How does WTBS keep charitable Status?

by termite 35 4 Replies latest watchtower scandals

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  termite 35

  Does anyone know how they qualify for charitable status when the charity they donate to is themselves?!

  What are the conditions for being tax exempt due to C.T?
  It seems so odd that they can claim this just for making their accounts public-you can hardly compare what they do to Christian Aid or the RNLI, can you?
  I know there was the Aid Afrique set up; but as that was them it hardly qualifies ,does it?
  Does it matter to the charities commission that they donate to themselves-even if it is another country?Surely it must or all companies would be on to this loophole...
  Is it because they have a religion tag?Are the mags considered to be the 'donation'?-'FREE' bible literature=CHARITY?
  Does anyone know anything about this? I don't, but i'd like to !!
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  Farkel

  : How does WTBS keep charitable Status?

  That's easy. It donates 100% of its proceeds to itself.

  Farkel
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  Beans

  I can`t remember who came up with this but it really relates to this thread!

  The Society is a Bank!
  Lets see.
  Congregations lend the society their money.
  The society invest in stocks and shares.
  They make a profit on the money lent.
  They pay a small amount of inerest to the congregation.
  The society keeps the profit.
  They also give loans to congregations , that must be paid back.
  What is the difference betwwen that and a bank?
  Also note.
  The congregations need halls etc for their worship.
  The society suppossed to be Gods temple on earth or centre of worship.
  Gods temple is used as a bank that make a profit on those seeking to
  worship him.
  Didn't jesus beat the money changers out of the temple for doing the
  exact same thing?

  Hmmmmmm, found it in a thread makes a lot of sense!

  Beans
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  termite 35

  Thanks both of you;I think i'll have to get some info on the rules governing charitable status and tax exemption-surely the governments can't be so stupid as to allow the WTBS to donate to themselves and thus pay no tax,when they can clearly see the monies accumulating and being sunk into property etc;It beggers belief when you consider how much revenue they're missing out on-I hope they crack down on them soon...
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  Jim_TX

  The IRS section that covers the 'non-profit' status that organizations apply for is 501-C3.

  I know, as I started a Computer User group many years ago, and filed for this status. It is a simple thing to do - it gets difficult to keep, as there are a lot of 'rules' that the IRS uses to determine whether or not one qualifies.

  ...from memory, I think that religions fit into a unique category...

  most 'non-profit' organizations are required - by law (of the land, not 'gods law') to elect officers once per year - and hold an open annual meeting. I am not sure that the WTBS annual meeting is actually 'open' to all to attend... I seem to recall that it is 'by invitation only', or somesuch nonsense.

  Happy hunting,

  Jim_TX