Society Finances revealed

by why144000 5 Replies latest jw friends

• 

  why144000

  For those who are interested a copy of the Society's (Australian Branch) financial reports are available at the following address

  http://www.angelfire.com/mac/why144000/ausfinances1.pdf

  There are more if people are interested.
• 

  teejay

  why,

  I found this one section interesting:

  -----------------------------------------------------------------------------------
  STATE OF AFFAIRS

  Changes in the state of affairs of the Society are set out in the review of activities
  included in this Annual Report. Significant changes outlined are as follows:

  * Operating deficit of $2,957,415, changed from a deficit of $490,241 on prior year.

  * Total assets decreased from $40,670,413 to $38,141,808.

  * Abnormal write off of inter-branch loans totaled $2,010,439.

  * Abnormal write off of inventory and receivables $4,198,955.

  * Cash flows from operations increased by 16% to $17,041,559

  -----------------------------------------------------------------------------------

  It seems to me that the Society is losing money, based on the first two entries. How can there be a 16% increase in cash flow? And what are the "abnormal write offs"? Anyone understand this?

  Thanks why.

  peace,
  todd

  ps. you have more? nothing to lose in posting 'em.
• 

  Maximus

  Well, they just didn't put literature inventory into the mix because they have gone to the donation system.

  $1.3 million Bethel expenses?

  Catch all that airline expense vs. ticketing expense?

  Doesn't show how much money from conventions is sent directly to the Pennsylvania corporation.

  Losing money? I don't think so.

  This was terrific, teejay! Someone will do some sharp-pencil extrapolating from this one, I'm sure.

  Now if we could just get the same thing from the Pennsylvania corporation.

  Wow!

  Maximus
• 

  expatbrit

  Maximus:

  You may find this interesting: http://www.jehovahs-witness.com/forum/thread.asp?id=5455&site=3#64190

  Original scans of the documents are on the WT Observer site. http://watchtower.observer.org/ under the heading JW's and money.

  If you wish I can email you copies of the original financial documents I have.

  Expatbrit
• 

  Maximus

  I've repeatedly been told by those who know that "the Society" is cash rich, but it's really hard to get a handle on the total, as JT says.

  The master corporation has always been, of course, the Pennsylvania corporation, Watch Tower Bible and Tract Society of Pennsylvania.

  According to the report:
  In 1998 they had CASH assets (and short-term) of almost

  $$$$$$$$$$THREE HUNDRED MILLION DOLLARS$$$$$$$$

  Grant Suiter is turning over in his grave at the disclosure you just shared with me. Never saw it previously.

  The Watchtower Bible and Tract Society of New York has assets too. Note that it is the publisher of The Watchtower and publications. The Watch Tower Society society holds the copyright, of course.

  Add their cash assets to the mix, and that of the other corporations, and you have a ton of CASH.

  Now, I ask you: Do you know of ANY charitable organization that is sitting on half a billion dollars cash and short-term investments? The ones I know are cash poor, because they put it to work in CHARITABLE ways. No wonder these birds are "nervous."

  I would indeed love to have originals, to put some things together ...
  Thanks!

  Maximus
• 

  expatbrit

  Maximus:

  You have mail.

  Expatbrit