LATEST BIG RUMOR: WTS calls a moratorium on ALL KH construction in US & Canada

by sir82 47 Replies latest jw friends

  • Homerovah the Almighty
    Homerovah the Almighty

    There are some obvious observations to their growth as a religion in a whole, such as the regeneration aspect,

    My sister whose still attends says that there are hardly any young people in her hall, 75% are over 50 or so,

    the elderly and some getting on baby boomers, quite a change to what it was like back in the 60's and 70's.

    Less people contributing to the literature or buying as it were.

    So they may very well have a cash flow problem in regarding available loans for renovation or building projects.

  • BabaYaga
    BabaYaga
    Marjorie said: My congregation was shrinking because they're refusing to multiply/dying off.

    Exactly... and they don't have retirement funds, either, so the donations aren't anything like they used to be!!!!

  • jws
    jws

    A rumor doesn't make it true, but if this is what's happening, the economy is probably the cause.

    Like any other lending institution, I'm sure they're being hit by failure of KH's to pay their mortgages.

    Congregations in several places are downsizing into fewer KH's for the area, leaving behind real estate to be sold. (If a building's empty and unused, is it still exempt from taxes)?

    Obviously having money tied up in loans doesn't keep it liquid.

    But if it is the economic downturn, why only the US and Canada? I thought this was being felt other places too?

    Question:

    I was under the impression that the KH became the property of the WTBS after it was built. So it's built with local funds and/or borrowed funds, then given to them as a gift when it's done? And people may still be paying them for the Kingdom Hall they gave to them? So the WTBS not only gets a free piece of real estate, they may make a little money on the interest too, right?

  • sir82
    sir82

    I think some Kingdom Halls may be deeded over to the Society, but a lot of them are held in trust.

    The Society used to charge 3% interest on loans, but about a year ago they stopped charging any interest at all. No explanation was given.

  • Mickey mouse
    Mickey mouse
    It seems that while the vast majority of the rank and file don't know exactly how the RBC works and most buy into whatever they suggest, some elders on the RBC are starting to see things that don't quite jive and are speaking up. Of course, it does no good to use independant thinking in a cult, so you can surmise what happens to anyone who speaks up against the Society or the RBC...

    Can you elaborate on this undercover?

    Thanks.

  • BurnTheShips
    BurnTheShips

    This news here along with the closing printing operations in Europe.

    Looks like they are having a real hard time lately.

    BTS

  • yknot
    yknot

    I sure hope this is true......cuz I don't wanna build nothing in my area (though technically we have the attendance (not donations or loyalty) to garner a 'need').

    Then again this is a perfect time to buy real estate and then flip it later when the market improves.......

  • Midget-Sasquatch
    Midget-Sasquatch

    Make what you want of this info too. Where I live there used to be up to 6 english speaking congregations (and the usual foreign language ones like Italian, French and Spanish). There were 3 Kingdom Halls in one city. One pathetically small, one that was huge and that location was sweet but the building itself showing its age, and finally another one that was okay and had alot of land (rather cruddy location though). The congregation that attended the run down hall has the more afluent members of all dubs in the city. But the RBC pretty much convinced them not to renovate/fix their old building but to sell it off and move into the one where I'm still officially a member. That KH has alot of land and it was originally designed such that a second hall could be easily added on to it. But the RBC even nixed that idea of the addition. They would not let ANY new building go forward. Even renovations wouldn't have they're OK until they were sure that the necessary funds were raised by the congregations. That wasn't a problem since the one congregation could easily put in a quarter of what they made selling off the other property. The remainder is given to the WTBTS on a interest free loan basis to which they could always ask the money back. Fat chance of that happening though if no new building is permitted.

  • Billy the Ex-Bethelite
    Billy the Ex-Bethelite

    jws asked: Congregations in several places are downsizing into fewer KH's for the area, leaving behind real estate to be sold. (If a building's empty and unused, is it still exempt from taxes)?

    Local laws will vary, but in the US, as long as it's owned by the registered non-profit and not generating income, it wouldn't be taxed. However, most of the same maintenance expenses on unused property will continue. Some heating, repairs, lawncare, etc. will continue until a buyer is found. A nearby Hall was put up for sale since the cong shrank and couldn't pay the bills, even with help from neighboring congs. Still unsold after nearly a year on the market now.

    Now that some time has passed with the economy, I see what the situation is locally. There are enough that have lived frugally, saved, donated regularly, and will continue to do so, keeping the local congregation afloat. But don't expect them to cough up any extra now. However, quite a few are showing that they have been spending every cent they ever earned... and then some. While they used to donate fairly generously, and live quite comfortably, now they're feeling the pinch. Their income has gone down, and their credit is at the limit. So, are they going to lower their standard of living in order to continue to donate generously? Nope. The lifestyle is what really comes first. Jehovah can pay his own bills.

    It will be interesting to hear if there are any subliminal messages in the District Crapvention this summer. Perhaps the drama will be something like... "First Century Fundraising to Support the Jerusalem Governing Body" The fictitious plot will have Paul commanding all the Christian "publishers" to sell all their homes and stuff, including the expensive books on witchcraft, and sending the money to Ted, Gerrit, Guy, and all the rest of the fictional first century "Governing Body".

    B the X

  • stillajwexelder
    stillajwexelder

    even real estate assets have shrunk in value due to the market collapse. Of course, if they hold on long enough, these will climb back in value over time

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