WB&TS of Pennsylvania financial figures

by expatbrit 42 Replies latest jw friends

  • expatbrit
    expatbrit

    A few financial figures that happen to have fallen into my sweaty palms. While only a small piece of the WT's financial jigsaw puzzle, they effectively illustrate the level of $ under the society's control.

    Watchtower Bible and Tract Society of Pennsylvania
    Pensylvania Reg. # 11-1857820
    Year Ended August 31, 1998

    BALANCE SHEET...............................1998 / 1997

    Assets

    Cash and short-term investments........$296,522,535 / 209,383,368
    Current receivables......................10,849,287 / 7,078,760
    Long-term receivables...................277,421,320 / 267,435,970
    Property and equipment..................120,697,680 / 120,547,679
    TOTAL ..................................705,130,822 / 604,445,777

    Liabilities

    Accounts payable & accrued liabilities...$2,414,924 / 794,524
    Conditional donations.....................7,489,654 / 8,743,636
    Long-term payables.......................61,002,396 / 37,503,266
    TOTAL LIABILITIES........................70,906,974 / 47,041,426

    NET ASSETS.............................$634,223,848 / 604,445,777

    COMBINED STATEMENT OF REVENUES AND CHANGES IN NET ASSETS

    Revenues

    Donations................................47,443,713 / 54,722,984
    Interest.................................24,925,594 / 20,504,081
    Kingdom Hall Assistance Fund..............3,218,791 / 3,900,595
    Royalties, Rent and Other.................3,519,062 / 2,928,113
    TOTAL REVENUES...........................79,107,160 / 82,055,773

    Expenses

    Kingdom Hall Assistance ..................2,123,945 / 2,485,514
    Relief Fund..................................21,182 / 170,507
    Convention Fund.................................430 / 0
    Administrative Services.....................142,106 / 14,304
    TOTAL EXPENSES............................2,287,663 / 2,670,325

    CHANGE IN NET ASSETS.....................76,819,497 / 79,385,448

    Net Assets At Beginning of Period.......557,404,351 / 469,616,477

    Prior period adjustment...........................0 / 8,402,426

    NET ASSETS AT END OF PERIOD............$634,223,848 / 557,404,351

  • MacHislopp
    MacHislopp

    Hello Expatbrit,

    in a few words:

    Excellent post, needs to be given ...wide publicity!

    Btw , why the double figures? One for 97 and one for 98??

    Agape, J.C. MacHislopp

  • expatbrit
    expatbrit

    Mac:

    Financial statements always give the current year's figures and the previous year's figures for comparison. In this case 1998 is current and 1997 is comparison.

    Bean freaks like myself can then work ourselves into a froth analysing the year to year movements and ratios.

    For instance, you'll notice that Kingdom Hall Assistance Fund expenses are only approx. 63-65% of Kingdom Hall Assistance Fund income for both years. There is a consistent surplus of about 35-37%.
    Interesting.

    Expatbrit

  • expatbrit
    expatbrit

    Btw, if anyone with a web site wants to put the originals of the financial statements up on their web site, I can e-mail you the file. Let me know.

    Expatbrit

  • JT
    JT

    Everyone ,please keep in mind that this only represents ONE CORPORATION

    the wt has over a 100 corporations around the world that all have thier own set of BOOKS WITH THIER OWN CASH AND EXPENSES

    wt comes no where near the wealth of the catholic church

    but keep in mind they have no retirement program for NONE OF IT'S REPS

    CO, DO BETHEL WORKERS, MISSSIONARIES

    James

  • Dogpatch
    Dogpatch

    Please email it to me at: randy@freeminds.org
    thanks

  • JWD
    JWD

    Please e-mail it to me at ` jwdugan@d7.dion.ne.jp`

  • chasson
    chasson

    I will interest to it for my french's web site.

    nepal2@club-internet.fr

    thanks

    Charles

  • hawkaw
    hawkaw

    Yep, they like to tell me at the door they are a "not-for-profit" organization. Sure glad they are not spending lots on charity unlike the other churches! Gee they would have to give some of their money away to the needy and we can't have that now seeing we have to keep a 35 percent surplus every year.

    What these figures really show is a lack of charity and an organization that truly is not "not for profit"!!!

    I say tax the hell out of them just like the rest of the publishing companies!

    hawk

  • slipnslidemaster
    slipnslidemaster

    Finally!

    Thank you so much for finding this. I'm an emailing madman today!!

    My name is Slipnslideius Masterus: commander of the armies of the North, general of the Felix legions, loyal servant to the true emperor, Marcus Aurelius...

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