Where does all the money go?

by FaithfulDoubter 30 Replies latest watchtower scandals

  • FaithfulDoubter

    Ok, so, I heard recently that the WTB&TS takes in over a billion dollars in the US alone. That's a lot of cash. And, given how self-sufficient the help is and all, I'm curious if any financial gurus can point out where all the money is going. It seems to me, from my limited vantage point, that the Society is indeed doing the things it says it's doing with the money - support CO's and DO's, building Kingdom Halls, and so on. Is there any evidence of corruption at all?

    And to that, I think the answer is no. But if there were, how would we ever know? I'm curious if there has ever been any embezzling or so on and so forth in the society. My current opinion is probably not, that the people involved honestly, and earnestly believe in what they're doing. If you have evidence to the contrary, I'd be really interested in hearing it.

    (note: I'm not a JW apologist, far from it, just seeking some information here)

  • Mysterious

    They appear to do a lot of investing in stocks and corporations from some of the threads that have been posted here over time. Beyond that I don't know.

  • greendawn

    This issue is a very interesting one and it came up before, the point is that we can never know for sure because the WTS doesn'r release enough information, full financial reports, on its finances and investments. Some indications: alone their headquarter complex in New York was worth $200 million in the 1990's, in 1991 their annual sales stood at $1.25 billion. The New York WTS corporation one of several they own is number 37 in the top 100 private enterprises of that city.

    My feeling is that they make immense profits each year even after they deduct expenses for visiting overseers, missionaries, Bethel staff etc, they make money from their publications, and they are super rich when it comes to real estate most of it donated by their members at some time in the past, and they've also invested in stocks and shares and God knows what else. They are in fact one of the richest corporations in the USA.

    Some people suspect that the WTS is a front organisation for Judeo Masonic interests and that its profits go to them.

    This is a vast multinational corporation. Money is money.

  • Crumpet

    Suing legitimate research sites (quotes.ca.com for instance) and calling it worldwide work!

  • dedpoet

    Some of it goes on defending paedophiles when the law catches up with them (eg the Paul Berry case,$500,000 gone there)

    Then there are all the lawsuits they will have to pay out on as the survivors of abuse take them to court

  • Gill

    There may or may not be corporate embezelling taking place but I'm sure that there are some who liberate cash from the contribution boxes. I only know of two JWs who were removed from their positions for this, (though they got their elderships back in time) but I should imagine it's just as possible all along the cash flow line.

    There have been some very good threads of 'following the money trail'. Someone should be able to point you in the right direction. But the name of James McCabe, a lawyer, seems to be the real control behind the legalisticly obssessed WTBTS now. Perhaps his bank balance would be interesting to have a look at.

  • glitter

    The money *has* to be going somewhere.

    My first instinct was that it is ploughed back into the Organisation, but then I remembered how congregations build their own Kingdom Halls (or not, if they are third-world congregations - but if the *Society* paid for a building, however basic, then they wouldn't be able to use the experiences of these faithful brothers and sisters trekking for miles to the meeting just to have to stand in the sun or sit on the floor) with money *borrowed* with interest and the Socity owns all the buildings even after the debt has been repaid...

  • zagor
    Some people suspect that the WTS is a front organisation for Judeo Masonic interests and that its profits go to them.

    How did you come to that conclusion, is there any evidence of it, I'd love to know?!?!?

  • Dansk

    The money certainly doesn't go to help the starving or destitute. Real estate is where the money goes, so the Socierty gets richer and richer - but it needs to to be able to defend all the law suits that are heading its way!


  • PoppyR
    the Socity owns all the buildings even after the debt has been repaid

    This just struck me! I always hated the begging talks, when we were remodelling our KH so much begging, asking us to search our hearts and see how much we could afford to put in etc.. And then we were loaned money from the society to pay for it which we had to pay back with interest if I recall? And of course when all the money was paid back they still owned the building as well.. that's amazing isn't it..lol.


Share this