The current financial crisis of Watchtower in historical context (part 1)

by slimboyfat 165 Replies latest members private

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  notsurewheretogo

  The....WTS...does...not....has...not...and....will....never....pay...any....congregation's....operating....expenses.....

  That is true but I've seen other halls in the same circuit help out another cong with its expenses when it cannot pay the bills.
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  slimboyfat

  I think it will happen soon. And Watchtower can transform through crisis into something better. I'm looking forward to part 2. With men it's impossible but with God all things are possible.
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  shepherdless

  And Watchtower can transform through crisis into something better.

  And pigs might fly, too.
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  done4good

  Thank you, SBF. I appreciate the feedback.

  I also appreciate being factually corrected. Another poster PM'd me concerning the specifics of tax law involved. I re-read my comment and it read such as if I was stating that automatically if the California civil court ruling held that WTS would be responsible for all types of tax moving forward. That is not correct. My point was really that sales tax in of itself was not the issue that concerned WTS. Their attorneys were concerned about the slippery slope of potential status change afterword, which could come, (and given enough time probably would have), once they have to open their books.

  In the end, organizations don't commit suicide. They certainly don't decide to eliminate their only real revenue source unless they fear something else could hurt them worse. IF they lost their non-profit status, that would have killed them off. They did not want to risk that back in 1990.
  
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  LV101

  SBF - I hope the leaders and pedophiles, murderers, etc., involved with the evil cult transform in prison! There are decent Christian religions that are legitimate, tax free, entities and do so much for their communities. WT breaks the rule/law(s) from the get go.
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  Fisherman

  D4g, my previous post did not post through until today and I could not edit or finish what I had to post before it did.

  First thing that I wanted to say is that after reading SBF highlighting your post, I went back and read it carefully and I agree with SBF, your post is well written. But I respectfully don't agree with everything that you said:

  They don't have cash flow issues. They can pay today's expenses with cash on hand.

  SBF never said in his post that wt cannot pay its bills. WT can pay, they have been paying and they are paying -but from what funds since it appears that the resultant flow of cash is outgoing and not incoming; this is the subject matter being discussed.

  they become taxable, period.

  You got it! I mentioned this in a previous post. (Funny that also wt would become a tax collector of sales tax.) WT was forced ( you say begrudgingly) to stop "selling" their products and services. From that point on, wt could not make a good buck to finance the wt movement: Giving out free food, giving away free literature... (at wt expense!) .... Anyway, let's not go on and on saying the same thing again and again on this thread. Fact is that after 1990, the wt grew in JW by millions and millions and millions of people in exchange for the free literature and wt efforts - so it paid off in terms of what wt wants to accomplish with its products and services. "WT" ( and I don't mean the legal corporation) is integrated with the 8 million or more and growing army of JW supporters and it is a fallacy to believe that this army of true believers will dissolve because of seeming wt financial problems.

  Financially speaking, SBF evidence suggests that contributions is wt only income and it doesn't cover wt expenses and this can't go on forever because even lake Meade will eventually dry up without rain and sooner than you think -which is what is happening to BTG in terms of supporters. But that is not what is happening to wt.

  WT has been managing by doing things more cost effectively (as you have shown d4g) They will balance the budget so that wt can run on wt income without digging into their savings. How? That is SBF's question.
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  sparrowdown

  Oh I didn't realize you were still a believer SBF.

  I just assumed you were on board with the whole "burn WT burn" thing. Oops 😶
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  pontoon

  Watchtower Media and Real Estate Corporation. I think the largest real estate and rental company in the world.
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  pontoon

  Imagine collecting rents on 10's of thousands of properties without any overhead to maintain or operate them. Main business of Watchtower Real Estate Corporation.
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  pontoon

  We'll buy the land, build the hall, maintain and operate the hall, give it to you and pay you to let us use it. Any other scenario outside of religion you would say these people have lost their minds.