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No Greater Joy's Yearly Fiscal Report


debrand

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The fiscal year before this one was very difficult as NGJ spent $107,139 more than we received. The year before that was even more difficult with us spending $239,650 more than we received. We are thankful that the fiscal year that closed on June 30, 2013 was much stronger financially.

We ended the year in the black. Our income over expenses was $125,828. The difference was in the sacrificial giving you made to support us, keeping our ministry solvent and help us expand.

Sadly, they made a profit this year and will remain in business.

nogreaterjoy.org/2013/10/15/no-greater-joy-fiscal-year-end-report/

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Noooooooooo these disgusting child abusers do not deserve a single penny.

If they had any sense they would stop printing their book and donate all that money to a children's charity.

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OK wait a second...before anyone gets wound up, there are many other factors that go into this. If these reports are cash versus accrual for example. Just because they say they made a profit doesn't mean that is a cash profit.

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OK wait a second...before anyone gets wound up, there are many other factors that go into this. If these reports are cash versus accrual for example. Just because they say they made a profit doesn't mean that is a cash profit.

Can you expand on this a bit?

In the report they wrote that sixty percent of their income comes from sales. With all the information that is out about this family, it shocks me that people still buy their products.

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Because there is so much that is vile about these people, it's hard not to lean towards being suspicious. So I shall try to be fair.

Even the most critical news articles and blog posts I've seen about them, if they say anything about their finances, say there is no proof that the money goes anywhere other than their ministry.

Of course, their ministry is all about persuading people to whip children, make women submissive, and reject most of society. So there's that. :evil-eye:

The Pearls seem to like a down-home life, and doing actual physical work -- even if there is financial hanky-panky going on, I doubt they are hiding in a part of their house, wearing tiaras in a jacuzzi (but what an image! :pink-shock:), sneaking off to Vegas for gambling sprees, or spending half the year on the Riviera.

On the other hand, the image of being simple, shabbily-dressed former-hippie country folks may be somewhat contrived, at this point, to pull in the gullible.

Their warehouse and the new house Pearl is building may be part of the ministry, and the IRS may be fine with that.

But, if you look at this blog post from the Rodrigues family, you will see that both are substantial (scroll down - there are several pics in the warehouse, and of the house):

rodriguesfamilyministries.com/main/?p=292

Not to mention that they seem to have the usual problem for fundies who under-educated their children, of still needing to include some money going to the kids in their expenses.

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For example, the way accounting works is that a business can record a donation even if someone has only said they are going to donate cash even if they don't actually receive the cash. So if the ministry got many people who say they are going to donate but don't actually end up paying they could have a really good year one year and a really bad year the next.

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Who would have thought that providing an instruction manual for child abuse could be so lucrative?

I think I'm gonna be sick.

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Who would have thought that providing an instruction manual for child abuse could be so lucrative?

I think I'm gonna be sick.

Well, they could be making some of that money on their many other materials.

Of course, lots of those are also sick, abusive, weird, etc.

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Thought this was a key phrase from Mel Cohen's EOY report:

We cut out benefits, eliminated raises and made changes in all departments.

Yeah, cutting out benefits like health care & paid time off - so Christ-like.

Guidestar has NGJ's FY 2012 IRS 990 up: http://www.guidestar.org/FinDocuments/2 ... 6b52-9.pdf

If I'm reading it correctly, they only brought in $402K in revenue in 2012.

Vile as their stuff is, it's not significantly over-priced, unlike, say, Vision Forum's or the Botkins' shite so I could see them making lots of small sales.

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rodriguesfamilyministries.com/main/wp-content/uploads/2013/07/100_4296.jpg

Wow. So, this is what making money on child abuse will buy you.

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rodriguesfamilyministries.com/main/wp-content/uploads/2013/07/100_4296.jpg

Wow. So, this is what making money on child abuse will buy you.

That must be Mike & Debi's new house. He might actually be doing a lot of the labor but the construction materials sure didn't come free - or did they?

Would be interesting to see what's on any permits they pulled for this. Unfortunately, Hickman County, TN doesn't seem to have that info online.

