NZ Church full financial returns details

[no1saint]

This is some interesting reading. Click on the financial statements for the full report and not the summary. The Church has been pumping millions of dollars into New Zealand to reimagine the former Church College of New Zealand site, and to prepare the Temple View Community for expansion on Church farm lands.

What catches my eye are the following lines (Keeping in mind the Area Presidency,Area offices and MTC are in Auckland):

Renumeration and other employee benefits // $18,700,000

Defined benefit plan movement // $1,266,000

General and administrative expenses // $9,231,000

Facility lease and operating expenses // $15,132,000

Grants, donations, humanitarian and local expenses // $4,985,000

To put this into context, that last line includes Ward and Stake Budgets and all charitable giving at local level. This constitutes 7% of the entire budget for the year. I understand that the Church requires staff and administration to run, but those figures aren't very flattering.

If you look at the past decade, the Church has supplemented the local revenue by well over $100,000,000. The excess of $37,910,000 is interesting now that the major developments have been completed. What is that money for?

If anyone has a better understanding of reading these reports and dig up some gems, please feel free to post here and dissect the financial machinations of the Church for all of us.

https://www.register.charities.govt.nz/ ... 17d34a2085

[Hagoth]

Fascinating stuff. Thanks, no1saint.

[deacon blues]

Wow! Why don't they require this in the U.S.?

[Korihor]

I look at financial statements from contractors all day to make underwriting decisions to extend credit.

Regardless of what I think of the church, from a pure underwriting financial risk perspective, Dayum! I would extend $100M+ in credit to the church without blinking.

[moksha]

Here is another full and important consideration to the New Zealand situation:

http://www.mormondiscussions.com/phpBB3 ... =1&t=46799

https://www.cityweekly.net/utah/warrior ... id=4802182

[no1saint]

Something that I missed that I hadn't picked up before, the 6 trustees are paid $912,000 in fees in 2016. This is down from $1,002,000 in 2015.

[no1saint]

Also, at the end of 2016 the total running costs for the Temple View project was $97,332,000 with capital commitments of $23,535,000. Add in a pending expensive Temple, patron motel and temple workers accomodation refurb and I dare say this project will approach $150-200,000,000. That's obscene. Why would you spend so much money that's intended purpose is to...beautify the lead up to the Temple and it's environs.

[Hagoth]

Also, at the end of 2016 the total running costs for the Temple View project was $97,332,000 with capital commitments of $23,535,000. Add in a pending expensive Temple, patron motel and temple workers accomodation refurb and I dare say this project will approach $150-200,000,000. That's obscene. Why would you spend so much money that's intended purpose is to...beautify the lead up to the Temple and it's environs.

I wish they had put out a call for bids. I'm pretty sure I could beautify and protect the temple for only a few tens of millions.

[no1saint]

Also, at the end of 2016 the total running costs for the Temple View project was $97,332,000 with capital commitments of $23,535,000. Add in a pending expensive Temple, patron motel and temple workers accomodation refurb and I dare say this project will approach $150-200,000,000. That's obscene. Why would you spend so much money that's intended purpose is to...beautify the lead up to the Temple and it's environs.

I wish they had put out a call for bids. I'm pretty sure I could beautify and protect the temple for only a few tens of millions.

I think the Church is completing the following: a) Building up it's worldwide assets on the balance sheet and b) Creating concentrated centres of members to have long term sustainable members. Investing over $100,000,000 is probably one of the biggest private injections of foreign capital New Zealand has seen. To spend over $8,000,000 on a roading project that sits on council owned land shows the lengths the Church is willing to go to for looks. I'll be looking very closely at the financial returns of the Church in NZ very closely over the next few years, but I dare say they are not finished spending yet. Considering the last census only showed 40,000 self identifying members, that feels like an over investment.

[Emower]

What else are going to do with the money? Give it to the poor? HA. Give me a break, those guys can fend for themselves...

In fact, maybe this is improving panhandling areas for them. Everybody wins!

[deacon blues]

I know this is a diversion from the main topic, but it's obvious the church has the resources to single-handedly solve the homeless problem in Salt Lake County. The question is, do they have the inspiration?

[Korihor]

I know this is a diversion from the main topic, but it's obvious the church has the resources to single-handedly solve the homeless problem in Salt Lake County. The question is, do they have the inspiration?

How many times do I have to say it? The homeless don't pay tithing so they don't deserve God's blessings.