Why did the org "forgive" KH mortgages?

by Magnum 22 Replies latest watchtower scandals

  • the comet
    the comet
    I think the whole change was about consistent cash flow. The congregations that didn't have a loan weren't donating a ton of money, and it varied from month to month. It would spike after a part on the service meeting about donating, guilt people into giving, then after awhile people would give less. With the new change you know exactly how much money you're getting every month. Why "forgive" the loans? Because the loans had an end date. The new arrangement doesn't. Its just much easier to plan buying/building stuff when you know what your income is every month. There's no guessing game at corporate HQ, you know what you're getting every month.
  • Finkelstein

    Could this have come about in the questioning reality of the WTS asking for property Tittles handed over to the organization, rather than have the Tittles owned and named by private Trusties within each individual congregation?

    Knowing by the congregation that all the new renovation work to their Hall would eventually increasing the value of the property now owned by the WTS ?

  • Finkelstein

    The Comet explanation is most likely.

    If all congregations were sending a set amount it would be easier for the WTS. financial department to make up future flow charts on receivables, based on projections.


    Why did the org "forgive" KH mortgages?

    ..........................The WBT$ Found a New Way..

    .....................TO SCREW JEHOVAHS WITNESSES..


  • ducatijoe
    Dodd-Frank mortgage rules went into effect in 2014
  • joe134cd
    I honestly believe the WTBTS should of (at the very least) been a bit more clearer in explaining the new funding arrangement. This has now given the impression to the R&F that the organization is in a stable financial position. One could be forgiven for believing " why else would they delete the mortgages unless they could afford to do so". So hence the need to reiterate on jw broadcasting begging for money. This move has come back to bit them and I say "GOOD BLOODY JOB"!! The issue isn't one of been a flush with cash and real estate but that of long term solvency, and this is where I believe the money is going.

    Well, I think it's related to their charity status. I can't say for sure, but my INTP powers make me suspect it's a "charity" thing.

    At the "historic" RC, Gerrit Loesch gave an extremely boring speech. One thing stood out because it was so out of character for JWIsm. Guess what it was??? CHARITY talk... He was saying how important it was.

    Never in all my years have I heard a GB member say a dang thing about charity, not in the context he used. Sure, they talk about helping one another and "disaster relief", but they NEVER talk about performing charity in an open ended fashion that could be construed as applying to "worldly" people.

    What better point in time could JWs look back to as "proof" of the GB's "spirit direction" than the first ever "historic" RC!?!?! It can be Loesch's legacy! Sure he ditched his court appearance, but he was so in touch with the Holy Spirit that he started JWs performing charity work!


  • wallsofjericho
    I think all repair and maintenance costs are taken as tax free donations by the WTS but are then "written off" by the WTS as expenses
  • Oubliette

    If I have a business that lends money, I have to report it as business income.

    No. Only the interest earned on the loaned money is income.

    I don't believe the WTBTS was charging interest. Was it?

    If so, can someone document that?

    If not, there there is another motive.

  • prologos

    they traded fixed term mortgage loans for de facto annuities. payments for life, Life of gb, after their rapture followed by OS helper/given ones. Only the money part will pan out.

    The fact that WTBtS does not come clean on the reason why, is reason enough to never trust them with any money again.

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