Ownership of Kingdom Halls secretly turned over to Watchtower org! (page 2)

Doubting Bro

Blondie is correct. Also, less common but still out there is ownership is held by the congregation in trust. Then, 3 elders are designated trustees. I think all of the halls built in the last 20 years are likely held by the non-profit corporation that Blondie outlined because in the event of the congregation being dissolved, ownership could revert to the WTS. Not sure if the by-laws specify or if it would just take a vote by the Board (made up of 3 loyal elders). The WTS has a brochure (of course they do) outlining how these things are to be set up. I've heard there was an effort to get the halls held by a trust to convert to a not-for profit corp but haven't actually witnessed that.

OnTheWayOut

Only when a congregation is dissolved does the property and assets go to the parent non-profit, the WTS.

I am sure that the wording will remain basically the same.
They could be snatching up property in countries where the law is completely
different, but in the US and other established countries where it matters, they
really own the property without owning the property. If they ever need it, they
know what to do to get it. Meanwhile, they have less assets if local nonprofits
own the KH. It makes no sense to snatch up a KH that it being used, until they
are ready to pull the rug out from under the members and run off to the
Caribbean with all the profits. (I can hardly wait.)

A KH in use has no monetary value to them in their nonprofit structure. It must
be sold or rented out. Renting to your own members is a sound idea, but it
causes profit from rent. Instead, they get the members to simply donate the
money to the worldwide work out of love/guilt/pressure. No profit.

I agree that the average member assumes that Mother owns the property anyway.

kool aid man06

Join us on the call and ask Chris the questions your bringing up here.

observador

"This doesn't sound right to me either. Recently my "in" mother asked an elder in her cong about it and he said that the cong owns the hall and it can't be sold etc without passing a resolution thru the cong."

Passing a resolution is an act as innocuous as innocuous can be. This is the same as saying "the fox can't eat any hen unless a group of fox leaders pass a resolution saying that it is OK to eat them".

Observador.

mustang

A KH in use has no monetary value to them in their nonprofit structure. It must
be sold or rented out. Renting to your own members is a sound idea, but it
causes profit from rent. Instead, they get the members to simply donate the
money to the worldwide work out of love/guilt/pressure. No profit.

Be careful to not confuse REVENUE with PROFIT.

Rentals = REVENUE

Donations = REVENUE

Rentals + Donations = REVENUE

((Rentals + Donations) or (REVENUE)) - EXPENSES = (LOSS [Red ink]) or (ZERO [Non-Profit Balance]) or (PROFIT [Black ink])

There could be other sources of REVENUE; but these two are sufficient for illustration.

EXPENSES are the controlling term here. EXPENSES are used to drive the books to the desired ZERO = Non-Profit Balance.

You are in the Black: danger, Will Robinson, PROFIT: BUY SOMETHING NOW!!!

You are in the Red: danger, Will Robinson, LOSS: INCREASE DONATIONS, RENT SOMETHING, GET A JOB, NOW!!!

The books BALANCE: Relax, Will Robinson.

IOW:

Rentals could be a PROFIT or a LOSS; but they are still REVENUE.

Donations could be a PROFIT or a LOSS; but they are still REVENUE.

The Balance Sheet is God

Mustang

VM44

I just visited the Conference Call webpage.

Looks good.

What happened to the Aug 2 conference call though? Removed at the request of MJ's lawyers?

Ownership of Kingdom Halls secretly turned over to Watchtower org!

Doubting Bro

OnTheWayOut

kool aid man06

observador

mustang

VM44

kool aid man06

kool aid man06

kool aid man06

LouBelle

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