Watch Tower Corporation Listed Top Forty Revenue-Generating Companies in New York City, Reporting an Annual Revenue of About 951 Million US Dollars (page 2)

Gopher

Watchtower followers don't understand that their corporation is mainly interested in protecting and increasing its financial (not spiritual) assets. They have just enough religion to maintain a veneer of "righteousness". A lot of money moves around into the Watchtower Society and into investments and real estate.

I've noticed that the Watchtower has since 2001 been very protective of its financial figures. To my knowledge, no facts like this $951 million in annual revenue has been leaked since 2001. I suspect two things: (1) They've gotten wiser about letting out any such truthful information that could potentially be used by their adversaries, and (2) they are still making a lot of revenue which they don't want their people or potential litigants (such as those who bring child-abuse cases) to know about.

frankiespeakin

Gopher,

I think by law a non profit must post that info on thier web site.

If you are looking for information about a nonprofit, you'll find few better sources than its Internal Revenue Service (IRS) Form 990. This form is an informational tax return, filed annually with the IRS. Form 990 includes information on the organization's mission and programs; if it engages in political lobbying; names of board members, officers, key staff and their compensation; donor contributions; and how the nonprofit's budget was applied. The IRS requires charities to make copies of their 990 publicly available. The IRS lacks a searchable database, but the forms can be found on several Internet sites.

- 1
  Check the website of the nonprofit to see if it has its Form 990 available for viewing. Many charities don't post 990s on their websites. For those that do, forms likely will be in Adobe® Portable Document Format (PDF), which allows you to save and print copies. If you do not have Adobe® Reader, you can download it for free at the Adobe® website. If the form isn't on the charity's website, your next visit should be to an online searchable database of Forms 990.
- 2
  Go to GuideStar.org, which has approximately two million nonprofits in its database, and Form 990s scanned directly from the IRS. The information is free, but you'll need to register, which requires just a few simple steps. Then, type in the nonprofit's name in GuideStar's search bar. A list of nonprofits matching or closely resembling the name you've typed in, and locations, will appear; click on the name of the nonprofit you're looking for. The next web page will give you more information about the organization and will provide links to its most recent 990s. Again, you will need Adobe® Reader to see the files.
- 3
  Search the "990 Finder" at the website of the Foundation Center, an organization that researches grant-making trends. The finder can be accessed without registration or fees, and the forms are also scanned directly from the IRS. You can search here with slightly fewer steps than on the GuideStar site. The foundation's site allows searches by organization name, organization employer identification number, or filing year. The forms are also in PDF.

IRS Tax Guide for Churches and Religious organization(PDF):

http://www.irs.gov/pub/irs-pdf/p1828.pdf

dropoffyourkeylee

I have not read the links provided, but I find it hard to believe that 951M per year would put the WT organization in the top 40... nowhere near it

Gopher

I find it hard to believe that 951M per year would put the WT organization in the top 40... nowhere near it

And yet it is true, they made the revenue top 40 in New York City that year. Newsday reported it:

http://web.archive.org/web/20041011041523/http://www.newsday.com/business/printedition/ny-cvtop52369349sep17.story?coll=ny%2Dbusiness%2Dprint

frankiespeakin

http://www.irs.gov/uac/Whistleblower-Informant-Award

Who can get an award?

The IRS may pay awards to people who provide specific and credible information to the IRS if the information results in the collection of taxes, penalties, interest or other amounts from the noncompliant taxpayer.

The IRS is looking for solid information, not an “educated guess” or unsupported speculation. We are also looking for a significant Federal tax issue - this is not a program for resolving personal problems or disputes about a business relationship.

What are the rules for getting an award?

The law provides for two types of awards. If the taxes, penalties, interest and other amounts in dispute exceed $2 million, and a few other qualifications are met, the IRS will pay 15 percent to 30 percent of the amount collected. If the case deals with an individual, his or her annual gross income must be more than $200,000. If the whistleblower disagrees with the outcome of the claim, he or she can appeal to the Tax Court. These rules are found at Internal Revenue Code IRC Section 7623(b) - Whistleblower Rules.

frankiespeakin

Gopher I clicked your link it doesn't say anything about the WT. I'm haveing a problem backing up the wiki claim for 2001.

dropoffyourkeylee

Thanks gopher,

The 951M in 2001 equates to roughly 1.23 billion in today's dollars, due to inflation. I still would not have believed that would put it in the top 40 of a major financial center like New York. wow

Gopher

Hey Frankiespeakin,

Look again. It's there below the listing for "S.F. Holdings Group" and above the one for 'www.dtcc.com'.

It says this:

Watchtower Bible & Tract Society of New York

25 Columbia Heights, Brooklyn, 11201

718-560-5000

www.jw-media.org

Revenue: $951 million

Industry: Publishing

President: Milton Henshel

Employees: 3,415

It takes a lot of printing to supply more than 6 million Jehovah's Witnesses with the materials for their ministry. One publication, Watchtower, now has an average print run of 23 million copies twice per month, an increase of 7.5 percent over last year.

"Our report for the year is different from a Wall Street company," said vice president George Couch. Indeed, the company's employees are volunteers who live and work in the Brooklyn complex.

Depository Trust and Clearing Corp.

55 Water St., New York, 10041

212-855-1000

frankiespeakin

Thanks Gopher I found it.

Well I think with all the money they save if they will go all electronic in the future and printing will be a thing of the past which will call for a different business plan and model and for more restructuring to maintain finacial stability.

Rocky roads ahead for the corporation's survival.

Fading Begins

I counted down and have them in #23 position, which would make them in the top 25. Has anybody else counted down to see where they are?

Watch Tower Corporation Listed Top Forty Revenue-Generating Companies in New York City, Reporting an Annual Revenue of About 951 Million US Dollars

Who can get an award?

What are the rules for getting an award?

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