NOM

27.5% drop in income from 2014 to 2015. Can't wait to see 2016. At that rate they will be negative for the year.

MalcolmVillager wrote:27.5% drop in income from 2014 to 2015. Can't wait to see 2016. At that rate they will be negative for the year.

The notes indicate the income reduction was due to a special depreciation event. Mel - does have anything to do with the scandal? I don't think it does since the reduction is $2.3M Euros instead of the approx $350k you mentioned.

If the notes are accurate, we should see total income for 2016 be around $7.5M Euros. I assume "Donations" is tithing, which didn't change much.

Of a bigger interest to me is the "Assistance to Poor and Needy". That expense item feels woefully small - just over 2% of income. And since they don't budget for the the poor and needy, they can be miserly without consequence.

In the expenses, we see the mission expense gradually decreasing. The Church activities, Seminaries and Administration expenses are all increasing a little. Maybe this offers a little insight to the current status of things. Perhaps they expect fewer missionaries or a less effective missionary force. Perhaps they are countering the reduction of missionary activity with better indoctrination effort and member retention by means of more managements, better funded church activities and seminary programs.

Church sold some buildings in 2014 generations extra income.
Fastofferings for this one bishop were abt 100K in 2010 & 2011
60K for 2012-2015, it stopped in June 2015

It was utterly fascinating to read this stuff in light of the financial scandal that was exposed under your dearly departed SP. What a great story.

Posted the link on my FB-account.

One thing, Mission-expenses are higher than the Church in itself
Another, The Church is making a profit in NL
Thirdly, Missionexpenses are 10 times those of fastofferings.

This is great Meilingkie! Thanks for posting. It is nice to see some real numbers.

Any idea what "Grant Income" is or where it comes from? Is that money from SLC?

The link is a church owned site.

Interesting.

I took a look at the tax reporting in Canada over the last 5 reporting years (2011 - 2015) that are available online. It is a little confusing as it appears there is a new tax preparer and some of the information is being recorded differently. Key takeaways are:
- Total eligible amount of all gifts for which the charity issued tax receipts: Ranged from a low of $151.8 M(CDN) in 2011 to $173M (CDN) in 2015
- Total revenue: Ranged from $162.2M (CDN) in 2011 to $193.5M (CDN) in 2015
- Total expenditures on charitable activities: Ranged from $129.5M in 2012 to $98M in 2013[/list]

Where things get really interesting (and where the reporting seems to have made a change) is:

- Total amount of gifts made to all qualified donees: in 2014 and 2015, gifts of $87M and $63.4M were reported to BYU. In previous years, the amounts transferred to each unit were reported.

I am REALLY irritated at the amount transferred to BYU since we were constantly told not to send our kids there, but have them go to school here to build the strength of the Church locally. DH believes that the $ didn't go to BYU but this is just the easiest way to funnel it out of the country. If that is the case, it strikes me as very dishonest.

- It appears that the Church re-aligned salaries in 2012. Total compensation was $14M in 2011 and spiked at $20M in 2012. The last two years it has been in the $13.6M range. Prior to the drop off, there were 8 to 9 people earning $120 - $160K and one earning $160k - $200K. Since 2013, that number has changed to 7 to 9 earning $80k - $120k and 1 to 3 earning $120k - $160k. I'm guessing that the big compensation spike in 2012 was lump-sum payments to realign salaries....?

I'm interested in other interpretations in the numbers.