Why The Former Church Employee's IRS Complaint Holds No Water
Welcome to the incredibly confusing world of Tax laws! In a recent "public scandal" a former church employee claimed that the church has been misusing its donations and hiding its money from tax laws. This ex-employee was a senior portfolio manager at the church owned organization, "Ensign Peaks", an organization responsible for investing a portion of the church's funds. According to Nielson (the name of the former employee), the church gives about $1 Billion a year for Ensign Peaks to invest--and it sounds like they're doing a good job at it! Since 1985, Ensign Peaks, has amassed about $100 Billion! So it sounds like they're doing exactly what they're supposed to be doing. So, what are Nielson's complaints? Well, according to him Ensign Peaks broke IRS tax-exempt law because it has not donated to any charitable causes. Instead, he claims, that Ensign Peaks has only ever used funds from the $100 Billion twice--both times to bail out chur