LDS church worth

[Levin]

Originally Posted by MikeWaters

bingo.

and it is more than lawsuits that could be calamity.

Having lots of cash on hand in the event of lawsuits is dumb, dumb, dumb. You want to be as poor as possible in the event of lawsuits.

As for a depression, with a capital "D", why would you use tithes as welfare? Much better to use the dollars now, as an investment in the people and future growth of the Church. If the Church is getting too much money, and can't spend it all on projects that should recieve tithing dollars, then they should be more creative in spreading the gospel -- buy more ad time.

And let's say the Church grows like crazy during a Depression, and so there is a need to ramp up capital expenditures for meetinghouses and temples, then we should go back to the system of local congregants going their own way.

The principle I'm fighting against is the Church hording the tithes of its members. Those tithes should be spent!

[MikeWaters]

Originally Posted by Levin

Having lots of cash on hand in the event of lawsuits is dumb, dumb, dumb. You want to be as poor as possible in the event of lawsuits.

As for a depression, with a capital "D", why would you use tithes as welfare? Much better to use the dollars now, as an investment in the people and future growth of the Church. If the Church is getting too much money, and can't spend it all on projects that should recieve tithing dollars, then they should be more creative in spreading the gospel -- buy more ad time.

And let's say the Church grows like crazy during a Depression, and so there is a need to ramp up capital expenditures for meetinghouses and temples, then we should go back to the system of local congregants going their own way.

The principle I'm fighting against is the Church hording the tithes of its members. Those tithes should be spent!

you obviously have never read Genesis.

[UtahDan]

Originally Posted by Levin

Having lots of cash on hand in the event of lawsuits is dumb, dumb, dumb. You want to be as poor as possible in the event of lawsuits.

As for a depression, with a capital "D", why would you use tithes as welfare? Much better to use the dollars now, as an investment in the people and future growth of the Church. If the Church is getting too much money, and can't spend it all on projects that should recieve tithing dollars, then they should be more creative in spreading the gospel -- buy more ad time.

And let's say the Church grows like crazy during a Depression, and so there is a need to ramp up capital expenditures for meetinghouses and temples, then we should go back to the system of local congregants going their own way.

The principle I'm fighting against is the Church hording the tithes of its members. Those tithes should be spent!

A friend recently said to me, if you want to hear God laugh, make a plan. Your post made me think of this.

[FMCoug]

Originally Posted by MikeWaters

If what FM said is true, then the church has spent more on the shopping mall project that it has in cash reserves. And maybe by a factor of 10.

You're missing my point. I guarantee that project was not done under the umbrella of COP or COPB. It would be an investment entity. I don't think for a minute that they put up 1.5B upfront or even will pay it off. How they manage their investments is very different than meetinghouses, temples, etc.

[Levin]

Originally Posted by MikeWaters

you obviously have never read Genesis.

Point me to the lesson I should have learned from that good book.

[Indy Coug]

Originally Posted by Cali Coug

SU noted in another thread that a statement that the LDS church may have $5 billion cash on hand is "one of the most uninformed statements ever made on this site."

I did a quick google search to see what estimates were for LDS finances. Time Magazine and Mormon America (a book published in the '90's) both estimated the church's net worth at over $30 billion. Time estimated the church had annual revenues of $5.9 billion. The church incurs almost zero long-term debt, paying for most projects up front in cash.

The financing of City Creek Center, a $1.5 billion project, was 100% equity between the church and Taubman Centers (with the equity mix undisclosed to my knowledge).

http://nreionline.com/property/mixed...h_taking_0411/

$5 billion in cash available? I hardly think that is unrealistic.

Where is that cash? Dispersed amongst its various entities such as Zions Bank (do they still own that) and Beneficial Life, which have regulatory capital requirements, or in some granite vault gathering dust?

[MikeWaters]

Originally Posted by Indy Coug

Where is that cash? Dispersed amongst its various entities such as Zions Bank (do they still own that) and Beneficial Life, which have regulatory capital requirements, or in some granite vault gathering dust?

Signed,
Butch Cassidy

[Indy Coug]

Originally Posted by MikeWaters

Signed,
Butch Cassidy

I don't even have a clue what that reference means.

[Cali Coug]

Originally Posted by Indy Coug

Where is that cash? Dispersed amongst its various entities such as Zions Bank (do they still own that) and Beneficial Life, which have regulatory capital requirements, or in some granite vault gathering dust?

I would assume it is disbersed among various entities. I do not believe they own Zions Bank anymore either.

[Indy Coug]

Originally Posted by Cali Coug

I would assume it is disbersed among various entities. I do not believe they own Zions Bank anymore either.

OK, but if it's dispersed amongst various entities for things like regulatory capital requirements, then it's not really "cash available", is it?