Can Someone Explain To Me, Are The Org In Debt Or Rich?

by pale.emperor 39 Replies latest watchtower scandals

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  pale.emperor

  Hi guys.

  Im aware of the Orgs blatant hints to donate, donate, donate to the org, the sacking of bethel staff, selling of buildings, reducing mags and books, emphasis on digital rather than physical books etc which is obviously a money saver - BUT are the WT Org in money difficulty? Because elsewhere on here and on YouTube there's stories of the Watchtower being mega rich, one even called it "a billion dollar organization". And if there is any money in there, who's benefiting off it? The GB fly first class, i know that, but what's the real story here?

  
  
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  OUTLAW

  Can Someone Explain To Me, Are The Org In Debt Or Rich?

  

  
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  sir82

  Without financial statements, anything said is 100% speculation.

  It's sort of no use even asking the question, since no one on this forum has seen the books.

  On the other hand, it's fun and harmless to speculate.

  My observation / guess: They are asset rich but cash flow poor. The problem has been alleviated in the short term by the sale of the Brooklyn properties, but their long-term cash flow outlook appears shakier. I suspect they will continue to cut back on branch locations & staff in order to cut expenses.
  
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  OrphanCrow

  The org has created a money sucking monster.

  Yes, they have $$$$$$$$$$ and property assets. Lots of it.

  But, they must have donations coming in. And the more money they have, the more donations they need.

  Retaining charity tax status dictates that the org has to have a certain percentage of their income coming in from donations. The donations, in effect, protect the money and assets they already have. Without donations, the org would lose its tax free status.
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  The Searcher

  Shortly after the 2008 crash, a very trustworthy old J.W. friend told me that he'd had a conversation with one of the Greenlees dynasty in Scotland. (most prominent J.W. family in Scotland years ago) My friend informed me that Brother Greenlees told him that a senior U.K. Branch Committee member had said that the org had serious money problems - but that he was certain it would be sorted.

  Hence my belief that the org's money-grab is the result of need - not greed!

  I'm of the opinion that the org had to implement all of their draconian measures in order to stave off being made bankrupt by some serious Wall Street creditors.

  Maybe wishful thinking on my part, but killing the goose that lays the golden eggs doesn't add up.
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  slimboyfat

  Searcher very interesting, but could you explain the killing the goose comment, what do you refer to?
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  slimboyfat

  There have been at least three panic videos issued by the GB.

  1. Lett saying the WT has got more money going out than coming in so please donate more.

  2. Lett saying thanks for the response but we need more money every month not just for a few months, so keep it up.

  3. Herd announcing bethel, branch and literature cutbacks weirdly claiming they are a sign of expansion and in no way means they are not being blessed.

  Anyone who has watched the three "panic" videos must suspect they've got money problem. Or at least money worries.

  Whether it will ever escalate into something they can no longer hide remains to be seen.
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  OUTLAW

  WatchTower Isn`t Poor..

  WATCHTOWER IS GREEDY..
  

  
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  slimboyfat

  Makes me wish someone would do a fake sheik style sting on the GB.

  If an ordinary JW asked the GB how the organisation is doing financially they'd get nowhere. But imagine if it was a wealthy businessman with lots of money to donate who was making enquirers about the financial situation. Not to say they couldn't simply lie of course. But they might open up a bit, even unwittingly. I would be surprised if they didn't have such meetings with potential donors.
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  The Searcher

  Hi SBF - someone put up some info a while ago which showed the U.S. Branch income was about $900m back in the early 2000s. It seemed to be a nice little earner. Since then, the org seems to have pushed the self-destruct button with all of its cost-cutting measures, redundancies, changes to meetings, huge money-grab, and numerous "new lights." It should have money pouring out of every orifice, and yet they continually beg for more!

  I reckon many J.W.'s are feeling alienated from the religion they once knew as "the truth", and are bewildered at the direction this corporation is taking. And I personally know of two zealous J.W. households who have ceased contributing.