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Author Topic: 3ABN files its 2009 annual report  (Read 10464 times)

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Bob Pickle

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3ABN files its 2009 annual report
« on: September 01, 2010, 05:47:36 AM »

Links to 3ABN's 2009 IRS Form 990 and 2009 financial statement can be found at http://www.save-3abn.com/3abn-form-990s.htm.

Donations didn't fare very well in 2009, according to 3ABN's reporting. While the loss for the year wasn't as high as 2003, 2006, and 2007, it was higher than the losses in 2004 and 2005. Out of the last 7 years of reporting, 3ABN has reported a gain in only one year.

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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #1 on: September 01, 2010, 05:49:27 AM »

On October 22, 2008, Walt Thompson testified under oath that 3ABN's donations were back up to the levels they had been before the "attacks" started. Since Mollie Steenson and Larry Ewing testified under oath in May 2007 that the "attacks" started in June or July 2006, then Thompson must have been saying that donations were back up to the levels they had been in the first half of 2006. Since Thompson testified that this showed that 3ABN's public reputation had been restored, donations from the public, not from board members, must be looked at.

"Analysis of 3ABN's Form 990's from 1998 to 2006" shows us that donations were $15,075,120 in 2006.

Page 1 line 1a of 3ABN's 2007 Form 990 says that donations were $14,199,289 in 2007.

Page 1 line 8 of 3ABN's 2008 Form 990 says that donations were $14,591,460 in 2008.

Page 1 line 8 of 3ABN's 2009 Form 990 says that donations were $13,261,885 in 2009. That's the lowest donations have been since 2003.

Page 14 of the 2008 Form 990, and page 15 of the 2009 Form 990, show that of the amounts for donations and sales revenue came, disqualified persons such as board members contributed $417,415 in 2006, $447,164 in 2007, $1,127,407 in 2008, and $600,404 in 2009.

The bottom line is that neither 2008's donations nor 2009's donations were back up to pre-June or pre-July 2006 levels, based on 3ABN's own numbers.

I personally think this matter should be investigated, and that Walt Thompson should be charged with perjury if public donations were not at pre-June or pre-July 2006 levels as of October 22, 2008.
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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #2 on: September 01, 2010, 08:42:20 AM »

Page 10 line 11b of 3ABN's 2009 Form 990 says that legal expenses were $449,950 in 2009.

Page 2 line 32 of the 2006 Form 990 says that legal expenses were $152,654 in 2006.

One could therefore guesstimate that 3ABN and Danny's frivolous lawsuit against us cost roughly $300,000 in 2009. If that is correct, then the lawsuit has probably cost over $1.5 million so far.
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tinka

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Re: 3ABN files its 2009 annual report
« Reply #3 on: September 01, 2010, 04:32:48 PM »

Yep, they got plenty of money to go after. I just can't believe people send money to this. They can't possibly know what is going on or surely they would not do it. But soon the media will probably let it out and the the shock waves will begin.
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Johann

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Re: 3ABN files its 2009 annual report
« Reply #4 on: September 02, 2010, 01:13:23 AM »

No wonder some of the leaders in the SDA Church consider 3ABN soon a closed chapter in history
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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #5 on: September 05, 2010, 07:37:51 PM »

Links to 3ABN's 2009 IRS Form 990 and 2009 financial statement can be found at http://www.save-3abn.com/3abn-form-990s.htm.

I just realized that the financial statements omit one of 3ABN's largest liabilities. Take a look at them and see if you can pick up on a huge liability that is undisclosed, unitemized, and unacknowledged.
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childoftheking

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Re: 3ABN files its 2009 annual report
« Reply #6 on: September 06, 2010, 10:29:23 AM »

OK I give up. What is it.
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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #7 on: September 06, 2010, 10:41:08 AM »

Anyone else want to venture a guess?
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ex3abnemployee

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Re: 3ABN files its 2009 annual report
« Reply #8 on: September 06, 2010, 11:31:55 AM »

I didn't see anything about legal expenses.
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Duane Clem
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Alex L. Walker

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Re: 3ABN files its 2009 annual report
« Reply #9 on: September 06, 2010, 01:57:34 PM »

I didn't see anything about legal expenses.

Wonder if they are saving that? ??? :D
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Alex L. Walker
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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #10 on: September 06, 2010, 06:02:37 PM »

I didn't see anything about legal expenses.

If you look at the 990's, Part IX, lines 11b and 11c, you'll find amounts reported for "Legal" and "Accounting." Add those two amounts together, and you'll find that they match the figure for "Professional Fees" on the very last page of the financial statements.

So legal expenses is the majority of what is called Professional Fees in the financial statements.
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Snoopy

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Re: 3ABN files its 2009 annual report
« Reply #11 on: September 06, 2010, 08:49:04 PM »

Are you referring to the potential litigation related to Tommy?
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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #12 on: September 07, 2010, 09:09:46 AM »

Are you referring to the potential litigation related to Tommy?

I guess that's involved in what I was thinking of, but that wasn't it exactly. I was thinking of another huge, ongoing liability that has been affecting 3ABN's bottom line for awhile, as far as I can tell.
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ex3abnemployee

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Re: 3ABN files its 2009 annual report
« Reply #13 on: September 07, 2010, 10:46:50 AM »

Are you referring to the potential litigation related to Tommy?

I guess that's involved in what I was thinking of, but that wasn't it exactly. I was thinking of another huge, ongoing liability that has been affecting 3ABN's bottom line for awhile, as far as I can tell.

Their biggest liability is Danny, but I guess we can't expect them to list him.
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Duane Clem
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Bob Pickle

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Re: 3ABN files its 2009 annual report
« Reply #14 on: September 08, 2010, 05:44:17 AM »

Danny Shelton is a pretty big liability, but he isn't listed as such in the financial statements.

But what kind of a dollar figure would you put on that liability?
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