How can a non-profit give out loans with interest?

by ackack 2 Replies latest watchtower scandals

  • ackack
    ackack

    I was wondering how the WTBTS can maintain their non-profit status when they are charging interest on loans? Doesn't this contravene their non-profit charter?

    I have no idea how this stuff works, but I was hoping someone who knows more about this could answer.

    ackack

  • skinnyboy
    skinnyboy

    because they cook the books and bend taxation laws as far as they legally can go. i used to work for a brother in my old hall, he was doing every scam there was. I happened to be a bit pissed off about him paying his wife a wage when she didn't work a day in her life or only popped by the office to drop her hideous children off, i happened to mention this to someone else, and i was dragged into the bookroom after a meeting to apologise to this cretin for bismirching his good name FFS! I told him no, i stand by my belief that your a crook and will hope the elders here see the same as I do. Turns out he was after all! Result!

  • blondie
    blondie

    I do believe in the US at least that the WTS has stopped charging interest on loans. Part of that downward crap slide starting in 1990 with the end of charging for the publications, then not charging for food at the conventions. The IRS is scrutinizing religious groups closely.

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