WTBS' Financial Empire...the tip of the iceberg!

by MacHislopp 48 Replies latest jw friends

coffee_black

Actually, my point is that a religious organization is not a necessary element to having a relationship with God. The money and the power the organization has serves only to corrupt it. I don't believe that Jesus came to set up another organization. I don't think it's about having all the right answers, or "accurate knowledge" No one has all the answers. You will never impress God by how much you know....or think you know. Jesus's teachings were very simple, and the laws He spoke of are "written on the heart" not enforced by a group of men who consider themselves to be spiritual policemen. The relationship He talked about is one on one with God, through Him...no middleman need apply. Any time His followers tried to make themselves important, he said things like "Let the least among you be the greatest".
When you shift the focus from finding the "only true religion" to finding a relationship with God, you can finally focus on what really matters. It isn't complicated, doesn't require countless hours of study and reported hours, and magazine placements. It isn't stressful, and doesn't make you feel woefully inadequate.
And it's free.
Coffee
mizpah

You've "hit the nail on the head", Coffee. The Watchtower is not unlike other religious oganizations that have great assets and wealth at its disposal. But it has always boasted that it was "different." It wasn't too many years ago when Jehovah's Witnesses felt pride that,unlike other religions, JWs were devoted to their ministry and to each other...not to building projects and other materialistic pursuits. However they may try to justify their current publishing empire, they fail to follow the course that Jesus and his early disciples took to spread "the good news."
When Jesus sent out his apostles he instructed them not to take "gold or silver or copper" and not to take extra garments and provisions. Even of Jesus it was said that he did not have a place to lay his head. How can any religious organization say they are following Jesus' example when it abandons these simple principles and emulates the great corporations of the world? While the Watchtower may fool its credulous followers, it can not and does not fool God.
Gerard
link

I’m very sorry S o J but you have missed some something quite important out of your previous post (above) – we will pretend that you did not do it deliberately.
The Hall purchased in 1972 was paid for out of congregation funds, it was also refurbished out of these same funds. The Society contributed no money to its purchase or modification so why was the Hall under the name of the Society and how could you return money to them that they had never given?
In some countries the Society is banned by law from charging interest because of its charitable status, it therefore gives interest free loans. Very good – but when the interest free loan is paid back by the congregation, the Society claims title to the building.
Please correct me if I am wrong!
link
mizpah

The argument that Christians need modern methods to spread the simple gospel message is fallacious. Jesus and his early followers rapidly covered the entire Roman world with the "good news" without all the encumbrances of a publishing corporation. They used the most efficient and effective means: word of mouth.
Likewise, early Christian meeting places were generally in people's houses certainly not in Kingdom Halls. There was no need of contributions to maintain buildings. The contributions that were collected were for the needs of the brothers not for corporate expansion.
The best advice for the Watchtower Society would be the same as Jesus gave to the rich young ruler: "Go, sell what you have, give to the poor and come be my follower."
Abaddon

If we take the sum of $202.782 billion for the New York properties, and divide it by 6,000,000, then we have a figure of $33,979 per Jehovah's Witness, on NYC HQ property values alone. I think we can assume that there is manufacturing and office capacity to spare elsewhere in the organisation to keep the spirtual food coming.
If the property was sold and the profits invested, at 5% interest, each Witness would get $1,689 a year. $1,600 might not go far in the USA, but is almost a years salary in Pakistan, India and China. Thus the Society could (using the education facility at Patterson perhaps) train volunteers to go and work in the developing world (the three countries I've listed represent the largest chunk of unpreached to population) as full time preachers. I'm not talking about a few special pioneers; I'd estimate you could train transport and support 100,000 special pioneers for less than $1 billion a year.
Of course, if the preaching work isn't a priority, and keeping a vast publishing company afloat is the purpose of the WTBTS, then it's understandable why they have such vast resources not being put to use.
Hell, in commercial terms they would be able to sell up property and perform hostile takeovers of all their competitors... $202 billion.... think of the diseases that could eradicate, I think $134 per person for the 1/4 of the worlds population who don't have clean water would pay for clean water supplies worldwide... wouldn't that serve as a shining example before nations?
I need to be sick... the US spent $379 billion on the millitary last year... if you equate that sum to GDP, then the WTBTS sold their New York property, they would be the 25th largest economy in the world that year...
Gerard

