Watching the documentary going clear, I noticed several parallels with the GB. One of which was that in recent times they are focusing their efforts on buying property. I don't understand what the purpose of this is? Can someone please explain?
Real estate buying, why are the GB doing this?
by purrpurr 10 Replies latest jw friends
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Lemonp
As part of being a "Non-Profit" an organization must show that it spends all that it receives (more or less) on projects to benefit the community/its cause.
So as not to have piles of cash in the bank, you can tie up these assets in real estate in the guise of various projects "for the benefit of members"
Should the need arise the property and buildings can be sold off, for a profit and free of tax, to gain access to the invested monies.
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The Searcher
Also, the Assembly Halls provide a regular source of income every time circuits use them. -
millie210
Land is one asset that goes up in value consistently over time.
If you make improvements by fixing buildings that exist or by building on the land, you make substantial returns on your investment.
The reason more people dont do this is because it costs a lot up front to buy the land and then improve it.
The Org has free skilled labor do all that work. Their investment is less and their return is great.
If they hadnt had those Brooklyn buildings to cash in and reinvest the capital they would be a fiscal nightmare right now.
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paradisebeauty
In case Jesus will not give them the earth in the new world, they want to own as much of the earth as they can in this world. -
Hold Me-Thrill Me
The Governing Body has made material acquisition the next best thing to God. God is not with them so they must settle for second best.
Frank
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SAHS
So, all those real estate holdings are really one giant tax-free savings account for the governing body.
A couple or so years ago, the governing body has completely usurped the sole designation of the “faithful and discreet slave” (at least according to their own current “understanding”). Looking at it from the outside, you can see how that little handful of elite “privileged” men have been elevating themselves on a higher and higher pedestal. And the more tax-free savings they are lucky enough to get away with acquiring and accruing, then all the more fuel and incentive for their little (or not-so-little) power trip!
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Giordano
From the very start the WTBTS has stood apart from all that they encouraged the friends to do. Money has been their everything. With the end times approaching the Society intends to ride it out with their large investment portfolios of stocks and bonds intact and their umpteen thousand real estate holdings prospering.
As far as spending their money in the preaching work, TV ads, Radio etc., to let the world know the end is coming, that's left up to the meager resources of the rank and file.
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Vidiot
Land is the only truly reliable investment in this day and age.
As Lex Luthor sad, "It's the one thing they're not making any more of."
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dozy
It is also often the case that local authorities will allow a religious or charitable organisation to build in an area ( eg greenbelt land ) where a commercial company wouldn't be allowed. Once the building has been kept for a few years , the Society then just flips it and rebuilds somewhere else.