WT totally out of Brooklyn

ShirleyW

Between my last logon on at 6pm and now 8:40 i received 5 google alerts about the Jdubs totally selling all their property in Brooklyn . . . I've said it before on this site and I'll say it again . . . WHO'S POCKET DOES ALL OF THIS REAL ESTATE MONEY GO TO !!!!!!

blondie

The WTS and its sister corporations are non-profit corporations with trustees who have no personal ownership of their assets. The monies have to go back into the corporations. Failure to do so would mean the WTS risks losing its non-profit status and be subject to US taxes.

ShirleyW

I hear what you're saying Blondie, but as in all corporations, if they're bringing in the money, somebody's pockets are benefiting.

And if they're membership numbers are dropping, why build more KH's and Assembly Halls and Bethel dorms anyway?

agonus

hopefully to more child abuse victims (via out-of-court settlements)

OnTheWayOut

When properties, especially large business properties, change hands, there are lawyers and bankers and such that benefit. JW's hire JW's to draw up contracts and inspect and file stuff. Don't believe that they have "volunteers" doing that for free.

But the bulk of the money goes into their general fund, the same one that is supplied by the boxes labled "Worldwide Work" at the Kingdom Hall and the same one supplied by money in the boxes at the conventions. They don't really account for all the money in their general fund.

WalkTall

They are planning on building two more huge compounds on large tracts of property recently purchased in upstate NY for millions of dollars. I still can't figure out why they are needed.

sir82

And if they're membership numbers are dropping

The numbers are not dropping.

There is still significant growth in 3rd world countries, and western lands are holding their own or even increasing slightly due to concentrated recruiting efforts aimed at 3rd-world immigrants.

I expect that there will continue to be growth, albeit small, over the next decade or 2.

Their real problem is cash flow due to decreasing contributions. Selling their Brooklyn properties should solve that problem for many decades (barring Catholic-level child abuse lawsuits or lawsuits over blood issues).

DaCheech

non-profits are still allowed to give pay to any "employee" they want.

non-profits can still give all paid expensed out vacations to any "employee" they want

WT totally out of Brooklyn

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