Finances of The Church of Jesus Christ of Latter-day Saints
The Church of Jesus Christ of Latter-day Saints (often referred to as the Mormon Church or LDS Church) maintains a substantial financial portfolio, drawing primarily from member tithes and other donations. This essay explores the sources, management, and use of these funds.
Tithing is the cornerstone of the LDS Church’s financial system. Members are expected to donate ten percent of their gross income. This practice is considered a commandment, and the revenue generated forms the bulk of the Church’s income. Beyond tithing, members may also contribute to fast offerings (used for welfare assistance), missionary funds, and other charitable causes.
These funds are managed by the Church’s Corporation of the President, overseen by the First Presidency (the Church’s highest governing body) and other senior leaders. A professional investment management firm, Ensign Peak Advisors, manages a significant portion of the Church’s investment portfolio. Ensign Peak is structured as a non-profit supporting organization of the Church.
Transparency regarding the Church’s finances has long been a point of public discussion. While the Church does not disclose a detailed breakdown of its financial holdings or expenditures, it maintains that funds are used to further its religious mission, which includes: building and maintaining temples and meetinghouses, funding missionary work, providing welfare and humanitarian aid, supporting education, and developing religious curricula.
A significant portion of tithing revenue is allocated to building and maintaining temples, which are considered sacred spaces for performing ordinances and strengthening faith. Meetinghouses provide local congregations with spaces for worship, activities, and social gatherings. The Church’s extensive missionary program, involving tens of thousands of young adults serving proselyting missions globally, is also largely funded through tithing.
The LDS Church has a long history of humanitarian aid, responding to natural disasters and supporting development projects around the world. Welfare programs provide assistance to members in need, encompassing food assistance, employment resources, and counseling services. Educational initiatives, such as Brigham Young University and other Church-owned schools, receive financial support, as does the creation and distribution of religious materials.
The Church’s significant financial resources have enabled it to expand its global reach, construct iconic temples and meetinghouses, provide extensive humanitarian aid, and support a robust educational system. However, the lack of detailed financial transparency continues to invite scrutiny and discussion among members and the public alike regarding the stewardship of these substantial resources and their allocation towards furthering the Church’s mission.
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