The Church holds
business interests that are primarily an outgrowth of
enterprises which were begun when the Church was isolated in
the West. The commercial businesses owned by the Church help
serve the needs of the Church in accomplishing its mission.
The money made from these commercial enterprises is
relatively small; the majority of financial resources in the
Church comes from the tithes and offerings of Church
members.
"Essentially, the
business assets which the Church has today are an outgrowth
of enterprises which were begun in the pioneer era of our
history when we were isolated in the valleys of the
mountains of western America. For instance, a newspaper was
then needed to keep the people advised of what was going on
at home and abroad. The result was the Deseret News, which
has been published now for 135 years. In the 1920s,
government officials encouraged newspapers to set up radio
stations. That was in the infancy of the broadcasting
industry. One such radio station was established by the
Deseret News here in Salt Lake City. From that has grown, by
the natural process of development, holdings of a number of
broadcasting properties.
"As all of you
will recognize, the ability and the facilities to
communicate are among our great and constant needs. The
ownership of these properties, both newspaper and
broadcasting facilities, while they are operated as
commercial entities, both directly and indirectly helps us
in our responsibility to communicate our message and our
point of view.
"The Church was a
pioneer in the sugar beet industry to help our farmers who
needed a cash crop. One of our present properties is an
outgrowth of that.
"A beautiful
hotel was constructed adjacent to Temple Square seventy-five
years ago to provide a comfortable hostelry for visitors to
this city.
"Merchandising
interests are an outgrowth of the cooperative movement which
existed among our people in pioneer times. The Church has
maintained certain real estate holdings, particularly those
contiguous to Temple Square, to help preserve the beauty and
the integrity of the core of the city. All of these
commercial properties are tax-paying entities.
". . . The
combined income from all of these business interests is
relatively small and would not keep the work going for
longer than a very brief period" (Gordon B. Hinckley,
"Questions and
Answers," Ensign, Nov. 1985, 49).
