JW org collapses

by I Faded Twice 138 Replies latest social humour

• 

  Sanchy

  Do you know how much WT made from the sale of Brooklyn properties? 1 billion dollars?

  Do you know how much the Mormon church collects in tithes each year? 8 billion or so?

  At the end of the day, it doesn't matter whether it is 1 billion or 100. What is important is how much money is going out relative to what's coming in. Watchtower admittedly found itself in the red not long ago, which lead to the austerity measures and the begging for more donations. It seems the sales in Brooklyn injected some much needed cash.

  The question is: Will all the cuts they've made in expenditures be enough to make their finances sustainable in the long run?
  
• 

  slimboyfat

  Why are they still around 17 years after they were not in trouble? Huh? I wasn’t saying they were in trouble in 2001. You’d need to take that up with whoever said that. If there were people saying that. In fact, until 2015 I thought they were in pretty good shape. My old posts reflect that. That’s when the crisis hit in earnest, although the first signs might be detected from around 2008, in hindsight,

  If what some people were predicting in 2001 was that Watchtower’s payouts for abuse would become an issue for for the organisation, I think we’d have to say that was pretty accurate. And this is nowhere near run its course.
• 

  Doubter

  Sanchy,

  Actually, WT did not find itself in the red. They never said “operating expenses” were not being covered. They specifically stated “theocratic initiatives” they had planned (building projects, etc) were not being funded as expected.

  But then in January 2016 (IIRC) they said the got the needed funding, and in March 2017, they mentioned the Warwick HQ was totally funded by the NY sales, in essence, swapping buildings.

  So I believe your information is terribly inaccurate.
• 

  slimboyfat

  Sanchez yes the question is whether Watchtower can find a way to live within their means. I think it’s doubtful they can do this without undermining the organisation itself by selling too many KHs and undermining their credibility to the rank and file JWs.

  The comparison with Mormons does seem relevant because they only have 5 million active members and around 40,000 congregations worldwide. JWs have three times as many congregations to maintain on a much smaller budget. I think that is relevant information.
• 

  I Faded Twice

  I go back and forth on what will happen . I could see this just being smoke and mirrors .I also see the possibility that they are in bad shape financially.

  What makes me think they are failing is in the 90s and even early 2000s they never begged for donations. It didn't happen.

  So to do it now it's a bit out of character.

  The only guys that would know won't say.
• 

  I Faded Twice

  I read somewhere that the sex abuse lawsuits have cost Catholics like 4 billion dollars.

  I guess it all depends on just how many lawsuits get filed!
• 

  Doubter

  IFT,

  I think the problem is people are interpreting their actions based on what they want to happen (collapse) and not in light how organizations operate. So one less dollar spent this year than last year, equals “collapse”. It’s literally how they see it.

  So while our economy has rebounded, it certainly isn’t robust. Best to tighten your belts where you can instead of attempting to ride it out.
• 

  Sanchy

  Actually, WT did not find itself in the red. They never said “operating expenses” were not being covered. They specifically stated “theocratic initiatives” they had planned (building projects, etc) were not being funded as expected.

  Even if you what you say is true, costs for planned future expenditures were not going to be met, signifying at best accounting troubles.

  As for their announcement regarding "swapping buildings", it says nothing regarding their financial situation. The more relevant indicators of monetary problems were the immediate and seemingly unexpected austerity measures taken beginning in 2015, including freezing most construction projects, laying off thousands of bethel workers, selling kingdom halls as well as assembly halls, etc. Herd himself announced that those measures were taken for budgetary reasons.

  Slim gives an excellent summation of obvious WT financial woes here:

  https://www.jehovahs-witness.com/topic/6316808367767552/reasons-concluding-that-watchtower-serious-financial-trouble
• 

  Doubter

  Sanchy,

  I have no desire to change your mind. Believe what you wish. Time will tell.
• 

  Doubter

  lol — whoever down-voted me is missing a very important point. 2015 was 3 years ago, when the “collapse” allegedly began. It’s damn near 2019, and there is no collapse.

  I mean, it’s really not that hard to add 2 and 2, unless this will take another “20-30” years to completely fall, as some here have posited before.