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Churches could disclose financial information

By Hicbd
Tue May 16 2023 8:33 pm

"A former senior portfolio manager who worked at the investment arm of the Church of Jesus Christ of Latter-day Saints alleges the firm masqueraded as a charity and violated its tax exempt status by directing funds built from member donations to bail out business with ties to the church...Unlike other nonprofits, religious organizations do not have to fully disclose all financial information to the IRS."

URL:
https://www.cbsnews.com/news/mormon-church-ensign-peak-whistleblower-david-nielsen-allegations-60-minutes-2023-05-14/?ftag=CNM-00-10aab7d&linkId=214585347
https://www.forbes.com/sites/peterjreilly/2014/12/23/court-rules-churches-can-continue-to-conceal-financial-information/?sh=22adf5496e6d

URL Credit

Categories:
Laws U.S. Laws Religion U.S. Internal Revenue Service (IRS) Corruption / Fraud Investigative Reporting Nonprofit / NGO Research Mormonism / Church of Jesus Christ of Latter-day Saints Churches

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