Coffee,
You verbalized what I have always known to be truth.
Cheers,
Gerry
MacHislopp

Hello everyone,
These few lines to acknowledge your posts on the subject.
Waiting: great comments...you saw the points immediately!
Loris: "... LEGALLY DISTINCT BRANCHES THAT
TIGHTLY CONTROL THEIR RESOURCES . "
I was sure that someone would comment on this also!
Coffee_black and also happy man: "....Where does it go? They operate no charities,
no hospitals or colleges. Where does all this money go? "
This comment, was really my first question, once I did get some of
the financial ...informations, which as you can imagine, are hidden
to 99% of the JW's world wide.
Coffee_black: thanks also for the analitical comparison between
Jesus Christ and the WTBS Inc.'s financial empire. And finally
I do love , your conclusion:
"When you shift the focus from finding the "only true religion" to
finding a relationship with God, you can finally focus on
what really matters. It isn't complicated, doesn't require countless
hours of study and reported hours, and magazine placements.
It isn't stressful, and doesn't make you feel woefully inadequate."
AMEN!!!
Wannaexit, Rocketman, run dont walk, Gerard, Mr. Kim and JT:
thanks for your appreciation.
DannyBear: "....the final billions $ number includes all of the
Kingdom Hall mortgages..."
I'm sure that the Kingdom Halls values are not included
(U.S.A.)
Garybuss: Many thanks for the scan about the " Publishing corporation .."!
Metatron : thanks for your accurate remark.
Jgnat: Thanks for your good remarks.
gcc2k : Excellents point about the " assembly hall ".
Btw, I'm glad that you were among those 'ignorant' that
" ...the Jehovah's Witnesses.... opened a $20 million,
130,000-square-foot facility at the Mililani
Technology Park, better known as :
The " Watchtower Educational Center Pacific at Mililani
Technology Park. (Hawaii)
Scully: thanks for your appreciation and for your comment:
"I guess they didn't get the "Conduct Yourselves Honestly In All
Things" aka the be-honest-on-your-income-tax-return local
needs/public talk in April like all the other JW congregations do.
Mizpah: a very good statement indeed, "The Watchtower is
not unlike other religious oganizations that have great assets
and wealth at its disposal. " It maybe painful to some ...but it is the plain
truth.
To SwordofJah and Pork chop: Before you become part of the modern
class of apologists in behalf of the might WTBS Inc., take a good look at this:
*** w92 8/15 24 Preaching in Maputo-Mozambique's Intriguing Capital! ***
Theocratic Advancement Despite Obstacles
Today, there are more than 50 congregations in and around Maputo city. However, there is not a single Kingdom Hall of Jehovah’s Witnesses to be found. Why is that so? Because of poor economic conditions, the congregations have not been able to build even though some have owned land for a number of years.(*)
(*)
w92 8/15 25
The fact that congregations do not have Kingdom Halls at their disposal does not stop their progress. In most cases, more than double the number of publishers attend the meetings
*** w92 8/15 24 Preaching in Maputo-Mozambique's Intriguing Capital! ***
If a man is fortunate enough to find a job here, the average wage is from $20 to $30 per month

