The link is not working for me.
https://docs.zoho.com/sheet/published.do?rid=740aq85115d1a04174c4d867e056351ad6836
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Canada Branch Financials are Posted (The Bleeding Appears Very Real)
by berrygerry 37 Replies latest watchtower beliefs
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berrygerry
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Londo111
Hmm...it might be a firewall problem on my end.
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JeffT
Where did these numbers come from? This isn't an actual financial statement, its a spreadsheet. Without the notes its useless.
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Incognito
Strange, although my phone and computer show the entire spreadsheet, my tablet does not. The tablet only shows 'Revenue 4500' downward. If you are reviewing the spreadsheet on a tablet or phone, you may wish to confirm you are viewing the entire thing. Column C should be headed "2009".
I agree with JeffT as anyone can create a spreadsheet and show any numbers. There is nothing to substantiate this as being created by WT Canada and there are no notes to define what is included in the figures on each line.
Even if this spreadsheet is authentic, WT has created a number of corporations over the years so this spreadsheet likely pertains to only one. While we continue to refer to it as Watchtower, we might be astounded at how many corporations are registered separately, at arm's length from WT, for the benefit of protection of assets. I have seen prior documents online which suggest WT (referring to the head) play a shell game with assets, donating them among various benefactor corporations, all under arm's length control of WT.
While line #4870 refers to Education and Training for Staff and Volunteers, there is no similar line indicating expenses paid for employee or volunteer stipends so as to identify and compare those expenses specifically.
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berrygerry
Where did these numbers come from? This isn't an actual financial statement, its a spreadsheet. Without the notes its useless.
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JeffT
Without a lot of research, for which I don't have time; we still don't know what's in a lot of those numbers. They list $55,000,000 in "other liabilities." Who do they owe this money too, I suspect its other Watchtower corporations, where it would be listed as an asset. I used to work for an international real estate investment company that had all sorts of interlocking separate corporations. One of my jobs was making sure everything evened out.
They also list an expense line for $60,000,000 for "supplies and other purchased assets." That's a lot of supplies. Again we don't know who they paid the money to, or for what.
I'm not arguing in favor of any position on the Watchtower's financial status. We don't have the information needed to formulate a proper analysis.
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venus
That means JWs are also following the spirit of worldly governments (whom they describe as tools of Satan) who thrive on deficit budget setting a harmful example for the followers: "Spend more than income, and get into the spree of borrowing."
Look at the shocking number of governments:
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notsurewheretogo
Slim...when the WT is still here in 5, 10 years at what point will you accept you were wrong?
Whilst I believe they have money issues in no way do I believe that money will bring them down.
To quote The Matrix: "There are levels of survival we are prepared to accept."
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berrygerry
They list $55,000,000 in "other liabilities." Who do they owe this money too, I suspect its other Watchtower corporations, where it would be listed as an asset.
They also list an expense line for $60,000,000 for "supplies and other purchased assets." That's a lot of supplies. Again we don't know who they paid the money to, or for what.Both of those lines are very steady. (Most would be shocked if Watch Tower DIDN'T funnel money from country to country.) Line 4330 is quite constant - between 48 million and 57.5 million over a SEVEN-YEAR period.
Likewise, line 4891 is not too remarkable - between 39 million and 63 million over five years. (Where or how the supplies are paid doesn't matter.)
Any accountant or investor would have the most interest in "liquid" assets - which have declined year after year (reprieve in 2016) for seven years from 94 million down to 17 million.
Likewise, the corresponding "bottom line" (assets less liabilities) has plunged year after year (also a reprieve in 2016) for seven years from 117 million down to 6 million. There isn't an investor anywhere that would put a dime into a corporation with those numbers.