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For example, the way accounting works is that a business can record a donation even if someone has only said they are going to donate cash even if they don't actually receive the cash. So if the ministry got many people who say they are going to donate but don't actually end up paying they could have a really good year one year and a really bad year the next.

But that depends on whether they do accrual or cash accounting. I work at a large-ish nonprofit and work with the money (I bring it in). We do a cash accounting. Out of $9 million, the most I have had fall through on pledges is about $1000 total. I doubt the Pearls have that much on accrual regardless. They would have to be getting huge amounts of unpaid pledges. I have a feeling their accounting is as simple and minimal as it can be considering their feelings towards the government.

Besides, unpaid pledges have to be written off at some point, usually when you do your audit. If a nonprofit is keeping a bunch of pledges on their balance sheet year after year to show they are in the black (and these would not be on the cash in line but on an accrual line), something is wrong. I really doubt that is what is going on here.

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But that depends on whether they do accrual or cash accounting. I work at a large-ish nonprofit and work with the money (I bring it in). We do a cash accounting. Out of $9 million, the most I have had fall through on pledges is about $1000 total. I doubt the Pearls have that much on accrual regardless. They would have to be getting huge amounts of unpaid pledges. I have a feeling their accounting is as simple and minimal as it can be considering their feelings towards the government.

Off topic, but wow, congratulations ! That is a fantastic collection percentage. Our local United Way has a non filled collection rate that averages around 5% .

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We work mostly with lawyers and they have that whole "contract" mentality :)

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Yes but unless they are over $500,000 in revenue or assets they probably aren't going to have an audit anyway so they can say most anything they want

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Yes but unless they are over $500,000 in revenue or assets they probably aren't going to have an audit anyway so they can say most anything they want

I think the threshold is lower. The $500,000 is the amount for a federal single audit. But I think most non profits have to have an certified audit at 100,000 for tax purposes. If they own homes and property they are likely over the half million mark in assets. I could certainly be wrong though.

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I think the threshold is lower. The $500,000 is the amount for a federal single audit. But I think most non profits have to have an certified audit at 100,000 for tax purposes. If they own homes and property they are likely over the half million mark in assets. I could certainly be wrong though.

In order to maintain a 501c3, an organization the size of the Pearls must file a 990. The $500,000 threshold jlbturtle refers to is only applicable to agencies that receive more than $500,000 in federal contract dollars. There are actually no income requirements for audits at all at the federal level. I doubt the Pearls get a cent in federal contract dollars, so I am not sure where you are getting that number, turtle.

Tennessee as a STATE requires any nonprofit (NGJ is a nonprofit and has public 990s available) with revenue over $300,000 to get an audit. The Pearls hit that threshold. The NGJ 990 even lists the CPA's name and address. The Pearls' total revenue for 2012 was just over $670,000. A review of the 990 also shows no pledge accrual on the balance sheet. Most of their money comes from sale of inventory. They are using an accrual accounting method but there are again no outstanding pledges.

The Pearls have had $7.5 million in donations and sales since 2007 - with sales making up $5 million of that!! The gave around $120,000 to missions in 2012. Interestingly, the Pearls' combined income was about $60,000 that year- they pay one employee more than they earn!

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Trust me the threshold is $500,000 for certain states regardless of the type of income. I'm a non profit auditor.

As I stated above, Tennessee has a minimum of $300,000, which the Pearls more than reach. What is a "nonprofit auditor"? I have worked as the management and director level in nonprofits for 15 years and have an MPA in nonprofit management and have never heard of that title! You are a CPA who deals mainly with nonprofits?

RI, ARK, NM, and KS are actually the only states who list $500,000 either in gross revenue OR contributions (different standards for different states; in fact, some remove federal dollars and grants from the mix) as a requirement to trigger the required annual financial audit. The rest of the states either have no requirement or very different levels!

Regardless, the Pearls did not have accrued pledges on their 990 and their state does require an independent financial audit, so the original point is still not the reason their income is so high.

I want to know who is buying so many child abuse manuals each year.

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Yes I'm a CPA that specializes in non profits and governmental entities. :-) MI where I'm certified requires audits for assets or contributions over $500,000 not to mention most grant organizations require one to apply anyway.

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