List of 100 Watchtower Corporations [Reposted and Updated]

by Amazing 34 Replies latest jw friends

  • Amazing
    Amazing

    jgnat,

    Thanks for posting the financial information. Someday US non-profits will have to do this too.

    Only the Congregations have members. The Circuits and Assembly Halls are administrative entities only. Of all new giving, about $8 million is funnelled through the assemblies and circuits back to the Watch Tower Society, Canada. In turn, the Canadian office is contributing over half their income ($15 million) overseas (US Bethel?).

    Yes, you have a good point: When 500 to 1500 JWs show up at an Assembly Hall, they give donations that more than cover operating expenses (usually). And the revenue from the food sales also runs a profit (usually). So, the surplus funds are donated by vote back to either the Branch office in each country, or to 'mother' in New York. The idea is that these are 'donations for the worldwide work' and are not declared profits. Of course, the main office in New York then uses these 'donated' funds from Canada and other nations to continue its operations. JWs then donate through their Kingdom Halls and at times directly. They also 'donate' for the literature which covers the cost, and does not make the Society dependant on the 'donations' form the householders. But they get that money too. Also, large and small estates are donated ... and the Society holds many large assets which, is sold, can turn a healthy profit ... but as long as they are not giving dividends to Society stockholders, and retain the funds for non-profit religious use, then it goes untaxed ... and it accumulates and must be invested or put in accounts off shore (Swiss Bank maybe?).

    It works similarly in business. I operate retail plazas and condominium projects. The only 'profit' in the plazas is the direct draws the owners take each quarter. These are equivalent to dividends. All other funds retained by me are considered operating funds. We can pass from one year to the next with as little as $200 to as much as $50,000. However, the difference is that income property owners want the 'profits' and are willing to pay the tax to get it. Also, they are operated for profit. But, as long as we retain funds in our operating account and reserve account, it is not declared profit, and is not taxed.

    Jim Whitney

  • journey-on
    journey-on

    Amazing. Wow...this took a lot of work and research and we thank you. You, too, jgnat.

    Do either of you know if any of the fat cat officers of these corps. have their own personal corps. set up that perhaps "service" the WTBTS with vendor-type companies or service-type companies?

    I have to also wonder if those hidden officers might have side businesses either in their name or a family member's name that might be beneifitting from the org.

  • Terry
    Terry

    Here is my question: who does the auditing of the cash? Outside parties or inside parties? Secular or "connected"?

  • jgnat
    jgnat
    So, the surplus funds are donated by vote back to either the Branch office in each country, or to 'mother' in New York.

    What I found interesting in my review of the tax returns is that congregations and assembly halls DONATE THE SAME SURPLUS every year. Except for that jump in donations one year that I noted. That tells me that "mother" has directed her child organizations how much they are to donate.

  • Amazing
    Amazing

    Journey-on:

    Do either of you know if any of the fat cat officers of these corps. have their own personal corps. set up that perhaps "service" the WTBTS with vendor-type companies or service-type companies? ... I have to also wonder if those hidden officers might have side businesses either in their name or a family member's name that might be beneifitting from the org.

    I doubt it. They may have wealthy family ... but the power and prestiege of leading a $ multi-billion corporation with near absolute control over the lives of over 6-million people is keeping them pretty busy ... you know, worrying about what new rule to create to DF people or increase magazine sales. There are JWs who I believe have businesses that provide services ... take a look at Bethel Tours, Inc.

