The Mormon church's investment arm is a 'clandestine hedge fund' disguised as a charity, whistleblower says
The SEC had said that Ensign Peak failed to file 13F forms — quarterly documents money managers above a certain size are required to file that detail fund holdings — from 1997 to 2019.
He explained that the church takes in about $7 billion a year from tithing — the expected 10% of annual income each member is expected to pay — and about $6 billion of that is used to pay for buildings and programs. The remaining $1 billion goes into Ensign Peak, according to Nielsen."These funds are then used to build up the Church and to further God's work throughout the world. God promises great blessings to those who pay tithing.
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