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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow the Mormons Make Money
Late last March the Mormon Church completed an ambitious project: a megamall. Built for roughly $2 billion, the City Creek Center stands directly across the street from the churchs iconic neo-Gothic temple in Salt Lake City. The mall includes a retractable glass roof, 5,000 underground parking spots, and nearly 100 stores and restaurants, ranging from Tiffanys (TIF) to Forever 21. Walkways link the open-air emporium with the churchs perfectly manicured headquarters on Temple Square. Macys (M) is a stones throw from the offices of the churchs president, Thomas S. Monson, whom Mormons believe to be a living prophet.
On the morning of its grand opening, thousands of shoppers thronged downtown Salt Lake, eager to elbow their way into the stores. The national anthem played, and Henry B. Eyring, one of Monsons top counselors, told the crowds, Everything that we see around us is evidence of the long-standing commitment of the Church of Jesus Christ of Latter-day Saints to Salt Lake City. When it came time to cut the malls flouncy pink ribbon, Monson, flanked by Utah dignitaries, cheered, One, two, threelets go shopping!
Watching a religious leader celebrate a mall may seem surreal, but City Creek reflects the spirit of enterprise that animates modern-day Mormonism. The mall is part of a sprawling church-owned corporate empire that the Mormon leadership says is helping spread its message, increasing economic self-reliance, and building the Kingdom of God on earth. The Church of Jesus Christ of Latter-day Saints attends to the total needs of its members, says Keith B. McMullin, who for 37 years served within the Mormon leadership and now heads a church-owned holding company, Deseret Management Corp. (DMC), an umbrella organization for many of the churchs for-profit businesses. We look to not only the spiritual but also the temporal, and we believe that a person who is impoverished temporally cannot blossom spiritually.
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The Mormon Church is hardly the only religious institution to be less than forthcoming about its wealth; the Catholic Church has been equally opaque throughout history. On the other hand, says historian D. Michael Quinn, who is working on a book about the LDS Churchs finances and businesses, The Mormon Church is very different than any other church.
Traditional Christianity and Judaism make a clear distinction between what is spiritual and what is temporal, while Mormon theology specifically denies that there is such a distinction. To Latter-day Saints, opening megamalls, operating a billion-dollar media and insurance conglomerate, and running a Polynesian theme park are all part of doing Gods work. Says Quinn: In the Mormon [leaderships] worldview, its as spiritual to give alms to the poor, as the old phrase goes in the Biblical sense, as it is to make a million dollars.
http://www.businessweek.com/articles/2012-07-10/how-the-mormons-make-money#r=read
Interesting article -- 6 pages.
rfranklin
(13,200 posts)It was one of the Beatitudes.
joeybee12
(56,177 posts)Will they deny their female employees access to contraception via insurance?
turtlerescue1
(1,013 posts)Not to mention the many genealogy centers in their places of worship where you can rent certain fisches and census roll, etc.
Ancestry.com used to cost about $60 for a year's access, not its what $12.95 a month.
Iggy
(1,418 posts)I knew the Mormons are all about money, but I had no idea how large their empire is.
Let's face it, if I had a continual revenue stream (the ten percent "tithe" that is mandatory to be a Mormon)
I could build a "religious"/financial empire, too.
something stinks about this, and some Mormons are also raising questions regarding how the "church" handles its
finances.
if we had a congress that was worth a crap, i'd say it's time for an investigation of the "church" and loss of their
501 tax exempt status. they clearly are a political organization
RadiationTherapy
(5,818 posts)They didn't build that!
Iggy
(1,418 posts)too closed/convenient.
looking at this article helps me understand WHY Rmoney is so freakin secretive about his income... the whole wMormon
culture is secretive/not transparent. this ultimately led to a problem for their original "leader". ol' Joe Smith.
something stinks here.
siligut
(12,272 posts)I have always hoped that the Mormon church would be investigated for failing to actually be a church, but more of a mind-controlling corporation, but alas, even exposure of this sort isn't enough. And who would investigate? Congress? The US Congress actually has a newsletter called Cult Watch, so I guess, at least we can believe they are watching, if not actually doing anything.
TwilightGardener
(46,416 posts)well-groomed, well-dressed people in one place--not before, and not since. Nice cars, nice clothes, every woman 's head with blond highlights...so, "One, Two, Three--Let's go shopping!" surprises me not at all.