Tag Archives: City Creek Center

Ensign Peak Advisors Withdrawls, Religious Tax-Exemption, And Lack of Charitable Work

The Ensign Peak Advisors controversy centers on the Church of Jesus Christ of Latter-day Saints, or rather the Corporation of the President of the Church of Jesus Christ of Latter-day Saints, doing business as The Church of Jesus Christ of Latter-day Saints, using a tax-exempt investment fund to manage hundreds of billions of dollars derived …

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“I wish to give the entire Church the assurance that tithing funds have not and will not be used to acquire this property. Nor will they be used in developing it for commercial purposes. Funds for this have come and will come from those commercial entities owned by the Church. These resources, together with the earnings of invested reserve funds, will accommodate this program.” - President Gordon B. Hinckley | General Conference April 2003 | wasmormon.org
“I wish to give the entire Church the assurance that tithing funds have not and will not be used to acquire this property. Nor will they be used in developing it for commercial purposes. Funds for this have come and will come from those commercial entities owned by the Church. These resources, together with the earnings of invested reserve funds, will accommodate this program.” - President Gordon B. Hinckley | General Conference April 2003
During my employment at Ensign Peak Advisors, senior leadership and other employees referred to and revered all funds as “tithing” money, regardless of whether they were referring to principal or earnings on that principal. Tithing donations from the Church’s members were commingled with earnings. Every penny was referred to as the “widow’s mite.” - David Nielsen, former Senior Portfolio Manager, Ensign Peak Advisors, Whistleblower | wasmormon.org
During my employment at Ensign Peak Advisors, senior leadership and other employees referred to and revered all funds as “tithing” money, regardless of whether they were referring to principal or earnings on that principal. Tithing donations from the Church’s members were commingled with earnings. Every penny was referred to as the “widow’s mite.” - David Nielsen, former Senior Portfolio Manager, Ensign Peak Advisors, Whistleblower

Donated Tithing Funds vs Earnings on Invested Tithing

The church repeatedly states that no tithing money is used for its business purposes, like funding the City Creek Center or bailout money for church-owned insurance company, Beneficial Life. The church is surprisingly secretive about finances and has not publicly disclosed any financial statements in the United States since 1959, that’s 65 years and counting. The …

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“Let's Go Shopping!” “We’re so pleased to join in inviting the world to come to downtown Salt Lake City... Everything that we see around us is evidence of the long-standing commitment of The Church to Salt Lake City. Downtown, thanks to so many, is indeed rising.” - President Eyring spoke on behalf of the church during the ribbon-cutting ceremony officially opening City Creek Center. Church President Thomas S. Monson, second counselor President Dieter F. Uchtdorf  and the Presiding Bishopric were also in attendance. | wasmormon.org
“Let's Go Shopping!” “We’re so pleased to join in inviting the world to come to downtown Salt Lake City... Everything that we see around us is evidence of the long-standing commitment of The Church to Salt Lake City. Downtown, thanks to so many, is indeed rising.” - President Eyring spoke on behalf of the church during the ribbon-cutting ceremony officially opening City Creek Center. Church President Thomas S. Monson, second counselor President Dieter F. Uchtdorf  and the Presiding Bishopric were also in attendance.
“So there is no misunderstanding, I emphasize that none of that money comes from the tithing of faithful members. That is not how we use tithing funds.” - Presiding Bishop H. David Burton | October 8, 2003 Press Conference Announcing Church strategy to revitalize downtown Salt Lake City | wasmormon.org
“So there is no misunderstanding, I emphasize that none of that money comes from the tithing of faithful members. That is not how we use tithing funds.” - Presiding Bishop H. David Burton | October 8, 2003 Press Conference Announcing Church strategy to revitalize downtown Salt Lake City