by berrygerry 37 Replies latest watchtower beliefs
There isn't an investor anywhere that would put a dime into a corporation with those numbers.
As Orphan Crow has suggested, I believe it's all "smoke & mirrors" to make the WT Corp look broke when the attorneys come looking for assets.
The Legal Dept rules the WT World and they are there to protect "God's Dedicated Funds".
Doc
Just because we can’t tell everything from a partial report doesn’t mean we can’t tell anything at all.
It looks like revenue increased as resources were gathered from congregations around 2015/6 but have dropped since. It looks like assets have dropped. Whether this shows a collapse in assets or restructuring it does tend to indicate adaption to a new financial situation and it's not unreasonable to infer financial problems even if the precise nature and scope are unclear.
Slim, in the case of corporations ( and especially ones that have motivation to hide assets), you absolutely cant know anything unless you know everything.
A good counter-example: Watch Tower Britain recently reported that the total amount of its cash was at an all-time high of £100 million as of 31 August 2017. Shall we conclude that the financial situation of JW organization in UK is extremely good?
berryjerry:
It is possible - however, those declines started 8 years ago. The only real legal threat in Canada was within the past year.
It could be the org is doing asset control in preparation for upcoming legal battles.
8 years ago? Yeah...that would be about right. The Royal Commission in Australia was announced in 2012, not to mention the child abuse cases that were just getting rolling then. The org could hear the footsteps. They knew what was coming.
Just because "there was no real legal threat" to the Canadian branch at the time, doesn't have much bearing when the org was well aware that the abuse problem is global and that Canada is a cousin to Australia.
Footsteps...and astute financial planning/handling...stash the cash, boys
Watch Tower Britain recently reported that the total amount of its cash was at an all-time high of £100 million as of 31 August 2017. Shall we conclude that the financial situation of JW organization in UK is extremely good?
That's a lot of cash.
Is there a year-over-year posted somewhere?
Corney the 31st of August 2017 financial statement for IBSA says that there is currently £8.8 million cash in hand. The £121 million figure is for net assets, which includes property.
The statement also says that “the remaining contractual obligation” for Chelmsford is £75 million.
http://apps.charitycommission.gov.uk/Accounts/Ends47/0000216647_AC_20170831_E_C.PDF
The latest statement from WBTS of Britain is from 2016 and shows £64 million cash in hand and net assets of £89 million.
http://apps.charitycommission.gov.uk/Accounts/Ends61/0001077961_AC_20160831_E_C.PDF
Hi slimboyfat, 2017 WTB account is available on the website of Companies House here: https://beta.companieshouse.gov.uk/company/03858051/filing-history
Is there a year-over-year posted somewhere?
Frankly, I
don't know. The only thing I know is that WTB, IBSA and Kingdom Halls
Trust reports are available on the Companies House site))
