A question

by JeffT 35 Replies latest jw friends

  • Magnum

    Storm: Why do you need this information? Did you make some sort of investment?

    I can't speak for JeffT, but I know why I'd like to have the info. I did make an investment - virtually my entire life, and I did not receive the promised payout. When one calculates all the costs involved (including affecting my future), he should find that a million dollars doesn't come close to the amount of money I lost in my investment.

    I'd love to know what they do and have done with the money.

  • Storm

    "virtually my entire life, and I did not receive the promised payout"

    I appreciate the linguistics "Magnum."

    Although, what's personal seems to confuse what' s logical. Your expectations were not met. What were you expecting?

  • JeffT
    I'd like the information because I'm an advocate for transparency in all matters. Unless there is some compelling reason like national security people should be honest with each other. The WTBS has been taking money from people for well over a hundred years. I think the people who give it to them deserve to know where it went. Additionally, in this country they have tax free status. I believe all such organizations have a responsibility to let the public know what they're getting financially for letting them avoid the tax man.
  • cognac
    I have access to that info, so I wouldn't need to. It's exists, but, privacy laws prevent me from exposing it, so, I can't/won't.
  • Magnum

    Storm: What were you expecting?

    I was expecting what the organization said would happen, and I based my life on it. You don't know what the org said would happen? Are you or have you ever been a JW?

    Here's just a small, specific example of what the org said: "The apostle Paul was spearheading the Christian missionary activity. He was also laying a foundation for a work that would be completed in our 20th century." -Watchtower 1-1-89

    In other words, it was stated that the preaching work would be completed in the 20th century, thus implying that the end of this system would also come in the 20th century (see kj216; it states explicitly that that the end would come in the 20th century).

    And you do know what JWs say will be the reward for those who submit to the org, don't you? Well, I fully expected that reward. I did my part. I slaved, suffered, sacrificed. Now where's the reward I was promised?

  • truthseeker100
    Magnum is there not truth in understanding? And wisdom in grey hairs?
  • nonjwspouse



    With previous years here.


    The capital asset sales of the properties are based on the purchase price on the books. So they had to have been getting a profit, unless at some point they sold from one WT owned corporation and bought back at a higher price to create an inflated book value. Then selling in the down market made sense with creating losses to be used.

    It's confusing this 990 form. They are subject to AMT? They have been creating huge losses for this one particular corporation. They have so many other corporations, there must be a spider web of financial washing going on.

  • NeverKnew

    Nonjwspouse surely that can't be all the money... Is it? There'd be a whole lot of celebration but they HAVE to be pulling in way more.

    I hate tax stuff. That's why I have a preparer.

    Does anyone know what that document is?

  • nonjwspouse

    There are plenty of corporations to place the $. As others say, they even can send it overseas.

    Note the overall assets on the top left of the 990 say 1,020,441,000

    Cash heavy they are not. It is tied up in the buildings not yet delivered, etc. Plus, they send away money to other countries for "charity". I seem to recall seeing one where that amount was huge.

    Remember they are also buying up expensive properties like the one in England.

    All those operating losses on the returns means all that is $ back to them. Kind of like how a depreciation offsets income.

    The change in the KH "loan" arrangement likely took those A/R off the books, reducing the A/R "asset" ( though they still count on it as a revenue stream, which is not accounted for as an asset until it is received) . It is just not on the books as a loan payable to them. The KH have been selling off. I am confused as to where the remaining KH deeds have gone. The WTBTS does have multiple corporations.

    Yet, they are a 501(c) (3) , I am a bit confused about what seems to be a tax liability.

  • FreeGirl2006

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