In another thread it was indicated that the WTS was loaning money to a Lawyer to invest in a grape-wine orchard in Cal. somewhere. You will find that thread in "The Best OF"
Where does all the money go?
by FaithfulDoubter 30 Replies latest watchtower scandals
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FairMind
I've thought quite a bit about "where does the money go?” Certainly no one in the WTS is living the life of the rich and famous because of the donations to the WTS or the WTS' investments. I have come to the conclusion that they behave like many elderly people do in that they have plenty of money, are accumulating more wealth but do nothing beyond what they have to with it. This is a real shame because Jesus taught that we should use our material possessions in a way that glorifies GOD.
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wannaexit
This is my uneducated guess:
The money is used to accumulate real estate. At last years summer assembly it was brought out that the assets of the kingdom are not only spiritual but also earthly. These earthly assets would include buildings and branches around the world.
wanna
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hamsterbait
I'd like to know if Da Judge ensured that his wife and son were well provided for along with their heirs.
In which case I strongly suspect there is a mansion somewhere with some very rich people sipping champagne and laughing over how gullible folks are.
Unfortunately the WBTS is so good at hiding its tracks we will never know.#
HB
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Gerard
Atta boy!
Who do the WT Corporation MUST report its earnings? To the IRS
Note the difference between Church and Religious Organization. And n ote that the WT don't HAVE to give anything to the poor; According to the IRS:
The term charitable is used in its generally accepted legal sense and includes relief of the poor, the distressed, or the underprivileged; advancement of religion; advancement of education or science; erection or maintenance of public buildings, monuments, or works; lessening the burdens of government; lessening of neighborhood tensions; elimination of prejudice and discrimination; defense of human and civil rights secured by law; and combating community deterioration and juvenile delinquency.
But, by law, the WT will lose their tax-exempt status if one proves they have indulged in:
Inurement and Private Benefit (PDF document, see page #5). That is, none of the earnings of the organization may inure to any private shareholder or individual.
They have 3 charitable entities registered with the IRS. Search all three:
Gods Watchtower of Prayer Inc. Brooklyn NY USA -- Watchtower Bible and Tract Society of New York Inc.
Brooklyn NY USA 1 Watchtower Ministries Inc. (Until September 200)
Marietta GA USA -- HOW?
Generally, tax-exempt organizations must file an annual information return ( Form 990 or Form 990-EZ ).
The rest is done by comparisons and simple math.
- IRS Electronic Search tips: http://www.irs.gov/help/search_help.html
- FAQs About the Exempt Organization Public Disclosure Requirements:
http://www.irs.gov/charities/article/0,,id=96430,00.html
- Q: If an organization makes it documents "widely available" must it make the documents available for public inspection?
- A: Yes. Making documents widely available satisfies the requirement to provide copies of the documents. This requirement is separate from the requirement to make the documents available for public inspection. There is no exception (similar to the widely available exception) from the requirement to make documents available for public inspection.
- What are the penalties for failure to comply with the disclosure requirements, and who must pay them?
- Responsible persons of a tax-exempt organization who fail to provide the documents as required may be subject to a penalty of $20 per day for as long as the failure continues. There is a maximum penalty of $10,000 for each failure to provide a copy of an annual information return. There is no maximum penalty for the failure to provide a copy of an exemption application.
Trace this and you knock off their money machine and, very likely the Feds will take them to court on criminal charges.
Find this, and you'll topple the Ivory Tower; And hopefully will catch a couple of big enchiladas running with money bags.
Note it is important you don't post it here before the IRS knows about it in no uncertain terms:
(http://www.irs.gov/compliance/index.html)
Gerard
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Gerard
I almost forgot:
http://www.irs.gov/charities/article/0,,id=135033,00.html
FOLLOW THE MONEYHow can one get a copy of an organization's exemption application or annual information return from the IRS? To request a copy of either the exemption application or the annual information return, submit Form 4506-A, Request for Public Inspection or Copy of Exempt Organization IRS Form. Mail the form to the applicable address listed below: IF you want... THEN mail Form 4506-A to... A copy of an exemption application Internal Revenue Service
Customer Service - TE/GE
P.O. Box 2508, Room 2023
Cincinnati, OH 45201A copy of a return, report, or notice Internal Revenue Service
P.O. Box 9941, Stop 6716
Ogden, UT 84409You may also purchase copies of scanned Forms 990, 990-EZ for IRC section 501(c)(3) organizations, and all 990-PF returns on CD-Rom from the Ogden Submission Processing Center.
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TallTexan
This is an interesting question, and should anyone ever be able to truly document the answer, I'd love to see it. However, that will probably not happen any time soon. As with most scams, they hide the money trail well by using such convaluted ideas as the loan on a KH that they will still own, even though the congregation pays it back.
They do invest, because as all good business owners know, it takes money to make it. The WT is VERY smart though, because one of the most expensive business needs - advertising - is done for free by idiots like we used to be...lol. They have very low overhead because most of the congregations take care of themselves - their labor is volunteer (they provide room and board), and they pay no taxes.
They sell a product that has a built-in consumer base (the congregation publishers) who will pay for the product, then peddle it to others, and then turn around and send THAT money back to the society as a 'donation'. They can sell a product twice, tax-free. Tell me another company that can do that!!!!! Even if there is no real interest in their publications, the congregation publishers probably purchase enough to at least break even. Then, the publishers make donations to the world-wide work, which is just icing on the cake. Then, the society takes the 'donations' and invests them in stocks, real-estate, bonds - just like any other corporation would do. They give back a fraction in the form of care for CO's, DO's, special pioneers, etc.
Their 'franchises' (local congregations) receive a loan to build a KH. They repay the loan, but the Society still owns the property.
And it goes on and on. If I were writing a business plan for the WTS, no one would believe that it were possible. Yet, there it is, happening every day. I don't know whether to admire them or despise them...oh, wait...I despise them...I forgot.
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greendawn
Zagor the best evidence comes from a letter presented by a Swiss in a case he was involved against the JWs in the 1920's, in that letter the American Jewish masons clearly mention that they were funding Rutherford and the JWs because they were very useful to them. The JWs lost that case.
Perhaps you heard of it, I found the letter on a French site and I have it stored somewhere in my computer. It clearly shows a connection between the WTS and the Judeo Masons and let's not forget Russell was strongly pro zionist.
We don't know to what extend the Jews financed the dubs before or after that time (especially in the 1940's when Knorr greatly expanded the WTS at a time when there were only 100 000 JWs) and to what extend the dubs are indebted to them.
I also strongly suspect that the expulsion of virtually all JWs from the New Covenent of Christ and His relegation by them to a mere king of jehovah are due to Jewish influences. Russell had a much better regard for Jesus than Rutherford and Knorr/Franz. -
Frannie Banannie
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.
Even more amazing than this is the fact that the money that the WTS "loans" to the congs. for KH building (with interest for a time) is money that WAS CONTRIBUTED by the CONGS in the FIRST place!!! And no one calls 'em on it.
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Gerard
I'd love to see it. However, that will probably not happen any time soon. As with most scams, they hide the money trail well [...]
It is true they have become experts at dodging taxes, but all we need at this point is to prove that SOME money has been used to benefit one individual within the corporation. Beth Sarim mansion comes to mind.
Take a look at aircraft and yatch ownership and rental, expensive housing, travel expenses, vine farms, etc.
Money does not evaporate, it gets transferred, and one must know how to read its trail.
To follow the money you must ask the right questions.