...then check this out!

(Of course the Society has $billions in real estate, but many have speculated that they are low on cash for day-day operations).

Unfortunately I don't have a working scanner, but here is a summary of & a few quotations from a BOE letter dated March 1, 2008:

"For an number of years, an arrangement has been available to congregations to place funds on deposit with the branch office. However, a recent analysis shows that only 10 percent of congregations in the United States are taking advantage of this provision."

(Some congregations have no-interest checking, or are even charged a fee for checking...others have a savings account, but earn little interest)

"...At best though, each congregation acting on its own will only achieve a limited return on its excess funds. Therefore, we are encouraging all congregations to give serious thought to participating in the funds-on-deposit arrangement with the branch office."

"There are significant advantags to participating in this arrangement. First of all, each congregation would only need to operate one checking account for its monthly financial activity. Congregations would not have worry about opening savings or other accounts and becoming involved in investment decisions. Second, by consolidating funds, the branch office is able to earn additional interest at rates above what a congregation normally earns by acting on its own. The funds earned by the branch office would then be available for use in building Kingdom Halls in lands with limited resources or for covering other necessary operating expenses. All of this is accomplished by making full use of funds that have already been contributed but now may be idle, earning little or no interest." (emphasis added)

(details follow on how to set this up electronically, via www.jw.org)

(Program is also vailable for operating committee funds, where 2 or more congregations share a Kingdom Hall)

A couple of pages of Q&A follow. Of most interest is no. 2:

"Question 2: If we currently have a checking account for our monthly expenses and a savings account for our excess funds, do we have to close the savings account and send those funds to the branch office? What if we prefer to keep the interest for local congregation needs?"

"Answer: You are to be commended for making wise use of funds dedicated for Kingdom interests. While we leave the decsion to the local body of elders, we encourage all to look beyond local circumstances. There are congregations in other lands where greater material needs than we have here inthe United States. By applying the Scriptural principle found at 2 Corinthinas 8:8-15, we hope to achieve an equalizing for the entire brotherhood. At best, a local congregation will only be able to earn interest at the local rate. The branch office has access to higher rates of interest because of volume and pricing, and by consolidating any excess funds into the funds-on-deposit arrangement, more interest can be generated collectively to benefit the worldwide work." (empahasis added)

(Other Q&A covers mechanical details, depositing the money, getting it back in case of need, etc.)

So there you have it. Instead of earning interest at a local bank, deposit your $$$ with the Society, who will then invest it in [whatever], earn interest that the Society keeps for itself, and if you ever need the money, say, years down the road, we'll cheerfully return whatever principal you donated.

Comments? Mine later, tired of typing!

Wow ....I wonder what  the local hall here will do ?   The hall is paid for and a local sister has left them a good sum of money over the years , so I am sure their savings account is healthy . My bet is that they will keep it local .

 Don't all halls still have the additional contribution box for the World Wide Work ?  Society is getting greedy .....more than usual that is  

Don't you just love how they spin things around to make it look like it's for the local congregation's good?

They should just sell their prime real estate and move to Kansas or something.  They are sitting on BILLIONS and still taking everything they can get from under educated, under-employed, rank and file witnesses.  It's sickening.

It's been awhile since I was in a KH but don't they have separate boxs for their voluntary donations?  1.  World Wide Work 2. Local Hall Needs   3.  Kingdom Hall Building Funds

It's a scam and the blind don't even know it.

Someone just posted that he was going to be elevated to Elder status.  (Hint:  We really need a scan of this letter)

The local congregation here already did this.

An old lady died and left all of her money to the congregation.  It was something like £100,000.  The congregation gave it to the society for safe keeping - for this very reason.  Its been in place a while but they must be pushing for more now.

Sirona

OMG!! I just thought of something...A future scenario...The wtbts requests that ALL contributions, on the local level, be made out to the wtbts. The wtbts then doles out on an individual needs basis the money's required by the local cong for their operating expenses. No more need for the BOE to have ANY hands on that money that comes through the contribution boxes.

Total and ABSOLUTE control of all $$$ that are made to available to THE MINISTRY.

Total centralization of $$$ and abuse by the wtbts.

NMG

If they can persuade 6000000 humans to contibribute an extra $10 a month to help out where the need is greater they have $72000000 in a year alone!

peanuts for them with all their seductive mind control!

Whats the next step? ill tell you, the congregations that dont make enough contributions to clear their bills will then be disbanded, their halls sold and the congregations consolidated untill they turn a profit.

When a cong buys or builds a hall who owns it? we know the answer to that, the society owns it but the local brothers pays for it. at any time they can disolve that cong and sell off its assets. they claim the money will go where the need is greater...... thats just a smoke screen to remove the possiblility of asking where it goes.

you imagine that your contributions are helping those in need somewhere in the world.... fact is they rarely make it out of new york.

its a shame but hopefully blatant stuff like this will open the eyes of more witnesses and cause them to get the hell outta dodge.