For the first time, the whistleblower will speak publicly about revealing the size and use of the Church of Jesus Christ of Latter-Day Saints’ investment portfolio. David Nielsen, a former portfolio manager for the LDS Church’s investment arm, Ensign Peak, blew the whistle on the church’s $100 billion reserve portfolio and misuse of charitable donations. He has never spoken about his experience or told his story publicly, but that’s about to change.
60 Minutes will air a report, including an interview with Nielsen, on Sunday, May 14.
In November 2019, David Nielsen, a former money manager at Ensign Peak, the investment management branch of the Church Of Jesus Christ Of Latter-Day Saints, files a whistleblower complaint with the IRS. Nielsen reveals that Ensign Peak had a $100 billion reserve portfolio from stockpiling charitable donations (given as tithing and other monetary donations by members) rather than using them for charitable purposes—possibly breaching federal tax rules.
The whistleblower complaint accuses LDS Church leaders of misleading members about how their donations are spent. (Members are encouraged to donate 10% of their earnings as tithings to the church to remain in good standing and participate in religious ceremonies and services in its temples.) The complaint also accuses the church of using those tax-exempt...
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