"non-witness insider"
Oh, I just LOVED that term. Yeah, sure, a non-JW just has GOT to have real, deep inside information.
Reason of financial problems WTS
by Gorbatchov 38 Replies latest jw friends
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TheOldHippie
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Magnum
Why would it be hard to believe that a "non-witness insider" could have deep inside info? I've known some JWs who would do a lot of talking with non-JWs that they wouldn't do with JWs for obvious reasons. Sometimes people want to talk - especially if they're frustrated or disgruntled. It's easy for me to believe that some higher-up JWs could say things to outsiders that they wouldn't say to other JWs. -
TheListener
The organization must cost a fortune to run. Just the paperwork alone for so many different countries. Plus all the supplies and maintenance for the many many properties. Why do we think they might be rich? They must spend a fortune managing what they own and figuring how to keep the whole thing moving forward. The more they buy and build the more it takes to keep it maintained. -
Finkelstein
Why do we think they might be rich?
First of all there are government regulations that reveals non profit charitable organizations list of wealth of these institutions..
Canada and the UK both posted wealth of more than 60 million on hand.
Yes it does cost a lot to keep those branches going but there has been a lot toward those branches over the years.
The WTS has had 100 years or more to gather money through literature sales and donations, there were investments both in real estate and in banking investment funds. ( all tax free )
In realization that the WTS had already a pile of money gathered up, add in the recent real estate sales of branches around the world to the equation and you come up to some substantial wealth.
Was it just out coincidence that the WTS forgave all congregation renovation loans ?
But now the WTS wants more money from people ie. congregations to build more buildings ie.
Kingdom Halls, New Branches such as in New York and in England.
There has been a recent push by the WTS to have all Kingdom Hall property tittles handed over to the WTS.
The WTS is moving even more now into real estate purchasing and development and that's why the new Congregation donation arrangement...... more money...... more money .
Just good old fashion lying and deceiving to keep a publishing corporation afloat. $$$
The 7 GB men who run the WTS have complete positional power and control and being that they get all the perks and privileges like traveling around the world like celebrities they have their own personal reasons to keep the organization working.
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xjwsrock
It's a cash-flow thing.
They have hundreds of millions, tied up in long-term investments (imo based on some of the areas where they have to report financials). When I say long-term investments, I mean 10 or more years till payoff. Things like annuities and such.
They scream poverty, but they will never reveal how much they have tucked away. I guarantee you they didn't put their annuities and such up as collateral for the construction loans. Those loans are based on a certain cash-flow picture they promised to the banks.
Jehovah didn't bless them as expected :) They refuse to collateralize their investments. So they have to deal with the banks shutting down a large portion of their projects.
The WT complaining about money is like a rich person saying "I can't afford it". When a poor person says that, it means the poor person couldn't buy it if they wanted to. When a rich person says it, it just means they haven't budgeted for it or simply don't want it.
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Finkelstein
Just out of curiosity, where is the information that the WTS did indeed need bank loans for their new construction
facilities. ???
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elderINewton
In some ways, this would back up what those tax returns that were "released" a few days ago. (Top Left hand corner of page)
They indicate the Book value of the assets at the end of year. (So this means the price they paid for assets less depreciation, and does NOT include financial gains or losses.).
2009 it shows $965,800,000 in assets for FEIN 11-1857820
2012 shows $1,119,118,000 - pretty big increase
2013 shows $1,154,503,000 - small increase
2014 - $1,020,441,000 - nothing like having your assets decrease 10% in a year.
In 2014 - I personally would have expected a huge increase as they forgave loans, but essentially took over ownership of cash of many congregations, and then also spent it on Warwick so the assets should have gone up even more. Something is surely depleting the funds, and it not building.
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sir82
In some ways, this would back up what those tax returns that were "released" a few days ago. (Top Left hand corner of page)
Did I miss something?
What tax returns? Top left of what page?
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elderINewton
http://www.watchtower.exposed/?p=847
Top page of each tax return.