Paying for the Kingdom Hall

by JH 12 Replies latest jw friends

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  johnny_was_good

  The last thing I heard is that they don't charge interests.

  Edited by - Johnny_was_good on 22 January 2003 18:54:55
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  link

  I'm sorry people there is something that I just don't understand.

  In response to my questions on this board I have been told by more than one poster that the Society makes donations for the building of Kingdom halls and Branch Offices. A donation is not a loan.

  I understand from this thread that some are saying that the Society makes loans, not donations, that have to be paid back, with or without interest.

  Also, as far as the U.K. is concerned, it has been said here on a number of occasions that the individual congregation owns the hall and it is one of their assets. Only in the case of the congregation disbanding does ownership revert to the Society.

  Can anyone clarify?

  link
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  NameWithheld

  link, I think that many 'arrangements' have been used over the years, but by far the most common way a new KH is built is this: A congo get's a loan from the WTBTS (which supposedly takes the $$ from the "Kingdom Hall Building Fund"). In the past these loans were at 3-6% interest, but for the past several years have been 0% (Probably due to tax problems with a "non-profit" org charging interest). So the congo pays back the loan directly to the WTBTS, all the while still collecting $$$ for the KH building fund in that special box as well. The $$ to pay back the loan is taken from the local congo's bank account (from contributions made to the local hall).

  Also, normally, the KH is either titled in the WTBTS name, or at least has a rider on the deed that says if the congo disolves the KH ownership reverts to the WTBTS.

  Edit to say: You would think that if the WTBTS were truely caring about congos the 'Kingdom Hall Building Fund" $$$ would be made available to purchase outright the KHs - not as loan seed $$$. As it stands the WTBTS never 'loses' or 'uses' the KH Building Fund money, just lends it out.

  Edited by - NameWithheld on 22 January 2003 11:36:22