Watchtower Corp of New York worth over$ 2 billion

by Diogenesister 42 Replies latest watchtower child-abuse

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  JW GoneBad

  For those who think that tithing is the solution...most JWs live hand to mouth! Like 'Mother' corporate, most JWs have very little in the bank. For those JWs who do have property, they too, like Mother are 'house rich, cash poor'.

  Many a JW are unhealthy, constantly dealing with ups and downs with physical, mental, emotional & personality issues. JWs also have difficulty holding down a job. Most if not many JWs ended their education at the 12th grade, therefore are not in a profession that pays well.

  So...no tithing is not and will not fix WT's financial woes!
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  JW GoneBad

  ...any other bright ideas on how to mend WT's financial difficulties?🤣🤣🤣
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  Moster

  Joe134cd - interesting thoughts! I wonder if they will do option #2.

  JW Gonebad - you are not wrong, but my parents lived below the poverty level and still made their monthly donations. They would rather skip a meal or two, than not put money in the box.
  
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  slimboyfat

  Corney those figures you present are very interesting. Can I ask are they publicly available? I would interested in both sets of figures for all the years from 2009, or earlier, if availabe.

  They look credible to me and I think we can draw some conclusions.

  There seemed to be a significant drop in the assets of the Pennsylvania corporation in 2015. It was the same year that Lett issued the call for more donations.

  Then the combined assets of both corporations increased from 2014 to 2017 by $315 million, or 19%.

  This was the period during which Lett begged for more donations, congregations were instructed to send excess funds to HQs, and KHs began to be sold and the funds sent to the society.

  In other words confiscating local KH funds resulted in a $300 million boost in Watchtower assets. That would mean Watchtower gained around $20,000 from each congregation on average. That is a trick you can only pull once, as is selling KHs and assembly halls, because when the local bank balances and KHs are gone they are gone.
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  JW GoneBad

  Moster: but my parents lived below the poverty level and still made their monthly donations. They would rather skip a meal or two, than not put money in the box.

  Your parents, bless their heart, are in the minority. WT right now and on into the future needs a membership that will donate regularly and substantially month to month out of their surplus. JWs in general do not have a surplus of money now let alone in the months and years to come.

  Mother created a monster of a cult in the WTBTS that has a voracious appetite. Mother's silos, depositories, pantries & reserves are at their lowest ever and this monster is hungry!

  What is Mother to do???

  Stay tuned!
  
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  Corney

  slim, these figures are extracted from forms 990-T submitted by Watchtower (page 1, block C). All forms I have are available here: https://drive.google.com/drive/folders/1_I8jBbaSStIp4-1a0FODN2h4I6fpltBs?usp=sharing

  I think a drop in the assets of the PA corporation in 2015 could be caused, at least partially, by writing off congregation loans (that, on other hand, took place in 2014 in UK and Canada).
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  2+2=5

  Anyone who thinks the WTS is doing well financially may as well join them.

  It’s a delusion, they’ve sold the family jewellery, and they can’t turn a profit.
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  Vidiot

  JW GoneBad - "What is Mother to do???"

  This:

  https://www.youtube.com/watch?v=O4FKVRnntLw

  
  
  
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  The Big Machine

  Didn't Watchtower in the past couple of years make 1 billion dollars from selling their Brooklyn properties? That could be how they're worth 1.6 billion dollars. But with all the cutbacks they've been doing, they're probably shedding money and the 1 billion dollars just bought them time.
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  Corney

  Watch Tower Pennsylvania's form 990-T for the year ending 31 Aug 2017 has become available here: https://apps.irs.gov/pub/epostcard/cor/111857820_201708_990T_2018091015669414.pdf

  Surprisingly, book value of its assets has almost doubled from $558.8M to $1,004.2M.

  So, book value of assets of WTS Pennsylvania was $965.8M in 2011, $1,119.1 M in 2012, $1,154.5M in 2013, $1,020.4M in 2014, $593.75M in 2015, $558.8M in 2016, and $1,004.2M in 2017.

  Book value of assets of WTS NY was $399.3M in 2009, $675.4M in 2014, $1,451.2M in 2016, and $1,590.2M in 2017.

  Combined book value of the two societies' assets was $1.7 billion in 2014, $2 billion in 2016, and $2.6 billion in 2017.

  The returns are available here: https://drive.google.com/drive/folders/1_I8jBbaSStIp4-1a0FODN2h4I6fpltBs?usp=sharing

  Surely, book value of assets doesn't completely accurately reflect the org's financial situation. But this is still a good indicator, and it would be interesting to read what do proponents of the "WTS hides assets from lawsuits" theory think about the above-mentioned numbers.