How does the LDS Church spend its money?

Use of funds. The LDS Church uses most of its financial resources to construct and maintain buildings and other facilities. The church also spends its funds on providing social welfare and relief and supporting missionary, educational, and other church-sponsored programs. No funds are provided for services rendered.

How much money does the LDS Church make in a year?

Relying heavily on church records in countries that require far more disclosure than the United States, Cragun and Reuters estimate that the Church of Jesus Christ of Latter-day Saints brings in some $7 billion annually in tithes and other donations.

How much does the LDS Church spend on charity?

In 2019, Latter-day Saint Charities used these donations to help people in need around the world. These funds represent only a small part of the Church’s combined annual humanitarian and welfare aid expenditures (approaching $1 billion a year).

Do Mormon missionaries get paid?

All Mormon missionaries serve voluntarily and do not receive a salary for their work; they typically finance missions themselves or with assistance from family or other church members. Many Latter-day Saints save money during their teenage years to cover their mission expenses.

How much money did the LDS Church donate in 2020?

The Church of Jesus Christ of Latter-day Saints made $6 billion in 2020 through an investment fund, according to a FOX 13 report. The numbers were reported in a new filing with the U.S. Securities and Exchange Commission. [Read a deeper look at the tithing devout Latter-day Saints pay to their faith.]

Did the LDS Church invest in GameStop?

The Mormon Church’s secretive $100 billion fund cashed out its GameStop profits – and trimmed its Tesla bet by 13\% A LDS church. The Mormon Church exited its GameStop position and cut its Tesla holdings last quarter. Ensign Peak Advisors disposed of its 46,000 GameStop shares, pocketing as much as $14 million.

How much land in Florida does the LDS Church own?

The Mormon church through its subsidiaries now owns nearly 2 percent of Florida with the completion Thursday of a $562 million purchase of more than 382,000 acres in North Florida’s Panhandle region.