A complaint filed with the IRS alleges that a non-profit supporting organization controlled by the Church of Jesus Christ of Latter-day Saints used tithes to amass billions in investment funds, and says the Church misled members about uses of the money.
"I started to suspect that EPA was not compliant with its 501c3 or acting in accordance with its Articles of Incorporation around 2013," the whistleblower writes on a notarized cover letter to the IRS obtained by Religion Unplugged."I raised several flags and concerns over the years."The document tallies assets in EPA using downloaded spreadsheets of assets from across its portfolio from March 22, 2018.
The whistleblower complaint said EPA had 75 employees in 2019, up from 20 in 2010. They work in a building in Salt Lake City, Utah, that does not have a sign on the building or in the downstairs lobby according to the complaint. The company does not have a public web site.
"The Church of Jesus Christ of Latter-day Saints pays all taxes that are required by law," says an LDS Church statement about its tax status. Exhibits in the whistleblower complaint include internal documents, a masterplan and presentation slides from EPA where it describes the purposes of its reserves to support prophetic initiatives, church operating budgets, backstops to pension plans and collateral for church purposes.
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