In the heart of one of the world's most powerful and wealthy religious organizations, a question demands an answer: is the Church of Jesus Christ of Latter-day Saints (LDS), commonly known as the Mormon Church, a spiritual sanctuary or a colossal business enterprise?
Wealth from Tithing Fuels the Organization
With 17.2 million members worldwide, the Mormon Church commands an empire that many businesses could only dream of. The linchpin of this empire? Tithing. A principle so ingrained in the fabric of the religion that it leaves members with little to no choice: pay 10% of your income or face exclusion from the most sacred aspects of your faith. This is not a mere suggestion or a benevolent offering; it's a mandate. A mandate that translates into billions of dollars flowing into the Church’s coffers annually. Those who fall short of this financial obligation find themselves on the periphery of the faith they hold dear—unable to enter temples, witness their loved ones' marriages, or participate in the secretive rituals that promise them the highest degree of glory in the afterlife, the Celestial Kingdom.
Many outside the Mormon Church don’t know that there are no paid clergy. Volunteers fill the vast majority of service positions, as pastors of the congregation, missionaries, teachers, choir directors, etc., even though these require substantial time, and these individuals have full-time jobs, (except missionaries who are self-funded and dedicated full-time for two years.) Recently, congregational or 'ward' budgets have been cut so the Church has service days for volunteers to clean the churches to reduce janitorial costs. The Church has an endless supply of free labor, while imposing a tithing requirement on these very same laborers. It’s an exploitive business model to limit costs and maximize growth.
How wealthy is the Mormon Church?
The numbers tell a story that is hard to ignore. The LDS Church’s wealth has skyrocketed to an estimated $265 billion, with a staggering $31 billion in annual income. Yet, the distribution of this income paints a picture that many might find unsettling. Only 17% of this wealth is used for Church operations, and a mere 3%—despite doubling year-over-year—is allocated to help the poor and needy. The remaining 80%? Funneled into investments, further swelling the Church’s already vast financial empire. (Widow’s Mite Report based on published sources by the LDS Church and public filings.)
This focus on wealth accumulation raises serious questions about the true nature of the Mormon Church. The words of past Church leaders like Joseph Fielding Smith, who declared tithing a test of faith, now echo with a different resonance. His assertion that failing to tithe marks one as indifferent to the welfare of Zion and neglectful of their duty to God now seems less like spiritual guidance and more like a financial ultimatum.
The Church’s Tax-free Private Equity Fund and it’s Misuse
The Church’s investment arm, Ensign Peak, has amassed a fortune of over $100 billion—a sum that dwarfs even the endowments of the most generous philanthropic foundations, such as the Bill and Melinda Gates Foundation. The secrecy surrounding these funds was exposed in part by whistleblower David Neilsen, an advisor at Ensign Peak, who wrote to the IRS about the misuse of charitable funds to prop up or expand Mormon-owned business. 60 Minutes aired a revealing look at the finances of the Mormon Church and Neilsen’s claim of misuse. See the full episode here:
New class-action case over tithing could lead to millions suing the LDS Church
Multiple complaints have been rolled into one mega-case, accusing the faith and its investment arm of using charitable donations to create a multibillion-dollar “slush fund.”
Tony Semerad, of The Salt Lake Tribune, reported in July, 2024, that “Multiple “copycat” lawsuits accusing The Church of Jesus Christ of Latter-day Saints of fraud over tithing have now been rolled into one boundary-pushing case.
After being transferred this spring to a federal courtroom in Salt Lake City — the faith’s global headquarters — five federal suits from across the nation have been formally reshaped into a single beefed-up class-action complaint, clearing a new path for litigation before U.S. District Judge Robert Shelby.
The newly consolidated case, filed July 12, is being pressed by former or disaffected Latter-day Saints in Utah, Illinois, Washington, Tennessee and California.
A total of nine plaintiffs — so far — are alleging that senior church leaders and their money managers lied for decades about using member tithing donations solely for charitable causes while instead investing the cash in a multibillion-dollar “slush fund” at Ensign Peak Advisors, the faith’s investment arm.
The lawsuit accuses Ensign Peak and the church of fraud, unjust enrichment and breaching fiduciary duties. Backers seek the return of varying amounts in individual donations they gave — ranging from $3,700 to $183,256 — along with other remedies, including possible creation of a national class of plaintiffs with similar interests.”
The Mormon Church one of the Biggest Landowners in the Nation
Moreover, the LDS Church's real estate portfolio is unparalleled. With nearly 1.8 million acres across the United States valued at over $15 billion, the Church’s holdings make it one of the most significant private landowners in the country. This is not a religious organization merely providing places of worship; this is a behemoth wielding substantial economic power, enjoying the benefits of tax-exempt status while contributing a fraction of its wealth to the causes traditionally associated with religious philanthropy.
Some might argue that the Mormon Church’s vast resources are a testament to its success, a divine blessing for a faithful community. But the growing wealth disparity between the Church and its members, coupled with the increasing emphasis on investments over aid, suggests a different narrative. One where the pursuit of wealth has overshadowed the mission of faith.
Is the Mormon Church Primarily a Business or a Religious Organization?
Is the Mormon Church truly a spiritual refuge for its followers, or has it become a corporation cloaked in the guise of religion? As more information comes to light, the line between faith and finance grows ever more blurred, leaving many to question whether the Church’s primary goal is spiritual salvation—or financial exploitation and domination.
