October 31, 2017 TO SELECTED BOEs IN THE US BRANCH TERRITORY Re: Discontinuation of the Funds-on-Deposit Arrangement

by wifibandit 38 Replies latest watchtower beliefs

  • no-zombie

    Correct me if i'm mistaken, but are what is being spoken of here, is money that congregations placed in the Society's care, while the congregation continues saving to build a new hall? That's the impression that I've got. If that is right, it should be encouraging to us here on this forum because it shows how despite they must be. But also, just like when they stripped the local congregation's of 'excessive funds', it a one time deal. Like selling your furniture to pay for the bills. Soon enough there will be nothing more to sell to ward off the debt collectors and you end up on the street.

  • smiddy3

    Maybe joe-blow JW is aware of the $millions WT is making with the sale of their Brooklyn properties and reasons they are making all of this profit in real estate sales so why do I need to contribute my measly $$$`s anymore.

    Could it possibly be that more JW`s are waking up ? to their money grabbing schemes ?

    The religious organization founded by C.T.Russell who said words to the effect "that they would never beg for money ,that when the faithful stop giving willingly ,then that`s when Jehovah says it`s enough ?"

    Does that sound like the WTB&TS of today ? or do they continually remind the faithful to contribute to meet expenses (real or unreal )

  • Phoebe

    Well, someone's got to pay for that huge film studio with its plush offices!

  • ttdtt

    Wow - when are they going to run out of ways to TAKE peoples money without the congregation noticing exactly what they are doing?

  • _Morpheus

    Come on slim.... you know you want to....

  • punkofnice
    Kingdom Hall and Assembly Hall construction worldwide.

    Construction? Seriously?

    the elders may decide

    Between the lines I read, 'give us your money or else...'

    More money for the paedo-loving, rock star popes to enjoy.

  • Doubting Bro
    Doubting Bro

    I thought the funds on deposit arrangement was done away with when they told the local congregations that should only keep 5k in their accounts and forward the rest to the WTS? I get the idea, if a congregation had a large amount of money, rather than invest or put into a savings account, they would allow the WTS to have it where they could get better returns. The principle stayed with the congregation but any investment income would be used by the WTS to fund their "work".

    I gotta think that there are banking or tax regulations on this arrangement that is causing the change.

    But, I thought the big cash grab had already happened.

  • darkspilver

    Doubting Bro: I thought the funds on deposit arrangement was done away with when they told the local congregations that should only keep 5k in their accounts and forward the rest to the WTS?

    Effectively, yes.

    It appears though not all congregations have dealt with it - it is poosible that some may have forgotten they even had funds-on-deposit (for example, maybe this could have happened if congregations have merged).

    The OP letter seems to be 'formal' notification that the arrangment is ending.

    If the WT does not hear back, they will send the money back automatically to the congregation's bank account.

    Letter, March 29, 2014 - Re: Adjustment to financing Kingdom Hall and Assembly Hall construction worldwide

    What should be done with excess congregation funds that are currently being held or that may accumulate in the future?

    The elders of congregations having funds on deposit with the branch office should review the balance of such funds and decide if these can be donated in full or in part to the worldwide work and/or Kingdom Hall and Assembly Hall construction worldwide, particularly if these funds were being saved for a future construction project. Periodically, the body of elders may also review the balance of the congregation funds to determine if surplus cash could be sent to the branch office as a donation. The recommendation for such a donation should be presented to the congregation as a one-time resolution. When this resolution is approved by the congregation, the one-time donation to the worldwide work or to Kingdom Hall and Assembly Hall construction worldwide may be added to the monthly resolved amounts sent to the branch office.


  • Brokeback Watchtower
    Brokeback Watchtower

    All that has happened lately shows very clearly they are in deep trouble financially: all the sell offs, robbing the congregations of their funds by directives to make certain resolutions that must be obeyed and all the halted construction projects.

    Pretty soon the Circuit Overseers job will be gone or replaced with something that don't drain any funds. And when that happens all hell will break loose because control of what happens at the meetings will vanish and a bit of free thinking will gradually seep into the congos.

  • smiddy3

    We can only hope so BbW

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