*** w92 8/15 24 Preaching in Maputo-Mozambique's Intriguing Capital! ***
"Another congregation of 59 publishers regularly has more than 140 in attendance. They normally meet on an open terrace. But during rainy weather, the congregation squeezes into the two rooms of a small apartment. The overflow from the audience spills into the hallway, the kitchen, and the balcony. Once again, one cannot help but notice the appreciation and attentiveness as everyone, including many youths, follow the program intently. "
"Mililani Technology Park. "
The group established an educational and meeting facility -- situated on 3.4 acres next to Oceanic Cable -- called the Watchtower Educational Center Pacific.
The center will house programs based on practical direction from the bible geared toward businesses and community organizations.
Because of its massive size, the group has been approached by individuals wanting to rent the site for personal events but Wong said the building will remain purely for bible educational meetings. The center features a main auditorium large enough to fit 1,500 visitors,
"Bad economy = good time for churches to build"
Frellie Campos PBN Staff Reporter
Worship and retreat facilities have been erected in growing numbers in a weakened economy where renovation and new construction projects have become scarce and labor less expensive.
And the entry of big-box retailers in recent years has pressured land owners to reduce their rents -- an advantage for church groups looking for properties to buy and facilities to build, according to commercial real estate agent William Jardine.
Jardine, who is based on the Big Island, said he has seen numerous church groups coming to town looking for properties to buy with the intention of establishing a worship facility or for business purposes.
"The whole aspect of being a church is extremely attractive. Churches have some flexibility in doing things they wouldn't be able to do otherwise," Jardine said.
But according to Nathan Wong, assistant to the branch manager at The Watchtower Bible and Tract Society, there is a great need for these types of facilities.
The group also provides resource handouts and seminars for a variety of issues such as sexual harassment and job-related issues -- services that are purely voluntary.
In fact, Wong said some businesses and community leaders have already ordered reprints of articles the group produced.
"Our materials are not that religiously oriented," Wong said.
With fiber-optic capabilities, the center has the ability to hook up to other headquarters around the country and to colleges via the Internet.
The society received assistance from volunteers all over the world to help design and construct the building that was two years in the making. "We're looking around to open possibly more sites in the future," Wong said.
And the society -- which has 300 members in the area -- is continuing its quest to build a larger presence in the Islands with its 24,200-square-foot two-story meeting hall being built at the former Ranch House site in Aina Haina.
The Jehovah's Witnesses -- who rely heavily on donations to operate -- purchased the 60,890-square-foot site for $3.6 million to build a facility for both prayer and education. Construction is scheduled for completion in October.
While education is on the minds of the Jehovah's Witnesses, La`akea Hawaiian Resort Co. Ltd. -- a subsidiary made up of businesspeople from a large corporation in Japan -- is proposing to turn a residential property in Kaneohe into a moneymaking venture. The group plans to develop a private meeting facility for community use, including weddings, retreats and related activities at 47-477 Waihee Place in Kaneohe.
La`akea Hawaiian Resort purchased the 39-acre property from a homeowner after seeing the potential for wedding activities at the scenic site overlooking Kaneohe Bay.
A 4,000-square-foot house that sits on the lot will be used as a meeting facility fit to hold 60 people. Minor improvements will be made to the two-story house to upgrade it for commercial use, said Crystal Rose, the agent that represents La`akea Hawaiian Resort.
The facility will be rented out to community members and businesses looking for a retreat site, meeting facility, or spot to hold wedding receptions. No overnight accommodations will be provided at the facility, which will be open daily from 9 a.m. to 5 p.m. The planned site is expected to be ready in early 1998.
In addition to renovation work to the house, a 1,600-square-foot wedding chapel is planned for the site. The chapel will have seating for 12 people.
According to Rose, the group decided to put in a chapel because of the overwhelming number of Japanese weddings that occur in Hawaii. La`akea Hawaiian Resort is hoping to do four to six wedding a day. "We want to keep it a rural atmosphere as best we can. We don't want to disrupt the neighbors," Rose said. "The group's intentions were to keep the operations small.
To help ease community members who are concerned the project will turn the quiet neighborhood into a commercial business circus, La`akea Hawaiian Resort has agreed to repave the half-a-mile Waihee Road, which residents have been asking the city to do for a while.
"We're trying to work with the community to find out how the property can best be used and what services we can provide. This is a sensitive issue ... but people should be able to use their property however they want," Rose said. "
This is the web's link: Pacific Business News
http://pacific.bcentral.com
and for the pics:
http://www.mililanitechpark.com/Businesses/businesses.htm#wbts
http://www.kcshosting.com/k/pic.html
Please read also a comment from SYM, (16/03/03)
"It should be fairly obvious that the Tower really doesn't give a hoot about what goes on in Maputo.
They have enough money to build Kingdom Halls in Maputo, but maybe the Brothers in Maputo were smart enough to see through the Tower's scam of the Brothers paying the Society for the Hall, and then having the Society own it when they finish paying back the loan."
and from Francois :
"If the WTBTS were interested in the brothers in Bumfuck, Egypt having a kingdom hall, they've got enough money to build one for any group who wants one.
These lying bastards have one hand out looking for donations, while with the other they're counting all the filthy lucre they rake in every year.
And all the while they can STILL tell themselves they represent the Infinite, Eternal God of the Universe of Universes. It would be hilarious if it weren't so pathetic."
I'll comment after, for the latest additions.
Greetings, J.C.MacHislopp
MacHislopp

Hello everyone,
Just as a reminder, for some and as a new item for others, here below some more
more informations concerning the financial empire of the WTBS Inc.:
(from the link http://kent.steinhaug.com/boe/money.htm )

