David Nielsen Wiki
David Nielsen is the former Mormon investment manager who became the whistleblower and filed a complaint with the Internal Revenue Service, claiming the Church of Jesus Christ of Latter-day Saints has stockpiled billions of dollars in surplus funds instead of using them for charitable purposes, The Washington Post reports.
He was a former portfolio manager for the church’s nonprofit investment arm Ensign Peak Advisors, with the help of his brother Lars Nielsen, who spoke with and provided supporting documents to The Post.
“In a declaration signed under penalty of perjury, Nielsen urges the IRS to strip the nonprofit of its tax-exempt status and alleges that Ensign could owe billions in taxes,” The Post reports. “He is seeking a reward from the IRS, which offers whistleblowers a cut of unpaid taxes that it recovers.”
According to The Post’s report, the complaint states that the church collects about $7 billion each year in tithing funds — contributions from members who are instructed to give 10 percent of their income.
The Post states that about $6 billion is used to cover annual operating costs, and the complaint claims that about $1 billion is transferred to Ensign, and some of that is invested.
Nielsen has asked for the IRS to strip the church of its tax-exempt status and is looking for a cut of the back-taxes allegedly owed by the church. The IRS typically offers rewards for whistleblowers. Ensign Peak Advisors is based in Salt Lake City, close to the Mormon church’s headquarters.
David Nielsen Career
Curently, he is a Co-Founder at Ultralink Inc and it was founded in 2012 with the mission to explore, improve and innovate linking technology. According to the website “Hyperlinks can easily break or become stale. They can be tedious to the author and you can’t use too many of them. Ultralinks can supplement and even replace hyperlinks in many different scenarios.”
“We provide a variety of consumer, enterprise and developer solutions including browser extensions, site plugins, standalone server software, database hosting, and a robust REST API. In addition to our products, we provide enterprise-level integration and customization to meet the specific needs of large organizations.”
Furthermore, David founded CMG Marketing while attending BYU, later graduating magna cum laude in Finance from the Marriott School. He also holds an MBA from UCLA Anderson. David cut his teeth as a Portfolio Associate for a Manhattan-based hedge fund, The D. E. Shaw Group, and is a Portfolio Manager for Ensign Peak Advisors.
David Nielsen Wife
David Nielsen is married to Karly and this couple also shares children. According to her LinkedIn page, Karly is also a graduate of Brigham Young University.