by sir82 86 Replies latest jw friends
thetrueone,
: These properties over time have increased in value greatly, making the assets of the WTS. over above one billion world wide, perhaps now of the WTS's recent sell off of their properties in Brooklyn NY close more to 2 billion.
Source for that information, please?
Farkel
"...making the assets of the WTS. over above one billion world wide, perhaps now of the WTS's recent sell off of their properties in Brooklyn NY close more to 2 billion."
This article says the Brooklyn properties alone are worth about 1 billion.
http://therealdeal.com/newyork/articles/a-heavenly-portfolio
When you add in the value of all the Kingdom Halls (almost all owned by the Society), Assembly Halls, Branch offices, farm properties, undeveloped properties, and various other assetts, from all over the world, it seems like the Watchtower net worth would be more than 2 billion.
Just a feeling I have.
Thanks ScienicViewer those are exactly my thoughts
Another article that goes into the propriety holdings in the Brooklyn that the WTS. is involved in selling
http://www.crainsnewyork.com/article/20111016/REAL_ESTATE/310169968
Once its realized how many properties this organization has legal Tittle to around the world, including all the many Kingdom Hall properties.
the estimation of 2 billion does not appear too far fetched.
Like I said before ..... It also goes to show how far, fear induced exploitation and adverse commercialism can do for a religious publishing house.
The Society does not own all the Kingdom Halls, why do you people keep repeating this misinformation???? Kingdom Halls are owned by a local corporation set up by the congregations that use the Kingdom Hall.
If you have been following the story about the Menlo Park congregation you would know this. If the Watchtower owned the title to that Hall then there would be nothing stopping them from selling it off. But since the local congregation owns the Hall, they have had to resort to removing the elders and replacing them with yes-men elders who will do as they are told.
No Apologies
They could have north of 10 million euros had they sold this a few years ago - they must be kicking themselves over the timing.
they self insure their kingdom halls, if there is a "mass" arson of them............. they will be up the shiite!
lol/jk
No Apologies-I remember the first year when I was appointed an Elder that the CO asked for our articles of incorporation and if we had been keeping our annual minutes up to date was pretty much the look on our faces.
*** km 2/06 p. 7 Announcements ***
Regional Building Committees have sample corporation and trusteeship documents to be used for congregation property ownership. When it becomes necessary to update these legal papers, the elders should obtain the latest samples from their regional committee.
*** km 8/03 p. 5 Let Us Keep Our Place of Worship in Good Repair ***
Congregation documents:Are corporation or trusteeship documents up-to-date and accurate? Where required, are property-tax-exemption forms being filed annually?
The Society does not own all the Kingdom Halls, why do you people keep repeating this misinformation???? Kingdom Halls are owned by a local corporation set up by the congregations that use the Kingdom Hall.
Point taken No Apologies
I read somewhere that the WTS. was pushing to have self owned independent Kingdom Halls transfer the land Tittles over to the
WTS. Corporation. It seems like they were encouraging it but left it as an option.
And of course what Mother suggests, the slaves respond.
Irregardless of the WTS not owning the many of the legal land Tittles of KHS, the WTS. does own much properties around the world in their branch
offices and Assembly Halls. Not to mention investment holdings .... stocks etc.
Its important in evaluating the financial wealth of the WTS. to take into account of the increased value in properties owned by the WTS.
Just to give an example the Assembly Hall here in Vancouver is situated in a area where property values have sky rocketed over the years.
That property today would be worth at least 10 million. CDN.
I wouldn't be surprised at all that that land was donated to the WTS. back in 1974, being then in a sub rural area part of Surrey.
Today it sits in a high market value residential part of Vancouver/Surrey .
As I say the WTS. is very rich indeed in what real estate the WTS. owns around the world.
I'm getting the impression that the WTS. is moving right out of Brooklyn completely and moving their HQ to Waikill NY.
Taking with them hundreds of millions of real estate cash with them.
