Many of you refer to WTS as a rich publishing corp. Since the mags they pass out are free I don't understand how they make money from them? Sorry for the dumb question - curious newbie...
I have a dumb question re: publishing corp...
by new22day 23 Replies latest jw experiences
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Tater-T
the people in the congregations pay for them.. its a constant barage of stuff you have to buy..
it's like drugs.. they get you hooked ..then you pay
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new22day
Do you mean members pay out of their own pockets for the mags? Yikes! That's a great deal for the org.
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villagegirl
I believe the "publishers" pay for literature out of their own pocket ? And donations are solicited at the Kingdm Halls ? And all the labor at the factories is unpaid, no workers comp, no salaries, no pensions, no health care. ? And the Watchtower has had a policy of having people donate their houses and land to the "society" or corporation even before they die ? ( I have been out for so long may be someone else can enlarge on this.) 7 million people donating $50 dollars a month is 350 million dollars a month income ? 350 million a month times 12 months is $____ ?? And NO TAXES and add interest.
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2+2=5
Members contribute money, time and free labour in expanding the religion and recruiting new members. The WTS buys land and builds halls with the free labour and money that are donated. The WTS does not make money from literature anymore (hence the downsize of mags) but the literature is supposed to attract new members who will donate time, money and labour. The Society would have a staggering amount of $ in realestate, many many billions of dollars.
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Newly Enlightened
I have a dear friend that knows someone who works in the WTBT$ 'Investment dept' Yep, a big part of their money comes from all their stocks & bonds. He claims they hold, as a few years ago $800 Million US$ in investments. Tax free.
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OnTheWayOut
The mags were not always free. They built a huge publishing company until it looked like the United States was going to consider sales of religious material as taxable in the late 1980's. (I forget the exact date but it was something like 1989 or even later.) Then they switched to mags available at no cost. Since then, they have tried to keep pumping the money out of the members, having them put money in the contribution box before they take the literature out to the public. It cannot, by law, be forced upon the members to contribute. So that hasn't been going as well for them as it did 20 years ago.
They still have their summer conventions where they pump the members for money, but they are in tough times. Still, they are making money at those conventions, or else they would cancel them. They have millions and millions of dollars in Brooklyn, NY real estate and they are slowly selling it off as times get tough. They technically own virtually all of the Kingdom Halls and they do own all their Assembly Halls.
But even in tough economic times, 7 million members still contribute money to them. The people who work for them receive only room-and-board and a stipend for their efforts. Watchtower pays no taxes.
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2+2=5
Finkelstein might chime in soon, he always puts it succinctly.
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frankiespeakin
As all ready mentioned they went from asking for a donation at a set price for the magazine to a complete donation basis to avoid the tax that california was charging for literature for a specific priced donation amount. This has to do with a court case involving Jimmy swagart and the state of california.
This has back fired on them so now they are guilting the congregations to making up the amount based on a price they have set for the literature or else the WT will cut off anymore literature supply. It is all very deceptive and designed to keep from paying taxes.
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Tater-T
(I forget the exact date but it was something like 1989 or even later.)
It had to be before 87 when I was DF'd.. I went the bethel on one of the 2 week, help referbish the Furman building deals( AT YOUR OWN EXPENSE, SUCH AN HONOR).. and at that time someone at bethel told me the asking for cotributions was done away with because of the windfall IBM paid for the meeps program.. t
I was ousted sortly there after... evidently that wasn't true...