The best illustration of the corporate side of General Authority finances is George Albert Smith, an apostle from 1903 to 1945, and President of the Church from then to his death in 1951. As a member of the Quorum of the Twelve in 1915, for example, he was a director of three church enterprises (Utah Savings and Trust Company, Utah, Home Fire Insurance Company, and ZCMI) for which he received a total of $1,260 in directors fees out of his annual income of $5,088. His allowance from the church in that year was $1,800. This same general proportion continued throughout his service as an apostle, but in the first year of his service as President of the Church his income jumped more than 500%. This increase was a direct result of George Albert Smith’s sudden advancement to corporate positions that were functions of his new role as President of the Church. An undated statement indicates that as President of the Church George Albert Smith’s monthly income of $2,307.85 came from the following sources:

General Authority allowance $650.00

Utah State National Bank 225.00

Zion’s Savings Bank 150.00

U-I Sugar Company 307.85

Beneficial Life Insurance Co. 300.00

Heber J. Grant & Company 150.00

Utah Home Fire Insurance Co. 200.00

Hotel Utah Company 75.00

ZCMI 250.00

Because corporate leadership in church business enterprises by General Authorities was a function of their position in the hierarchy, the opportunities for financial improvement were the highest for the President of the Church, and decreased at subordinate echelons.