Watch Tower Bible and Tract Society of Pennsylvania — Statement of Financial Accounts 1997
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WATCH TOWER BIBLE AND TRACT SOCIETY OF PENNSYLVANIA Fiscal Years Ending August 31, 1997 and 1996
ASSETS
Cash and short-term investments
$
209,383,368
$
126,287,416
Current receivables
7,078,760
1,183,590
Long-term receivables
264,985,844
273,709,170
Property and equipment
120,547,679
87,369,998
TOTAL ASSETS
$
601,995,651
$
488,550,174
LIABILITIES AND NET ASSETS
Liabilities
Accounts payable and accrued liabilities
$
4,288,252
$
7,620,537
Conditional donations
8,743,636
11,313,160
Long-term payables
39,961,838
TOTAL LIABILITIES
52,993,726
18,933,697
TOTAL NET ASSETS
549,001,925
469,616,477
TOTAL LIABILITIES AND NET ASSETS
$
601,995,651
$
488,550,174
CERTIFICATE OF SECRETARY AND TREASURER AND REPORT OF DIRECTORS:
I, L.A. Swingle, Secretary and Treasurer, of Watch Tower Bible and Tract Society of Pennsylvania, a nonprofit corporation, hereby certify that the foregoing is the Balance Sheet of Watch Tower Bible and Tract Society as of the end of the Society's last fiscal year, August 31, 1997; that Watch Tower Bible and Tract Society of Pennsylvania is a nonprofit corporation, pays no dividends and none of the assets of the Society will be paid by way of dividends.
Jum Stammer
M. G. Henschel, President
John S. Andrews, UK Attorney and person authorised to accept service in the UK.
ON BEHALF OF THE BOARD OF DIRECTORS
COMBINED STATEMENT OF REVENUES AND CHANGES IN NET ASSETS
WATCH TOWER BIBLE AND TRACT SOCIETY OF PENNSYLVANIA Fiscal Years Ending August 31, 1997 and 1996
REVENUES
Donations
54,722,984
35,836,278
Interest
20,504,081
13,423,964
Kingdom Hall Assistance Fund
3,900,595
3,888,831
Royalites, Rent, and Other
2,928,113
486,762
Total Revenues
82,055,773
53,635,835
EXPENSES
Kingdom Hall Assistance Fund
2,485,514
1,992,522
Relief Fund
170,507
237,455
Management and General
14,304
2,227,536
Total Expenses
2,670,325
4,457,513
CHANGE IN NET ASSETS
79,385,448
49,178,322
NET ASSETS AT BEGINNING OF PERIOD
469,616,477
374,770,794
Prior Period Adjustment
45,667,361
NET ASSETS AT END OF PERIOD
549,001,925
469,616,477
John S. Andrews, UK Attorney and person authorised to accept service in the UK.
L. A. Swingle Secretary and Treasurer