The WTS, Downsizing and Contributions. (page 3)

The total for declared for donations does not just include what was put into contributions in Kingdom Halls ( around six million pounds ). It includes property donations, legacies. interest and dividends, and 'service charges' made to the IBSA . Let me assure you the figures are correct and certainly would not be in the WTS own interests to inflate them!

Best - HS

wasasister

Look, I'm just a mid-management accountant here, but even I know there is a difference between owning fixed assets and having cash-flow. In order to recognize any benefit from their vast property holdings, they would have to liquidate them - a situation fraught with morale consequences at the very least. Selling God's property to raise funds? Unthinkable!

And Metatron is correct: the Brooklyn property and equipment may not be marketable - at least not for what it should be worth.

And on the subject of contributions, it has certainly been the case that JW's in developed nations were in a far better situation to be generous to the Society. Those very individuals who could afford to put in $200 at a time into the coffers - the well-educated, well-employed JW's - are the very ones dropping out in vast numbers. If the population base shifts to where the religion is still in growth mode, many of those people live in poverty and cannot put more than a "widow's mite" into the contribution boxes. Generous though they may be, how much can the Society hope to receive from areas like rural Africa, Mexico, or the former Soviet States?

If this trend continues, cheap lightbulbs won't begin to stop the leak. Candles, perhaps?

Wasa

freedom96

Could it be, that financial difficulties and mis-management could actually bring the end of the WTS? With no money, they cannot operate.

hillary_step

Freedom,

No, the point is that the WTS has taken drastic steps in recent months to streamline their operation. This will claw back millions each year. I think that they are now probably in a better position financially due to taking external advice rather than relying on other JW's and a GB to set its corporate focus. A smart move. Perhaps the WTS biggest fear, even greater than lawsuits, is taxation which would certainly cause a huge financial crisis.

HS

Jerry Bergman

I guess Michael Jackson's millions are not flowing to the WT any more. What about the William's sisters? Are they giving millions?

Mulan

I hate to rain on everyone's parade, but the society isn't as broke as one would be led to believe. I can't comment on the other branches, but the U.S. branch has so much capital/equity/assets, that they won't go broke for a long time............

I believe this is a true comment. I know they own a large block of real estate in Brooklyn Heights. In 1992, we visited Bethel (Dave was working there for two weeks and I took our youngest son on tours). We had met one of the Bethel bigwigs on our bus in Poland in 1989. We had lunch with him and walked to the Furman building with him for a tour. On the walk there, he pointed out a dozen buildings they owned, but didn't occupy, that were only investments. He told us the cost of each one, over $1 million each. He saw the surprised look on my face and said "Didn't you know this is a multi billion dollar corporation?"

His name is John Williams, if anyone knows him. His family are from Guyana, and he has a wonderful accent, and is an accountant by the way. He and his wife are now at Patterson.

metatron

I recall that the estimate for French Witnesses was about $60 bucks a head per year.

Like Enron and its accountants, I don't think the assets perceived value may hold up. Any body who

buys a factory in NYC these days is an idiot.

Consider too, the continuing drain of third world growth ( no money, lots of need) while cash flow

from the rich countries is flat or in decline. The number of congregations they've shut down in Japan

in the past six years is staggering.

metatron

goldilocks

Why would the Society be worried about it's "assets"??? Surely they have enough $$$ to last until Armageddon!!! And besides, if they are God's chosen people....... aren't they suppose to trust that God will provide for His people???

blondie

Yes, the WTS says the trusted in the past. Look at this account.

Proclaimers Book p 577-8 26

Brother Rutherford instructed C. A. Wise, the Society’s vice president, to go to Brooklyn to see about reopening Bethel and renting premises where the Society could begin printing operations. Desirous of knowing what course God would bless, Brother Rutherford said: "Go and see whether it is the Lord’s will for us to return back to Brooklyn."

"How will I determine as to whether it is the Lord’s will for us to go back or not?"

asked Brother Wise.

"It was a failure to get coal supplies in 1918 that drove us from Brooklyn back to Pittsburgh," Brother Rutherford replied.

"Let’s make coal the test. You go and order some coal."

"How many tons do you think I should order to make the test?"

"Well, make it a good test," Brother Rutherford recommended. "Order 500 tons."

That is exactly what Brother Wise did. And what was the outcome? When he applied to the authorities, he was granted a certificate to get 500 tons of coal—enough to care for their needs for a number of years! But where were they going to put it? Large sections of the basement of the Bethel Home were converted into coal storage.

The result of this test was taken as an unmistakable indication of God’s will

. By the first of October 1919, they were once again beginning to carry on their activity from Brooklyn.

Now, should they do their own printing? They endeavored to purchase a rotary magazine press but were told that there were only a few of these in the United States and that there was no chance of getting one for many months.

Nevertheless, they were confident that if it was the Lord’s will, he could open the way. And he did!

So maybe it the WTS goes down financially, it will be an indication that God no longer supports them. I wonder what "test" they are using now?

Blondie

The WTS, Downsizing and Contributions.

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