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Posted by: GNPE ( )
Date: January 28, 2013 10:24AM

*are the 15 the ONLY ones who see the compliation 'totality' of church financials?

are the revenue, expense, and asset summaries segmented so that ONLY they know the big picture?

* are others, their TOP accountants 'double sworn' to secrecy?
Do they risk losing ALL if they divulge church finances to the public? There are plenty of accountants in Morland... tscc could skim the top & only consider those deep into the generations of MoLoyalty, couldn't they?

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Posted by: stbleaving ( )
Date: January 28, 2013 10:36AM

Personally, I don't think the 15 see the full financial picture. I think it's the First Presidency only, or maybe even nobody. I think the church's assets are so scattered and diversified (i.e., hidden) that no one person knows where everything is.

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Posted by: GNPE ( )
Date: January 28, 2013 11:40AM

Good GOLLY!

even just a print-out with the largest or most valuable properties at the top...

But I was mostly referring to revenue/expenses, thus profits (or loss).

In any publically traded org (which the Morg ISN'T), the directors (15) would be liable to know & act on the info.

I think I'll start a 'religion'...

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Posted by: stbleaving ( )
Date: January 28, 2013 12:01PM

Disclaimer: I have no insider knowledge, I'm just guessing based on the fact that very little information has ever been leaked about the church's assets.

Maybe the 15 get a one-page printout with a list of assets (although probably without a valuation of said assets), as you mention. But I'll bet that there's nothing like a P/L or revenue discussion. Different committees probably goes over expenses for CES, temples, etc. but again I doubt that it's centralized.

Possibly somebody with greater knowledge of nonprofit law will chime in here. As far as I know, nonprofits such as churches are completely exempt in the US from releasing financial information. I work for a nonprofit (a hospital) and they stopped releasing financial reports a few years ago when their tax-exempt status was being questioned by the state. Similarly, the LDS used to release at least some financial records, but stopped in the 1960s or 1970s.

Sadly for your plans to start a new religion, the antics of Scientology may have killed or curtailed that racket for everybody else. Bummer.

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Posted by: judyblue ( )
Date: January 28, 2013 01:49PM

My oh-so-trustworthy former Institute teacher who was a retired COB SOB used to say that Gordie personally had to approve every penny spent by the church. My guess would be that the FP sits in on budget meetings for each major department or extension of the org and has to sign off on them. I doubt there is one overall grand total spreadsheet anywhere. The Morg has money flowing in from many different sources. I bet many of the for-profit arms are self-sufficient - Deseret Book, for example - and pretty much run themselves independently of the main org.

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Posted by: GNPE ( )
Date: January 28, 2013 02:22PM

all of those 'self-sufficient' groups...:

at the end of the accounting period, they've either earned a Excess of Revenue over expenses -OR- they've done the No-No, a Loss.

'profits' go somewhere:

Losses are made up by $ from somewhere.

there's No Such Thing as (completely) self-sufficient.

Money flows, that's the whole point.

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