JW Australian Finances

by Attewc 6 Replies latest watchtower scandals

  • Attewc
    Attewc

    I imagine someone has done this already, but I couldn't find it in a search. Feel free to move to another thread if I'm posting in the wrong one.

    I've been watching Leah Remini's Scientology show (eerily very similar psychological traits to JW's) and one episode talked about how Australia now requires non-profit organizations to make their finances public, so I decided to look for JW's reports.

    Link to JW's reports:

    https://www.acnc.gov.au/charity/db994d2f8dec3cdfdbca01e8c8e28da9#financials-documents

    I put the main numbers in Excel and produced a couple of charts to see if we can follow any trends in the future to see if their total value goes up or down. It appears that they're overall value (net income + net assets) is averaging around $14.5 million over last 4 years in Australia (2014-2017). They have to report 2018 numbers by March 2019. Will be interesting to see if the value goes down as a result of the ARC investigation.

    How many JW's are there in Australia ?

    -Attewc (And then the end will come . . .)


  • smiddy3
    smiddy3

    Welcome Attewc ,I`m sure their will be many who will appreciate this post and the information contained here .

    I`m not qualified to make a comment however I`m sure their are others who will relish this information

    thank you.

  • The Fall Guy
    The Fall Guy

    Good to have you join us here Attewc, and thanks for the work you've done in producing the Ozzie Branch's financial charts.

    The financial & legal snakes at the HQ in Warwick have probably devised plans to siphon the bulk/all of the Australia Branch's cash back across the Pacific to the USA. I wouldn't be surprised to see wholesale redundancies or even closure of that Branch. Then loyal Ozzies would be "encouraged" to donate directly to the world HQ.

  • pepperheart
    pepperheart

    I think because of all the outgoings that the watchtower has its only a question of time before they start closing even more bethels.They closed 20 in 2012.They are also in the process of selling 3,000 kingdom halls around the world and since 2015 or so so have stopped printing 50 million magazines a month worldwide.

  • Attewc
    Attewc

    According to the 2018 report, there are 68,247 PEAK publishers.

    2017 Donations = $23,124,158 = A minimum of $339 per publisher per year = $28.25 per month.

    -Attewc . . .

  • resolute Bandicoot
    resolute Bandicoot

    Hi Attewc, welcome to the group and to the local Au group, I guess that Attewc is an acronym for something??

  • shepherdless
    shepherdless

    I missed this when first posted. I am looking at the financial statements for the first time, but I am pretty certaint they don’t include the individual Kingdom Halls, as they have their own separate financial statements (and the numbers would be too low, otherwise).

    What really stood out for me in the 2017 statement is that “Related Entity Loans” makes up A$16.8 million of the A$25.4 million of total assets (66%), and at the same time, A$9.4 million out of A$10.4 million (90%) of total liabilities. The notes to the statement give no explanation. However, some might recall that the UK accounts revealed the Aust branch did give the UK branch (IBSA) an interest free unsecured loan of £2,927,881 a couple of years ago.

    Without details of these “Related Entity Loans”, it is hard to know what is going on.

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