Church History Matters 051 Modern Church Financial Controversies
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Feb 20, 2024 Explore the church's controversial decision to invest over $1 billion in a downtown mall and allegations of tithing fund misuse. Delve into the staggering $100 billion reserve and the ethical questions surrounding financial transparency. Unpack the $5 million SEC fine against the church’s investment arm for undisclosed transactions. Discover how these financial practices impact members, especially the economically disadvantaged, while examining the blend of religious duty and financial strategy.
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Intertwined Temporal and Spiritual
- The Church of Jesus Christ of Latter-day Saints views temporal and spiritual matters as intertwined.
- This perspective informs their involvement in secular ventures like City Creek Mall.
City Creek Mall Development
- During the 2008 recession, the Church built City Creek Mall to revitalize downtown Salt Lake City.
- This investment aimed to improve safety and the area around Temple Square.
City Creek Mall Operations
- City Creek Mall houses businesses selling alcohol, tobacco, and coffee, yet remains closed on Sundays.
- The Church's ownership doesn't dictate individual tenant practices, aligning with historical precedent.