Bob (me): Hello?
Ken: How can we help you today?
Bob: I have a question about the LDS Church.
Casey: Great! We’ll do our best to help.
Bob: Why is the LDS Church building a multimillion dollar, 32 story apartment building in Philadelphia?
Casey: The Church practices what it teaches when it comes to finances. They have a couple for profit companies that pay taxes and such that the Church uses as a sort of “rainy day fund”. If something were to happen, the Church would be able to take care of a lot of people for a long time. That being said, when good investment opportunities come up, they take them, in addition, property ones like this, I have noticed are used to help areas economically as well. The lot that the high rise will be built on will help the area around the Temple that the Church is also building there.
Bob: Okay. Thanks.
Casey: Does that make sense.
Bob (Since he asked me a question, I decided I would ask another): Well, how exactly does the LDS Church “take care of people” with this money?
Casey: Most of the for profit businesses the Church has are farms and land and such. They could easily turn that into a way to feed a lot of people in an emergency. As far as I understand as well, some of the farms are used to supply our Church’s welfare program, where they help feed member families that are struggling as well as humanitarian efforts where our Church sends tons and tons of food and packages to countries in need (e.g., the typoon in Phillipines
Bob: And the apartments in Philadelphia contribute to that effort?
Casey: I’m not sure what the apartments in Phili will be used for. Sometimes I’m sure the church does it to build up their actual cash rainy day fund, I’m not sure exactly.
Bob: Okay. Thanks. Much obliged.
Casey: You bet, can I ask what sparked your question originally?
Bob: Sure. I read the news article about it in the New York Times.
Casey: Great! Do you know much more about our faith?
Bob: A fair amount, yes.
Casey: Yeah, the way the Church handles their finances really adds to my testimony that it is ran by inspiration. The Church will never go into debt. They won’t dedicate a Church building unless it is paid for in full. They are good stewards of what God gives them. Money is just another opportunity to take care of something that God has given us. Especially in today’s society when a lot of Americans and businesses, or governments are not very responsible with money. We know that everything we have and every opportunity we get is from God and so we should treat it that way. I hope that all makes sense?
Bob: Sure. Though, how do you know how the LDS Church manages it’s finances. They aren’t public record, are they?
Casey: No, dollar amounts are not public, but some of the principles they follow are.
Bob: Okay. Thanks.
Casey: You bet! Bob, would you be interested in talking to full-time missionaries in your area?
Bob: No. But thank you for asking.
Ken: ok. well is there anything else we can assist you with today?
Bob: Nope. That’s plenty. Thank you. Have a good day.
Casey: You as well Bob, thanks for coming online to ask!