The WTB&TS of Britain had net assets of UKP22,238,672 approx. US$33,000,000)at August 31, 2001.
Of this, approximately UKP20,400,000 (approx US$30,600,000) was in the form of investments in fixed interest securities and short term deposits. During the year, the restricted fund "Congregation Deposit Loan Fund" was closed down, and the funds reallocated to general usage. The purpose of this fund was to "pool funds from connected congregation charities and seek to pay better rates of interest to them than would be available locally." The congregations approval was required and obtained for this reallocation. In effect, the Society "suggested" that money donated for a specific use (benefit of congregations) be absorbed into general funds, with which the Society can do whatever they like. Given the high control environment of the Watch Tower, this effectively demonstrates the artificiality of the WT's facade that specific dona tions can have their uses restricted to accomodate the donor's wishes.
The Trustees' report confirms that the London printing facilities are not to be enlarged.
Documents as PDF Format

The IBSA has net assets of UKP46,034,097 (approx US$69,000,000) at August 31, 2001.
Combined with the WTB&TS of Britain, this gives the two main British charities combined net assets of approx. UKP68,200,000 (approx. US$102,000,000).
The market value of land and buildings held by the IBSA is UKP42,681,000 (approx. US$64,000,000).
Documents as PDF Format

"The Kingdom Hall Trust" acts as "Custodian Trustee holding the title to freehold and leasehold properties acquired as places of worship for congregations in England and Wales. All new properties purchased are held in the name of the Trust. An ongoing programme of transferring title of existing places of worship from local trustees to the Trust is in progress and will take some years to complete."
It should be noted that all expenses relating to the Trust are met by the congregations. Also, "the congregations are individually responsible for the financing and mortgage commitments, rents, rates, taxes ans all other outgoings." In short, the WT gets the title, the congregations get the expenses. Gouge par excellence!
The total value of the freehold properties held in trust was approx UKP46,765,000 (approx. US$70,000,000).
Documents as PDF Format

°°°°°°°°°°°°°°°°
II: THE HENRIETTA M. RILEY TRUST.
The H M Riley Trust is a U.S. trust that has the Watchtower Society as the sole beneficiary. Basically, it is a vehicle to make income for the Watchtower, using assets left by Henrietta Riley. The income generated by the trust is transferred to the Watchtower by means of a "donation". For the year ended April 30, 2002, the trust generated income of $1,740,127 and donated $1,945,645 to the Watchtower. In comparison, for the 2001 year the trust generated $2,939,731 in income, and donated $3,285,050 to the Watchtower. The difference between income and expenditure is made up by realising gains on the assets held.
The income of the trust is from two main sources. The majority is from "oil and gas royalties." The trust also has almost $2 million of investments in various stocks and other vehicles.
Figure 1: Front page of HM Riley Trust form 990, year ended April 30, 2002

Figure 2: Second page of form 990, HM Riley Trust year ended April 30, 2002, showing primary purpose as "support Watch Tower Bible & Tract Society"
Figure 3: Extract of investment listing of HM Riley Trust, April 30, 2002

(see http://www.jehovahs-witness.com/11/54708/1.ashx )

