It is true that with the new arrangement the WTS attempted to double dip, asking the publishers to pay for the magazines and then get the donations from the field as well. However, it has not been working that way, many publishers do not pay for the magazines and their have been complaints that collections are down. People that once would have paid for a hardback bible starting ordering what they perceived as free leather bound bibles. That is why the WTS has started to make their books out of cheaper materials, smaller and in softcover.
Where does WT get their money for its operation?
by ukescott 16 Replies latest watchtower beliefs
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cyberdyne systems 101
I have heard it suggested that if the donations (by the publishers and from the field) are not enough to cover what was received by the congregation, then the congregation itself will make up the shortfall. Perhaps a current or ex Elder can shed some light on what happens in that circumstance.
CS 101
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dedpoet
When I was an ms, I was encouraged by the secretary to donate by means of a Deed of Covenant, by which the wts could claim tax back on my donations. This isn't illegal, of course, and quite a few in the cong, including myself until I walked away in 1999, did this. I was also encouraged to make a will naming the society as a beneficiary. I thought about doing that, but didn't do it, though I know a few in my cong who did.
It seems when it comes to raising money, almost anything goes for the wts. I well remember on the last afternoon of every assembly I attended, an elder would announce the income from that assembly, and the expenditure. Though the wts owned the assembly hall, there would always be a huge deficit announced, followed by an appeal for the bros to give generously, which many, myself included until the last couple I attended, did. Thinking back, it's difficult to understand why there was always such a huge deficit, as the wts owned the hall, and there was no food service, so the only conclusion one can come to is that it was a bogus figure designed to squeeze extra ££ out of the people there, and it always worked, and probably still does.
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diamondblue1974
The last time I looked WBT$ was worth 951million on the New York Stock Exchange
The WTBTS isnt listed on the NY stock exchange though is it?
Isnt its status charitable?
DB74
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Hackman
I think that the revenue $951,000,000 is seen on the Forbes list where WTS is number 40.
Hackman
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Hackman
I have just looked for the article about the Watch Towers revenue in 2003. The article is no longer on the Newsday.com where it was published some time ago.
For those of you who read French, there is a note here: http://www.brooklyntower.com/page12.htm There is also a note about the Watch Towers shares in a weaponproducing company (Rand Cam Engine Corp.) - even though they are against weapons. I've also heard that the own shares from Phillip Morris - even though the are against tobacco. But as they say in the article: Money is money.
Yes - the are claiming that they are charitable - but in fact, the Watch Tower is a pyramid company. The company has all the characteristics - except that the 'salesmen' in the lower levels don't get paid for finding new customers.
Hackman
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Hackman
Hi jwfacts
I can see that you are well informed about the economy. Maybe you can tell me how the WT can gets around the contradiction that they claim to be a filantropic organisation (and free of paying taxes), and at the same time is a real hardcore business that's making a lot of money?
I will anticipate that from a certain level and upwards, the leadership is working for normal salaries. In our country, the witnesses are trying to give the impression that there is no one on the payroll, everyone from top to bottom in both national and international parts of the organisation is said to be working without any wages (other than they get paid for expenses and maybe a small fee). I don't believe this. It's not possible to run a big organisation without an educated and skilled leadership - and that will cost a lot of money.
Someone here mentioned that the WT organisation has 100+ lawyers on the payroll - this alone will cost a fortune (if they are supposed to be good). Or just think of their financial department (dealing with stocks etc.) - or the real estate department (managing thousands of building) - or the worlds largest printing house (producing close to 25 million magazines per month). They must have huge budgets.
I know that the lower levels of the internal workforce is only paid with a 'raincheck' (that they will live through the Harmageddon), but I don't think they can pay the higher levels or the leadership with that.
I hope someone can clear this up.
Have a nice day everybody