Highlights from Watch Tower Britain and IBSA reports

by Corney 3 Replies latest watchtower beliefs

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  Corney

  Here are some highlights from Watch Tower Britain and IBSA annual reports

  1. No more printing operations in Britain

  It’s already has been reported:

  https://www.jehovahs-witness.com/topic/5638409936699392/britain-branch-cease-printing-sooner-expected

  https://printbusiness.co.uk/news/Jehovahs-Witnesses-close-north-London-web-offset-operation/110571/

  Now it’s official:

  
  

  WTB 2018 Report, p. 1

  2. WTB and IBSA had a record amount of cash at the end of 2018 financial year — £117.7 million.

  3. During 2016 – 2018 FY, Watch Tower Britain built only 8 Kingdom Halls and refurbished 269 ones.
  

  Five years ago IBSA claimed that "around 15 to 20" new Kingdom Halls were built each year in GB and Ireland. See IBSA Operational Statement, section 3.25.

  4. During 2017 – 2018 FY, IBSA earned £5.8 million from the sale of its tangible fixed assets.

  5. The branch relocation project has already cost at least £80 million — and it’s expected to cost another £45 million.

  p.s. I would be grateful for any correction, in case I've overlooked or misunderstood something.
  
• 

  Corney

  The 2019 reports are now available online: WTB, IBSA, KHT. I'm too lazy to analyze them (again), so here are some random observations:

  1. The Kingdom Hall Trust officially outlined its plans regarding congregation funds consolidation.

  
  

  
  

  
  

  2. Watch Tower Britain received an unprecedented sum of £70.7 million in grants, and sent another unprecedented sum - £44.2 million in cash - to Africa (probably to South Africa). Are they planning something big on that continent?

  Also, despite the above-mentioned transfers, WTB and IBSA still had £101 million of cash (at bank and in hand) as of 31 August 2019.
• 

  betterdaze

  Thanks! That's a lot of info to slog through.

  Watch Tower Britain received an unprecedented sum of £70.7 million in grants

  Grants from who or what?

  Money laundering can be far more lucrative than real estate and made less traceable. I'd like to know who they're whoring themselves out to for £70.7 million.
  
• 

  Earnest

  betterdaze : Grants [of £70.7 million] from who or what?

  I cannot immediately establish from whom or what these grants came from, but in the same period Watchtower Britain spent £88.6 million in assisting entities overseas. Of this, £57.8 million were grants paid to such overseas entities.
  

  Of greater interest to me was the information from the Kingdom Hall Trust, that during 2019

  The most significant income of KHT was £3.8 million of donated assets. This was due to congregations joining the Trust merger project. Part of this merge is the transfer of beneficial ownership of Kingdom Halls from the congregations. ... all expenditure relating to the transfer of title to the Trust is the responsibility of local congregations of Jehovah's Witnesses. If congregations choose to merge with the Trust, their own congregation funds and donations are utilised for their expenses.

  At the time of the report the KHT held title to 636 properties as custodian trustee.