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m Dating maintenance tags: {{Cn}}
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Updated to use the full name of The Church of Jesus Christ of Latter-day Saints.
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{{Short description|For-profit managing company of the LDS Church}} |
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{{Infobox company |
{{Infobox company |
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| name = Deseret Management Corporation |
| name = Deseret Management Corporation |
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| logo = |
| logo = DMC-Logo.svg |
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| logo_size = 250px |
| logo_size = 250px |
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| caption = |
| caption = |
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| type = [[Private company|Private]] |
| type = [[Private company|Private]] |
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| foundation = {{Start date|1966}} |
| foundation = {{Start date and age|1966}} |
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| founder = [[The Church of Jesus Christ of Latter-day Saints]] |
| founder = [[The Church of Jesus Christ of Latter-day Saints]] |
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| location_city = [[Salt Lake City]], [[Utah]] |
| location_city = [[Salt Lake City]], [[Utah]] |
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| location_country = [[United States|USA]] |
| location_country = [[United States|USA]] |
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| key_people = |
| key_people = Jeff Simpson ([[President (corporate title)|President]])<br |
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/>[[Sheri Dew]] ( |
/>[[Sheri Dew]] ([[Chief content officer|CCO]])<br |
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/>Kirby Brown ([[Chief financial officer|CFO]])<br |
/>Kirby Brown ([[Chief financial officer|CFO]])<br |
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/>Gary B. Porter (Senior Vice President) |
/>Gary B. Porter (Senior Vice President)<br |
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/>Aaron Sherinian (Senior Vice President Global Reach)<br |
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/>David Pearce (Senior Vice President and General Counsel) |
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| industry = [[Asset management company]] |
| industry = [[Asset management company]] |
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| services = |
| services = |
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| net_income = |
| net_income = |
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| assets = |
| assets = |
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| owner = [[The Church of Jesus Christ of Latter-day Saints]] |
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| owner = |
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| num_employees = |
| num_employees = |
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| divisions = [[Deseret Digital Media]]<br>Deseret Media Companies<br>KSL Broadcast Division |
| divisions = [[Deseret Digital Media]]<br>Deseret Media Companies<br>KSL Broadcast Division |
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| subsid = [[Beneficial Financial Group]]<br>[[Bonneville International|Bonneville International Corp.]]<br>[[Deseret News]]<br>[[Deseret Book]]<br>[[Hawaii Reserves]]<br>[[Temple Square Hospitality]] |
| subsid = [[Beneficial Financial Group]]<br>[[Bonneville International|Bonneville International Corp.]]<br>[[Deseret News]]<br>[[Deseret Book]]<br>[[Hawaii Reserves]]<br>[[Temple Square Hospitality]] |
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| homepage = |
| homepage = {{website |http://www.deseretmanagement.com/ }} |
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}} |
}} |
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'''Deseret Management Corporation''' (DMC) ({{IPAc-en|audio=en-us-Deseret.ogg|ˌ|d|ɛ|z|ə|ˈ|r|ɛ|t}})<ref>[https://www.churchofjesuschrist.org/study/scriptures/bofm/pronunciation?lang=eng churchofjesuschrist.org: "Book of Mormon Pronunciation Guide"] (retrieved 2012-02-25), [[Wikipedia:IPA for English|IPA]]-ified from «dĕz-a-rĕt´»</ref>isan American operating company, managing select global, for-profit entities affiliated with [[the Church of Jesus Christ of Latter-day Saints]] (LDS Church). It was established in 1966<ref>{{cite web |url=https://www.deseretmanagement.com/#our-mission |title=Our Mission |work=Deseret Management Corporation official website |access-date=2022-03-29}}</ref> by [[President of the Church (LDS Church)|church president]] [[David O. McKay]]<ref>{{cite web |url=http://www.lds.org/churchhistory/presidents/leaders.jsp |archive-url=https://web.archive.org/web/20040705001939/http://www.lds.org/churchhistory/presidents/leaders.jsp |url-status=dead |archive-date=2004-07-05 |title=Presidents of the Church |work=The Church of Jesus Christ of Latter-day Saints official website |access-date=2009-10-25}}</ref> to hold already-existing church media assets.<ref>{{cite web |url=http://www.sltrib.com/business/ci_11629454 |title=Deseret Management hires former LA Times publisher |access-date=2009-02-11 |work=Salt Lake Tribune |date=2009-02-04 |archive-url=https://web.archive.org/web/20090207043226/http://www.sltrib.com/business/ci_11629454 |archive-date=2009-02-07 |url-status=dead }}</ref> DMC companies provide content, services, and information through a diverse portfolio of companies, with the majority being media and communications brands. |
