Posted on 03/22/2012 6:29:38 AM PDT by Utah Binger
SALT LAKE CITY -- The Church of Jesus Christ of Latter-day Saints is attempting to remake downtown Salt Lake City by opening the shopping mall portion of a $2 billion mixed-use space that spans two city blocks and features a meandering creek and retractable glass roofs.
Church partner and retail operator Taubman Centers Inc. expects 50,000 visitors today, when City Creek Center's nearly 90 stores open.
City Creek Center has outdoor walkways, plazas, fireplaces and metal sculptures. Waterfalls, fountains and a trout pond are part of the village-like development, which includes condominiums and is joined by a pedestrian bridge over Main Street.
The residential towers were built by City Creek Reserve Inc., a for-profit firm owned by The Church of Jesus Christ of Latter-day Saints. The church is a multibillion-dollar organization with business and real estate holdings.
The church paid for City Creek Center with cash and says no member tithing was used. For the most part, it will be like other shopping malls, except that the stores close on Sundays -- the church wanted the Sabbath for its nearby Temple Square.
It will be operated like Taubman Centers' other upscale malls in Los Angeles and Denver, said Robert Taubman, chairman, president and CEO of the Bloomfield Hills, Mich.-based company. Two of the restaurants at the Salt Lake City mall will serve liquor, but there are no bars. Its anchors are Macy's and Nordstrom, with other stores such as Tiffany & Co. and the Swedish fashion chain H&M.
(Excerpt) Read more at standard.net ...
$2 billion. No charity, just business.
Wonder how much money went to help food pantries or services for the elderly or for children?
Also, as the founder of a non profit I find it very interesting that they get away with breaking all the IRS Non Profit Rules
Is Mitt’s non profit based in Utah?
$2B??? Seems like a “reasonable” number since I’ve seen figures that go as low as $420M to as high as $5B. It’s apparent that the mormon church doesn’t believe in honest and open accountability to its members since the church won’t divulge exactly how much it cost.
Oh, and the argument that no tithing funds were used, lame.
Money is a fungible resource. The church had to start building their empire with something. Tithing money is the obvious source of all the church wealth.
A monument to consumerism created by a “church”.
Building up the empir...err, “kingdom”.
Correction: "In case of any major catastrophe all mormon women and children will be placed in the mall for shelter and be fed at the food court
Reminds me of Fred Sanford’s “Church of the Divine Profit.”
Now...they have "for-profit" businesses....and do pay taxes on those businesses. But the bulk of the "seed" money for all their current businesses, and land holdings was tithe monies. There's little question about that.
LDS,Inc. has billions in assets...
Well played sir, well played.
“Counting up the dough....Counting up the dough....We shall come rejoicing....Counting up the dough.”
LOL! I’m picturing that episode in my mind right now.
Classic stuff.
Your tithing dollars at work.
I do not know the answer to that. Used to have one of his pals on our board. Secret stuff goes on in SLC.
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
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.
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:
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 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
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." 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.
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.
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