The LDS Church and Ensign Peak Investments Explained!

This week the Securities Exchange Commission fined the LDS Church and Ensign Peak Investments for apparent mis filings of its holdings.

The Lord has promised those living here in America, “Inasmuch as ye shall keep my commandments ye shall prosper in the land;” (2 Nephi 1:20) The Church of Jesus Christ of Latter-day Saints has become the richest per capita church on the planet. Is this why? Or, is there more to the story—given what just happened with the Securities Exchange Commission (SEC) imposing a $5,000,000 fine on the Church and its holdings (Ensign Peak Investments)? Many are now leaving the Church, as the Church’s financial handlings are being revealed. It reminds me of when many of the early saints left the Church with the collapse of the Kirtland Safety Society.

Statement by the LDS Church

The Church released the following statement on Tuesday, February 21, 2023.

“The Church of Jesus Christ of Latter-day Saints and its affiliated investment manager, Ensign Peak Advisors, Inc., have settled a matter with the Securities and Exchange Commission (SEC).

Investment managers who oversee a portfolio of public equities above a certain threshold are required to file Forms 13F with the SEC quarterly. These forms publicly disclose the names of the securities and their values.

Since 2000, Ensign Peak received and relied upon legal counsel regarding how to comply with its reporting obligations while attempting to maintain the privacy of the portfolio. As a result, Ensign Peak established separate companies (LLCs) that each filed Forms 13F instead of a single aggregated filing. Ensign Peak and the Church believe that all securities required to be reported were included in the filings by the separate companies.

In June 2019, the SEC first expressed concern about Ensign Peak’s reporting approach. Ensign Peak adjusted its approach and began filing a single aggregated report. Since that time, 13 quarterly reports have been filed in full accordance with SEC requirements.

This settlement relates to how the forms were filed previously. Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution.

We affirm our commitment to comply with the law, regret the mistakes made, and now consider this matter closed.”

As I look at the Church’s portfolio, it appears to be about making money, which they have been very successful in doing, and not about principles. I wonder if they had followed Alma’s counsel to his son Helaman, they would have avoided the problems that have arisen, ” Counsel with the Lord in all thy doings, and he will direct thee for good;” (Alma 37:37) We have the great statement from the Prophet Joseph Smith on how he governed  the Church members, “I teach them correct principles and they govern themselves.”

Two Men of Principle

Nathan Eldon Tanner, who was one of our favorite general authorities—brilliant and with impeccable integrity. He had been a member of the Canadian legislature and had a major impact on their infrastructure helping to bring about many improvements. Our youngest son, Nathan, was named after Nathan Eldon Tanner who also demonstrates impeccable integrity.

Tanner was called an Apostle in 1960 and went on to be a counselor in the First Presidency for four different presidents of the Church. During that time, he helped improve the Church’s financial structure, which he was gifted to do.

Nathan Eldon Tanner is a descendant of John Tanner, who joined the Church in 1832.  John also came with wonderful gifts.  John’s conversion, healing, and perfectly timed contributions saved the Kirtland Temple; he used his wealth to build the kingdom and gave the sum of about $50,000 to the Church.

I highly recommend you watch, The John Tanner story on YouTube. The 22-minute video tells his remarkable and inspiring story of “Coming Unto Christ”: “Treasure in Heaven; the John Tanner Story.” John lost all his wealth with the financial crash of the Kirtland Safety Society (KSS) and he was left to beg for bread for his family.

Rather than being bitter and leaving the organization, he accepted a mission call because of his testimony of the gospel of Jesus Christ.  Joseph Smith promised John, “Your children shall never again beg for bread.” We are greatly blessed to this day because of the faithfulness of John Tanner and Nathan Eldon Tanner. Their successes came because of following correct principles and adhering to “The Gospel of Jesus Christ”

What is Happening Now

What is happening now reminds me of what happened when many left the Church after the collapse of the Kirtland Safety Society.  Perhaps we should follow the example of John Tanner, which is to move forward in the gospel of Jesus Christ as he did.  We need to understand the differences between the Church organization and the Kingdom of God, and the gospel of Jesus Christ.

