What is the WTS financial position? (page 2)

GoingGoingGone

“It was a failure to get coal supplies in 1918 that drove us from Brooklyn back to Pittsburgh,” Brother Rutherford replied. “Let’s make coal the test. You go and order some coal.”
“How many tons do you think I should order to make the test?”
“Well, make it a good test,” Brother Rutherford recommended. “Order 500 tons.”

This story always bothered me when I was a JW, considering the scripture in Deut. 6:16: "You must not put Jehovah your God to the test." Although, what do I know... maybe there were special rules for Rutherford. GGG

OnTheWayOut

It has been reported (but call it rumor) that they have accelerated the turning over of Kingdom Halls
to WTS. Once the mortgage to WTS is paid, the trustees of the hall sign the deed over to WTS.
They are told this is to prevent the hall falling into apostate hands, legal mumbo jumbo to "protect"
the brothers and sisters.

I think the Kingdom Halls are just their next sell-off when they need cash for pedophile payoffs or
other problems. They will dissolve congregations in better, easier to sell KH's. Afterall, the numbers
really are in a downward motion in the U.S. and other established countries.

On bookstudy arrangements removed from the homes, don't forget that the Bethelites are now mostly
in rural NY state. To send them to one-hour meetings on a weeknight would involve reimbursing their
transportation costs. It might seem small to us, but cashflow is cashflow. Also, with the books being
studied "briefly" at the hall, there isn't as much need to come out with a new book every year or repeat
the REVELATION book so often. More money saved there, too.

Also, expect District Conventions to go to 2 days and circuit assemblies to go to 1 day, allowing more
use of the Assembly Halls for these and less renting of facilities. They haven't done this yet, because
(IMO) they are still making money off the old arrangement. If they think they can squeeze the same
money out of 2-day conventions, they will drop the Friday.

Notice in the United States that there is a huge push for Foreign Language. District Conventions in
Assembly Halls for foreign language (sign language is included) seems to be up for 2009. I think they
want these events to be more convenient with less travel. They so want to have some positive (or
not terribly negative) numbers for growth in the U.S. that they are putting all their eggs in the
foreign language basket. Kingdom Halls for the English-Language: prepare for the real estate sell-off.

Gladring

Ok, so I was going through some of the info on the links from dozy's post.

"Literature with a value of £2,400,000 was donated overseas, mainly to Africa."

http://www.charity-commission.gov.uk/registeredcharities/SIR/ENDS61%5C0001077961_SIR_07_E.PDF

How do you place a value on literature produced by volunteers using money given by volunteers? Is this the kind of humanitarian aid the WTBTS provides?

Related parties
Watch Tower Bible and Tract Society of Britain (the Society) works closely with International Bible Students Association (IBSA),
which permits the Society to use its facilities for the Society's charitable activities, and provides accommodation for volunteers.
IBSA makes a monthly service and maintenance charge to the Society for the facilities it uses and for providing accommodation for
volunteers connected with the Society's activities. The Society passes to IBSA the cost incurred in printing and distributing the Biblebased
religious literature manufactured and delivered to destinations on its behalf, and all other overhead costs.

Income from literature sold to IBSA 6,494,000

Income from literature donated overseas 2,710,000

Ok, so the literature is not for sale??? hmm... I guess the IBSA just made some "voluntary" donations for that literature then.

Also - they made an income on the literature they donated overseas????????

I found this too:

Reserves policy
Because of the nature and sources of the charity's income, the charity can plan confidently with relatively small reserves. The
established policy is to ensure that it has on hand in liquid funds at least 3 months working expenditure. At the year-end, the liquid
assets on hand were equivalent to 4.2 months of expenditure (2006: 4.2 months).

If everyone stopped donating, they would not have long before they had to start selling off assets.

Are there any forensic accountants out there. There sure is a lot of money going in a strange roundabout but I can't make sense of it.

dozy

IBSA accounts (holding company for the UK Bethel buildings)

http://www.charity-commission.gov.uk/ShowCharity/RegisterOfCharities/CharityWithPartB.aspx?RegisteredCharityNumber=216647&SubsidiaryNumber=0

Bonnie_Clyde

In our circuit the Regional Building Committee told one of the congregations they were going to have to sell their hall and build a new one. Their hall was beautiful and there was nothing wrong with it, but it was built just before the RBC was formed so maybe it didn't meet their criteria. So the congregation obediently sold their hall, bought new property, then found out the new property was not suitable for building. For at least 3 years now all the witnesses have to drive another 10 miles to a hall in a neighboring city. Their old hall was sold to a local college and they got a real good price for it, but all the money was sent to the WT, and the local witnesses have no Kingdom Hall of their own.

But they did what they were told...I think the phrase is, "strictly obedient."

rebel8

I don't get it--what evidence points to a financial downturn for wts? They sold a piece of real estate in one of the most expensive real estate markets in the world (right?). Aren't they selling the farm now? Big $.

Their numbers are growing (more donors) and they are getting more stringent about collecting $ from the khs and ass-emblies (more income).

I see they're divesting ownership of khs and stuff like that, but couldn't that be just legal maneuvers to protect themselves from liability?

Their attorneys are volunteers, and I'm not sure, but wouldn't a few hundred thousand $ in lawsuit settlements here and there be kind of a drop in the bucket?

chicken little

That is an interesting point relating to the so called donation of literature to Africa. The witnesses still charge for their placements of literature in Africa, so they are getting the money back maybe threefold. The local brothers probably also are told to donate for the literature before they go out and place it.

I remember questioning the whole "free literature" set up in the US and Europe...didnt the poor people in third world countries need it the most to be free? I was told they would not appreciate the literature if they got it free! That is such a joke, I see the magazines chucked in the bin and on the floor so often after the dubs have been out giving the magazines away! The whole donation set up was a tax scam and never understood by the rank and file.

Chicken little