2006 990 Options

[lurker]

3ABN's 2006 990 is now posted at the save3abn website. Why is the area on the form referring to a personal benefit contract blacked out? It was blacked out in the original source for that document, not blacked out by the save3abn site.

The Irs defines a personal benefit contract in section 170 (f)(10)B with respect to the transferor, as any life insurance, annuity or endowment contract that benefits, directly or indirectly the transferor, the transferor's family or any other person designated by the transferor (other than an organization described in section 170©).

This post has been edited by lurker: Oct 4 2007, 09:15 AM

[Observer]

3ABN's 2006 990 is now posted at the save3abn website. Why is the area on the form referring to a personal benefit contract blacked out? It was blacked out in the original source for that document, not blacked out by the save3abn site.

The IRS defines a personal benefit contract in section 170 (f)(10)B with respect to the transferor, as any life insurance, annuity or endowment contract that benefits, directly or indirectly the transferor, the transferor's family or any other person designated by the transferor (other than an organization described in section 170©).

Accordign to that 990, here are key salaries:

Danny Shelton $72,802.00
President

Mollie Steenson $61,375.00
Secretary

Larry Ewing $60,585.00
Treasurer

Lary Welch $42,210.00
Director

No benefits are listed for any of the above. This is of interest as it lists $419,328.00 as paid to Blue Cross/Blue Shield for health insurance. Was that provided to the above. Were there any other benefits paid to the above that have not been listed.

NOTE: I have no problem with any of the listed salaries. I am certain that all of the above earned what they wree paid.

NOTE: In another sections it lists $75,000.00 as being paid to Linda. That was under the settlement agreement, I believe.

[no_cults]

Accordign to that 990, here are key salaries:

Danny Shelton $72,802.00
President

Mollie Steenson $61,375.00
Secretary

Larry Ewing $60,585.00
Treasurer

Lary Welch $42,210.00
Director

No benefits are listed for any of the above. This is of interest as it lists $419,328.00 as paid to Blue Cross/Blue Shield for health insurance. Was that provided to the above. Were there any other benefits paid to the above that have not been listed.

NOTE: I have no problem with any of the listed salaries. I am certain that all of the above earned what they wree paid.

NOTE: In another sections it lists $75,000.00 as being paid to Linda. That was under the settlement agreement, I believe.

Does anyone know what Gilley is being paid?

[no_cults]

Accordign to that 990, here are key salaries:

Danny Shelton $72,802.00
President

Mollie Steenson $61,375.00
Secretary

Larry Ewing $60,585.00
Treasurer

Lary Welch $42,210.00
Director

No benefits are listed for any of the above. This is of interest as it lists $419,328.00 as paid to Blue Cross/Blue Shield for health insurance. Was that provided to the above. Were there any other benefits paid to the above that have not been listed.

NOTE: I have no problem with any of the listed salaries. I am certain that all of the above earned what they wree paid.

NOTE: In another sections it lists $75,000.00 as being paid to Linda. That was under the settlement agreement, I believe.

Guidstar.org does not have the latest 2006 return, but interesting
to see the raises year over year for employees listed.

[lurker]

Did 3ABN file a form 8870? It should be part of the public record. At least it should be part of the discovery process. Is there a person benefit contract? It should be available also.

[lurker]

The 2006 990 for 3ABN is now up at Guidestar if that is where you like to read them. It indicates that there is no personal benefit contract. That area is not blocked out on this copy of the 990 as it was on the other one.

I noticed that there appeared to be several careless mistakes made when filling it out such as VI 91b and IVA 24 and 25 column E. I found the information on the last page at the bottom of the page to be enlightening.

This post has been edited by lurker: Oct 19 2007, 11:30 AM