In the wake of a “whistleblower” complaint alleging that The Church of Jesus Christ of Latter-day Saints has violated federal law by stockpiling a $100 billion investment portfolio from contributions intended for charity, the governing First Presidency issued a news release Tuesday insisting that the Utah-based faith “complies with all applicable law governing our donations, investments, taxes and reserves.”
"We take seriously the responsibility to care for the tithes and donations received from members. The vast majority of these funds are used immediately to meet the needs of the growing church including more meetinghouses, temples, education, humanitarian work and missionary efforts throughout the world.