Is the Wt bursting at the seams with$ billions?

fearnotruth22

It is true that the society owns 10'0s of millions of $ to say the least in real estate, and monetary funds used to run the org. But can anyone substantiate that the WT has billions of dollars in moneys such as cash in bank accounts, in stocks?.

If so, how does the WT justify having all of that wealth while most of humanity is in dire need?

Why is it so important to preach an urgent lifesaving message spanning 3 centuries collecting vvoluntary contributions, and not be concerned with human suffering leaving that up to God and blaming SAtan and the governments for it insteasd of releaving human suffering as much as possible. It seems to my rear end that what is urgent is not the future 100s of years later when millions now living are dead, but the present needs of people.

What do you think? What should the WT do with its billions since the preaching work has not been as urgent or as important as they said in the past?

drawcad_1

there is a lot of prime property in New York City that could be unloaded for a good price. Since they don't pay any taxes on thier real estate, the City of New York would propably like to see them get rid of it.

blondie

Really, what the WTS owns is nothing compared to the Mormons or the Catholic Church.

What is sad is how they use their "riches" to sell books not help people be warm and well fed.

Blondie

link

The very fact that the Society plays its cards so close to it’s chest on financial matters would indicate that there is something that it does not want the R&F to know, otherwise it would be open and honest about its financial status.

After Rutherford took over and having children was frowned upon because the end was so close – many couples died childless and left everything they had to the Society. Nobody knows just how much they have had in legacies but we do know that some of the stocks they were left are valued at millions of dollars.

The value of the property they own around the world could well run to billions, but nobody will ever know.

If every publisher gives only 4 dollars a month, on average, towards the cost of the publications, thats 24million a month and the cost of producing the magazines and other operating costs must only be a fraction of that amount.

Lots of food for thought here!

link

fearnotruth22

Blondie:

"Bthe great" does have a lot more money than the wts, but the mormons the catholics, etc also use their riches to help the poor and the needy NOW they dont tell people to go and rely on God.

With impartialialy, and having a science backgound I musr decalre that God has not let me down when I have relied on him so that is something that I have not imagined but I cannot understand it either because I also have fimacial responsibilities and other burdens that cash is the only solution and unless I win the lottery. Cash solves many many problems. Not all but many and amny people can benefit from billions of dollars in cah as a solution to their problems now while they wait for the new system.

El blanko

Judging by the local Kingdom Hall, they appear not to have billions $$$ .... unless there is a board of directors somewhere smoking big fat cigars and sailing around the world flicking v's at the rank and file.

I don't think money is necessarily the issue here. As I see it, it is whether there is real worth within the door to door preaching work. If there is, then it doesn't matter.

drawcad_1

there is not a lot of money at the local levels, unless you are in a rich neighborhood. I can go into a kingdom hall and look at the old carpeting paint that needs to be redone, shingles coming loose, etc etc. but every month there is a donation that goes to bethel so that they can do what they want. Like was said earlier, there are no programs for the poor and needy, not even for the old in the congregation.

RunningMan

According to a New York Newsday listing of the top 40 corporations in the city (Sept 17, 2001), the society has revenues of $951 million per year. It does not specify whether this figure is for the entire world or just the US.

As for assets, when you consider that they own all Kingdom Halls, Assembly Halls, and branch facilities, I would put the value of their real estate at over $5 billion. I also seem to recall seeing a figure for investment capital that was around $750 million.

So, yes, they are rich - way richer than their members would believe. No wonder they don't issue financial statements.

Mulan

A biggie at Bethel took us on a walking tour in Brooklyn, back in 1991. He told us then that the WTS was a multi-billion dollar corporation. We walked past many brownstones they owned, and he would point them out to us and ask how much we thought they were worth. Shocking, to say the least. Millions, and they were also collecting rent.

RunningMan

Ahhh, here it is. I have a financial statement for the Watchtower Bible and Tract Society of Pennsylvania (one of their many corporations) for the year ending Aug 31, 1998.

It shows cash and short term investments of $296 million, with net assets of $634 million. Bear in mind that they have many corporations in many countries.

Is the Wt bursting at the seams with$ billions?

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