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@jkirkrichards @Bon__Mots That includes our estimates for all real estate holdings. Some of that is what we view as operational assets or ecclesiastical buildings (chapels, temples, BYU campuses, Church farms), while malls, commercial farms, hotels etc are accounted as investment properties.

(Cover art AI-generated by Grok)

@schlopkins @on_the_citywall The 80% subsidy is based on the actual cost of operating BYU vs the amount charged for tuition. It is a calculation that is not impacted by the cost of any other schools.

@on_the_citywall Another simple thing you should include when looking at net subsidies is capex minus depreciation. Might not change your conclusion, but important to include. The difference is significant due to ongoing construction & renovation projects.

For 2025, we estimate $183k taxable-equivalent salary for LDS General Authorities (senior clergy). - 85% above the median UT household income - 2x higher than the average Church employee Church employment rose ~3% in '22 & ~4% in '23. 2024 data TBD.

@on_the_citywall Be sure to include grants and annual appropriations from the endowment as income. Those funds are donated to BYU by BYU donors with various restrictions. It’s in the financial statement notes. Not updated for 2023 yet (will be soon).

Financial data indicates an overall stable LDS activity rate in 2023 vs 2022. Data covers ~4% of global membership. Declines are evident in Canada, but this does not appear to reflect the trend in other regions.

Updated with a sharable link: 9 Common Misconceptions About the Settlement Between the U.S. SEC and Ensign Peak/LDS Church

Looking for help with the Church's 2023 UK charity filing.

FAIR presentation on Church finances — clarifications

@mikeallencali Yes

For those wondering, old links DO still work.

Updated with 2023 statistics from the LDS Church in Australia. 17 new NRS claims in 2023 represents an acceleration of our prior trendline analysis. Our estimates have been updated accordingly. No change to overall or comparative conclusions.

The LDS Church has increased humanitarian aid donations by roughly 5x since its finances became more visible to the general public. While the Church has not stated a reason for this dramatic shift, the outcome is laudable and we anticipate more.

In Q2, Ensign Peak sold about $1.6b of US stocks. Biggest selling quarter on record for the fund. Underperformance vs the S&P 500 continued in Q2. Stock-picking has detracted by roughly $3 billion since 2020, as compared with owning the index.