What caused this family to become unhappy with 3ABN after years of support?
It is my understanding that a daughter from Missouri was visiting Charlie in Thompsonville. Charlie had built a home on the 3ABN campus many years ago and he and his neighbor, Bea Johnson (also built a similar home), maintained guest quarters for speakers and other guests of 3ABN. They were to serve as host and caretakers until their death, or so they thought. I am told there was a codicile in the documents (I am awaiting a prototype) that gave 3ABN the authority to take over the entire estate at a certain age and 3ABN had full power to manage, distribute or liquidate the trust and estate. Somehow, Charlie had missed that and became quite agitated and Hired an attorney in Marion to extricate himself from the Trust Services contract.
He was so infuriated he left the campus and is building a home in Missouri (near the Nebraska Line) "to die in"!!! I am told that the entire estate has returned to the Clarke Family, what is left of it. Obviously, the home on the 3ABN campus has to revert to 3ABN.
Charlie has left behind two daughters in Thompsonville, One is Tammy Clarke Larson (Wife of Clarence Larson, former 3ABN engineer, now retired) who has a privately held home not far from the 3ABN Campus and the other is one of the Clarke twins married to Dave Turner (facilities manager for 3ABN) and a neighbor of Tammy and Clarence Larson.
Charlie has made substantial progress as we are aware that the foundation is in and framing is to begin shortly in Missouri. We do not yet have the permits and plans.
The major issue for 3ABN is that when you have a trust or Charitable annuity they can take advances against the portfolio to fund current project, albeit that annuities are supposed to be invested to guarantee a return to the recipient until the annuity is fully matured or the giftor passes away...also known as the due diligence rule. 3ABN has posted it's own properties as collateral and I have consulted with a CDBG Director with an MBA in finance and administration and he feels very strongly the property values are way overstated, particularly for Southern Illinois. He also noted that the technology utilized is apparently a bit outmoded, albeit sufficient; the other issue is that Charities/non-profits must reverse annuity advances and trust advances when those sums are revoked for whatever purpose. Of course the current 990 will not be out until early 2015 and therefore difficult to determine if the proper accounting procedure will be followed.
However, another indicator that the budget is severely stressed is the unusually heavy advertising on 3ABN programming for funds/contributions/trust services options. Add this to complaints from employees of a significant reduction in hours (some are down to 10 hours a week) and recent settlements they have had to pay for the Tommy Ray Shelton pedophilia case, and the ongoing payment of legal fees for the various Danny Lee Shelton cases, one can see plenty of evidence that the "ministry" is choking for air and money!!!
Given the troubling signs and their non-denominational status they may have difficulty delivering on Charitable annuities and the revocation of Revokable Trusts. If one has questions on financial condition, I would recommend you speak directly to the treasurer and get an in writing letter of assurance on his signature...a letter from the President, Manager or Consultant would lack credibility. I seriously doubt the current treasurer would have any interest in doing jail time for Jim Gilley. Mollie Steenson or Danny Lee Shelton.
It would appear they are in an economic whirlwind and the direction does not seem positive at this point.
That is the financial summary of this ecclesiastical reporter based upon information available from various sources at this point in time. I trust it fully answers your question and the curiousity of our many guests as well...then, perhaps "Cindy" has other "reliable information" to share!!!We welcome the same...
Gailon Arthur Joy
AUReporter