I just got hold of the WTS Aust branch 2005 Financial Report

by jwfacts 49 Replies latest watchtower scandals

  • jwfacts

    As mentioned in another thread, the Watchtower Bible & Tract Society of Australia is refusing to give me my personal records, though I believe they are supposed to under the Aust Privacy Act. They claim to not be under the legislation, which exempts businesses with less than 3 million turnover.

    Anyway, I purchased their Financial Report that is lodged with ASIC to find out what the turnover is ($16million). As i had to pay for it it is probably illegal under copyright to post the entire 22 pages, so I will list some of the figures that i found interesting.

    None of the Directors have shares or received any benefits.

    "The company was party to any (court) proceedings during the year" That is because I can't afford to start proceedings

    The Auditor is a JW Is that a contravention of independance requirements?

    REVENUE $16,434,005. Interest accounted for $348,970 Donations account for $15,523,039, and are up $2.2 million from 2004 That is probably all the deceased estates as all the oldies die off


    Evangalizing $1.6 million, Teaching $2.4 million, bethel serices $1.9 million, admin services $8.4 million (a note explains that this is sent to overseas branches), plus a couple of other things amounting to a total of $15,718,104

    SURPLUS $715,901

    NET ASSETS $14,401,454

    TOTAL ASSETS $30,545,850

    With all that money guess how much went to charity work?

    "Shepherding (hospital information, legal support, humanitarian relief work)" $1,391

    Cash and short term investments (money market instruments - maturing within 90 days $5,922,333

    With $6 million sitting in the bank there should be a talk that no more donations are necessary for the next couple of years.

    It appears the Aust branch received charity status in 2001, so now is tax exempt as a charitable entity.

    Another thing i did not know is that they have are a licensed as a travel agency trading as Watchtower Travel, and sold (to themselves ) $580,000 dollars worth of tickets. So that is the cost of having Bethelites speaking at conventions each year in Australia.

  • Dr Jekyll
    Dr Jekyll


    Au dollars or US?

    TOTAL ASSETS $30,545,850

    With all that money guess how much went to charity work?

    "Shepherding (hospital information, legal support, humanitarian relief work)" $1,391

    That is totally disgusting, you should send a copy to the press

  • heretic

    Nice work, keep it up.

    My old man says theres alot of speculation by apostates at how much the society has and its all malicious lies. Bit hard to speculate when you got the report. man, why wouldnt they sponsor a few pioneer petrol dollars, you hear so many stories of pioneers doing it tough and having to rely on Jah to get their next meal, when there is a coupla mil just sitting there... BAAHHH

  • why144000


    I have been keeping the Australian branch financial records for about 10 years. The way they change money around is a gem. Once they made a large mistake with their accounts as one year they said that one hundred thousand dollar error was made with watchtower travel that was eventually corrected. Plenty of money was made with the international conventions a couple of years back. This went through the Watchtower travel branch of the Australian branch.. I have a heap of financial info that I could send if people are interested.

  • jwfacts

    Dr Jeckyll, these are in Australian dollars, but it is still worth a lot, we are not quite a third world country.

    why144000, another Aussie? For the last 10 years there has been no growth in publishers, have the donations been constant, rising or falling? Are you able to post the figures for each year?

  • ozziepost
    I have a heap of financial info that I could send if people are interested.

    So have I !

  • moggy lover
    moggy lover

    Hmmm, Lets seee now...... What was that to "charity"? $1,391? [hospital support, legal support, humanitarian relief] I suppose their breakdown went something like: Legal support: $1,390, Hospital support: $ 0.50c Humanitarian: $0.50c [I mean we don't want to get too carried away with helping the needy do we? The buggers will always be with us] To paraphrase Marie Antoinette: "let them eat the Watchtower!"

    Why144000 - Sure I am certain we all can do with this vital info. Can you post it on JWD Forum or is it illegal?

    Ripper post, jwf


  • Frog

    fabulous jwf! how do i purchase a copy of the financial report from ASIC? I suppose scanning or copying it breaches it breaches copyright...i might have to google it. I think it's a great idea to keep these on record. Seeing these things (ie, the lack of charity, especially to their own) in black & white might help to go some way toward driving home the inconsistences of the WT way. thanks for this thread :) x

  • wombat

    Does the $30 mill assets include all the KH's? Or are they owned by the local cong.

    Wow..I'm in a Carer's Pension and my donations to humanitarian relief work (Medecine sans Frontiers) were about half of what a church with over $16 mill revenue gave.

  • greendawn

    There are always little loopholes in tax laws that allow corporations to save money on tax by moving around money from one of their pockets into another, I can't understand how they don't lose their charitable status with that derisory donation they make for "charitable" purposes. In addition we can never be sure that the books haven't been cooked not just with them but with any business.

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