Mormon church investment fund had nearly $38 billion

Mormon church investment fund had nearly $38 billion

SALT LAKE CITY (AP) — A filing shows The Church of Jesus Chris of Latter-day Saints’ largest investment fund had nearly $38 billion at the end of 2019. The Salt Lake Tribune reports the fund submitted the filing to the U.S. Securities and Exchange Commission on Feb. 14. A former church investment manager has filed a complaint with the IRS alleging the church had improperly built a $100 billion investment portfolio using member donations that are supposed to go to charitable causes. The church is not required to include investments in property or private companies in the filing. The newspaper says a church spokesman declined to answer questions about why the recent filing was made.