Quarterback: Come on now, What more can be done?
Quit going to meetings.
OrphanCrow
JoinedPosts by OrphanCrow
-
42
I need help with this one. What do you think I should do?
by Quarterback inmy wife is pleasant and easy to get along with.
she is also helpful to many.
lately, however, there is a jw sister who some are curious about has befreinded my wife.
-
-
OrphanCrow
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
Yes, Crazyguy, the changes to the WTS is always about the money and I don't think that the CRA was too happy with the way the WTS was conducting its business.
The switch to monthly pledged donations was a forced move by the CRA.
Large reserves may also lead the CRA to suspect an NPO of increasing its capital by improper means. They are of the opinion that any capital projects must be funded by member contributions, gifts, grants, or accumulated incidental profits.
-
55
Are Jehovah’s Witnesses losing the War on Apostates
by Watchtower-Free infound this.
http://jwalumni.org/2015/06/08/who-are-jehovahs-witnesses-september-watchtower/.
by misha anouk on 8. june 2015 in news
-
-
OrphanCrow
This is great. It really is.
It will be like telling a child not to touch a hot stove - they will do it just because they have been told not to.
Tony just gave great advertising for apostate sites on the internet.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
I have been doing some more reading about the CRA's rules for charities and non-profit organizations. There has been some recent changes to ensure that these organizations are actually not for profit.
In previous years, the KH loans were reported as "Long Term Investments" but have now been converted to "gifts to qualified donees". There is a tax related reason for this change.
The CRA considers long term investments as profit making ventures and therefore not allowed for non-profits under Canadian tax law.
An overly-large reserve might also indicate the NPO is accumulating for inappropriate (i.e. for-profit) purposes.
A common ‘inappropriate’ purpose is the intention to earn investment income. Interpretation Bulletin IT-496R opines that using accumulated funds for long-term investments is ipso facto a for-profit purpose, taking the organization outside of the scope of section 149(1)(l).This would explain why, on the 2014 tax return, the long term investments have been reduced so significantly and subsequently, the reserve is much smaller. The WTS was forced to make this change by the CRA. They were likely censured for giving out loans as a profit making venture and, if they hadn't forgiven the loans, they could have lost their tax exempt status.
And now you know why Sophie can't have ice cream - the Tower Daddy lost a whole bunch of that re$erve they had.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
They spent 23,000 on a LENS????? My god are telvisions cameras that expensive?
Copy camera lenses can be that expensive. But, why would Canada send a lens to New York? And get to claim it as a charitable gift??
It is possible that it was a copy camera lens from the printing department that was no longer in use. What to do with an out of date copy camera lens??? Oh. I know! Send it to New York! And call it a gift.
*oops - sometimes I post too fast - "telephoto lens" would not be used for copy work. But a motorized, state of the art TV lens would cost a bundle....lots.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
BerryGerry - I think the 35 mil that looks like it has disappeared is actually still there. It isn't that the WTS has hidden it - the CRA has changed their forms and reporting for the 2014 tax year.
On the long financial form, gifts to qualified donees used to be reported with "other income" on line 4920. This year, the gifts are added on after the expenditures have been totalled. On line 5050 - $35,921,399 is listed as charitable gifts - the 434 congregations that were gifted by the WTS would be in this number and would make up the difference that you see on the brief summary.
The summary in the OP gives the figure of $82,779,949 for total expenditures yet the long form gives the figure of $118,701,348 as total expenditures after the gifts have been added in.
It is possible that the mortgage forgiveness was a move to get in line with the tax laws for charitable organizations. It appears like there has been a change in the CRA rules and reporting.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
Correction - I had said that there were 250 congregations listed as "qualified donees".
That should be "434" congregations.
Hmmm...the rest of the 1390 Canadian congregations must not have had a mortgage.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
They're getting a letter.
Good. The CRA loves to get information from people about possible tax fraud. They are ruthless.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
nelim: Isn't the WTS tax-free anyway? So what would be the point of these gifts then, as a tax-return on an already zero tax?
The WTS still has to account for the money they receive and it has to be shown as being spent on "charitable activities". By forgiving the loans, and claiming them as a "charitable gift", the WTS fills the no profit requirements by claiming that the organization is "charitable".
The "zero tax" can only be claimed as long as the money received is spent on charitable activities. In this case, forgiving mortgages is the charitable act.
-
40
Canada Branch Finances - What's Going On?
by berrygerry inan update on the canada branch hasn't been made (i think).. year-over-year, canada's equity decreased by 11 million in 2012, 17 million in 2013.. however, the 2014 report shows a huge increase (20 million) in the cost of "purchased supplies.
" with the shrinkage of the mags, and the push to online, how the heck did this go from 39 million to 58 million?.
even with this number, the equity in 2014 went down by a staggering 56 million.. what the heck is going on?.
-
-
OrphanCrow
Oppostate: Look at the figures for long-term investments,
they've taken their investments and cashed in.Yes, I noticed that too. the long term investments went from 34 mil down to 2 mil.
But, if you look down to where they list income received from interest and investments - the figure went up - from just over 2 mil to 3.8 mil.
BerryGerry:...balance should be about 69 million - however balance is 33.7 million
Putting aside: "how did your 'income' increase by 15 million, and you end up with a 20 million loss (a 35 million difference)?"
Putting that aside as legit, still means that an additional 35 million was removed from the books.BerryGerry - I wonder if CRA caught that. That is a large glaring difference. Where did the money go? How could 35 mil disappear?