WB&TS of Pennsylvania financial figures (page 4)

ozziepost

Sorry, Farks, but I gotta tell ya, mate, you're wrong this time!

The difference between assets and liabilities on a Balance Sheet is called Owner's Equity.

Time to study accounting, eh?

Cheers, Ozzie

You are partially correct on what you say about a balance sheet. The basic accounting equation for a regular corporation is Assets = Liabilities + Equity (equity is generally the issued share capital and the accumulated and undistributed profits of the company, known in accountingese as "retained earnings.")

What makes it a little more complicated with non-profits is the different presentation rules for their statements. In this case the bottom line on the balance sheet is "net assets". This is simply total assets less total liabilities. In other words, net assets is the non-profit equivalent of retained earnings. It is the accumulated "profits" that the charity has made during the period of it's existence. Since charities don't have "owners" as such, different terminology is used.

Hopefully that makes it all at least as clear as mud. If you would like to see scans of the original documents, they are on the Watchtower Observer (http://watchtower.observer.org/) under the heading "JW's and Money".

Expatbrit

expatbrit

Hello Hillary:

Are all the finances being run through the WTB&TS for all the Corporations or have they been financially structured to operate independently? I have a feeling that the WTB&TS is being set up to take the main compensational hit, while the other Corporations have distanced themselves in all ways.

A very good question, which unfortunately cannot be properly answered without a much fuller knowledge of the WT's corporate structure and US law. The Watchtower has also carried out a recent extensive restructuring of it's corporate entities, which would appear on superificial examination to provide more independence, and thus greater insulation in the case of lawsuits. BUT, there is only so much that can be done in this regard. The fact remains that all these entities remain connected and related, and I really don't see how the WT could set itself up so that one company took limited compensational hits, while the others remained completely immune.

Expatbrit

SixofNine

*raises hand*

I noticed that donations were down by 7 million dollars from 97 to 98. It would be great to see a few years of this info to know if this is part of a beautiful downward arc, or just a one event spike. The kingdom hall assistance fund was down by an even greater percentage.

*grabs mike pole from microphone handler and launches into a rendition of I Did It My Way*

JT

so much money and so little time

zealofjehu

hey expatbrit can you please end me the file to. i would greatly appreiate it thanks

[email protected]

Brummie

zealofjehu, expat doesnt post here very much ;) I'll let him know you want this.

Welcome aboard by the way. This thread was started 4 years ago

Brummie

battman

Hi Guys, Here is the link to the Freedom of Information Office and a form to request information. I believe that the WBTBS is required to file "Returns" on their financial activities and that that information is probably in the "public domain". We just need to follow up and search under every rock until we get all the facts! This should really give the disgusting slave a few more nightmares. hahahahahahaha http://www.spj.org/foia.asp battman

battman

Rats!!!!!! The purposes of the corporation are religious, educational and charitable. It acts as a legal entity for the religious body of Christian persons known as Jehovah's Witnesses. EIN: 11-1857820 This organization is not required to file an annual return with the IRS because it is a church. It is a 501(c)(03) public charity. Information in this report was supplied by the nonprofit organization more than 24 months ago. back to plan A. battman

WB&TS of Pennsylvania financial figures

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