    Terry:

    Here is my question: who does the auditing of the cash? Outside parties or inside parties? Secular or "connected"?
    I don't know for sure ... Our congregation and Circuit audits were always in-house. I was one of the auditors. ... But, I suspect that the Society has either trained, or sent JWs to business school so they can keep their audits in-house ... not necessarily because they would have anything to hide (though they could be hiding at least one thing I know about) but because they do not want to divulge what they deem to be private. Jgnat:
    That tells me that "mother" has directed her child organizations how much they are to donate.
    When I participated in Circuit activities, and attended the Elder's meetings at Assemblies and Conventions, I do not recall the Society demanding a set donation. What happens is that the Society directly finances the construction costs. (The labor is almost totally volunteer, and many materials are donated) The costs represent acquisition of land, permits, and needed services that the JWs in the area do not have the skills or license to provide. The Society expects a set payment plus interest (somewherer between 3% to 6% depending on various factors). This can be made in the form of a donation to cover operating costs and mortgage. Ultimately the Society, I believe, owns many of the local corporations that own the Assembly Halls (or sometimes the Circuits do). Either way, it can make it appear to be a charge, when in fact the Society is recovering costs. The Society does not want the Circuits and District Convention corporations retaining large cash holdings ... they do like many holding corporations and keep the subsidaries on a low or even zero reserve budget. Jim Whitney

  • garybuss
    garybuss

    You wrote: I suspect that the Society has either trained, or sent JWs to business school so they can keep their audits in-house ...

    Why is it that at the upper Watch Tower Society levels there is virtually 100% worker satisfaction? Ever think about that? The one exception in the last 50 years was Ray Franz. Nobody else leaves, nobody talks. Why's everybody else so happy?

    See, the contrast is with the congregations where worker satisfaction is in the basement and turnover is as high as a bad movie. Why so much difference between turnover at the congregation level compared with the corporation level?

    No Watch Tower Corporation auditor left . . . ever? No attorneys left in the last 50 years? Even Ray Franz didn't talk about corporate structure or money that I ever read. Why's that I wonder . . .


  • greendawn
    greendawn

    It looks like a very complicated, labyrinthine, system as if they have something to hide by creating it. We will never know their financial secrets such as the real extend of their wealth and the nature of their assets unless an insider decides to talk but those doing the accounts are probably sworn to secrecy. My suspicion is that we don't know the real owners and rulers of this business who are hiding inside this maze and the GB are just puppets and a concealing front.

  • Paralipomenon
    Paralipomenon

    I would think they would get better anonymity by using an accounting firm. Firms would have zero interest in disclosing a multimillion dollar client's secrets.

    They've already shown they trust "the flock" little to none.

  • jgnat
    jgnat

    K, for geeks like me, the 2006 return is just full of little nuggets. The Watch Tower Society (Canada) in it's abundant munificence, paid out a total of $8,050 to three needy congregations. Their charity underwhelms.

    #

    Qualified donees

    1

    Name of Qualified Donee: SOUTH CONGREGATION OF JEHOVAH'S WITNESSES, MARKHAM, ONTARIO
    Location: MARKHAM, ONTARIO
    BN/Registration Number: 119288918 RR 1345
    Total Amount of Gifts: $ 5,000
    Amount of Specified Gifts: $ 0
    Associated Charity: Yes

    2

    Name of Qualified Donee: LA CONGRÉGATION DES TÉMOINS DE JÉHOVAH MONTREAL-LAFONTAINE
    Location: MONTREAL, QUEBEC
    BN/Registration Number: 132591439 RR 0001
    Total Amount of Gifts: $ 3,000
    Amount of Specified Gifts: $ 0
    Associated Charity: Yes

    3

    Name of Qualified Donee: TAGALOG WEST CONGREGATION OF JEHOVAH'S WITNESSES
    Location: TORONTO, ONTARIO
    BN/Registration Number: 119288918 RR 1413
    Total Amount of Gifts: $ 50
    Amount of Specified Gifts: $ 0
    Associated Charity: Yes

  • wannaexit
    wannaexit

    Name of Qualified Donee: TAGALOG WEST CONGREGATION OF JEHOVAH'S WITNESSES
    Location: TORONTO, ONTARIO
    BN/Registration Number: 119288918 RR 1413
    Total Amount of Gifts: $ 50Amount of Specified Gifts: $ 0
    Associated Charity: Yes

    What can a congregation do with $50.00??????

    Is this how they show they world what a great charity there are?

    wanna

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