Who owns the Watchtower Bible and Tract Society

by pistolpete 12 Replies latest watchtower beliefs

  • DATA-DOG
    DATA-DOG

    The Rockefeller’s...

    DD

  • Anony Mous
    Anony Mous

    Here's the deal:

    A non-profit can make a profit, they just can't redistribute their profits to private individuals (so you can't have shareholders vis-a-vis you won't attract any investors), but they can make a profit, invest in things like real estate and the stock market. The only difference is that they don't pay taxes on income below the profit threshold, so if you make $1B and spend $1B you don't pay taxes, if you make $1.5B, you pay taxes on the $500M unless you re-invest them, so you can spend $500M in real-estate and 'development' and not pay any taxes.

    Most Universities are non-profits, yet they have billions in the bank for which they do not have to pay taxes. Many non-profit CEO's are in the top 100 when it comes to income so the IRS rules around reasonable renumeration are very, very lax if not non-existing, you just can't make it look like you're benefiting a private person, but you could make your CEO's and board members very wealthy or give them gifts, or provide them with room & board.

    Moreover, religious organizations are toxic to the IRS regulators, the Supreme Court has ruled that there is very little you can do without interfering in their religious tenets which is a first amendment violation. So if your religion says that your religion needs a fleet of yachts for its leaders (eg. Scientology), well, that is your first amendment right.

  • Lost in the fog
    Lost in the fog

Share this

Google+
Pinterest
Reddit