The church has not released church-wide financial statements since 1959, but in 1997, Time magazine called it one of the world's wealthiest churches per capita.
The church receives significant funds from tithes (ten percent of a member's income) and fast offerings (money given to the church to assist individuals in need). According to the church, tithing and fast offering moneys collected are devoted to ecclesiastical purposes and not used in for-profit ventures. However membership income distributions do rank among the lowest of any religious group in the United States [[1]].
The church has also invested in for-profit business and real estate ventures such as Bonneville International, Deseret Book Company, and cattle ranches in Utah, Florida, and Canada. However, these ranches are split between Church Welfare Work (Bishops' Storehouse and Welfare Square) for which funds are used from tithing and are not for profit. On June 9, 2010, California Progress Report and CBS-News, reported The Church of Jesus Christ of Latter-day Saints to be the first religious organization to be fined for political malfeasance in California. On June 10, 2010, the Fair Political Practices Commission (FPPC) of California fined The Church of Jesus Christ of Latter-day Saints for failing to “timely report making non-monetary contributions totaling $36,928 in connection with the November 4, 2008 General Election”[106] in connection with Proposition 8. California Government Code Section 84203 requires that non-monetary contributions be reported on a daily basis.[107] The commission's enforcement included levying a 15% punitive fine against the LDS Church totaling $5,539. The church reported all contributions but failed to report them on a daily basis. In a statement the church said, “In the last two weeks leading up to the election, the Church mistakenly overlooked the daily reporting requirement for non-monetary contributions and instead reported those contributions together in a later filing.”[108]