Danny Shelton's Book Deals
"Probably Several Hundred Thousand Dollars"
In the early days of the present 3ABN crisis, a former 3ABNer commented on
3ABN president Danny Shelton's book deals and their significance:
|
-------- Original Message --------
| From: |
****** |
| To: |
G. Arthur Joy |
| Subject: |
RE: MAP |
| Date: |
Tue, 19 Sep 2006 17:02:39 -0700 |
|
Hello Gailon,
...
I have wondered about the numbers. When I spoke with Danny
about a month or so ago, he insisted that numbers were up by
a couple of million. But when I spoke with a board member he
indicated that the finances were not doing well, in part relating
to a tremendous amount of money 3ABN put into the "Ten Commandments
Twice Removed Book" which was distributed by the millions during
the spring. I am quite certain that Danny received royalties
on this, probably to the tune of several hundred thousand dollars,
although he is refusing to disclose the amount to his own board
members. This is a gross conflict of interest and also an improper
personal inurement that could cause the ministry to lose its
tax exempt status if it came to light. ...
...
|
Danny Appears to Confirm the Problem
One concerned individual, after hearing
that Danny was not disclosing these profits
in order to avoid having to share them with his ex-wife in their marital property settlement,
wrote to him directly.
Danny made it quite clear
that he was indeed keeping these profits a secret during the marital property distribution
proceedings. But why would he do that, unless he really had made a hefty profit?
The July 13, 2006, Financial Affidavit
The accounting of 3ABN appears to be off limits to nearly
everyone. That is unfortunate, for it makes it extremely difficult
to demonstrate that various allegations of financial improprieties
are simply untrue. Yet the Financial
Affidavit is one piece of financial information that is fairly accessible, having been
filed at the Franklin County Circuit Court in July 2006. What follows are questions raised by that affidavit.
Not Much Money in the Bank?
Danny lists only two bank accounts in the
affidavit,
one containing $1,500 and the other
containing $1,000. Since around 4.5 million copies of his book, Ten Commandments Twice Removed, were
distributed in the spring of 2006, and since
Danny's
personal responses suggest that he did make a lot of money
on those sales, why does he list only $2,500 in those two bank accounts?
On the Other Hand ...
The amount declared in the affidavit
for charitable contributions, $500, suggests that there couldn't have been
any royalty payments at all. The declared gross monthly income is $5,991,
and the charitable contributions are but 8.35% of this total.
After subtracting the taxes that got withheld, but before figuring in what the tax refund
might be, the declared net monthly income is $4,323. Thus the charitable contributions would amount to
11.57% of this figure. Given the Seventh-day Adventist teaching on tithes and offerings, it seems impossible
that $500 in contributions could represent tithe and offerings on both Danny's salary from 3ABN
and hundreds of thousands of dollars of alleged profits from book deals.
The declared gross monthly income figure of $5,991 should be about right, since that would amount to
$71,892 for the year, which is comparable to the annual salary of $70,944 reported for Danny on
3ABN's 2005 Form 990. (See Statement 9 on page 4
of the "Supplemental Information" attached to the Form 990.)
3ABN Area: Low Housing Costs
Since we are talking about the financial
affidavit, we'll add this one item that doesn't pertain to royalties. Based on the
affidavit, it would appear that right around
3ABN is an excellent place to find low-cost housing. Consider that Danny has declared that his residence is
worth only $275,000. Just how much can one get for that sum? Our understanding is that his home has the following
features:
- 4 bedrooms.
- 4 full baths.
- 1 half bath.
- 5000+ sq. ft.
- 2-car garage.
- Wrap-around porch.
- 18½ acres.
- Large pond.
- Large horse barn.
- Paved driveway.
- Swimming pool.
|
For comparison, consider the higher-priced area of West Frankfort, not very far away at all. (Actually, it's
so close that Danny's mailing address is West Frankfort too.) There we have a home being offered for sale in
March 2007 for $204,300, a listing with an MLS ID of 257978. Located at 18297 Lone Oak
Terrace in the Forrest Ridge subdivision, you just can't get as much for your money as you can next to 3ABN:
Description
Wooded-Cul-De-Sac-Over an Acre Beautiful wooded lot in a country
subdivision is the location for this lovely, well maintained
home featuring a great room well arranged to entertain a large
group or a cozy family evening, large arched windows, crown molding,
well designed kitchen with all appliances, dining room, master
bedroom suite, with jet tub and separate shower in master bath.
Features
|
3 beds
2 baths
2358 Sq. Ft.
1.18 Acres
Lot Features
Lot Dimensions (203x210x235x28)
Lot Topography (Wooded-Gently Rolling)
Road Type (County)
Sewer Utilities (Aerator)
View (Wooded)
Water Utilities (City)
Building Features
Cooling System (Central)
First Floor Sq Ft (2,358)
Gross Living Area Sq Ft (2,358)
Heating System (Geo Thermal Electric)
Interior Features
Bedroom 2 Dim (12x11.5)
Bedroom 3 Dim (12.5x112)
Dining Room Dim (12.5x12)
Great Room Dim (35x19.5)
Kitchen Dim (11.4x14.2)
Appliances
Dishwasher
Disposal
Microwave
Range/Oven
Refrigerator
Exterior Features
Parking (2 car attached)
|
(Found on
DonnaPrattHomes.com
on March 21, 2007)
|
On Second Thought ...
On second thought, is it at all possible that this
financial affidavit
does not reflect reality, that Danny's house is worth much more than $275,000, that he does
have a lot more than $2,500 in two bank accounts, that he is trying to hide his book deal profits
and his assets lest he have to fork over more to the lady he divorced and called an adulteress when he had
no proof to that effect? Then that would help make
more sense out of comments by folks who live around Thompsonville and West Frankfort who think Danny is
quite wealthy, perhaps even a millionaire.
And should DLS Publishing, Inc., Danny Lee Shelton's publishing company, be listed
somewhere on the affidavit? Or is it not considered an asset?
|
