{"id":101870,"date":"2023-09-16T16:47:21","date_gmt":"2023-09-16T22:47:21","guid":{"rendered":"https:\/\/www.patheos.com\/blogs\/danpeterson\/?p=101870"},"modified":"2023-09-16T16:47:27","modified_gmt":"2023-09-16T22:47:27","slug":"more-about-ld-inc","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/danpeterson\/2023\/09\/more-about-ld-inc.html","title":{"rendered":"More about “LD$ Inc.”"},"content":{"rendered":"\n<\/head>
\u00a0<\/p>\n
<\/a>
The John Taylor Building, on the Rexburg, Idaho, campus of Brigham Young University
(Wikimedia Commons; click to enlarge)<\/figcaption><\/figure>\n
\u00a0<\/p>\n
I pass on to you a message from my friend Scott Gordon, the president of FAIR LDS, about FAIR\u2019s upcoming virtual conference on \u201cDefending the Book of Mormon,\u201d which will occur on 22-23 September (commemorating the 200th anniversary of the appearance of the angel Moroni to the young Joseph Smith):<\/p>\n
Join us September 22-23 for a FREE virtual Book of Mormon conference with keynote speaker Richard Bushman<\/strong><\/p>\n
Please join us for this event commemorating the day in 1827 when the prophet Joseph Smith received the gold plates from Moroni from which the Book of Mormon was translated. We will be pleased to hear a presentation from our keynote speaker, Richard Bushman, on the evening of September 22 at 7:00 PM MDT, followed by a day of presentations on September 23. The entire event will be streamed free of charge on our YouTube channel. More information is available here<\/a>.<\/p>\n
Brother Bushman\u2019s presentation will stream here<\/a>. Click \u201cnotify me\u201d to get a reminder from YouTube when the session is about to begin.<\/p>\n
Saturday\u2019s presentations will be:<\/p>\n
Jake Billings<\/strong> \u2013\u00a0All things denote there is a God: Lehi\u2019s discourse on natural theology in Second Nephi 2<\/em><\/p>\n
Matthew Roper<\/strong> \u2013\u00a0The Book of Mormon and Archaeology Challenges: Questions and Perspectives<\/em><\/p>\n
Stephen Smoot<\/strong> \u2013\u00a0Is the Book of Mormon a \u201cTranslation\u201d or a \u201cRevelation\u201d?<\/em><\/p>\n
Joshua Gehly <\/strong>\u2013\u00a0The Cross of Christ and Golden Plates \u2013 Using an Established Historical Method to Authenticate Ancient Artifacts<\/em><\/p>\n
Morgan Deane<\/strong> \u2013\u00a0Greater Portion of the Word: The Decisive Book of Mormon in the Debates on War and Peace<\/em><\/p>\n
Charles Dike<\/strong> \u2013\u00a0Observations on Jaredite Ships and Travel to the Promised Land A Peculiar Journey<\/em><\/p>\n
Spencer R. Marsh and Spencer Kraus<\/strong> \u2013\u00a0The Lehites\u2019 God-Imposed Affliction by the Red Sea: A New Solution to the Puzzling 2 Nephi 19:1<\/em><\/p>\n
Brent Schmidt<\/strong> \u2013\u00a0The Restoration of Relational Grace Through the Book of Mormon<\/em><\/p>\n
Neal Rappleye<\/strong> \u2013\u00a0\u201cWritten Upon Gold Plates\u201d \u2013 Comparing Witness Descriptions with Artifacts from the Pre-Modern World<\/em><\/p>\n
During the conference, you can send questions for the Q&A by text at:<\/p>\n
(801) 801-4959<\/b><\/p>\n
Help us commemorate 200 years since Moroni\u2019s first visit to Joseph Smith as these scholars share their insights on defending the Book of Mormon.<\/p><\/blockquote>\n
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<\/a>
The Jacob Spori Building, on Brigham Young University\u2019s Idaho campus***
(Wikimedia Commons public domain image)<\/figcaption><\/figure>\n
** ***\u00a0<\/p>\nNow that the Wall Street Journal<\/em> has recognized BYU-Provo as among the top 20 universities in the US<\/a>, what endowment fund level should BYU maintain? The answer helps explain why the Church has such a large reserve fund managed by Ensign Peak Advisors.<\/div>\n<\/blockquote>\n<\/div>\n "\n
\n
I compared the endowment funds per enrolled students of the top 20 universities to determine what endowment BYU would be should maintain. BYU should have between $26 billion and $45 billion whereas it presently has only $2.7 billion.<\/div>\n
Fortunately there are ample reserves available to the Church of Jesus Christ of Latter-day Saints who operate BYU.<\/div>\n<\/div>\n
\n
Based on the endowment per enrolled student of all universities in the top 20 WSJ<\/em> universities, BYU should have the following endowment reserves:<\/div>\n
Median $26 billion<\/div>\n
Average $ 45 billion<\/div>\n
It presently has $2.7 billion<\/div>\n<\/div>\n
\n
Likewise BYU-Idaho should have an endowment fund of $4.6 billion whereas it now has $143 million<\/div>\n<\/div>\n
\n
Combined endowment reserves should be $30 billion to $50 billion for all the Church colleges.<\/div>\n<\/div>\n
\n
Top 20 university endowment funds:<\/div>\n<\/div>\n
\n
https:\/\/nces.ed.gov\/fastfacts\/display.asp?id=73<\/a><\/div>\n<\/div>\n
\n
