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100 billion for Advent

100 billion for Advent

Washington Post and Forbes published an investigation into the case of Mormon church. One of the parishioners wrote a complaint to the Internal Revenue Service, in which he indicated that the church had accumulated about $ 100 billion and had not spent it during the past 20 years.

     The foundation of the church is managed by Ensign Peak Advisors. In a complaint, David A. Nielsen said that over the past 20 years the church has raised $100 billion and instead of spending this money on charity, it puts it aside for the Second Coming of Christ, thereby deceiving parishioners. In the states, non-profit organizations are not taxed, but Nielsen asks to deprive the company of these privileges, since the funds are not transferred to charity.

     The church calls on its parishioners to give 10% of their annual income on donations. Every year they receive about $7 billion in donations and $1 billion is contributed to the Ensign Fund. A former Tax Administration official confirms that the fund most likely violates US law by holding such assets in the account.

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