Where does all the money go?

by Coded Logic 14 Replies latest watchtower beliefs

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  Coded Logic

  Some recent posts on this site have really got me thinking. The Kingdom Halls are all paid for by their congregations - as are the assemblies and the conventions (none of it comes out of the WTBTS pocket). Every single assembly and convention I have ever been to there is always a surplus of money that is sent back to the Society. And the Society has recently pilfered the savings from local KHs.

  The WTBTS has also sold off 10s of millions of dollars of its properties (over a 100 million by some estimates). And they are spending a fraction on printing and distribution of literature compared to 10 or even 5 years ago. The have also closed dozens of branches, greatly decreased their salaried work force, and even gotten rid of District Overseers.

  All of this makes me realize the Society has very little in overhead costs. All their properties have been paid off for decades. What are they doing with all the money in donations, savings, and property sales that they are accumulating?

  This makes me think one of two possibilities is likely.

  1. They are planning on making a huge purchase in the next year or two. Though what that purchase could be I have no idea.

  2. They really thought the end was going to happen last decade and have made bad financial decisions (coupled with the recession) and are now desperately trying to dig themselves out of a hole.

  Maybe just my optimism is getting the better of me, but is it just possible the WTBTS is in worse shape than any of us realize? Five years ago I don’t think any of us thought the WTBTS foot print would shrink as much as it has ove the past couple of years. Maybe the Society is closer to bankruptcy than any of us realize. If they were, it would be just like them to keep on acting like everything is just fine.

  Anyone have any thoughts on this?

  P.S. I know the WTBTS makes it seem like they finance building KHs in third world countries but, everything I've researched thus far, shows even those JWs have to cover their own KH construction costs. And their choice of construction materials often reflect this.
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  joe134cd

  Issues with cash flow problems. YES!!!

  Bankrupt. FAR FROM IT!!! They have got more money to outlive me.
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  sparrowdown

  Well, we know where the money is'nt going.

  To the poor and disadvantaged.
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  Paralipomenon

  Invested, then the interest used to fund expenses. If they get enough investment income to offset their expenses, they are golden for survivability untill the market crashes again.
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  smiddy

  I wouldnt be a bit surprised if sometime in the foreseeable future we hear of somebody syphoning away millions of dollars into some offshore bank account for their own use .

  It wouldnt be the first time a witness has got his hands on the societys funds and it wont be the last.

  If you think JW`s are squeaky clean , google crimes comitted by jehovahs witnesses , it covers everything from deception to murders by active members.

  smiddy
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  The Searcher

  A long-time trustworthy source revealed to me last year when I met up with him, that a member of the Britain Branch Committee had confided a couple of years earlier that the Org had serious financial problems, but that they'd overcome them.

  In hindsight, that dovetails perfectly with the radical and unheard of cost cutting in publications, the mega sell-off of HQ & Branch properties, redundancies of full-time Witnesses, (Bethelites & D.O.'s) and especially the unprecedented worldwide tithing of Witnesses!

  If it looks like a duck,....................................................
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  abbasgreta

  I wonder how much they have paid to buy the silence of possibly hundreds of paedophile victims.
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  L3G

  A long-time trustworthy source revealed to me last year when I met up with him, that a member of the Britain Branch Committee had confided a couple of years earlier that the Org had serious financial problems, but that they'd overcome them

  How in the world could this have come about? Had they invested lots of $$ with Bernie Madoff or what? Is it not more likely that this committee member has been given a line? Or that he's been told to deftily put this sort of message out so that more contributions flow in?

  Forgive my skepticism---too many years of seeing shady behavior within the borg... It's hard to rebuild trust.
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  joe134cd

  I had a friend who was in the Brooklyn bethel. I asked her directly if there were financial concerns. Although she wasn't able to give me any solid facts and figures. She did confirm that these rumors where floating around and she was certainly aware of it. Another interesting comment she made was that that the society was very asset rich and was trying to utilize these assets.
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  WTWizard

  They are after more than your money. They want you poor, and they are wrapping up a destitution working for the flock. The recent donation arrangement and pledges instills a sense of perennial debt--how dare you be comfortable if the washtowel is in debt.

  Now, it would not surprise me a bit if they start a sexual repression working in the next few months. Already they want those who are not well off financially to not marry--and, if you are, you are not doing enough for joke-hova. I would expect to see a series of articles in an upcoming Kool-Aid detailing that marriage is only for those who do not have the self-control, then saying that those lacking this self-control are not eligible to marry. This could well wrap up with pious-sneering to take your focus off the sex life you do not have. Obviously, they do not need this for their own financial well being. I expect them to come down hard on this issue about the time the dollar becomes toilet paper, or shortly before or after.