On yesterday’s blog, I reported that Property Reserve Inc (PRI) transferred a $600K condo to the trust of Apostle Russell Ballard’s wife, Barbara. Some have commented that the $10 exchanged is the standard amount reported in Utah for Special Warranty Deeds. That does seem to be the case. Of course, this could be cleared up if only LDS Inc or even the state of Utah released the financial documents and opened up the books to financial operations within the LDS corporations operating in the state.
Unlike most states which have full-reporting laws about property transactions, commissioners in various counties in Utah have looser rules. They can keep quiet the value for how much land is sold and bought. They can regulate who is allowed to divulge appraisal information. That is, apparently (as I’m told by those working in the industry) the current owner of a property can dictate who you can and who you can’t hire as an appraiser and to whom you can divulge property values. One could speculate that the LDS corporation, which is a major (if not the most significant) private land owner in Utah might have been a considerable influencer in the development of laws about property value reporting, so that it can keep its holdings closer to its sacred heart.
All that aside, another document has surfaced to show that not only is there no value reported for the transaction from PRI to the Ballard trust, but that less than a month after the deed was transferred, several beneficiaries were awarded portions of the value from that previously church-owned condo. Here is the document:
(click on image to expand/zoom in)
Ballard’s trust a month after taking possession took out a $200K equity "loan" and relayed the divided $200K in ownership to six parties. Some of these, such as H & M Murdock, D & M Roper, CR & LS Ballard are likely children or other family. CBB Holdings LTD appears to be owned by Craig B Ballard. TBB Investments appears to be owned by Tamara Ballard. And less clear, Old Oak could be one of a few entities, including Old Oak Properties LLC or Old Oak Family Limited Partnership (Though the latter seems to have expired). Also, as a side note for what it's worth, the article on wikipedia about Russell Ballard reports one of his daughters married into the billionaire Jon Huntsman family.
What I take from this recorder document is, the Ballards received a nice gift and then shared it with the children. This is not a property that the church is letting them just use for now, as a convenient place for them to reside close to church office buildings. This is pure out and out ownership.
Another very interesting tidbit is that, back in 1997, the property where the Gateway Condos stand at present were owned by Marjorie Hinckley, late wife of the late prophet. I haven't unfolded this yet, but I suspect that the original ownership of the land was an LDS corporate entity, and Marjorie was given ownership in the investment properties where eventually the condos were built (and now sold at around $500-600K a pop). What is the deal with apostle's wives getting properties through PRI?
Another very interesting tidbit is that, back in 1997, the property where the Gateway Condos stand at present were owned by Marjorie Hinckley, late wife of the late prophet. I haven't unfolded this yet, but I suspect that the original ownership of the land was an LDS corporate entity, and Marjorie was given ownership in the investment properties where eventually the condos were built (and now sold at around $500-600K a pop). What is the deal with apostle's wives getting properties through PRI?
If one searches the SLC county assessor page for condos at 40 N State St, one will find Property Reserve Inc owns dozens of condos there. It’s not coincidence that the LDS corporation owns and then transfers these to its top executives.
Down the rabbit hole we go. I wonder if we'll ever be able to trace all of this cronyism or if it'll just keep multiplying.
ReplyDeleteMaybe this is how the church ordains women to the priesthood?
ReplyDeleteWell it would make sense for the church to pay for the apostles and such housing. In retrospect, how do you think pastors make a living when all they do is preach is the gospel? (No day job seeing they preach enough times a week to put your vocal chords out.) Tithing to the churches they preach at also goes towards their housing. So, you know, my peeve isn't "Oh my gosh how dare the church help them pay for priesthood leader's housing!" It's more so, "My God, why is the church giving these families more than they need in terms of housing?" So you know... in my book the LDS leadership of the church is doing the same thing the televangelist named Joel Osteen is doing. Just google what his house looks like! No way THAT'S cheap.
ReplyDeleteMy opinion? If I were ever rich, I'd still try my hardest to live inside a modest home. I'd want to live in a home that gives no hint towards fame making me wealthy, living what is a rather average life, because frankly... The happiest people are those who live in small living spaces. Why? Because that's how a family can grow closer relatively easily. And you know, what is it that can make us more happy than the ones we love and take with us out of this life here on Earth?
