Transfers are/were: Restricted Donations (Bibles)
2007 $897,032 transfers only $1,607,913 *
2006 $200,331 tithe and transfers $258,665 *
2005 $192,623 tithe and transfers
2004 $15,677 tithe and transfers
2003 $27,596 tithe and transfers
2002 $5,500 tithe only
Sales Printing Costs Difference Royalties % of Sales % of Sales-Costs
2007 $2,288,506 $1,084,570 $1,203,936 $202,917 8.9% ** 16.9% **
2006 $4,316,011 $1,680,814 $2,635,197 $508,767 11.8% 19.3%
2005 $1,228,662 $445,558 $783,104 $116,556 9.5% 14.9%
2004 $2,009,825 $592,153 $1,417,672 $26,178 1.3% 1.8%
2003 $888,844 $262,297 $626,547 $16,226 1.8% 2.6%
2002 $743,348 $216,148 $527,200 $12,438 1.7% 2.4%
2001 $570,894
2000 $721,476
Please realize I am calculating Sales and only the cost of printing. This is not the amount of income they made on those sales.
To be accurate, you must remember the overhead/fixed costs of entity. (Building, Salaries, utilities…)
* The transfers could have to do with Bibles purchased and shipped. I am not sure yet until talking with Remnant this week.
The Bibles were not printed, but purchased and shipped from donations. This "Transfer" could be for those purchases since they would not be included in cost of goods sold.
I can only list 2006 & 2007 because those donations were not split/separated until 2006 on Form 990.
** Bob calculated differently at
http://www.save-3abn.com/danny-shelton-remnant-hides-royalties.htm. I did not take out shipping because I am not sure what part was for Bibles.
The other reason I did not include shipping was because, if I remember correctly, the churches ordering the TCTR books, paid the postage for the shipments.
It is clear to me that in 2004 began the publishing of Danny Shelton and Shelley Quinn's book. I believe there is an original book and a condensed book. It is clearly apparent royalties were not paid in 2004! Why?
Dare we wonder why! IMO Danny did not want it included in his divorce settlement.
It is also clear to me that somebody bought books in 2007. Did 3ABN use restricted donations to purchase books to be given away and handled the purchase out side of Cost of Goods sold?
I have to give Remnant credit for returning a tithe on the 501 (c) 3. 3ABN does not tithe except to themselves.