Hi Gerry,
Thanks for the article.
Seems like you like ferreting out the facts behind the org. Following needs some exposure for the world to see. Perhaps you have allready dug into it. Keith
As you know there have been major changes at WT HQ during the last
few years. I want to know why.
1st the Gov. body resigned and a number of new entities were
created. Obviously the GB did not control the operation or pull the
strings or they would not have all resigned at once and the changes
would have been made by them. It would be them who made the changes
if necessary, not managment people from below.
Someone forced them into it, it is obvious it was not their choice
to make.
According to Daniel Sydik of the GB there are over 100 other
entities (corporations) associated with the WTBTS that control all
the properties and activities worldwide.
As you may well know it is a private corporation, in 1944 an ammendment
was made to the charter to limit the voting shares to 500. By doing
this the 337 voting shares that are voted on by proxy every year
have total financial and managment control of the org. What I want
to know is, who is or who are these voting people?
From what I can learn these shares have been passed on down from the
original financers Russell had in the beginning. By keeping total
control over the org they are litterally the owners of a multi
billion $ buisness. So far they have managed to remain secret.
Because of Russells sympathy for the Masons and his use of Masonic
buildings for meetings etc. in the early days it is suspected they
(wealthy Masons, could be one or more) financed him and are in control of the whole thing
in the background today. Doesn't that give you a chilling thought?
From the outside it looks by the breaking up of the org they are
trying to limit financial risk with lawsuits etc to their assettes.
Every JW who donates his time and money to the org should want to
know who is in control. It is believed that none of the proxy
voting members are JW's. Do you really know where your money goes
that you donate? Who controls the finances? Can you trust an
organization who is controled by non JW's and unbelievers with your
money and spiritual direction?
I need help to put this puzzle together,
Keith
Now here are some figures.
A few financial figures that happen to have fallen into my sweaty
palms. While only a small piece of the WT's financial jigsaw puzzle,
they effectively illustrate the level of $ under the society's
control.
Watchtower Bible and Tract Society of Pennsylvania
Pensylvania Reg. # 11-1857820
Year Ended August 31, 1998
BALANCE SHEET...............................1998 / 1997
Assets
Cash and short-term investments........$296,522,535 / 209,383,368
Current receivables......................10,849,287 / 7,078,760
Long-term receivables...................277,421,320 / 267,435,970
Property and equipment..................120,697,680 / 120,547,679
TOTAL ...................................705,130,822 / 604,445,777
Liabilities
Accounts payable & accrued liabilities...$2,414,924 / 794,524
Conditional donations.....................7,489,654 / 8,743,636
Long-term payables.......................61,002,396 / 37,503,266
TOTAL LIABILITIES........................70,906,974 / 47,041,426
NET ASSETS.............................$634,223,848 / 604,445,777
COMBINED STATEMENT OF REVENUES AND CHANGES IN NET ASSETS
Revenues
Donations................................47,443,713 / 54,722,984
Interest.................................24,925,594 / 20,504,081
Kingdom Hall Assistance Fund..............3,218,791 / 3,900,595
Royalties, Rent and Other.................3,519,062 / 2,928,113
TOTAL REVENUES...........................79,107,160 / 82,055,773
Expenses
Kingdom Hall Assistance ...................2,123,945 / 2,485,514
Relief Fund..................................21,182 / 170,507
Convention Fund.................................430 / 0
Administrative Services.....................142,106 / 14,304
TOTAL EXPENSES............................2,287,663 / 2,670,325
CHANGE IN NET ASSETS.....................76,819,497 / 79,385,448
Net Assets At Beginning of Period.......557,404,351 / 469,616,477
Prior period adjustment...........................0 / 8,402,426
NET ASSETS AT END OF PERIOD............$634,223,848 / 557,404,351