"The wts has billions." If it came down to distributing wts assets, who would get all the money and property?
Who owns the wts?
by Fisherman 10 Replies latest jw friends
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Quirky1
If I could I would sell it off and give it to charity.
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The Lone Ranger
No one person or persons own the WTS, but the GB do control it. If one member of the GB dicides to leave then he also loose's his control of any assets.
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jaydee
Remind me to register as a charity won't you...
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heathen
of course jehovah owns it ,you silly person you
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garybuss
You wrote: If it came down to distributing wts assets, who would get all the money and property?
The assets have been distributed already. -
Homerovah the Almighty
The owner of this book publishing company is Jehovah, and all assets will forwarded to the Jehovah First National Bank in heaven
Jesus is the President and CEO
Who knew that god could be such a thriving commodity $$$ !
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Indo_Dude
No one gets to cash out like that. There are very strict rules about non-profit incorporations.
Nonprofit corporations cannot be sold. If the corporation's directors decide to dissolve it, all debts and obligations must be satisfied, and assets must be distributed to another tax-exempt nonprofit corporation.
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yknot
Where there is a will there is a legal loophole....
Nonprofit corporations cannot be sold. If the corporation's directors decide to dissolve it, all debts and obligations must be satisfied, and assets must be distributed to another tax-exempt nonprofit corporation.
All it would take is some trusted non-directors to setup a couple dummy non-profits in countries with laxer laws.
It would be just as easy to move WTS HQ to another country with such lax laws, the selling of US properties would absorb back into the organization.
Loopholes, always look for the loopholes.
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heathen
exactly right , they can move their cash assets just like other corporations have done to avoid taxation ,I guess it's only taxable if it's in the US banks by the US government. Don't forget that jehovah always approves of when they do something crooked but hates it when anybody else does .