I would love to get my hands on a balance sheet for 2010, 2009, 2008, etc. I wonder how much money they have. I wonder if they should have it. I wonder if they will ever lose it all.
Timmy xxx
Does anyone know the value of NET assets owned by the Watchtower?
by TimothyT 21 Replies latest watchtower bible
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Awen
Originally posted by DogPatch aka Randy Watters of Freeminds.org
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Anony Mous
They have a lot, they are losing it. There are less and less people in the congregations that want to support the organization because they know something is going wrong even if they don't want to voice their opinion or leave. I have seen a 50% reduction of donations to the Worldwide Work over the last 3 years from our congregation and a small uptake in donations locally but we've also had a growth in numbers (mainly DF'ed people coming back and kids getting dunked). Also, the recession globally hits people worst in the sociological groups the JW's generally find themselves in (low income, low education) so there is less flexible income.
The call for more pioneers puts an even bigger damper on donations per publisher although such people are easier to retain. Locals now have to help them instead of the organization and they themselves (if they are sincere) don't have a full time job, some can't even support themselves anymore and move back in with their parents or other pioneers (several in our congregation have done that).
Also, expansion is majorily in non-affluent areas of the world (Africa, Asia). There has to be massive financial support to further the building of KH's there and that's the only way they are going to get more followers. There is a reason they are putting ATM's in the Assembly Halls and Convention Sites. They are bleeding money even though there is still a big income, the expenses are growing out of control. The RBC arrangement is a ploy to keep the locals in check and generate publicity but they are massively overpriced for every project and even though they have supplier arrangements, locals that are in the trade tend to ignore it and use their own supplier where they usually get a commission which puts the price for those products about 15-25% higher. I've seen one local skim off about $5,000 in commissions on each project (which is not re-donated).
The problem is liquidity however. They're attempting to sell properties all over. One congregation moved into our hall recently (so now we have 3 congregations in 1 building, the real reason why we only have 2 meetings a week now) and others were relocated as well in order to sell 2 buildings locally. They got $12,000 for one (sizable property too) and nobody wanted to buy the other one. Property here is fairly cheap but $12,000 is what you get for a house that is totally run down, condemned by the city and boarded up.
Also, States and Cities are tightening the belt and are giving religious organizations in general less tax breaks, incentives and financial help. They are starting to see it's just another big business and want to get some of that income too.
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dozy
A Bethelite who worked in the accounts dept in Brooklyn told me that the very rough rule of thumb was that each publisher was worth about $1500 net to the WTBTS , but this only applied to 1st world countries. So very roughly , about 4 billion $.
To illustrate - in the UK where the WTBTS has to publish accounts , net assets are approx 50 million GBP. This excludes Kingdom Halls & assembly halls which very roughly I would guess would add another 100 million GBP (1000 KHs with on average 70k net value after mortgages plus assembly halls). I believe Canada showed a similar ratio.
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Band on the Run
Can anyone hazard a guess what their liquid assets are? I'd love to know their stock holdings.
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OUTLAW
Cut and paste from another Thread:
http://www.geocities.com/le_thanh_y/WatchtowerMakeBomb/CigarShares.htm
also Here
Same scans in many sites.
H. M. Riley Trust for Watch Tower Bible and Tract Society
P.O. Box 75000, MC 3302
Detroit, MI 48275
Type of foundation: Public charity
Fiscal Date: 04/30/06
Assets: $2,239,563
Total Giving: $2,918,469
EIN: 386043103
Most Recent IRS Filing: View Form(s) 990Follow the link to be taken HERE...
H. M. Riley Trust for Watch Tower Bible and Tract Society
P.O. Box 75000, MC 3302
Detroit, MI 48275 See below for most recent IRS filings:
About the IRS Form 990Can anyone make out the signature on page 8 of the 2006 PDF ?
Page 16 states that there is no relationship between the donor and the donee (I wonder whether that means famiy relationship or relationship in the broader sense?)
2006 lists shares in (among others)
- Harley Davidson
- Pfizer
- MBNA
- Bank of America
- Bed Bath & Beyond
- Colgate
- Proctor & Gamble
- Wal-Mart
- Exxon Mobil
- Johnson & Johnson
- Microsoft
........................;-)...OUTLAW
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OUTLAW
I see one Left out..Tobacco Giant Philip Morris..
Yep..
The WBT$ is invested in Tobacco..
......................;-)...OUTLAW
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TimothyT
Wow thanks Outlaw. In many ways, i am appaled!
For all those years when i was at the meetings, we were all told that the reason why this organisation has survived is because of Jehovah's spirit. MAJOR BULLSH*T RIGHT HERE! A real good reason for its survival has been the totaly business like notion of putting ones fingers in more than one pie. This is not a religion to me. Its definately a business. Where is the tobbaco reference? I cant see it, but if so then that is even more shocking.
What about all that about the true religion being from Jehovah and him blessing it and not letting it fail. "Actualy brothers, we mean to say its thanks to Microsoft, Harley Davidson and Johnson and Johnson. They are actualy blessing our work."
Thanks for the research Outlaw!
Timmy
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OUTLAW
Your Welcome Tim..
Actually it`s other peoples work I`m just passing along..
The WBT$ Also owned Shares in The Rand Cam engine Corp.
Rand Cam makes engines to deliver bombs to thier target..And..Engines for military remote aircraft..
WBT$ owned 50% of Rand Cam..
A few years ago..The WBT$ name was taken off the Rand Cam Stocks..
I owned 500 shares and sold them at a Profit..
The WBT$ and I Profited from War..
They probably still are..Under another Name..
.....................;-)...OUTLAW
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Mr. Falcon
Outlaw, what's up, my fine-feathered friend?
Hey, do you know where I can verify the Phillip Morris/WTBS connection? I would love to have that info to blow some minds!
thanks!
