Money for Humanitarian Work
The Church Office Building (background) and the Church Administration Building (foreground), part of the LDS temple complex in Salt Lake City, Utah.
A Time Magazine report suggested that in 1996 the Mormon Church collected $5.2 billion in tithing money. Church membership has increased 20% since then. At that time, Time Magazine estimated Church assets, which include real estate and some for-profit businesses, to be worth about $30 billion. This money is meticulously managed in order to maximize its benefits, benefits which include an extensive humanitarian program. According to Time, if the Mormon Church were a corporation, it would be listed on the Fortune 500 above Nike and the Gap. How does the Church have so much money?
Polynesian Cultural Center
- Faithful members of the Church pay 10% of their income, called tithing money, in addition to “fast offerings,” which are used to support the poor. This tithing money accounts for about 90% of the Church’s “income,” at least in 1996.
- Most of the LDS clergy (including its missionaries) receive no money for their dedicated service, eliminating many personnel costs. (The General Authorities, who work for the Church full-time, receive a modest amount of money because their duties prevent them from taking on secular employment.)