Endowment funds support the teaching, research, and public service missions of colleges and universities. The income generated is intended to finance a portion of the operating or capital requirements of the institution.<\/div>\n<\/div>\n
\n
Earlier I crunched the numbers to estimate the cost to repair and eventually replace the church buildings needed to house 33,000 wards. That number is about $50 Billion. Prudent property management principles applicable to HOAs (I have served on three HOA boards) and commercial property require maintaining a replacement cost reserve of not less than 30%. The general rule for HOAs is \u201cThe percent funded range is as follows: 70% and above = \u201cStrong\u201d and 30% and below = \u201cWeak\u201d. An association with a \u201cStrong\u201d reserve fund has low risk of special assessments and deferred maintenance. The opposite is true for associations with a reserve fund of 30% and below.\u201d<\/div>\n<\/div>\n
\n
Thus, I conclude that a reserve account of $35 billion would be prudent.<\/div>\n<\/div>\n
\n
Taken together, then, an endowment fund of $50 billion and a building replacement reserve of $35 billion is prudent. A similar reserve fund for temples would be prudent. A contingency fund for rapid expansion in less developed nation in Africa, Asia, and South America also seems prudent.<\/div>\n<\/div>\n
\n
A $100 billion reserve fund does seem prudent and not excessive by any means .<\/div>\n<\/div>\n<\/blockquote>\n***
** ***Following my request to share on my blog what he had written, Brother Winmill added the following:<\/p>\n\n "\n
The obvious next criticism is we spend too much on education BYU-Provo, but an awful lot of money goes to what amounts to a substantial scholarship for every member at all Church colleges and a substantial amount is going BYU-Pathway international \u201cfor the perfecting of the saints.\u201d<\/div>\n<\/blockquote>\n<\/div>\n "\n
\n
From a recent Church News<\/em> article<\/a>:<\/div>\n<\/div>\n
\n
\u201cDespite already providing tuition rates significantly lower than other higher education institutions, BYU\u2013Pathway Worldwide announced that it will be extending even greater tuition discounts to more students..<\/div>\n<\/div>\n
\n
\u201cBeginning this fall semester, BYU\u2013Pathway\u2019s Heber J. Grant Tuition Discount will now be extended to BYU\u2013Pathway students pursuing online degrees and certificates from BYU\u2013Idaho and Ensign College.<\/div>\n<\/div>\n
\n
\u201c(The PathwayConnect program is designed to provide students with entry-level, preparatory coursework, including courses in math, English and religion. Afterward, students can work toward a certificate or degree, facilitated through a partnership with Ensign College or BYU-Idaho.)<\/div>\n
\u201cCost is the leading reason people give for not attending college, and many BYU-Pathway students continue to struggle to afford a degree.\u201d<\/div>\n<\/div>\n<\/blockquote>\n***
** ***\u00a0<\/p>\n
<\/a>
The BYU Idaho Center, by D. L. Adams Associates***
(Photo from D. L. Adams Associates)<\/figcaption><\/figure>\n
** \u00a0<\/p>\n
** To the items listed above could be added substantial humanitarian aid and philanthropic activity, support of missionaries, and many other entirely legitimate (and by no means small) expenditures.<\/p>\n
** ***But I close here with links to three very good, because unsensationalized, analyses of Church finances:<\/p>\n\n\u201cPerspective: I teach tax law. This is what I wish reporters understood about church finances: This is a call for higher journalistic inquiry and thoroughness on complicated matters related to tax and religious organizations\u201d<\/a><\/li>\n\u201cThe $100 Billion Question \u2014 A Conversation with Aaron Miller\u201d<\/a><\/li>\n\u201c\u201dMormon\u201d Church: Taxes, Trust, Transparency: Deeper Context\u201d<\/a><\/li>\n<\/ul>\n***
** \u00a0<\/p>\n
** \u00a0<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
** ***\u00a0 \u00a0 I pass on to you a message from my friend Scott Gordon, the president of FAIR LDS, about FAIR\u2019s upcoming virtual conference on \u201cDefending the Book of Mormon,\u201d which will occur on 22-23 September (commemorating the 200th anniversary of the appearance of the angel Moroni to the young Joseph Smith): Join us September […]<\/p>\n","protected":false},"author":1019,"featured_media":29993,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[13324,7119,5231,2905,788,7108],"class_list":["post-101870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-endowment","tag-ensign-peak","tag-finances","tag-latter-day-saint","tag-mormon","tag-wealth"],"yoast_head":"\nMore about "LD$ Inc."<\/title>\n<meta name=\"description\" content=\" I pass on to you a message from my friend Scott Gordon, the president of FAIR LDS, 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