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June 2022 Financial Update

31 May 2022

The Presiding Bishopric has released the June 2022 Financial Update. In this update, you’ll find important information about mission tithes, Bridge of Hope Tithes, and ongoing efforts to fund services and ministries.

A few highlights:

  • Thanks to the generosity of many, Worldwide Mission Tithes in 2021 totaled $12,850,000, exceeding the goal range.
  • As of 31 December 2021, the church had raised $96.9 million toward the $120 million Bridge of Hope retirement responsibility goal.
  • Investment account minimum balances in place to meet the Bridge of Hope retirement responsibility were reduced in many fields based on progress as of 30 April 2022 toward achieving the retirement responsibility target. The Central and South America field and the Presiding Bishopric have exceeded their targets. This is good news as these additional funds will be needed to offset the amount over the $120 million needed to fully fund the retirement responsibility.
  • World Church leaders continue to explore ways to fund services and worldwide ministries including charging fees for services and resources and growing the endowments.
  • Mission Tithes are the primary way mission is funded both locally and globally. Connecting with contributors under the age of 50 remains a priority.
  • On 26 May 2022, the World Church Finance Board approved the 2023 Worldwide Mission Budget assumptions for 2023 budget planning.
  • The church continues to support humanitarian efforts in Ukraine and the surrounding area and is holding funds to help re-establish households when it is safe for members to return. You can help through eTithing.

Read the entire financial update.

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