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==Subsidiaries== |
==Subsidiaries== |
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*[[Bonneville International Corporation]]: owns [[radio station]]s nationwide, Bonneville Interactive, and Bonneville Satellite Company. |
*[[Bonneville International Corporation]]: owns [[radio station]]s nationwide, Bonneville Interactive, and Bonneville Satellite Company. |
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*Bonneville Communications (Boncom): Advertising agency. |
*Bonneville Communications (Boncom): Advertising agency. |
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*[[Deseret Book]]: |
*[[Deseret Book]]: publisher of church-related materials and bookstore chain. |
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*Deseret Mutual: Provides medical, dental, life, and disability insurance, retirement and savings benefits to Deseret Management Corporation employees, and health insurance to [[Missionary (LDS Church)|LDS Missionaries]] and [[General authority|General Authorities]].<ref>{{cite web |url=http://www.dmba.com/nsc/dmba/AffiliatedEmployers.aspx |title=Deseret Mutual Participating Employers |author=Deseret Mutual Benefit Administrator |work=Deseret Mutual website |access-date=5 January 2011}}</ref> |
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*[[Deseret News Publishing Company]]: Publishes Utah's second-largest daily newspaper, the ''[[Deseret News]]'', along with the ''[[Church News]]'' and ''El Observador''. |
*[[Deseret News Publishing Company]]: Publishes Utah's second-largest daily newspaper, the ''[[Deseret News]]'', along with the ''[[Church News]]'' and ''El Observador''. |
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| ⚫ | *[[Temple Square Hospitality]]: operates Church-owned [[Downtown (Salt Lake City)|downtown Salt Lake City]] properties such as the [[Lion House (Salt Lake City, Utah)|Lion House]] and the [[Joseph Smith Memorial Building]]. |
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*[[Hawaii Reserves]]: manages commercial and residential properties in [[Lā'ie, Hawai'i]]. |
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| ⚫ | *[[Deseret Digital Media]]: Operates select web sites of other DMC media companies, including ksl.com. |
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| ⚫ | *[[Temple Square Hospitality]]: operates [[Downtown (Salt Lake City)|downtown Salt Lake City]] properties such as the [[Lion House (Salt Lake City, Utah)|Lion House]] and the [[Joseph Smith Memorial Building]]. |
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*The Church of Jesus Christ of Latter-day Saints Foundation: A non-profit foundation that donates the profits of other DMC companies to various charitable causes, both in Utah and internationally.<ref>{{Cite web |last=Hinckley |first=President Gordon B. |title=Why We Do Some of the Things We Do |url=https://www.churchofjesuschrist.org/study/eng/liahona/2000/01/why-we-do-some-of-the-things-we-do |access-date=2024-04-02 |website=www.churchofjesuschrist.org |language=en}}</ref> |
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*[[Utah Property Management Associates]]: [[Real estate]] company which manages apartments and commercial property, particularly in downtown Salt Lake City. |
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==Divisions== |
==Divisions== |
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| ⚫ |
*[[Deseret Digital Media]]: Operates |
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*Deseret Media Companies: Helps operate Deseret Management's media focused subsidiaries. |
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*KSL Broadcast Division: Operates [[KSL-TV]] & [[KSL (radio)|KSL Newsradio]] in Salt Lake City, Utah, for the Bonneville International Corporation. |
*KSL Broadcast Division: Operates [[KSL-TV]] & [[KSL (radio)|KSL Newsradio]] in Salt Lake City, Utah, for the Bonneville International Corporation. |
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==Leadership== |
==Leadership== |
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In November 2023, previous executive Jeff Simpson was selected to replace previous CEO and President, [[Keith B. McMullin]].<ref>{{Cite web |title=KSL, Deseret News, other LDS Church media outlets get a new leader |url=https://www.sltrib.com/news/business/2023/11/18/deseret-management-corp-gets-new/ |access-date=2024-04-02 |website=The Salt Lake Tribune |language=en-US}}</ref> |
