None of my personal research has anything to do with owning land or making money. What my research will discuss is just how much commercial business income does this business own while making a fortune in profits without (as some claim) paying their fair share to the government.
In light of the theme of this research, I came across this research which also shows ownership of businesses run as owned by the Church thereby generating tax-free income. I thought you might find interesting this transcript of the US Senate Committee case regarding Mormon Senator Reed Smoot. Where did Mormon Church President Smith find time for meditation, let alone revelation?
Senate Committee Testimony Transcript:Tuesday, Jul 26, 2005, at 08:26 AM
Original Author(s): Anonymous
Topic: MORMON MONEY -Link To MC Article-
Mr. Tayler (Senate Attorney):What is your business?
Mr. Smith (Mormon Prophet and President): My principle business is that of president of the church.
Mr. Tayler: In what other business are you engaged?
Mr. Smith: I am engaged in NUMEROUS other businesses.
Mr. Tayler: What?
Mr. Smith: I am PRESIDENT of Zion's Cooperative Mercantile Institution.
Mr. Tayler: Of what other corporations are you an officer?
Mr. Smith: I am PRESIDENT of the State Bank of Utah, another institution.
Mr. Tayler: What else?
Mr. Smith: PRESIDENT of Zion's Savings Bank and Trust Company.
Mr. Tayler: What else?
Mr. Smith: I am PRESIDENT of the Utah Sugar Company.
Mr. Tayler: What else?
Mr. Smith: I am PRESIDENT of the Consolidated Wagon and Machine Company.
Mr. Tayler: What else?
Mr. Smith: There are several other SMALL INSTITUTIONS with which I am associated.
Mr. Tayler: Are you associated with the Utah Light and Power Company?
Mr. Smith: I am.
Mr. Tayler: In what capacity?
Mr. Smith: I am a director and PRESIDENT of the company.
Mr. Tayler: A director and the president?
Mr. Smith: Yes, sir.
Mr. Tayler: Had you that in mind when you classified the others as 'small concerns'?
Mr. Smith: No sir, I had not that in mind.
Mr. Tayler: That is a 'large concern'?
Mr. Smith: That is a large concern?
Mr. Tayler: Are you an officer of the Salt Lake and Los Angeles Railroad Company?
Mr. Smith: I am.
Mr. Tayler: What?
Mr. Smith: PRESIDENT and director.
Mr. Tayler: Of what else are you President?
Mr. Smith: I am PRESIDENT of the Salt Air Beach Company.
Mr. Tayler: What else, if you can recall.
Mr. Smith: I DO NOT RECALL JUST NOW!
Mr. Tayler: What relation do you sustain to the Idaho Sugar Company?
Mr. Smith: I am a director of that company and also the PRESIDENT of it.
Mr. Tayler: Of the Inland Crystal Salt Company?
Mr. Smith: Also the SAME POSITION THERE.
Mr. Tayler: The Salt Lake Dramatic Association?
Mr. Smith: I am PRESIDENT of that and also a DIRECTOR.
Mr. Tayler: Are you president of any other corporation there?
Mr. Smith: I DO NOT KNOW. PERHAPS YOU CAN TELL ME!! I DO NOT REMEMBER ANY MORE JUST NOW!
Mr. Tayler: It would seem that the number has grown so large that it would be an undue tax upon your memory to charge you with naming them all.
Mr. Smith: What relation do you sustain to the Salt Lake Knitting Company? Did I already ask you about it?
Mr. Smith: No sir, you did not.
Mr. Tayler: The Salt Lake Knitting Company?
Mr. Smith: I am PRESIDENT of it, and also a director.
Mr. Tayler: The Union Pacific Railway Company?
Mr. Smith: I am a DIRECTOR.
Mr. Tayler: Are you an official of any mining companies?
Mr. Smith: Yes, sir.
Mr. Tayler: What?
Mr. Smith: I am the vice-president of the Bullion, Beck and Champion Mining Company.
Mr. Tayler: The Deseret News?
Mr. Smith: No, sir.
Mr. Tayler: You have no business relations with that?
Mr. Smith: NO SIR.
Mr. Tayler: Is the Deseret News the 'organ of the Church'?
Mr. Smith: Well, I suppose it is in some sense the 'organ of the church'. It is not opposed to the church, at least.
Mr. Tayler: It has for years published, has it not, at the head of its columns, that it is "the organ of the church", or the "official organ of the church"?
Mr. Smith: Not that I know of.
Mr. Tayler: Do you know who owns it?
Mr. Smith: How is that?
Mr. Tayler: Do you know who owns it?
Mr. Smith: I know who owns the building that it is in.
Mr. Tayler: Who owns the building in which it is published?
Mr. Smith: The church.
Mr. Tayler: The church?
Mr. Smith: Yes, sir.
Mr. Tayler: Tell us what you know about the owners of that newspaper.
