Reasons for concluding that Watchtower is in (serious) financial trouble

by slimboyfat 151 Replies latest members private

• 

  shepherdless

  I can understand the caution against disappointment as well.

  However, I think there is enough evidence in Watchtower’s recent behaviour to think that Watchtower has a significant cash flow problem at the moment. SBF has done a good job at listing the basis for that. The Borg is also probably operating at a loss.

  Does that mean a collapse is imminent? That may possibly be the case, but at the moment I think there is insufficient evidence. At the moment, I think it is more likely that it is going to go through a rough ride for, perhaps, years, before the needed adjustments are made for revenue to match expenses.

  The biggest mystery at the moment is why Watchtower is in the position it is in. It must have some significant expenses that we have underestimated on this board. Perhaps it lost a large amount on the gfc of 2008. Perhaps it had borrowed on real estate. Perhaps it had overspent on IT systems that don’t generate a return ($100 million p.a., according to a LinkedIn post a few months ago). Perhaps the court costs are larger than people realise. Perhaps the cost of housing and feeding its retirees is greater than people realise. It is probably some combination of the above.
• 

  Vidiot

  A couple years back, Letto the Clown admitted on JWTV that the Org had "more money going out than coming in".

  If that was bullshit, it would have to be one of the most blatant lies they've ever told.

  If it's true, then the money's probably still being squirrelled away into their Cayman accounts as we speak.
• 

  Diogenesister

  Ruby456 Slim That isn,t going to happen and it is more likely that the headquarters itself will move to Europe. Aren,t the headquarters in Canada now anyway. The US is losing its world status.

  I think another reason it's unlikely or they'll try their damndest to keep it, and remember you have to put yourselves in their heads, is that they seriously fear the worldly authorities pre Armageddon.

  You might think I'm potty, but I believe they will want to keep somewhere substantial in the UK for UK dubs to hide away in come the great Tribulation!! I really do believe that!

  
  

  
  

  
  
• 

  Incognito

  As previously stated, a further cause for scepticism is WT's lack of transparency. It's not as though WT makes a quarterly or even yearly audited financial statement available for the public or at least JWs to view.

  The publishing business has changed drastically in the digital age. WT has learned it can now produce and distribute information more quickly and effectively, with less equipment, space, fuel, shipping, people and other costly overhead. If all of these are no longer required, it would be natural to downsize and keep only that which is needed.
  

  If you and your spouse needed a large home to raise 6 children, would it 'prove' you are experiencing financial difficulties if you both moved to a smaller home after the children are grown and out on their own?

  While there could be financial problems being experienced, anything we attribute to being 'proof', is really only speculation.
  
• 

  Crazyguy

  I don’t think their about to collapse but their constant begging for money and selling off Kingdom Halls is proof to me that the writing is on tha wall and they know it. Unless something major happens in the world the religion will have less then a million members in the not to distant future.
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  AbusedandPissed

  You do realize that the change in population demographics really affects the sales of kingdom halls. If a city's population drops why would you still need a 200 seat kingdom hall.
• 

  _Morpheus

  No no crazy guy... slim didnt say “about” to collapse. He said THEY ARE collapsing, as we speak.

  Now try to get him to define what that means. Its entertaining in a train wreck sort of way.
• 

  Ruby456

  Goodness me I now need to revise everything. Orphancrow I was so sure they were after outlaw and were on a stealth mission to get him back!!!
• 

  OrphanCrow

  I don't think the org is "about to collapse"

  I think they have simply changed their funding model.

  When a non-profit applies for grants, etc., one of the things that they must do is to supply proof that their internal contributions match the amount they are applying for. They cannot subsist on grants alone - they have to show that the membership is raising funds independently from the granting system.

  I think that the recent push for donations indicates that the org has changed how they fund their org simply because they have to in order to retain their tax free status as a non-profit organization.

  And as far as dumping off congregations go...again, this would be to maintain the accepted balance between assets and membership. Again...to retain their tax free status. It is just like when they "forgave" the Kingdom Hall loans - that move was the direct result of tax laws that forbade a charity/nonprofit from acting as a bank for their charitable umbrella.

  Nope. I am not buying it that the org "is about to collapse". They are simply changing their funding model to reflect what is acceptable under tax laws. That's all.

  They have too much money. That is why they push for donations - the donations are what protect and secure the $$$$ that rolls in from other sources.
• 

  Giordano

  Always good to have Orphan Crow's contribution to the discussion.