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In April 2012, [[Keith B. McMullin]] was named as CEO, replacing [[Mark Willes]].<ref>Fidel, Steve. [https://www.deseret.com/2012/4/5/20405037/deseret-management-corporation-announces-the-retirement-of-ceo-mark-willes-appoints-keith-b-mcmullin#keith-b-mcmullin-is-interviewed-after-being-appointed-as-the-new-ceo-of-deseret-management-corporation-in-salt-lake-city-thursday-april-5-2012 "Deseret Management Corporation announces the retirement of CEO Mark Willes, appoints Keith B. McMullin"], ''[[Deseret News]]'', Utah, 5 April 2012. Retrieved on 22 February 2020.</ref> |
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==Relation to LDS Church== |
==Relation to the LDS Church== |
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DMC is the holding company which owns the tax-paying companies that fall under the umbrella of the LDS Church. |
DMC is the holding company which owns the tax-paying companies that fall under the umbrella of the LDS Church. DMC's Board of Directors may include the Church's [[First Presidency (LDS Church)|First Presidency]], rotating members of the [[Quorum of the Twelve (LDS Church)|Quorum of the Twelve]], and the [[Presiding Bishop (LDS Church)|Presiding Bishopric]].{{cn|date=April 2021}} |
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==See also== |
==See also== |
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==References== |
==References== |
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{{Reflist}} |
{{Reflist}} |
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==External links== |
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*[http://www.deseretmanagement.com/ Deseret Management Corporation site] |
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{{DeseretMgt}} |
{{DeseretMgt}} |
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{{Latter-day Saints}} |
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[[Category:Deseret Management Corporation| ]] |
[[Category:Deseret Management Corporation| ]] |
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[[Category:Companies based in Salt Lake City]] |
[[Category:Companies based in Salt Lake City]] |
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[[Category:Financial services companies established in 1966]] |
[[Category:Financial services companies established in 1966]] |
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[[Category:Properties of |
[[Category:Properties of the Church of Jesus Christ of Latter-day Saints]] |
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[[Category:1966 establishments in Utah]] |
[[Category:1966 establishments in Utah]] |
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| Company type | Private |
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| Industry | Asset management company |
| Founded | 1966; 58 years ago (1966) |
| Founder | The Church of Jesus Christ of Latter-day Saints |
| Headquarters | , |
Key people | Jeff Simpson (President) Sheri Dew (CCO) Kirby Brown (CFO) Gary B. Porter (Senior Vice President) Aaron Sherinian (Senior Vice President Global Reach) David Pearce (Senior Vice President and General Counsel) |
| Owner | The Church of Jesus Christ of Latter-day Saints |
| Divisions | Deseret Digital Media Deseret Media Companies KSL Broadcast Division |
| Subsidiaries | Beneficial Financial Group Bonneville International Corp. Deseret News Deseret Book Hawaii Reserves Temple Square Hospitality |
| Website | www |
Deseret Management Corporation (DMC) (/ˌdɛzəˈrɛt/ ⓘ)[1] is an American operating company, managing select global, for-profit entities affiliated with the Church of Jesus Christ of Latter-day Saints (LDS Church). It was established in 1966[2]bychurch president David O. McKay[3] to hold already-existing church media assets.[4] DMC companies provide content, services, and information through a diverse portfolio of companies, with the majority being media and communications brands.
The following are DMC subsidiaries:
In November 2023, previous executive Jeff Simpson was selected to replace previous CEO and President, Keith B. McMullin.[6]
DMC is the holding company which owns the tax-paying companies that fall under the umbrella of the LDS Church. DMC's Board of Directors may include the Church's First Presidency, rotating members of the Quorum of the Twelve, and the Presiding Bishopric.[citation needed]
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Subsidiaries of Deseret Management Corporation
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| Real Estate |
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| Media |
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| Other |
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