Is the Watchtower hurting financially? (page 4)

metatron

Long term, I believe their financial woes are quite real. In fact, if more C.O.'s take up this message, I think it may signal

the turning point we've been hoping for: Open and manifest decline of the organization. Their most problematic expenses

are the magazines and the C.O.'s/missionaries. They are forced to print 4 magazines a month, each run costing them

many millions of dollars - that adds up quickly. Some small religions like this have trouble just printing one magazine

a month. Like many religions, they have a huge pile of assets but limited cash flow.

metatron

And this figure below doesn't even consider the cost of running the Bethel homes around the world. My husband works for an agency that administers several large facilities the size of Wallkill, Brooklyn and Patterson. Even with the adjustment to low salaries, he said the WTS is probably spending $30 million each year to operate each of these WTS facilities. While Wallkill is publishing books and magazines which in theory could generate cash, Brooklyn and Patterson basically are a drain with few functions that generate cash.

yb02 p. 31 Worldwide Report 2001 Grand Totals ***

During the 2001 service year, Jehovah’s Witnesses spent over $70.9 million in caring for special pioneers, missionaries, and traveling overseers in their field service assignments.

Blondie

frankiespeakin

Another reason the WT may be hurting financially could be that the upper echelon might be diverting fund to private bank accounts. I'm sure many higher ups can see the writting on the wall and know the organization is in big trouble because of the dreaded "internet", and the many law suits looming in the horizon(which may be just the tip of the iceburg, so they may in anticipation of its collapse want to make sure they have a nice net egg.

Elsewhere

Garybus,

I read through that Friend of the Court document and I noticed that one of their main concerns was that each and every individual JW would be required to file with the county and get a license to do business, keep accounting records and file taxes every quarter. They would all literally have to run their own individual businesses.

I found this very interesting in that it further emphasizes that when challenged in court, the WTS claims no legal agency over JWs in general. If each and every JW were required to individually handle their own financial accounts and a business, I'm inclined to think that the JWs would start to wonder why the WTS is not handling all of the accounts. Once enough JWs start asking questions the WTS would be forced to clearly state that JWs have always been acting on their own with no legal ties to the WTS. This would inevitable cause JWs to question whether their loyalty belongs to the WTS or Jehover -- the result would be a flood of "independent thinking".

Also, because the WTS wants to stay legally separated from individual JWs, all of this tax handling would result in a double tax. First the WTS is taxed for selling the items to the JWs, then the JWs are taxed for selling the items to the public. This would be a financial disaster and the WTS would be forced to substantially raise the prices of all of their products to make up for the losses.

Another problem it would create would be the simple fact that every JW would be required to file for a license. This is something the WTS has fought tooth and nail in the courts... the WTS does NOT want there to be a paper trail for the activities of JWs.

In the end this leaves the WTS in a very difficult choice:

Continue to refuse to pay taxes and continue to slowly bleed to death financially.
Admit that they have legal agency over JWs and pay only one tax. This will result in a flood of financially devastating lawsuits that they are currently able to avoid.
Keep the denying legal agency and end up having to pay a double tax while admitting to the JWs that the JWs are legally acting on their own, resulting in a lot of "independent thinking". The WTS would also have to deal with the fact that the activities of individual JWs could be tracked by outsiders which would inevitably result in some very embarrassing revelations.

blondie

Another reason the WT may be hurting financially could be that the upper echelon might be diverting fund to private bank accounts.

I doubt this; the WTS hates for its individual members to be stealing from them. The in-house accounting procedures are very rigid. Without proof, I don't think it would be advantageous to throw around this type of accusation.

Jourles

Another reason the WT may be hurting financially could be that the upper echelon might be diverting fund to private bank accounts.

Wouldn't it be funny to read in the New York Times that a few accountants within the WTS were funneling money into off-shore accounts for their buddies. Hell, with so many corporations listed now, they could make up a new one and get away scott free without anyone noticing. Just call it the Christian Association of Jehovah's Witnesses of Sealand or something.

frankiespeakin

Blond,

I doubt this; the WTS hates for its individual members to be stealing from them. ; The in-house accounting procedures are very rigid. ; Without proof, I don't think it would be advantageous to throw around this type of accusation.

Well it is not an accusation, merely a speculation, which is what you are doing and which is what this thread encourages by its very title. I personally think it is a worthy speculation, with very real posiblities. Hey the whole WT operation is a big scam, why wouldn't it be a reasonable speculation?

Gerard

Is the Watchtower hurting financially?

No. Thay are only getting more greedy.

greendawn

If they have indeed so many assets as people say in New York alone, never mind the rest of the world, it's hard to see how they can be in trouble they could always liquidate them to get cash in an emergency. They could also wind down their operations to save.

toreador

If its true it about time!!

Is the Watchtower hurting financially?

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