The Misunderstood 32 Billion: The LDS Church's Financial Practices and Donations

There has been much confusion and misunderstanding surrounding the 32 billion dollars that the LDS Church allegedly hid. This article aims to clarify a number of points, including the nature of their financial practices, the forms of investment, and the manner in which they donate to charities.

Understanding the 32 Billion

The funds in question are not hidden nor are they secret. The LDS Church reported every single penny they received. However, these earnings were reported in 13 different pieces rather than an aggregate whole, adhering to both Federal and IRS guidelines but drawing criticism from the Securities and Exchange Commission (SEC).

These financial assets are primarily in the form of shares from a variety of companies, with Apple (AAPL) being the leading investment. This form of investment is transparent and understood by all those involved in the church's financial operations. The church's fiscal responsibility is reflected in its diversified portfolio, ensuring long-term stability and growth.

Prudent Investments and Their Uses

Every penny of the 32 billion dollars has been or will be used for appropriate purposes. Much of this money is allocated towards building and operating Church facilities. Additionally, a significant portion is directed towards charitable donations and other civic responsibilities. The church has been known to contribute generously to global charities, similar to other religious organizations such as Franklin Graham and Samaritan's Purse.

Regulatory Compliance and Fines

There were no secrets but there was a need for better paperwork. A fine of one million dollars was paid to the IRS for not completing the necessary paperwork properly. The government knew about these funds and any taxes owed were paid in full. The names of specific stock holdings were not declared to prevent members from buying the same investments, thus ensuring a more diverse portfolio and maintaining the integrity of the church's financial practices.

The fine paid was 5 million dollars, or 0.02% of the original amount, which went directly to the U.S. government. Despite familiar questions about where government revenue goes, it's evident that this money is used to fund government operations, infrastructure, and other public services. The federal government, in turn, channels this money into various initiatives to support the broader public.

Conclusion and Reflection

The LDS Church's financial practices reflect a commitment to transparent and ethical governance. Their investments are well-diversified, and their charitable contributions are significant and impactful. Whether one agrees with the church's priorities or not, it is crucial to understand and respect their efforts in maintaining a robust financial foundation and using their resources for appropriate purposes.

For critics and enthusiasts alike, a better understanding of the church's financial practices and their use of these funds can bring about a more informed and respectful dialogue.