations by putting millions into what are called publicly traded partnerships, or PTPs, over those years.
Widow’s Mite — which includes unnamed current and former Latter-day Saints with professional backgrounds in finance, business, real estate and law — alleges the church’s investment firm then underreported income from those PTPs when it sold its stakes in them, according to an analysis of Ensign Peak’s nonprofit tax filings (known as 990-T forms) alongside disclosures of stock holdings, filed with the U.S. Securities and Exchange Commission.
“Tax evasion appears evident,” the website asserts, unless Ensign Peak somehow made separate, significant and undisclosed tax payments to the IRS outside of public view.
The site also notes that Ensign Peak substantially increased the income it reported from these PTP investments starting in 2018 and 2019, when key details on the overall size and nature of its portfolio began to leak out."
"The Widow’s Mite authors have operated anonymously in the past, but for this latest tax study, the group enlisted Spencer Anderson, assistant professor of financial accounting at Indiana University’s Kelley School of Business, to audit its methods and findings, and act as a spokesperson.
Anderson, who is also a Latter-day Saint, called the methods for financial analysis and modeling used by Widow’s Mite to arrive at its latest findings “the gold standard.”
“People might ask, ‘How could a church engage in tax evasion in the first place?’” Anderson said, given that faiths are generally tax exempt. “The fact is, there are taxes that the church does have to pay, particularly with some of its operating nonpassive income.
“And in this case,” Anderson said, “it looks very consistent with tax evasion, based on my own review of the data.”
https://www.sltrib.com/religion/2025/08/17/did-lds-church-dodge-millions/
"An independent website devoted to detailing the global faith’s wealth through public documents says there is “strong evidence” its investment arm, Ensign Peak Advisors, failed to report up to $450 million in taxable business income, dodging a potential tax bill as high as $90 million.
That underreporting, according to The Widow’s Mite Report, happened between about 2003 and 2017, when, for some of those years, Ensign Peak held stocks through a series of shell companies — a practice that the Salt Lake City-based firm and church leaders later acknowledged in a $5 million legal settlement with U.S. regulators in 2023.
The watchdog website’s yearlong study also reveals a complex strategy of investing by Ensign Peak that the group says deferred tax obligations by putting millions into what are called publicly traded partnerships, or PTPs, over those years.
Widow’s Mite — which includes unnamed current and former Latter-day Saints with professional backgrounds in finance, business, real estate and law — alleges the church’s investment firm then underreported income from those PTPs when it sold its stakes in them, according to an analysis of Ensign Peak’s nonprofit tax filings (known as 990-T forms) alongside disclosures of stock holdings, filed with the U.S. Securities and Exchange Commission.
“Tax evasion appears evident,” the website asserts, unless Ensign Peak somehow made separate, significant and undisclosed tax payments to the IRS outside of public view.
The site also notes that Ensign Peak substantially increased the income it reported from these PTP investments starting in 2018 and 2019, when key details on the overall size and nature of its portfolio began to leak out."
"The Widow’s Mite authors have operated anonymously in the past, but for this latest tax study, the group enlisted Spencer Anderson, assistant professor of financial accounting at Indiana University’s Kelley School of Business, to audit its methods and findings, and act as a spokesperson.
Anderson, who is also a Latter-day Saint, called the methods for financial analysis and modeling used by Widow’s Mite to arrive at its latest findings “the gold standard.”
“People might ask, ‘How could a church engage in tax evasion in the first place?’” Anderson said, given that faiths are generally tax exempt. “The fact is, there are taxes that the church does have to pay, particularly with some of its operating nonpassive income.
“And in this case,” Anderson said, “it looks very consistent with tax evasion, based on my own review of the data.”
The allegation gets pretty weedy - Publicly Traded Partnerships. I've heard of them, but that's about it. And The Widow's Mite investigation does say that maybe they paid the tax due, or had a compensating loss, that is not visible in the publicly available forms that Ensign Peaks has filed.
However, so far, The Widow's Mite has a pretty goo d track record of accuracy in their analysis of LDS Inc. Stay tuned.
However, so far, The Widow's Mite has a pretty goo d track record of accuracy in their analysis of LDS Inc. Stay tuned.
Shouldn't a church *want* financial transparency? Until the church releases all financial data, I'm going to assume that they are a bunch of tax cheats.
What time should I show up to clean the church?
squirrely Wrote:
-------------------------------------------------------
> What time should I show up to clean the church?
5am
Go to the bishop's house for the key and honk your horn :)
-------------------------------------------------------
> What time should I show up to clean the church?
5am
Go to the bishop's house for the key and honk your horn :)
.....once we see the CEO of Ensign Peak hanging from under a bridge, we will know they have reached the level of trust of The Vatican Bank. After all, wasn't Calvi called "God's Banker?".....
"The golden bars lay hidden Deep in the Swiss account, Until God found one faithful, In whom he could reach out."
"The golden bars lay hidden Deep in the Swiss account, Until God found one faithful, In whom he could reach out."