It is Christ, not the Church that saves us. The organization is simply the vehicle to bring us to Christ. Not knowing the differences, I am concerned that many may be “throwing out the baby with the bathwater.” Let us look at the big picture from the Lord’s perspective as best we can and where we are in God’s timetable.

1.  The Church is simply an organized corporation to Interface with the world in its goal to bring souls to Christ.

The organization is an inspired model for all other Christian churches in providing fellowship, a feeling of community, opportunities to serve, learning from one another truths of eternal life, and how to be true Christians.

Because of mortality, the Church is made up of imperfect people helping imperfect people to perfection. And it works, because it is Christ who perfects those who come unto Him (Moroni 10:32-33).

We cannot expect perfection of the Church’s membership or leadership since we are not perfect as well. The only perfect Christian is Christ. Our focus is to trust in the Lord and not the arm of the flesh.

2.  Christ said, His kingdom is not of this world. His kingdom is not the same as the Church. The Lord’s prayer gives us guidance, “Thy kingdom come, thy will be done on earth as it is in heaven.”

The Kingdom of Heaven is perfectly organized. The Lord is asking us to pray so that the Kingdom of God on earth will also be perfect like the Kingdom of Heaven, as we truly come unto Him.

D&C 65:1-6 – Prepare ye the way of the Lord, make his paths straight. The keys of the kingdom of God are committed unto man on the earth, and from thence shall the gospel roll forth unto the ends of the earth, as the stone which is cut out of the mountain without hands shall roll forth, until it has filled the whole earth. Yea, a voice crying—Prepare ye the way of the Lord, prepare ye the supper of the Lamb, make ready for the Bridegroom. Pray unto the Lord, call upon his holy name, and make known his wonderful works among the people. Call upon the Lord, that his kingdom may go forth upon the earth, that the inhabitants thereof may receive it, and be prepared for the days to come, in the which the Son of Man shall come down in heaven, clothed in the brightness of his glory, to meet the kingdom of God which is set up on the earth. Wherefore, may the kingdom of God go forth, that the kingdom of heaven may come, that thou, O God, mayest be glorified in heaven so on earth, that thine enemies may be subdued; for thine is the honor, power and glory, forever and ever. Amen.

The Lord shared through the Prophet Daniel that His Kingdom was to be set up in the latter days, ”and it shall stand forever” “And filled the whole earth.” (Daniel 2:44-45, 33)

Again, the gospel is separate from the Church and from the Kingdom of God, as well. It is best defined in Third Nephi 27:13-22. As Apostle John saw in vision this Everlasting gospel will go to the ends of the earth. (Rev. 14:6-7).

The Lord’s promise is:  For it shall come to pass in that day, that every man shall hear the fulness of the gospel in his own tongue, and in his own language, through those who are ordained unto this power, by the administration of the Comforter, shed forth upon them for the revelation of Jesus Christ. (D&C 90:11)

Mistakes Are Made

Have our Church leaders made some mistakes?  Yes!  They are members of the imperfect human family. I know that while I was serving as a Bishop and Stake President, I made mistakes.  Many wonderful people around me lovingly compensated for errors, and we moved the Lord’s work forward in spite of my weaknesses and mistakes.

It is easy for people to find fault. For us, we should be watchmen on the tower (D&C 101:12) and to treasure up His word that we be not deceived (JS_M 37). It is not our job to fix an imperfect Church. The Lord will do that in His own time (D&C 85:7)

Why I Stay A Member

I enjoy fellowship with the Saints and do my best to use my time and talents to serve Heavenly Father’s children. I cannot do anything about mistakes that may have been made by our Church leaders or their investment advisors. Letting these things bother me, makes me unproductive in things that are much more important—helping to do the work of the Father (Moses 1:39) and helping bring souls to Christ. (John 15:8)

In spite of its imperfections, the Church is the Lord’s. For a person to bail out is short-sighted, because, as I explain in my book, Time & Eternity; the End-Times & Beyond Revealed, the events yet to unfold are greater than anything the world has seen.  A Zion, pure in heart people, will come out of the Church’s membership, who are living celestial lives.
We want to be part of this ideal society that is coming motivated by the pure love of Christ

Our Greatest Opportunity

It is the greatest opportunity in our mortal journey to live and share this “Message of Gladness,” which is the fullness of the gospel. As the Savior so profoundly said, “Herein is my Father glorified, that ye bring for much fruit; then are ye my disciples” (John 15:8) Then are we true disciples of Christ.

