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Following The Money In The United Kingdom

The Church is registered as both a charity and a company, and as such it is required to be registered with the Charity Commission and Companies House. It is also obliged to publish year-end accounts of it's activities. Interestingly the Church was one of a number of charities that was censured for late returns of it's accounts for 2004. As each charity has 10 months from the end of the year to submit its report we will have to wait until 31st October to find out how the church faired in 2005.

The Church has three charities that are currently registered;

The Church of Jesus Christ of Latter Day Saints (Great Britain) The Church of Jesus Christ of Latter Day Saints (Welfare) LDS Family Services (UK) Ltd.

Each of these organisations is wholly owned by two parent companies; The Corporation of the President of The Church of Jesus Christ of Latter Day Saints (aka Gordon "The Hammer" Hinckley) and The Corporation of the Presiding Bishop of The Church of Jesus Christ of Latter Day Saints (aka David "The Bruiser" Burton), both of Salt Lake City, Utah.

If you scroll down each of these links you will see a further link where you can view the yearly reports for each organisation. The COJCOLD (Welfare) also owns three additional, separate companies (not charities). These are;

AgReserves Ltd Farmspeed (Southery Anchor) Ltd Hallwsworth (Farmland Trust) Ltd

You can search for basic details of these companies here. You also have the option of paying £1 per document to look at their annual returns. I looked at a sample and will post info on this at a later date. Each of these companies are farming enterprises, and grow the wheat that we all get to buy, pack and add to our food storage.

Some of the basic info that i picked up from the accounts of the 'main' church charity include;

Surplus income over expenditure was £2,042,000, assisted by a £5m donation from the boys in SLC, leaving a balance in their HSBC account of £20,891,000.

For a church that has no paid ministry we managed to spend £7,752,000 on staff costs, in fact it was the largest single expenditure.

As well as this £856,000 was spent on 'travel', £2,301,000 on 'General administration', £265,000 on 'Materials and supplies' and £855,000 on equipment.

Despite members donating £252,000 to the Humanitarian Aid Fund the church only spent £51,000 of it. More on this another time because this sort of thing really really ticks me off.

In 2004 the number of employees earning between £70-£80k was 1; £60-£70k was 7 and £50-£60k was 12. Nice work if you can get it.

Assets in the course of construction, land and buildings, equipment and motor vehicles came to a value of £299,227,000. Depreciation of these assets was reckoned to be £52,502,000 which gives the church a net worth in terms of tangible assets of £246,725,000, a little under £0.25bn. And that doesn't include the cash in the bank.

There is an outstanding 'loan' from the parent company ("The Hammer") of £228,358,000. I used the word loan loosely as it stipulates there is no interest charge and no fixed repayment terms. More on this later as i need time to decipher the jargon; looks like large sums being channelled back to SLC but will check.

"The Church's active membership continues to grow" - yeah right. At year end there were 45 stakes, 1 District, 278 Wards and 85 Branches in Great Britain and Ireland. Compared to the end of 2003 there have been no additional Stakes, no additional Districts, 4 additional Wards, and 10 fewer Branches.

The stone that isn't rolling forth.

Continued...

The Church is registered as both a charity and a company, and as such it is required to be registered with the Charity Commission and Companies House.

OH???

Corporation of the President

ARTICLES OF INCORPORATION
of the
CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS
CHRIST OF LATTER-DAY SAINTS.

UNITED STATES OF AMERICA,

STATE OF UTAH

COUNTY OF SALT LAKE

I, the undersigned, having been duly chosen and appointed President of the Church of Jesus Christ of Latter-day Saints, in conformity with the rites, regulations and discipline of said Church, being desirous of forming a corporation for the purpose of acquiring, holding and disposing of Church or religious society property, for the benefit of religion, for works of charity and for public worship, under and pursuant to the provisions of Chapter 3, Title 19, of the Compiled Laws of Utah, 1917, on "Churches and Religious Societies," and all acts amendatory thereof and supplementary thereto, for that purpose do hereby make and subscribe, in duplicate, the following

ARTICLES OF INCORPORATION

First: The name of this corporation shall be the CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS.

Second: The object of this corporation shall be to acquire, hold and dispose of such real and personal property as may be conveyed to or acquired by said corporation for the benefit of the members of the Church of Jesus Christ of Latter-day Saints, a religious society, for the benefit of religion, for works of charity and for public worship. Such real and personal property may be situated, either within the State of Utah, or elsewhere, and this corporation shall have power, without any authority or authorization from the members of said Church or religious society, to grant, sell, convey, rent, mortgage, exchange, or otherwise dispose of any part or all of such property.

Third: The estimated value of the property of which I hold the legal title for the purpose aforesaid, at the time of making these Articles of Incorporation, is One Million, Five Hundred Thousand Dollars.

Fourth: The title of the person making these Articles of Incorporation is "PRESIDENT OF THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS."

Fifth: The corporation seal shall contain the words, "Corporation of the President of the Church of Jesus Christ of Latter-day Saints," and an impression thereof is hereto affixed.

[Seal] [Signed] Heber J. Grant
President of the Church of Jesus
Christ of Latter-day Saints.

