Hang on a sec... Some of what has been said in this thread just isn't true. Sorry, gotta call it out. We may be upset with WTS for whatever reason, but let's not misinform folks.
2. JW places a magazine and recieves a $10.00 "donation" which the JW then "donates" to the Worldwide Work at the kingdom hall.
This is a fallacy. Sorry. There was a switch to the donation arrangement in the late 80s or early 90s, and it was due to what frankenspeakie mentioned. For a number of years, there was a big push to ask for a donation while placing the magazines with people. There was never any set amount, so not sure where the $10.00 comes from in the above quote. In recent years, it's rare to hear that from the platform or in any article. Almost no one asks for a donation, at least not in the US. So, how do the books and magazines get covered? By what JWs themselves donate. I have collected donated money from the contribution boxes in the past, and I can tell you it's a mixed bag. Some JWs put in a significant amount on a monthly basis (I've seen checks from $50 to $100). Most put in way, way less. In the Kingdom Hall, there are three separate donation boxes. One for the local Kingdom Hall's expenses, which covers mortgage, utilities, restroom supplies, etc. One for the Worldwide Work, which covers expenses for missionaries, disaster relief, and anything else the corporation deems the money for. And one for the Kingdom Hall construction, a special fund where individuals can donate so that Kingdom Halls can be built in other areas of the world. The congregation I currently attend sends about $700 per month for the Worldwide work and around $400 per month for Kingdom Hall construction. For a congregation with over 100 JWs, that's not all that much per capita.
5. The Watchtower Society pays no car insurance premiums, gas or salary to the JW.
This is true, but the WTS does not benefit monetarily via insurance premiums or fuel when a JW participates in the ministry. This does not answer the original question.
And the Watchtower has had a policy of having people donate their houses and land to the "society" or corporation even before they die ?
I'm not sure where this one comes from. To my knowledge, there is and never has been any such policy. If I'm wrong, please show a quote. There is, however, a Charitable Planning department, and the WTS twice yearly discusses ways JWs can name the WTS as the beneficiary upon death. However, this is completely voluntary.
Are donations voluntary/private? Do people have to contribute or can they get away with no donations and still be a member?
Voluntary, yes. Mostly private, too. Only those handling the accounts (which are generally two men in the congregation, maybe a third as a backup) know what some give if they donate by check. Donations are not required.
Are elders paid?
Not one penny.
Do the members of the Gov Body live modestly (if anyone knows)?
They live as Bethelites, meaning they live at either headquarters or the Patterson Branch in a small, but nice apartment. Their needs are completely taken care of, just as any other person who lives at any Branch around the world. To my knowledge, they do not live in outlandish luxury. They do get paid trips all over the world because they go give talks, visit other Branches, etc., so there are perks. This topic has been discussed on this forum before. You may want to use the search feature.
I wonder where the money goes as the income seems high and costs seems low but many imply their finances may be tight.
Building projects (lots and lots of these), more investments in recent years in audio/video production equipment, ongoing costs in printing, disaster relief effort (mostly to JWs only in disaster areas) and apparently lots into legal.
This doesn't fall into the category of making money, but it is one way that the corporation gets things done at a significantly reduced price. As was mentioned, all labor is free. The distribution of literature: free. Printing production labor: free. Maintenance on corporation owned property: free. Building new Kingdom Halls, Assembly Halls, Branch expansions: all free. JWs generally consider it a privilege to donate their time, money, equipment and expertise to work on these projects. The exception to this is anyone appointed as "International Servants" where they go from country to country to work on these building projects. These are essentially treated as Bethelites in that they get a stipend for living expenses, but at least their travel is paid for. Any involved in international construction projects who are NOT appointed specifically as "International Servants" have to foot the travel expenses themselves, but they usually are housed at the local branch at no cost.