I'm a few months late to the party and you probably won't see this. That said, the difference between LDS Inc. and other churches is that many of them are transparent about their finances. They release full financial statements detailing exactly how much they receive, from whom, and exactly where it all goes. A local episcopal church that my wife attends discloses how much they pay the pastors (not individually, but as a whole). Thus, the pastors make a reasonable salary and everyone knows exactly what's going on. If you're LDS, this probably sounds really strange.
DeleteCraig Ballard, son of Elder Ballard, also married into a very wealthy Utah establishment family. He married the daughter of multi-millionaire Robert Garff who owns all of the Garff automobile dealerships.
ReplyDelete"The Meek Shall Inherit Multinational "Non-Profit" Corporate Laundered Monies" Great one! Wished I had thought of that quote!
ReplyDeleteWhatever happened to "We have sufficient for our needs?"
ReplyDeleteForget those little flecks of temple movies!
DeleteDavid T. Wow, this whole suject is like a scab for you isn't it? You just pick, pick, pick. You must not have a job and nothing meaningful to do.
ReplyDeleteIt's amazing how much free time you have when you aren't dedicating it all to a cult.
Deleteoutstanding reply David! it seems the desire to believe is more important than the desire for truth, for many LDS people.
DeleteShe is probably the only Saint in her ward.
ReplyDeleteOh, but David T. is still dedicating it to the LDS Church...ha!
ReplyDeleteJust so you understand David T., I think that you have some personal sin in your life, something that makes you very angry with God, and the LDS Faith. So angry that you've made it your life focus to attempt to bring this church down. I think that you, like many people who leave the church, literally fulfill church prophecy by doing exactly what the scriptures state you'll do.
ReplyDeleteI also understand that if you put anything on this earth under a microscope, it will come up imperfect, up to and including the people, and prophets of this church.
I think that for those that believe in God, and those that believe in the church and have the intelligence to understand the full picture, those that realize you can't compartmentalize spiritual life, will never leave the church, EVER!
Everyone has a differing requirement for the credibility of information. The fact that David's is different than yours does not mean he's a person with some horrible, personal sin. Shame on your for speculating. As a faithful member of the church you should know that David's sins are between him and his bishop. You are not in the equation, and frankly, it is inappropriate for you to speculate about the worthiness of anyone else, member or not.
DeleteYour requirement for credibility seems to be so high that anything short of Jesus whispering in your ear that the apostles are corrupt will be insufficient. Frankly, that's dangerous.
With that in mind, I ask you the following question: If you have a testimony of Joseph Smith, the Book of Mormon, Brigham Young, and church history (up to ~1930), what prevents you from believing in the FLDS church? Did you put them under that unfair microscope you refer to in your first paragraph? Or did you give them the same benefit of the doubt you offer the LDS church and pray about it specifically? You know, so that Jesus could whisper "No" in your ear?
Did you just use the word "intelligence" while talking about religion? If you can look straight past facts and say that you are more intelligent than those that do look at the facts, maybe you shouldn't be using the word "intelligence" at all.
ReplyDeleteI cannot express how much this blog and mormonthink has helped me. I just wanted to counter the ignorant attacks you receive from time to time. Those you have helped "awaken" to the LDSINC. Understand what you are trying to do. I appreciate your great courage when it often can't be easy.
ReplyDelete"As a faithful member you should know that David's sins are between him and his bishop"
ReplyDeleteI would argue that David's sins are between him and his God.
I believe the person who posted that comment were being facetious.
Delete
ReplyDeleteAnonymousJuly 12, 2013 at 7:12 PM
Everyone has a differing requirement for the credibility of information. The fact that David's is different than yours does not mean he's a person with some horrible, personal sin. Shame on your for speculating. As a faithful member of the church you should know that David's sins are between him and his bishop. You are not in the equation, and frankly, it is inappropriate for you to speculate about the worthiness of anyone else, member or not.
Your requirement for credibility seems to be so high that anything short of Jesus whispering in your ear that the apostles are corrupt will be insufficient. Frankly, that's dangerous.
With that in mind, I ask you the following question: If you have a testimony of Joseph Smith, the Book of Mormon, Brigham Young, and church history (up to ~1930), what prevents you from believing in the FLDS church? Did you put them under that unfair microscope you refer to in your first paragraph? Or did you give them the same benefit of the doubt you offer the LDS church and pray about it specifically? You know, so that Jesus could whisper "No" in your ear?
