I just purchased the 2006 Annual report for the Australian Watchtower Bible and Tract Society. Below are the highlights. Most incredible is that donations dropped by almost 50%, from 15 million dollars to only 10 million dollars. This seems almost unbelievable. I don't know if there is some other reason explaining this, such as donations being syphoned off to other entities, but if the fall is real the WTS must be heading into a state of panic. We can expect a lot more pleas for money in upcoming magazines and at conventions etc.
2006 annual report
Review of Operations
A review of the operation of the entity during the financial year and the results of those operations are as follows:
The entity continues to provide literature and Bible educational programs to the members of the public at no cost.
The entity is still committed to further overseas aid, including building projects which will result in continuing cash outflows.
(The total spent on supporting overseas building and aid projects is listed under Administrative Service and was $6,313,412. How long can overseas projects be supported if donations are falling in developed countries?)
Principal Activities
The principal activities of the entity in the course of the financial year were to promote the Christian religion and study of the Bible, in accordance with the beliefs of Jehovah’s Witnesses by the dissemination of Bible truths, both orally and by printed word, by charitable work for the relief of poverty, by establishing and maintaining private Bible schools and classes for instruction and by Christian missionary work and support facilities, both in Australian and overseas. No significant changes in the nature of these activities occurred during the year. (??? what is this supposed to mean. It is common knowledge the WTS does not support charities. Their definition of poverty relief is conversion)
Income Statement
for year ended August 31 2006
Income 2006 2005 2004
Donations 10,684,802 15,523,039 12,375,661
Total Income 10,912,167 16,434,005 14,370,864
Surplus/(Deficit) (3,322,937) 715,901 610,036
Balance Sheet
Total Assets 27,185,649 30,545,850 28,361,216