Mr. Smith: It has been for a number of years past owned by a company --- AN INCORPORATED COMPANY.
Mr. Tayler: What is the name of the company?
Mr. Smith: The Deseret News Publishing Company.
Mr. Tayler: Do you know who its officers are?
Mr. Smith: No, it is not owned by that company.
Mr. Tayler: Oh, it is not?
Mr. Smith: No; it is not.
Mr. Tayler: What do you know ----
Mr. Smith: But I say for years it was owned by a company of that kind.
Mr. Tayler: What do you know about its present ownership?
Mr. Smith: I presume that the present ownership is IN THE CHURCH.
Mr. Tayler: You suppose the present owner is 'the church'?
Mr. Smith: Yes, sir; the church.
Mr. Tayler: I do not want to have any misconstruction put upon your use of the word 'presume' because you do not know that it is so owned?
Mr. Smith: I really do not know so that I could tell you positively.
Mr. Tayler: Who would know?
Mr. Smith: I PRESUME I could find out.
Mr. Tayler: Could you find out before you leave Washington?
Mr. Smith: Perhaps so.
(SOURCE: Reed Smoot Case transcript, Vol. 1, pp. 81, 82, 83, 86, 87, and 88)
A day later, because the ownership of the Deseret News and its articles were keys to the case, Joseph F. Smith testified:
Mr. Tayler: In what form does your church have title to the Deseret News property?
Mr. Smith: It owns the deed.
Mr. Tayler: I am speaking of the newspaper, not the building.
Mr. Smith: The press; yes. I would like to state that when I was asked that question before, Mr. Tayler, I was not aware of the fact that I have since learned from my counsel here that during the trusteeship of Lorenzo Snow the Deseret News plant was transferred from the Deseret News Company to Lorenzo Snow, trustee, in trust. I was not aware of the fact, Mr. Chairman, when that question was asked me yesterday, I believe it was. I have since learned that that is the fact and that my counsel who is here made out the papers for the transfer. .....
Mr. Tayler: So that it is now in YOU as trustee in trust?
Mr. Smith: NOW I OWN IT AS TRUSTEE IN TRUST. Furthermore, I will say that I have discovered since yesterday that there is published on the second or third page of the Deseret News the statement that it is the "organ of the Church of Jesus Christ of Latter-Day Saints"
(Reed Smoot case, Vol. 1, page 158).
As you can see, the Mormon Church has been about business for a very long time.
LDS Inc. - a partial listing of corporations owned by the Mormon Church
The Mormon Church Owns More Than 1% Of All Rembrandt Art
The Church recently purchased 17 of Rembrandt van Rijn's 70 biblical etchings. There are some 1500 authenticated Rembrandt pieces. 17 divided by 1500 is slightly more than 1%. The article in the "Ensign" hints that the Church owns more Rembrandts.
HONOLULU (AP) _ An affiliate of the Mormon Church is planning to build some 550 affordable homes on more than 660 acres on Oahu's North Shore.
http://www.mormoncurtain.com/topic_mormon_money.html
Thursday, Oct 20, 2005, at 10:46 AM
Original Author(s): Anonymous
Topic: MORMON MONEY -Link To MC Article-
Hawaii Reserves Incorporated has been planning the single- and multifamily development since it bought the land between Kahuku and Laie two years ago from Campbell Estate.
The company says the majority of the homes in the Malaekahana Master Planned Community will be priced for local residents who work in the Laie area.
"Hawaii Reserves" is the land management arm of the Church of Jesus Christ of Latter-day Saints.
It owns or manages about seven thousand acres around Laie, and is planning to replace the 48-room Laie Inn with a 144-room hotel according to Eric Beaver President of Hawaii Reserves Inc. (HRI)For more information, visit: www.envisionlaie.com
http://www.hawaiireporter.com/ground-broken-for-new-courtyard-by-marriott-laie-hotel
Properties & businesses that are owned by the Mormon Church - Are they tax free?
