Unfortunately, we don't have any way of knowing what their true financial position is. I doubt that even the governing body has a good idea of how they are doing financially. I think it is plausible that they might have much more money than they indicate. Their cost cutting could be just a ploy to encourage donations while keeping expenses low. It might depend on whether the people who handle the money actually believe in the religion. If not, they might be diverting funds elsewhere or hiding money in case the organisation collapses.
On the other hand, their financial position could be much worse than we are led to believe. I could see this being the case if they made bad investments or are making secret settlements to avoid highly publicised lawsuits.
As long as they handle their money wisely, they should be able to meet their modest expenses (considering all the free labor they use) while squeezing the poor publishers for money and enjoying occasional windfalls when they die and name the Watchtower society in their wills. I think they are probably more concerned that the legal climate could change and they will have to face an avalanche of lawsuits. That could bankrupt them.
Those are good points, DT. Thanks.
I forgot about the varioius kinds of lawsuits they contend with constantly. Let's never forget that they obviously have good legal talent whether somehow acquired, maintain at not small expense, or a mix of both.
The governing body is probably too old to care or comprehend what's going on. I think they and a bunch of other older career Bethelites are just hoping for all-expenses-paid retirement whether they are devoted to the religion or not. They really have no place to go so that is motivation enough.
I heard that they do have secret (or perhaps not so secret) stocks and investments. I don't know how those are performing during the economic depression we're in. And if they have more plans for layoffs and real estate sell-offs of other Brooklyn facilities, what they could get for them now is much less than if they sold them off two years ago. But much of it still is prime waterfront and near waterfront property.
And the irony is the WTS should be glad at being victims of their own success. What I mean is that by encouraging the rank and file to give up good paying jobs, higher education to get well paying jobs, and job promotions for better pay in order to be Pioneer part-timers at menial jobs, they have this vast devoted free labor force that can only afford to give WTS menial donations.
But no one really explains that being a Pioneer is an expensive "occupation" that is encouraged by the WTS but not supported by the WTS.
Of course, I feel for those that come up to their retirement years and have nothing to show for it. Or those that need medical or dental attention but have no medical or dental insurance to help them. And other similarly sad situations.
Seems that the only thing that the WTS will give for free is no-blood support. But they will also give you free total cut-off with disfellowshipment if you decide to not follow their "free" no-blood advice. So much reward for so many years of free devoted service!
It's human robbery. So much human robbery at every level it just blows my mind!
I know that what took it over the top for me is when the elders secretly gave the deed of the Kingdom Hall to the WTS. I learned that this is common practice and the congregation is never informed of this. So the congregation brings upon it the mortgage of the property but it is turned-over to the WTS in a secret meeting? That means that in the United States alone the WTS holds the deed to every kingdom hall property. I guess that's a vast real estate block they can loan against when their finances gets critical. What will be interesting is when the WTS can't pay the loan. Does that mean kingdom halls will be liquidated or the rank-and-file is obligated to give the WTS a "bailout"?
As you can see I'm letting my imagination run wild. LOL! But it will be interesting how they play their financial cards and how the rank-and-file will react.
