OrphanCrow

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Posts by OrphanCrow

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  40

  Canada Branch Finances - What's Going On?

  by berrygerry in

  1. watchtower
  2. beliefs

  an 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?.

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  OrphanCrow

  Morpheus: Why would canda donate the telephoti lens, one charity to another, and get to donate it?

  This probably has to do with limits on capital purchases. It is possible that NY has to dilute their capital spending to fall into line with non-profit requirements that capital expenditure have to come from donations. So, gifts are allowed. The lens becomes a gift from Canada to the US. Voila! International charity.

  Or something like that...

  Crazyguy: I wonder if there was some changes in the tax code of the USA that also led to this?

  I have spent some time looking around to see if this is the case but have been unable to find anything conclusive. However, it would not surprise me if it is - what happens in the King of the North is often a reflection of what happens in the King of the South.

  If the CRA is clamping down on non-profits here and making them reduce their reserve funds (which long term investments are part of), then it would likely follow that this is the case south of the border, too.

  Which might well account for the shortfall that the WTS is experiencing with Walkill. They probably started that project as a way to reduce their reserve fund as a requirement for non-profits to retain their tax status. But the taxman might have, after the project started, told them that they had to dump their long term investments (KH loans) and now the WTS is stuck looking at a double reduction in reserve funds.

  Does the IRS publish any tax returns on non-profits like Canada does? It would be interesting to know the amount of money involved in the KH loan forgiveness across the States and elsewhere. The amount has to be many times what was forgiven in Canada and the Canadian amount is almost $36 million. There are 1380 congregations in Canada, and only 434 of them make up that 36 mil. In the States, there are 13,871 congregations. The amount forgiven in the United States must be astronomical.

  One more question - was the forgiveness of KH loans only a North American phenomena, or was this policy put in effect globally? Did the WTS forgive the loans in countries that didn't require it for tax exempt purposes?
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  45

  Why a new "World Headquarters"?

  by 4thgen in

  1. watchtower
  2. beliefs

  i just dont get it.

  the gb moved to patterson and are conducting business from there, right?

  they are not printing as much literature as they once were and they are still operating walkill for the magazines...er a ....pamphlets.

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  OrphanCrow

  I'm definitely more scared of the IRS than I am of Jehovah.

  Lol! And now we know who Jehovah really is.
• 
  45

  Why a new "World Headquarters"?

  by 4thgen in

  1. watchtower
  2. beliefs

  i just dont get it.

  the gb moved to patterson and are conducting business from there, right?

  they are not printing as much literature as they once were and they are still operating walkill for the magazines...er a ....pamphlets.

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  OrphanCrow

  It probably has to do with tax laws for non-profits.
  

  Building a world headquarters is likely an allowable expense for charitable purposes. It is a place to put their money.

  It will have nothing to do with religious matters or growth and everything to do with what they are allowed to spend their money on and not pay tax.

  Oubliette: Actually, one of the GB, Guy Pierce, publicly admitted at the 127th annual meeting of the Watch Tower Society, held on October 1st, 2011, that they did NOT know if it is/was Jehovah's will or not to do this.

  Yeah, they were probably waiting on a tax ruling.
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  11

  Top Five Things...

  by FusionTheism in

  1. jw
  2. friends

  what are the top 5 things you hate most about the jw organization and top 5 things you like most?

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  OrphanCrow

  Don't like

  1. That it is a patriarchal organization that promotes the oppression and abuse of women

  2. That they give out false medical information concerning blood that results in needless deaths

  3. That they promote elitism and the consequence of that is the spread of hatred

  4. They lie

  5. They don't tip well

  Like:

  1. Their lies are easy to spot

  2. They don't come to staff Xmas parties

  3. They bring literature to my door that I can use in my artwork

  4. They make good subjects for academic research into how authoritarian religious thought is harmful to social behaviour

  5. I don't have to buy Xmas gifts or send birthday cards to them - saves me money
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  42

  I need help with this one. What do you think I should do?

  by Quarterback in

  1. jw
  2. friends

  my 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.

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  OrphanCrow

  Quarterback: Come on now, What more can be done?

  Quit going to meetings.
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  40

  Canada Branch Finances - What's Going On?

  by berrygerry in

  1. watchtower
  2. beliefs

  an 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?.

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  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.
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  55

  Are Jehovah’s Witnesses losing the War on Apostates

  by Watchtower-Free in

  1. watchtower
  2. beliefs

  found this.

  http://jwalumni.org/2015/06/08/who-are-jehovahs-witnesses-september-watchtower/.

  by misha anouk on 8. june 2015 in news

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  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.
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  40

  Canada Branch Finances - What's Going On?

  by berrygerry in

  1. watchtower
  2. beliefs

  an 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?.

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  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.

  http://drache.ca/articles/charities-article-archive/non-profit-organizations-and-the-income-minefield/
  

  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 in

  1. watchtower
  2. beliefs

  an 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?.

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  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 in

  1. watchtower
  2. beliefs

  an 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?.

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  3. 
• 

  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.