Deseret Management Corporation - http://www.deseretmanagement.com/
Beneficial Financial Group - http://www.beneficialfinancialgroup.com/
Bonneville International - http://www.bonnint.com/
Bonneville Communications - http://www.bonneville.com/
Bonneville Interactive Services
Bonneville Satellite - http://www.bonnevillesatellite.com/
35 Radio Stations
1 Television Station (KSL)
Deseret Book - http://deseretbook.com/
Excel Entertainment - http://www.xelent.com/
Deseret Morning News - http://deseretnews.com/dn
Hawaii Reserves - http://www.hawaiireserves.com/
Polynesian Cultural Center (PCC) - http://www.polynesia.com/ and http://www.polynesia.co.jp/
La'ie Shopping Center
La'ie Park
La'ie Cemetary
Hukilau Beach Park
La'ie Water Company
La'ie Treatment Works (sewer)
Mstar.net - http://www.mstar.net/preportal/index.asp
Temple Square Hospitality - http://www.htsc.net/ and http://www.hoteltsc.com/
Weddings (JSMB and Lion House)
The Inn at Temple Square - http://www.diningattemplesquare.com/
Lion House Pantry - http://www.diningattemplesquare.com/
The Roof Restaurant - http://www.diningattemplesquare.com/
The Garden Restaurant - http://www.diningattemplesquare.com/
Passages Restaurant - http://www.diningattemplesquare.com/
Zions Securities Corporation - http://www.zsc.com/
Farm Management Corporation (commericial farms and agricultural properties)
Deseret Land and Livestock
200,000 acres of land in Rich, Morgan and Weber counties (Utah)
Sun Ranch (Martin's Cove)
Deseret Ranches of Florida (Orlando) (largest ranch in Florida)
Deseret Farms of California
Rolling Hills (Idaho)
West Hills Orchards (Elberta, Utah)
Cactus Lane Ranch (Arizona)
(more)
Corporation of the Presiding Bishop of the Church of Jesus Christ of Latter-day Saints (CPB)
Corporation of the President of the Church of Jesus Christ of Latter-day
Saints Deseret Trust Company
LDS Family Services
Property Reserves Inc. (PRI)
Ensign Peak Advisors - http://www.imno.org/articles.asp?qid=123
Deseret Mutual Benefit Administrators (DMBA) - http://www.dmba.com/
Brigham Young University (BYU) - http://home.byu.edu/webapp/home/index.jsp
BYU - Idaho - http://www.byui.edu/
BYU - Hawaii - http://www.byuh.edu/index.jsp
LDS Business College - http://www.ldsbc.edu/
Nebraska-Farmland Reserve Inc-Rex Ranch
Australia-Agreserves Australia Limited-Kooba Station
This list is insane! They own the Lai'e Shopping Center? The Beach Park? Restaurants? Good grief! This whole operation is a business masquerading as a church for the tax free status. The church bought the ranch last year, I believe. Based on the fair market value/acre, it would've cost about US$26 million.
Some other properties research has discovered.
Agreserves Australia LTD Kooba Station,Australia.
Deseret Ranches of Alberta Raymond,AB Canada
Agreserves LTD Cambridge,England
AgroReservas, S.C. Los Mochis, Mexico
Deseret Farms of CA Woodland, CA
Deseret Farms of CA Modesto,CA
Deseret Farms of CA Chico,CA
South valley Farms Bakersfield, CA
Deseret Security Farms Blythe, CA
Naples Farms Naples,FL
Deseret Cattle & Citrus ST. Cloud, FL
Deseret Farms of Ruskin Ruskin, FL
Kewela Plantation O'ahu,HI
Rex Ranch Ashby, NE
Riverbend Farms ST.Paul, OR
Deseret Land & Livestock Woodruff, UT
Wasatch-Dixie Farms Elberta, UT
Agreserves Cottle CO.,TX
Agrinorthwest kennewick,WA
Handcart Ranch Alcova, WY
Deseret Ranches of Wyoming Cody,WY
The Church owns the Triad Center,
As offered by another source, this writer imparts part of the list above.
The Church of Jesus Christ of Latter-day Saints (commonly called the "Mormon" Church) operates the "Deseret Holding Corporation". This holding corporation oversees the following companies:
KSL/Deseret News: A television, radio, internet, and print news source based in Salt Lake City
Deseret Book: A Latter-day Saint themed religious book and media store.
Temple Square Hospitality: A group of restaurants, reception centers, and hotels around Church Headquarters in Salt Lake City.
Beneficial Financial Group: a retirement fund and life insurance company
The Church also owns and operates several historic sites, visitors centers, and tourist attractions around the world.
While the Church itself owns these companies, Church members own or operate many prominante companies. These people include:
Nolan Archibald, CEO of Black & Decker
Jerry and Ralph Atkin, Founder and CEO of SkyWest Airlines
Francis Cash, CEO of LaQuinta Hotels
Johnathan Coon, President of 1-800 Contacts
Stephen R. Covey, Chairman of Franklin Covey
Gary Crittenden, CEO of American Express
Jon Huntsman, CEO of Huntsman Chemical and Huntsman Cancer Institute
Jim Jannard, CEO of Oakley
Brett Keller, CMO of Priceline.com
J. and Richard Marriott, Founder and Chairman of Marriott Hotels
Dimon McPherson, CEO of Nationwide Insurance
David Neeleman, CEO of JetBlue Airlines
Stewart Nelson and Ray Noorda, CEO and COO of Novell
Non of this information herein listed is designed or intended to slander LDS, the Church or any member of the Church et al. Hopefully no reader of this informational blog views it as such. It is simply a collection of information or data that I might like to view in the future for my own personal research.
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