Morphes - I rememember a few years back when they printed their out goings in the year books. It was just under a quarter billion dollars back then. Just going on that $1.6 billion and they received nothing else (e.g donations, interest) it could all be over with in a decade.. When I joined this site 5 years ago I would of said wt pockets were to deep to be hurt, now I believe I could at the very least see the financial claps of wt.
Watchtower Corp of New York worth over$ 2 billion
by Diogenesister 42 Replies latest watchtower child-abuse
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slimboyfat
Okay so the most likely scenario is that the €1.6 billion includes the HQs but not local KHs?
Is there any way to find out?
What about assembly hallls, remote translation units, and any other property?
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_Morpheus
A news article states the intention of some to either force Watchtower to change its protection policies or else go broke defending them.
A news article recently reported that morpheous intends to declare himself king of england and unify all of europe. This seems reasonable.
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shepherdless
Hail King Morpheus!
In answer to SBF’s question, I would assume other property such as Patterson and Walkill (or whatever they have; I am not up to date) would form part of the assets. I expect the retirement apartments that I read about, would be included. In relation to Assembly Halls, I recall that in the UK, they seem to be their own stand alone legal and accounting entities. I have checked, and “Melbourne Assembly Hall” in Aust is also it’s own separate legal and accounting entity.
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Corney
slimboyfat So what are the possibilities? That the figure includes HQ and other property, but excludes KHs?
I think yes.
And/or Watchtower has taken on significant debt which counts against their assets in their net worth? If that’s the case they may be in serious trouble, because even selling KHs may not be enough to cover payouts, and stay operational as an organisation.
You know, 30% of Watch Tower Britain's current liabilities are made up of congregation, circuit and individual deposits, and 86% of all its liabilities and provisions of liabilities are made up of such deposits and conditional donations (2017 report). Maybe the composition of WTNY's liabilities is similar. I don't know that but it is not impossible.
What about assembly halls
At least 45 AH entities are registered in IRS as separate tax-exempt orgs. So I think the answer is obvious.
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Vidiot
Interesting.
They sold off the Brooklyn properties for over three billion, didn't they?
Where'd the shortfall go so fast?
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joe134cd
Moaster - I think there are 2 possibilities. (1) Tithe members directly. (2) Become an E-based, movie producing religion, of which there will be a small subscription fee to join. There will perhaps be a few buildings in main centres for ones to attend if and when they want. This would reduce the need for physical buildings, and free up money.
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JW GoneBad
So what is WT to do seeing that they are in financial jeopardy?
Answer: If I were advising WT...I would strongly urge that they merge with the Mormon Church!
Some reports show that LDS have a net worth north of $40B with annual tithes way north of $15B.
Realistically though, If I were advising the Mormon Church, I would mightily disadvise any partnership with WT due to their debt and liability.🤣🤣🤣
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JW GoneBad
...Gawd I love having fun at WT's expense (expense...no pun intended)!