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What the Mormon Church’s Assets Mean for Sexual Abuse Victims

February 9, 2021  ·  By HM&M

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The Church of Jesus Christ of Latter-day Saints—formerly known as the LDS or Mormon Church–is one of the wealthiest religious organizations in the world.

Between donations from its more than 16.5 million members and the practice of tithing, where members are asked to give 10 % of their income to the Church, it usually amasses about $7 billion annually.

However, it’s actually worth much more. In 2019, a whistleblower filed a complaint with the Internal Revenue Service, alleging that the Church had collected more than $100 billion in investment funds. Though the Church claims the money—which had been gathered in part from member tithes and was being managed by a Church-owned company—was for nonprofit charitable giving, the complaint shows that no charitable donations had been made.

This finding is a disturbing example of how religious organizations can successfully hide important information from the public, but it’s not the only example. Recently, numerous allegations of the Church burying sexual abuse complaints and silencing victims have come to light, resulting in multiple lawsuits.

How will the Church of Jesus Christ of Latter-day Saints’ massive reserve of financial resources affect sexual abuse victims?

Sexual Abuse Claims and Financial Compensation

Victims of sexual abuse at the hands of the Church of Jesus Christ of Latter-day Saints might be wondering how the Church’s financial status will impact them, should they opt to file a claim.

Should you seek financial compensation (also referred to as “damages”), your experienced attorney will guide you in determining the amount of compensation you deserve in light of the severity of your abuse. Wealthy religious and youth organizations that have accumulated billions of dollars of assets from the work, faith, and charity of their members have a moral duty to fully and fairly compensate victims of childhood sexual abuse. That said, organizations sometimes try unfair tactics to protect their assets and avoid paying victims what they’re owed. Here’s one example: The Boy Scouts of America, when hit with mounting claims of sexual abuse, filed for bankruptcy and attempted to avoid moving well-deserved assets into the victims compensation fund.

In this type of unfair instance, partnering with an experienced sexual abuse attorney becomes invaluable. They can guide you through next steps and how to get the compensation you’re owed.

More Questions About Mormon Church Sexual Abuse Lawsuits?

Hurley McKenna & Mertz has represented thousands of sexual abuse victims in their journeys to seek closure. We’re here to advise you of your rights and to simplify the process of filing a claim.

If you have questions, just reach out. We’ll offer you a free, confidential consultation.

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