As you can easily imagine (if you ever pay attention to such things), a group of critics sprang into action immediately upon hearing about the donation mentioned above — not to praise the gift or to express gratitude for it, but to complain that the gift was too small. They compare it to much larger amounts (real or imagined) that the Church has invested in stocks and/or real estate and they suggest that it proves that Church leaders actually care very little about suicides in the community or among members of the Church.
It seems obvious to me that such critics don’t understand — or are trying not to understand — some very basic principles of economics and finance. It is precisely careful investment and prudent stewardship that permits the Church to make such donations. If Church leaders simply blew through donated funds as soon as they came in, the Church would be far less able to direct money and other resources toward humanitarian needs when they arise.
I offer two links that, in my judgment, might help in thinking about this topic. The first comes from my former student Nate Oman:
“City Creek and the Choices of Thrift“
The second comes from my former teacher Larry Wimmer:
“Through a Glass Darkly: Examining Church Finances”
Abstract: The Mormon Hierarchy: Wealth & Corporate Power is Michael Quinn’s impressive response to a century of books and articles that have often distorted the finances of The Church of Jesus Christ of Latter-day Saints. This third volume in The Mormon Hierarchy series covers Church history from 1830 to 2010, and represents a staggering commitment. For 46 years Quinn has diligently gathered data on Church income, expenditures, taxation, and “living allowances” paid to Church leaders. The results are significant and engrossing, with but one possibly serious error. If you are interested in any aspect of the Church finances, the enormous effort required to bring us Wealth & Corporate Power may well be the final word. In Quinn’s own words, it tells an “American success story without parallel.”
Review of D. Michael Quinn, The Mormon Hierarchy: Wealth & Corporate Power (Salt Lake City: Signature Books, 2017), 597 pp., with appendices and index. $49.95.
And after ye have obtained a hope in Christ ye shall obtain riches, if ye seek them; and ye will seek them for the intent to do good—to clothe the naked, and to feed the hungry, and to liberate the captive, and administer relief to the sick and the afflicted. (Jacob 2:19)
Posted from Helsinki, Finland
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