STATE OF UTAH
SS:
COUNTY OF SALT LAKE

On this 26th day of November, 1923, before me, Arthur Winter, a Notary Public in and for said County, personally appeared HEBER J. GRANT, who is known to me to be the person whose name is subscribed to the foregoing instrument as President of the Church of Jesus Christ of Latter-day Saints, and duly acknowledged to me that he executed the same as such President.

[Seal] [Signed] Arthur Winter
Notary Public
Residing at Salt Lake City, Utah.
My commission expires Dec. 1, 1923.

AMENDMENT TO

ARTICLES OF INCORPORATION
of the
CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS
CHRIST OF LATTER-DAY SAINTS.

UNITED STATES OF AMERICA
STATE OF UTAH ss.
COUNTY OF SALT LAKE

HEBER J. GRANT, being first duly sworn, deposes and says:

That he is now and for more than twenty years last past has been the duly chosen and appointed President of the Church of Jesus Christ of Latter-day Saints and as such President has been since on or about the 26th day of November, 1923, and now is, the legally constituted Corporation of the President of the Church of Jesus Christ of Latter=day Saints, a corporation sole; that under and pursuant to Section 18-7-5 R.S.U. 1933 he hereby amends Article "Fourth" of said Articles of Incorporation as now of record in the proper offices of this and other states, said article as amended to read as follows:

ARTICLE FOURTH

Fourth: The title of the person making these articles of incorporation is "President of the Church of Jesus Christ of Latter-day Saints." He and his successor in office shall be deemed and are hereby created a body politic and corporation sole with perpetual succession, having all the powers and rights and authority in these articles specified or provided for by law. But in the event of death or resignation from office of the President of the Church of Jesus Christ of Latter-day Saints, or in the event of a vacancy in that office from any cause, the President or Acting President of the Quorum of the Twelve Apostles of said Church, or one of the members of said Quorum thereunto designated by that Quorum, shall, pending the installation of a successor President of the Church of Jesus Christ of Latter-day Saints, be the corporation sole under these articles, and the laws pursuant to which they are made, and shall be and is authorized in his official capacity to execute in the name of the corporation all documents or other writings necessary to the carrying on of its purposes, business and objects, and to do all things in the name of the corporation which the original signer of the articles of incorporation might do; it being the purpose of these articles that there shall be no failure in succession in the office of such corporation sole.

[Signed] Heber J. Grant
President of the Church of Jesus
Christ of Latter-day Saints,
corporation sole.
[Seal]

Subscribed and sworn to before me this 18 day of June, 1940.
[the name of Notary Public not shown on copy of amendment]

(Original in State of Utah Archives, Salt Lake City, Utah)

ARTICLES OF AMENDMENT
TO THE

ARTICLES OF INCORPORATION
of the
CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS
CHRIST OF LATTER-DAY SAINTS.

A UTAH CORPORATION SOLE

Pursuant to the provisions of Section 16-7-5 of the Utah Code Annotated 1953 (as amended) relating to amendments of articles of incorporation of corporations sole, the CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS, a Utah Corporation Sole, does hereby amend its Articles of Incorporation by adding an additional Paragraph V thereto as follows:

Upon the winding up and dissolution of this corporation, after paying or adequately providing for the debts and obligations of the corporation, the remaining assets shall be distributed to a nonprofit fund, foundation or corporation, which is organized and operated exclusively for charitable, educational, or religious and/or scientific purposes and which has established its tax-exempt status under Section 501(c)(3) of the Internal Revenue Code.

IN WITNESS WHEREOF, the undersigned has caused these presents to be executed this 19th day of November, 1973.

CORPORATION OF THE PRESIDENT OF THE
CHURCH OF JESUS CHRIST OF LATTER-DAY
SAINTS, a Utah Corporation Sole

By: [signed] Harold B. Lee
Harold B. Lee, Corporation Sole

STATE OF UTAH ) ss:
County of Salt Lake )

HAROLD B. LEE, being first duly sworn, deposes and says: That he is now and ever since July 7, 1972, has been the duly chosen and appointed President of The Church of Jesus Christ of Latter-Day Saints and, as such president, is now and ever since said date has been the legally constituted CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS, a Utah Corporation Sole; that the original Articles of Incorporation of said Corporation Sole were executed by Heber J. Grant, President of The Church of Jesus Christ of Latter-Day Saints; that he, Harold B. Lee, is the successor in office to the said Heber J. Grant; that he, Harold B. Lee, executed the foregoing Articles of Amendment as said Corporation Sole.

[signed] Harold B. Lee

SUBSCRIBED AND SWORN to before me this 19th day of November, 1973.

[signed] Wilford W Kirton, Jr
NOTARY PUBLIC
Residing at Salt Lake City, Utah
My commission expires:
2-3-77

Articles of Incorporation as amended:

ARTICLES OF INCORPORATION

First: The name of this corporation shall be the CORPORATION OF THE PRESIDENT OF THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS.

Fifth: Upon the winding up and dissolution of this corporation, after paying or adequately providing for the debts and obligations of the corporation, the remaining assets shall be distributed to a nonprofit fund, foundation or corporation, which is organized and operated exclusively for charitable, educational, or religious and/or scientific purposes and which has established its tex-exempt status under Section 501(c)(3) of the Internal Revenue Code.

Sixth: The corporate seal shall contain the words, "Corporation of the President of the Church of Jesus Christ of Latter-day Saints," and an impression thereof is hereto affixed.