Another LDS Church fund worth billions is drawing scrutiny

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DMBA, which oversees pension and health benefits for the faith’s employees and top leaders, is worth nearly $9 billion. Has it skirted public reporting rules on its investments?
The nonprofit pension fund, created in 1970, has until recently drawn relatively little public attention. However, there are hints of similar patterns in how it has - or perhaps hasn’t - reported its investments.
Read story: sltrib.com/religion/2023/09/0...
#utah #lds #ldschurch #latterdaysaints #mormonism #mormons #exmo #exmormon #latterdaysaint

Опубликовано:

7 сен 2023

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Комментарии : 13

@user-wf3bn3pp9j 10 месяцев назад

Math time! The State of Utah Retirement Systems (URS) has $45 billion in assets and ~100,000 participating members (state, county, city, primary and secondary education, legislative, and judicial employees). That is $450,000 of assets under management per member. DMBA has “nearly $9 billion” in assets and about ~75,000 participating members (headquarters and global employees, Church universities, institute and seminary teachers, etc.). That is $90,000 of assets under management per member. So the State has FIVE TIMES the assets per employee under management than the Church. These funds need to be large because they only pay benefits from the earnings-not from the corpus-of the funds. Looks to me like DMBA doesn’t have enough assets under management.

@DRT279 10 месяцев назад

I wish you actually knew the real numbers. You’re just pulling fake number out of the air. The LDS is not required to disclose those numbers, so whatever you read will not be accurate. I guess they gave you just enough to make you upset. Don’t far for it.

@mae-qt8hw 10 месяцев назад

The state has to disclose the church doesnt so what we is probably only half of what the church owns

@lukebahr 8 месяцев назад

It is what is called "best practices" which are a set of guidelines, ethics, or ideas that represent the most efficient or prudent course of action in any given business situation. Any idiot with any business acumen will know this. Although the church is a non-profit organization the best nonprofits are run using best practices. Any business that is run well will have what is called "cash on hand." If you are a small to medium sized business "cash on hand might be in the hundreds, thousands, or tens of thousands of dollars. But, if you are a large business you need to have cash on hand in the millions or billions of dollars. It isn't greed it is common sense.

@DRT279 10 месяцев назад

Who cares.

@haroldwhite5761 10 месяцев назад

I do

@DRT279 10 месяцев назад

@@haroldwhite5761 So the LDS Church got fined $5 million which is comparable to you getting a parking ticket for less than a penny. I hope it doesn’t keep you up at night.

@haroldwhite5761 10 месяцев назад

@@DRT279 um no that's why I care about another fund drawing scrutiny, because the church needs all the scrutiny it can get so that Utah has a chance of getting healthier. What has kept me up at night is all the harm the church has done to me, my ancestors and many Utahns.

@Veevslav1 4 месяца назад

I do. I want to see the Church of Jesus Christ follow the teaching of the Book of Mormon and Bible. Things which they have not even endeavored to do since the martyrdom of the prophet Joseph Smith. Brigham Young has more in common with King Noah than with Alma. The Book that is written for our day warns us " 2 Nephi 28:21 This is preceded by this warning: 2 Nephi 28:12-14 Maybe you should go read the JST of the Bible. Genesis 14 has some great lessons about tithing and how it is meant to be. It was being followed that way under the Prophet Joseph but it changed under Brigham. Brigham robbed the saints. Interest free loans, free food etc... The church was taking out loans with high interest rates even as the brethren were giving themselves those sweet loans that were sometimes just forgiven.

@DRT279 4 месяца назад

@@Veevslav1 😂 People like you spend too much time criticizing the church with tired false claims. You can't back it up with any credibal sources. You just piggyback others people who whine about the LDS church. I bet you watch General Conference looking for trigger words to set your snowflake feelings off. What a lame life you live. 😂