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To the person who wrote the crap above, I want to say, "Are you for real?!" But, I suspect you truly are for real. I don't care what sin David T's has committed, and the other writer is correct, that is between him and God, NOT THE BISHOP! The church can ASK that people speak with their bishop regarding their sin, but they can't force anyone to go to the bishop.
In regards to whether or not I believe the apostles are corrupt, you should ask if I care, cause I don't. I don't care, one way or the other.
Oh, and I do believe that Jesus can whisper or testify to you by various means, if that hasn't happened for you, how sad.
I only bring up sin because usually people that leave ANY church, do so because they want to live with the sin, and without the church.
ReplyDeleteYes, that is why you are not buddhist because you are a bambi killer, not because you honestly do not believe! (sarcasm)
Delete> I only bring up sin because usually people that leave ANY church...
DeleteBut we send tens of thousands of missionaries into the world asking people to leave their churches. When they do to join our church you're saying they do it because they're sinners?
People want to live in the sin and without the church?? For real?? Please watch John dehlins video "top 5 reasons and myths why committed Mormons leave the church". This will give you an opportunity to grow in understanding. Attitudes like that help no one.
ReplyDeleteDo you seriously think anyone is going to make a public announcement saying they are leaving any church because they'd rather continue to commit particular sins, than stay in church and give up the sin. Keep in mind I'm not saying people who attend church are sinless, I'm saying some people have a hard time giving up a particular sin, they instead keep committing it.
ReplyDeleteWhat a lame response to defend your false church. The fact that you put it down to sin shows your low level of intellegence and ignorance of your own church's corrupt history even despite the paramount scientific and historical evidence that has proven it is a lie and was indeed made up by an uneducated and very delusional man Joseph Smith.
DeleteMay you one day see the light and start reading a book other than your fictitious ones and set your own arrogance to naught and finally be humble enough to except that mormons are not a superior and sinless people.
To David T., and his multiple personality disorder,
ReplyDeleteI'm well aware of all the, "history," published about the church and its leaders. I'm also aware of all the evidence that counters everything that has been said about this church and its leaders. I still say that people that leave this church, do so because they have some personal sin, or sins that they do not want to work on, that they do not want to see as wrong. I have not said at any point in time that LDS people do not sin, everyone sins. No one is perfect, including the church authorities.
I comment on this blog for anyone that may not know about this church, so that they can know that this blog is full of crap.
In regards to Warren Jeffs, I don't care one wit about him, so why should I ask anything about him?
Anyone who may not know about this church can get an accurate feel for it through your comments. Thank you.
ReplyDeleteAnyone who is not familiar with this church will have an accurate understanding of it through your comments. Thank you!
ReplyDeleteIf I said my name is Jack Williams, would it matter? Why do you need a name, to see if you know who I am? Does that somehow solidify my comments?
ReplyDeleteIn regards to my saying something about multiple personality disorder, I think you are posting as different people. I don't think you have that many people interested in your pages.
I know the apostles don't benefit financially from their callings, just like the apostles of old dropped everything they had. I know this because the still small voice tells me with a burning in my bosom that they are honest men who purchase their homes by their own merit and accord.
ReplyDeleteHas anyone gon to the newspapers with this information? I understand the Salt Lake Tribune is not friendly to the Mormon church. This made public by a savy reporter could embarass the Mormon leaders and wake up some members. Hopefully.
ReplyDeleteHas anyone tried to contact the news media with. this information? I understand the Salt Lake Tribune (I think thats the one) is not so friendly to the Mormon church. Maybe a savy reporter could do an expose and embarass the Mormon leaders and wake up some members. Hopefully.
ReplyDeleteI can confirm that Mr. Ballard does indeed have a son in law with a first initial H. Looks like he just benefited from his marriage into a apostolic family.
ReplyDeleteThe devout Mormon is too scared to think rationally..scared of unravelling years of Mormon Indoctrination. His anger is a sign of truth. If the evidence was totally outlandish, he truly would care and wouldn't respond.
ReplyDeleteMormons are taught to make their religious related decision making by how they feel. Salespeople are taught to appeal to their customer's emotions. Truth and feeling good have no correlation.