- Many thanks , again, to Expatbrit

-

Then from this :
http://www.google.com/search?sourceid=navclient&q=H+M+Riley+Trust
you'will see that in the year 1999 the " H.M. RILEY Trust " which has been listed n° 45, out of the "Top 50 Michingan Foundations" donated in the fiscal date i.e. 04/30/1998 the sum of 3,593,248 USA Dollars
to the " Watch Tower Bible and Tract Society ".-
°°°°°°°°°°°°°°°°°°°°
Still concerning the "Financial Empire" of the WTBS Inc.
for all those who have never seen "pictures " of WTBS Inc.,
properties it is not too late to take a nice ...guided trip .
This is the link : http://members.shaw.ca/theotrip/index.htm
The pictures have been taken by Stan and July Milosevic.
(Many, many thanks to them).
You'll be able to see vast property in Montreal (Canada);
the Canadian Bethel in Georgetown, Ontario;
many of the WTBS 's buildings in Brooklyn;
the Patterson Inn, the Patterson Educational Center;
the Watchtower Farms in Wallkill, New York;
and various Kingdom Halls in Canada and USA.
All the land and the buildings, surely represent a value
of billions of USA dollars, and as you mind get's numb
by these astronomical figures, remember these WTBS' quotes:
*** w92 8/15 24 Preaching in Maputo-Mozambique's Intriguing Capital! ***
Theocratic Advancement Despite Obstacles
Today, there are more than 50 congregations in and around Maputo city. However, there is not a single Kingdom Hall of Jehovah’s Witnesses to be found. Why is that so? Because of poor economic conditions, the congregations have not been able to build even though some have owned land for a number of years.(*)
(*)
w92 8/15 25
The fact that congregations do not have Kingdom Halls at their disposal does not stop their progress. In most cases, more than double the number of publishers attend the meetings
*** w92 8/15 24 Preaching in Maputo-Mozambique's Intriguing Capital! ***
If a man is fortunate enough to find a job here, the average wage is from
$20 to $30 per month ".
*** w92 8/15 24 Preaching in Maputo-Mozambique's Intriguing Capital! ***
"Another congregation of 59 publishers regularly has more than 140 in attendance. They normally meet on an open terrace. But during rainy weather, the congregation squeezes into the two rooms of a small apartment. The overflow from the audience spills into the hallway, the kitchen, and the balcony. Once again, one cannot help but notice the appreciation and attentiveness as everyone, including many youths, follow the program intently. "
Greetings, J.C.MacHislopp
P.S. As soon as I’ll get more informations, I’ll post them.
Donna

Awake 6/8/2001, p. 12, Cathedrals?Monuments to God or Men? Cathedrals?Monuments to God or Men? BY AWAKE! WRITER IN FRANCE IN Moscow a resurrection of sorts has taken place. Christ the Savior Cathedral, razed by Stalin in 1931, has been rebuilt, its golden domes gleaming against the Russian sky. In the city of Évry, near Paris, workers have put the finishing touches on the only cathedral built in France during the 20th century. This comes just a few years after the consecration of the cathedral of Almudena in Madrid. Not to be outdone, New York City has the cathedral named St. John the Divine. Having been under construction for over 100 years, it has often been called St. John the Unfinished. Even so, it is one of the world?s largest cathedrals, covering over 120,000 square feet [11,000 sq m]. Throughout Christendom, huge cathedrals dominate the landscape of many cities. To believers, they are a monument to faith in God. Even nonbelievers may cherish them as works of art or as studies in architectural brilliance. Nevertheless, the existence of these elaborate and often outrageously expensive houses of worship raises serious questions: Why and how were they built? What purpose do they serve? ................. Costly Yesterday, Costly Today One writer describes cathedral building projects as ?bottomless financial abysses.? How, then, were these buildings?maintained even now at spiraling costs?financed in the past? In some cases prelates, such as Maurice de Sully in Paris, paid for them out of their own pockets. Sometimes political rulers, such as King James I of Aragon, footed the bill. By and large, though, it was the revenue of the bishopric that financed the cathedrals. This money consisted of feudal taxes and income from property. In fact, the Bishop of Bologna in Italy possessed 2,000 estates! To this was added religious income from collections, indulgences, and penalties for sins. In Rouen, France, those who purchased the right to eat dairy products during Lent paid for the cathedral?s so-called Butter Tower. ................. ?An Error of Priorities? These ?beautiful and thus costly structures,? as Pope Honorius III put it, caused controversy from the start. Voices within the church were raised against the work and the phenomenal sums involved. Pierre le Chantre, a 13th-century prelate of Notre-Dame de Paris, declared: ?It is sinful to build churches as is done at present.? Even today the cathedral at Évry, to name but one, provokes harsh criticism. As reported by the French newspaper Le Monde, many people feel that cathedrals reflect ?an error in priorities? and that the churches ?should invest in people and in evangelization rather than in stones and decoration.? ................. No doubt many who shared in the building of these vast edifices had a sincere love of God. Such ones clearly had ?a zeal for God,? but it was ?not according to accurate knowledge.? (Romans 10:2) Jesus Christ never suggested that his followers construct elaborate houses of worship. He urged true worshipers to ?worship with spirit and truth.? (John 4:21-24) In spite of their beauty, Christendom?s mighty cathedrals stand in contradiction to this principle. They may be monuments to the men who built them, but they fail to glorify God. ===================================

WTBS' Financial Empire...the tip of the iceberg!

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