by smiddy 7 Replies latest watchtower beliefs
Just asking .
When an organisation makes money from investments , contributions , bequeaths , real estate , etc., dealings , where does it go from a not for profit organisation to a profit organisation .....I`m confused ....Where is the line of demarcation as to what is a not for profit and a profitable organisation.
smiddy
Stab-in-the-dark:
that there are no shareholders receiving dividends from the money pouring in, and that all funds must be "accounted" for, as being used solely for the "charitable" purposes as laid out in the charity's own statement of its aims and purpose.
P.S. Who therefore is responsible for vetting and publishing those accounts? Can a charity in the U.S. or U.K. refuse to divulge its accounts?
Charities in the UK are required to publish their accounts. The WT nest of interlinked charities can be checked by going to the Charity Commisin website. Even individual cones are now registered as charities and their accounts are public.
As far as I know there is no such requirement in the US. It constantly amazes me that although all this money is contributed by the bruvvers there is no transparency whatsoever as to where or how it is used. There may be no legal reason to publish but is there not an ethical or moral one?
In the US if you're a "religious organization" you qualify as tax exempt unless you are audited and subsequently excluded. I have filed the exemption forms for the congregations in the past and basically you "self-document" that you are a "church" and you're good-to-go.
Doc
WT is most definitely a non-prophet organization.
The accounts of non-profits must be published in Canada, too. The WTS lists its charitable activity as public education (distribution of the magazines, duh). The general thought with non-profits is that they won't thrive if people don't support what they are doing. It's a matter of donor beware. In the US, there are several websites that track non-profits and their relative performance. Guess if the WTBTS contributes to these registries.
http://www.charitynavigator.org/
Yes, charities are under greater pressure to be transparent in their dealings.
Watchtower Bible and Tract Society of New York EIN No: 11-1753577
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