Are they the relatives of the former founders of the w.t.s.?
Who owns the large amount of w.t.s. real estate?
by jwblog 4 Replies latest watchtower scandals
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blondie
The WTS is run as a non-profit organization, where no indvidual or individuals "own/owns" the property, but a corporation (s). This is required criteria for them to retain their tax-free status.
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170.
The organization must not be organized or operated for the benefit of private interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence over the organization, an excise tax may be imposed on the person and any organization managers agreeing to the transaction.
Section 501(c)(3) organizations are restricted in how much political and legislative (lobbying) activities they may conduct. For a detailed discussion, see Political and Lobbying Activities. For more information about lobbying activities by charities, see the article Lobbying Issues; for more information about political activities of charities, see the FY-2002 CPE topic Election Year Issues.
http://www.irs.gov/charities/charitable/article/0,,id=96099,00.html
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Roddy
Blondie, you never cease to amaze. You are an excellent resource of information.
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yadda yadda 2
You're wrong Blondie. It's owned by Jehovah. And it's not actually 'real estate' now - it's 'holy property'. It has turned into a holy, sacred thing just like your contributions turn into as soon as you drop them into the contribution box at the kingdom hall. Sheesh, it's like asking "who owned the temple and ark of the covenant?" in ancient Israel's time.
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Edward Elder
Seeing as 'you can't take it with you', I suggest that those who own / benefit from the amassed fortune are those in authority (i.e. Bethels) who use it every day of their lives in their 'House of God'.
I recently toured a Bethel in a Western European country and was disgusted by the luxurious nature of their offices etc.
Compared to most secular facilities they are in the top quartile - all this expense of course provided by the dubs.
Obviously, you need leather furniture, deep pile carpets, oak desks etc. to feel close to God.