Mormon Stories Podcast 151: Daymon Smith Pt. 3 - The LDS Church as a Corporation, and the Corporation as a Church
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May 13, 2010 In this fascinating discussion, Daymon Smith, an LDS anthropologist and author of 'The Book of Mammon', explores the LDS Church's corporate structure and its implications. He delves into the church's evolution from its founding to its modern financial complexities, discussing the balance between spiritual identity and institutional frameworks. The conversation covers the tension between non-profit and profit-driven entities within the church, including how commercial interests affect scripture marketing and garment production amid ethical dilemmas. Prepare for some thought-provoking insights!
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LDS Church's Corporate Evolution
- The LDS Church evolved from early attempts to legally incorporate as a church to complex corporate structures like the corporation sole.
- The corporation sole grants ownership to the church president, centralizing property control and ensuring succession.
Corporation of the President Explained
- The Corporation of the President (incorporated in 1923) is a single-person corporation where church leadership succession is legally cemented.
- This corporate model contrasts with early democratic church models where members had corporate membership rights.
LDS Church as a Trademark
- Legally, the Church of Jesus Christ of Latter-day Saints exists as a trademark owned by a corporation, not as a standalone legal entity.
- This insight invites reflection on what truly defines membership beyond legal and corporate structures.
