After all the real estate sell offs, Im confidently sure that the WTS must be a flush with cash (well at least for the present time). I cant believe how blissfully un-aware the local dubbies are about where the money has gone and what it is been used for. So my question is where has all this money gone?? I have seen no evidence of big spend ups, and if anything they are cutting back. I dont think they would be stupid enough to put it into hedge funds as they already got bitten by ex-jws who found out about it, and it just aint a good look for gods organization. Im guessing its been invested into something, but just what is my question? It would be silly to leave that amount of money in the bank. If they were to put it into shears/stocks would they have to make a public record of it. If the tax department found out about their business interests how would this effect their tax free status. Just curious really. Your thought plz.-
Where has the money gone??????
by joe134cd 27 Replies latest jw friends
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Billy the Ex-Bethelite
WT will certainly never open their books for an audit.
As long as they have the protection that the US gives to religious organizations, nobody will ever know.
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blondie
The WTS has at least if not several non-jw companies that invest for them. A search here on JWN might lead to names of these companies.
The cash flow from the sale of publications to jws ended in 1990, the drop in the market in 2008, perhaps a drop in contributions from jws to the WTS (market affected them too), and a move to sell all the Brooklyn properties. Non-profits can have business dealings but must follow certain protocols.
It takes quite of bit of cash flow to run the factory and residence buildings. I work for a government department that monitors 18 large institutions and 11 smaller ones. The capital budget for building new and maintaining existing is quite large and does not include wages which is another budget. So it does not include the money that the WTS does not pay to the Bethelites.
It might help to read up on non-profits and the rules in your state and the IRS.
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Captain Obvious
They're gonna need it for the new cult compound in Newark.
Tonight during the announcements they talked about the floods in southern Alberta, we were reminded that any donations to help should be made to the worldwide work... The arrogance is incredible.
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gingerbread
According to the Pew Forum (Pew Report) under demographics of Jehovah's Witnesses, 42% of the membership in the US earn LESS than $30,000 per year. And 70% of members hold a high school diploma without further education or training - or failed to complete public school (drop-out) altogether.
The long term reality for the WT's donation pool is bleak.
The growth rate in the US of membership is minimal - look for baptismal numbers on JWN for this years convention. According to Pew, only 37% of people that were raised as Jehovah's Witnesses remain in the religion - 63% of children born in/raised in will leave 'the truth'.
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sosoconfused
They have a compund in Newark New Jersey?????
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slimboyfat
gingerbread you seem to be making the assumption that poor people donate less to their church than rich people.
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?evrything
Somebody needs to hack these clowns already.
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gingerbread
Yes. History shows that low income adherents to a faith freely give most if not all of their surplus income (to the church).
This is a sustainable model for a religious organization when the membership is a growth phase. And, when the culture of the organization encourages personal growth. Wealth flows 'uphill' in religion.
Organizations (religious or otherwise) that give back to their community develop strong local support systems. Jehovah's Witnesses - as a group and often as individuals - do not 'invest' in personal development, financial growth, social programs or crisis/dependency counseling.