The Irish Mormon Church swung out of the red last year after its
members and parent church stumped up an additional €530,000 to support
it.
The church relies on members to keep it afloat financially and Mormon Church rules lay down that members should donate 10% of their income to the church through a tithe.
New accounts for the Irish branch of the Church show that tithing income last year totalled €803,073 — a 17% increase on the €687,112 generated through tithes in 2011.
The church was last year also supported up by a special donation of €414,018 by its parent church, the Corporation of the Presiding Bishop of the Church of Jesus Christ of Latter Day Saints.
In 2011, the Irish branch had provided its parent with a donation of €372,648.
According to the directors’ report attached to the accounts, “church membership grows at a steady rate” and during last year, membership increased by 98 in Ireland, going from 2,915 to 3,013.
Globally, the church’s numbers total around 14 million, with its base in the US.
The tithe is voluntary and is made once a week, and last year the Irish church’s income from all sources almost doubled on 2011’s income, increasing from €782,140 to €1.35m.
The church’s spend last year decreased by 10% from €1.35m to €1.21m.
Members are also not allowed to drink or smoke, and the best known Mormon is defeated US Republication presidential candidate, Mitt Romney.
The Irish church remains in robust financial health, with its reserves increasing from €7.44m to €7.58m last year.
The church’s cash last year increased almost six-fold, increasing from €84,056 to €494,090.
The profit last year takes account of non-cash depreciation costs of €245,979.
The church has no paid ministry and local members fill leadership positions so that ecclesiastical functions in the various congregations are carried out by members on a voluntary basis.
Seven of the church’s 13 properties are owned with a further six leased by the company — at year end, the church was divided into the Dublin Stake that has eight wards and the Limerick District that has five branches.