As far as I know the KH is still owned by the local non profit org here in CA USA. There is a clause in the local non profit papers concerning what happens to KH assets if the cong is disolved. After liabilities are taken care of any remaining assets are to be sold and forwarded to the WTS. Last time I looked at the local paperwork was in 2008. No longer an E so things may have changed since.
New Financial Arrangements
The current thrust of the WTBS is foreign- language congregational set-up in the US. In countries where the first lang. isn't Eng. there is a concerted move to preach in the vernacular. English speakers are unceremoniously being thrown into native lang. congregations. Eng. speaking congregations are being disbanded. The printing dept. is being decentralizedand set up in many parts of a country dpending on which region speaks which lang- Africa, China,India and the far East and a few island nations. It appears the "growth" in their numbers is mainly coming from these areas of the globe. Does this involve investment opportunities too?
As far as I know the KH is still owned by the local non profit org here in CA USA.
I was under the impression that they were to put WTS on the Title/Deed.
What you suggest sounds safer for them as far as liability issues.
The non- profit re-vitalization act of 2013 that Haboob48 made us aware of, was signed into law by Governor Cuomo in Dec 24th, 2013, sooo the Watchtower will have to submit a financial report for their NY operations every year to the state of New York. Now the question is: will their NY financial statement be accessible to the public and when?
Thanks Wokeup, the revitalization may have nothing to do with it at all but I thought I would throw it out there. It seems some policies are in their (wts) favor, but may help with transparency. Everything seems to be going through the Attorney Generals office and I even thought of sending the 4 page letter of the new donation arrangement to the AG's office but wasn't sure of the problems it may cause for me? Thanks for posting the links, I am tech challenged.
independant Certified Public Accountant's audit report - wokeup
I wonder just how independent this auditor will be? Will they set a a governtment department for this regulatory body?
Thanks for this information very interesting indeed.
this new pledging arrangement has really struck a nerve with me, just has me infuriated, lots of complaints out there too
I wonder just how independent this auditor will be?
The AICPA has a very strict definition of "independent." Anybody with a financial or other significant interest in the subject of the audit is disqualified from conducting the audit. If caught, they'll loose their license. That penalty is enough to keep almost all CPA's on the straigth and narrow as far as that part goes. Since the Enron mess I believe they have also required that the audit firm cannot provide consulting services to the client.