Finding fault and creating contention are tools of the devil and are not the way of the Lord. Many are leaving the Church and losing faith because they don’t understand how important their mission is in living and sharing this “message of gladness.”

Circumstances Change Quickly

Regarding the Church, the Lord said to the Prophet Joseph Smith, “lay the foundation of this church, and to bring it forth out of obscurity and out of darkness, the only true and living church upon the face of the whole earth, with which I, the Lord, am well pleased, speaking unto the church collectively and not individually–” (D&C 1:30) Then only ten months later the Lord said,

And your minds in times past have been darkened because of unbelief, and because you have treated lightly the things you have received—Which vanity and unbelief have brought the whole church under condemnation. And this condemnation resteth upon the children of Zion, even all. And they shall remain under this condemnation until they repent and remember the new covenant, even the Book of Mormon and the former commandments which I have given them, not only to say, but to do according to that which I have written—That they may bring forth fruit meet for their Father’s kingdom; otherwise there remaineth a scourge and judgment to be poured out upon the children of Zion. (D&C 84:54-58)

Condemnation Remains

I was in the Tabernacle at General Conference and heard President Benson say that the condemnation has not been lifted. The key then is to do as Moroni counsels the world, as he summarizes the message of “The Everlasting Gospel”.

“Yea, come unto Christ, and be perfected in him, and deny yourselves of all ungodliness; and if ye shall deny yourselves of all ungodliness, and love God with all your might, mind and strength, then is his grace sufficient for you, that by his grace ye may be perfect in Christ; and if by the grace of God ye are perfect in Christ, ye can in nowise deny the power of God. And again, if ye by the grace of God are perfect in Christ, and deny not his power, then are ye sanctified in Christ by the grace of God, through the shedding of the blood of Christ, which is in the covenant of the Father unto the remission of your sins, that ye become holy, without spot.” (Moroni 10:32-33)

We Live in Exciting Times

In looking at the Lord’s timing, as I share in both of my books, we live in that exciting time where the Lord is bringing the FIRST (ISRAEL) to be LAST, as we come to the end of the LAST (GENTILES) becoming first with the restoration.

We will see a ZION—pure in heart people—come forth in this epoch, as the FIRST becomes the LAST. And we can be part of it as we look continually to Christ.

As Zenos shares in his allegory in Jacob Chapter 5:66-67 “For it grieveth me that I should lose the trees of my vineyard; wherefore ye shall clear away the bad according as the good shall grow, that the root and the top may be equal in strength, until the good shall overcome the bad, and the bad be hewn down and cast into the fire, that they cumber not the ground of my vineyard; and thus will I sweep away the bad out of my vineyard. And the branches of the natural tree [true Israelites who have put their hand in the hand of the Lord] will I graft in again into the natural tree;”

Notice, the pruning will be top to bottom. The key is to be Christ-centered — true Israelites–putting our hand in the hand of the Lord! In this epoch, we will see one “Mighty and Strong” “to set in order the house of God.” (D&C 85:7) If things were in order, that would not be needed. Trust in the Lord and not the arm of flesh.

I pray that we may also follow this counsel from Doctrine and Covenants 29:

• 1 Listen to the voice of Jesus Christ, your Redeemer, the Great I AM, whose arm of mercy hath atoned for your sins;
• 2 Who will gather his people even as a hen gathereth her chickens under her wings, even as many as will hearken to my voice and humble themselves before me, and call upon me in mighty prayer.

David W. Allan
[email protected]
Website: https://itsabouttimebook.com/