I keep seeing people on here (and other places) talk about the wbts making money and that they have loads of it. Who benefits financially from the money the wbts gets? The GB? Who?
Sorry if it should be obvious!
Who benefits from the money they receive?
by unfamiliar 19 Replies latest watchtower beliefs
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unfamiliar
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Bella15
Must be a family or families benefiting through trusts, foundations, etc etc etc. The GB are puppets. These monies are way way way deep into trust of a trust of a trust of a trust of a trust ... I went to a financial seminar once where they explain from a SOLO PROPIETORSHIP, LCCs all the way to family foundations ... it is like a web ... this was even before I have fully discovered the truth about the WT Corporation, but I have visited their offices in NYC, something in my brain went DING DING DING, this is how the Watchtower operates ... I also think that the Fords are behind somehow with the Watchtower ... there is a connection way back ....
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blondie
The WTS and all its corporations, congregations, are run as non-profit religious corporations. No individuals benefit directly.
http://www.irs.gov/Charities-&-Non-Profits/Churches-&-Religious-Organizations
The organization must not be organized or operated for the benefit of private interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence over the organization, an excise tax may be imposed on the person and any organization managers agreeing to the transaction.
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AndDontCallMeShirley
Since the WT never reveals its finances, who benefits may never be known. One thing is known: it is not Jehovah's Witnesses nor any charity.
The money goes only one way: TO Brooklyn. What happens after that is anyone's guess.
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factfinder
I wonder what happens with the money.
They have drastically cut back their printing budget over the past 15, and we all know of the branch closings and consolodations.
So where does all the money go?
They won't even provide a pie chart of how the money is used as other charitable organizations do.
They should be required to do at least that.
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jgnat
I don't think there is any cabal or over-arching sinister beneficiaries to this organization. I think the organization feeds itself. That is, the corporation and its various entities have a life of their own and each part feeds the other.
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jgnat
I agree, factfinder. Here in Canada the WTBTS as a charitable organization, must publish its tax returns. Not so in the United States.
To search charities in the US:
Here's my search result for "Watch Tower", city, Brooklyn: results. Sample EIN, 11-1753577. Now look this up on Charity Navigator, the results.
Trick answer, "not required to report". So they don't.
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AndDontCallMeShirley
Trick answer, "not required to report". So they don't.
WT takes the same approach equally with finances as it does with reporting pedophiles.
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gingerbread
The Watchtower corporation(s) in themselves don't generate an income like an individual does through employment. The corps hold assets such as property and investments. These assets can be converted into cash.
The corps protect the assets and cash. Without these the organization ceases to function.
Like any well managed corporation, the WT finds ways to reduce costs, maintain the strength of it's assets and look for new ways to increase funding.
All funding is given voluntarily to the corportation (branch) by members. The WT corporation has millions of members that give funds and personal assets to them every week as 'donations.'
So, the corporation (branch) benefits from the money received. Of course, the persons in control of the corps spend a lot of money but they never risk the long-term financial health of the Org.
No strings attached. No accountablility.
ginger
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jgnat
Here's one for you. Guess what charitable activity the Canadian branch puts on it's tax return?
1 Missionary organizations, evangelism E2 50% 2 Religious publishing and broadcasting E3 50% Canadian search engine:
http://www.cra-arc.gc.ca/charitylists/
For individual Kingdom Halls, search for "Jehovah". For the over-arching organization, search for "Watch Tower", two words.
Expenditures in Canada, 2012:
Travel and vehicle expenses $ 1,951,327 Interest and bank charges $ 12,147 Licenses, memberships, and dues $ 10,720 Office supplies and expenses $ 379,269 Occupancy costs $ 4,275,571 Professional and consulting fees $ 538,481 Education and training for staff and volunteers $ 49,628 Fair market value of all donated goods used in charitable programs $ 12,375,718 Total cost of all purchased supplies and assets $ 26,663,906 Amortization of capitalized assets $ 2,583,132 Other expenditures not included in the amounts above (excluding gifts to qualified donees) $ 7,101,947 Total expenditures before gifts to qualified donees (add lines 4800 to 4920) $ 55,941,846 Lines 5000 to 5040 represent a breakdown of the expenditures on lines 4800 to 4920. The total of lines 5000 to 5040 should equal line 4950. Total expenditures on charitable programs $ 51,311,418 Total expenditures on management and administration $ 4,630,428 Total amount of gifts made to all qualified donees $ 2,045,845 Total expenditures (add amounts from line 4950 and 5050) $ 57,987,691