I agree with Fink. The most obvious answer to their money problems is that they over extended on their infrastructure anticipating revenues were going to grow yet likely their revenues stayed flat or maybe even declined. If they declined, the reason is likely because members either 1) still show up like me but have purposely closed their wallets (probably a minority) or 2) simply can't afford to give as much or more than they used to because incomes have been stagnant and the average JW according to the Pew study makes less than pretty much any other religion. I really think #2 is hurting them the worse. When you tell people to simplify their lives to do more knocking on doors and to limit the amount of education they seek, you've hurt your revenue base. Growth in wealthier countries is much lower than in developing countries which means you have more people but less money per person. For example, if they thought when they got to 8 million members that each person would contribute an average of $10 per month (just using numbers for example, I have no idea what their model calls for), then you get 80 million per month. Yet, now they are at 8 million but people are only contributing $5 per month because the growth is coming form places where disposable income is less, then you are running at 40 million per month. That's a big hole to deal with. Maybe the numbers aren't that drastic but you get the idea.
Lawsuits hurt obviously but they have money set aside for that and can budget that expense. It's the overall lack of revenues that is the lasting issue. And the GB has admitted they have more going out than coming in. So the solution is to sell assets, cut staff and hunker down while attempting to liquidate as much as you can (ie raiding the local congregations bank accounts for a one time bump).
Oh and there's no way they will lose their tax exempt status in the US. Seriously, ITS NOT GOING TO HAPPEN. The only way would be if the IRS changed their criteria and while religion is waning it certainly is still very powerful and the backlash to removing the tax exempt status from any group would be fought by all. As much as I think NO religion should be exempt from taxes, that's what we are dealing with at least in the US.