Watch Tower Finances

by link 26 Replies latest watchtower scandals

  • link
    link

    Would anyone like to comment on the following observations?

    The very large majority of the JWs that I come into contact with on a regular basis are not wealthy and many have very low incomes, yet they still make substantial contributions to the WBTS every month.

    Why? Because they are firmly lead to believe that it is an organisation that is struggling for its financial survival.

    Following a recent visit from the C.O. my wife returned from the meeting full of doom and gloom regarding the financial picture that the C.O. had painted of the Societies situation. He had told them that the Society was desperate for money to continue printing and distributing the magazines and to build Kingdom Halls and develop "the truth" in the very poorest third world countries. He asked that everyone make every effort to increase their contributions and ensure that everyone who received magazines was aware of the donation arrangement.

    Consequently my wife is now almost begging for donations for them.

    My questions are: has the C.O. painted an accurate picture of the financial circumstances of the Society and, would it be even possible to find out the combined income and expenditure of all the Companies in the Watchtower Group on a world wide basis? Perhaps not.

    I do know that in the U.K. the Charity Commission make the detailed accounts of registered charities available to the public but charge a substantial amount for copies of them. I know that the Societys registered charity "WATCH TOWER BIBLE AND TRACT SOCIETY OF BRITAIN" has an average income well in excess of 15 million pounds per annum and its second charity THE INTERNATIONAL BIBLE STUDENTS ASSOCIATION has an income which is quite similar.

    I do not know how many other charities it operates in the U.K. from Ridgeway in London neither do I have any details of income and expenditure for the operation of its American Companies:

    • Watchtower Bible and Tract Society of New York Inc.
      * Watchtower Bible and Tract Society of Pennsylvania Inc.
      * Watchtower Enterprises LLC.
      * Watchtower Foundation Inc.
      * Watchtower Associates LTD.
      * Kingdom Support Services Inc.
      * Christian Congregation of Jehovah's Witnesses.
      * Religious Order of Jehovah's Witnesses.
      * The Watchtower Group Inc.

    Although I do know that the turnover in the U.S.A. is reputed to be in the order of one billion dollars.

    Other countries must operate on similar incomes dependent on size of country.

    What is the purpose of all this? What an I saying here?

    A very large number of Witnesses on low incomes believe that their organisation is similarly hard pressed. They believe that the money they struggle to give to the Society is used to finance the building of structures like Kingdom Halls. They are not aware that the Society loans the money and it has to be repaid. They are not aware of the level of income of the Society has, either locally or world wide, nor the value of its property and investments.

    If all this information could be gathered together and presented in a simple to understand format I believe that many Witnesses would walk away from it in disgust.

    In my not insignificant experience, matters like failed prophecy and paedophiles are like water off a ducks back to them but new and accurate light on the financial structure of their organisation would have very real meaning to many of them who I know personally.

    Any ideas or comments?

    link

  • Debz
    Debz

    Brilliant idea Link!!

    I would like to see some sort of research done into the `real` value and assets they hold.....although my parents would never walk for any other reason - money would sway them I believe...alas I have no ideas I`m afraod I`ve been out too long to know the first way to handle such a feat!...

  • Gizmo
    Gizmo

    I found the documents on The Australian Security and Investment Commision Site, however these are just documents that must be lodged, by every registered company, there is no actual financial disclosure.

    Would love to know how to get that info, I'll keep looking maybe I'll get lucky? Suggestions would be much appreciated.

    Extracted from ASIC's database at 23:07:14 on 31/01/2003

    Name WATCHTOWER BIBLE & TRACT SOCIETY OF AUSTRALIA
    ACN
    002 861 225
    ABN
    42 002 861 225

    These are the documents most recently received by ASIC from this organisation. Page numbers are shown if processing is complete and the document is available for purchase.
    Received Number Pages Description
    02/01/2003 018334943 Not Imaged 388A (FR 2002) Financial Report Financial Report - Public Company or Disclosing Entity
    02/01/2003 00286122M 3 316 (AR 2002) Annual Return Change to Officeholders
    316J Annual Return - Company Holds S383 Licence or Similar Type
    OF COMPANY
    10/01/2002 017716269 18 388A (FR 2001) Financial Report Financial Report - Public Company or Disclosing Entity
    10/01/2002 00286122L 3 316J (AR 2001) Annual Return - Company Holds S383 Licence or Similar Type of Company
    02/01/2001 016840675 16 388A (FR 2000) Financial Report Financial Report - Public Company or Disclosing Entity
    02/01/2001 00286122K 3 316J (AR 2000) Annual Return - Company Holds S383 Licence or Similar Type of Company
    31/12/1999 016087648 15 388A (FR 1999) Financial Report Financial Report - Public Company or Disclosing Entity
    31/12/1999 00286122J 3 316J (AR 1999) Annual Return - Company Holds S383 Licence or Similar Type of Company
    23/12/1998 00286122I 16 316J (AR 1998) Annual Return - Company Holds S383 Licence Or
    30/12/1997 00286122H 16 316J (AR 1997) Annual Return - Company Holds S383 Licence Or
    06/01/1997 00286122G 16 316J (AR 1996) Annual Return - Company Holds S383 Licence Or
    09/01/1996 00286122F 14 316J (AR 1995) Annual Return - Company Holds S383 Licence Or
    20/01/1995 00286122E 14 316J (AR 1994) Annual Return - Company Holds S383 Licence Or
    27/06/1994 007514254 2 304A Notification of Change to Officeholders of Australian Company
    04/01/1994 00286122D 14 316J (AR 1993) Annual Return - Company Holds S383 Licence or Similar Type of Company
    28/01/1993 00286122C 13 316J (AR 1992) Annual Return - Company Holds S383 Licence Or
    23/01/1992 00286122B 13 316 (AR 1991) Annual Return Corrections
    316J Annual Return - Company Holds S383 Licence or Similar Type
    OF COMPANY
    15/01/1991 0286122A 15 316 (AR 1990) Annual Return
    316J Annual Return - Company Holds S383 Licence or Similar Type
    OF COMPANY
    END OF LIST

    Information available at a price I imagine

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    • Organisation search: (current and historical details): organisation details, registered addresses, roles in organisation, share structure, shareholders, charges, documents and annual returns lodged
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    This is a .pdf file showing charges for services, but I don't think, it includes finacial reports, maybe some of the more corporate minded people can have a look and determine.

    http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/search_fees.pdf/$file/search_fees.pdf

    Edited by - Gizmo on 31 January 2003 7:37:21

  • acsot
    acsot

    During the "local needs" part at our hall this week, finances was the topic. "Give more, it's for Jehovah, he blesses us, we'll never lack anything if we put kingdom interests first" - it was sickening. Ironically, it was the day after the "Fifth Estate" program detailing child abuse within the WTS and the litigation that ensued - hmmm, is there a connection?

    I'd love to find out details of their finances, but how??

  • expatbrit
  • Gerard
    Gerard

    Don't forget to list their "Sister Companies":

  • expatbrit
  • belbab
    belbab

    We have known for a long time that the WT has been playing the stock market. Where have they placed the money. We know that the stock market has taken a big dive. Has the WT lost a lot of money?

    There is a thread that discussed this in 2001 at: http://www.jehovahs-witness.com/forum/thread.aspx?id=9596&site=3

    If you go there compare those posts with this thread, I would like to see this subject brought to the forefront again.

    belbab

  • expatbrit
  • expatbrit

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