IPFS News Link • Religion: Believers
The Mormon Church kept their $100BILLION investment fund a secret over fears ...
• https://www.dailymail.co, By LAUREN EDMONDSOfficials of the Church of Jesus Christ of Latter-day Saints kept the amount of their $100billion investment reserves a secret in case public knowledge of their massive wealth might discourage members from tithing.
The Wall Street Journal reports that word of the Mormon Church's stockpile came after a whistleblower complained to the Internal Revenue Service that the fund, named Ensign Peak Advisors, had collected billions.
'Paying tithing is more of a sense of commitment than it is the church needing the money,' Roger Clarke, the head of Ensign Peak said.
'So they never wanted to be in a position where people felt like, you know, they shouldn't make a contribution.'
Officials admit that the fund's total size is a kept tightly under wrap since Ensign Peak depends on tithing from it's 16million followers worldwide.