Behold, thanks to a little digging, and a tip from an old post of Stan’s, I present you fine folk with the 2007 Form 990 from “Plain Truth Ministries Worldwide”:

2007-952931840-03cd2658-9

• Direct Public Support: 1,091,525.00
• Interest on Savings, and Temporary Cash Investments: 33,217.00
• Other revenue: 4,511.00
• Total Revenue: 1,113,823.00
• Savings and Temporary Cash Investments: Beginning of Year: 795,097.00 [Could this be the account where the money from the sale of the campuses is being frittered away? Or is this a separate account? Notably, there was a loss of 12,246 over the year. Pocket change or "petty cash" perhaps??]
• Total assets unrestricted at end of year: 1,010,791.00
• Total revenue, gains, and other support: 1,113,823.00
• Total expenses and losses: 1,104,734.00 [Some fancy cooking, what?? They only grossed nine thousand dollars in 2007? Yeah, right.]

But here, fellow ex-members of the gulag, we have “the money shot”:

Current Officers, Directors, Trustees and Key Employees:

• Greg Albrecht
  • Title: President
  • Average hours per week devoted to position: 40
  • Compensation: 119,193.00 [Nice work if you can get it.]
• Monte Wolverton
  • Title: Sec/Treasurer
  • Average hours per week devoted to position: 40
  • Compensation: 90,289.00

But keep reading, it gets better:

Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees

Under name and address, it says: SEE STATEMENT 5.

Compensation: 197,850.00 [See below for a breakdown.]

And here’s the timeline of “Gifts, Grants, and Contributions Received” (That’s a euphemism for tithe money.)

• 2003: 1,037,875.00
• 2004: 1,020,461.00
• 2005: 1,166,909.00
• 2006: 1,110,851.00

So what that means is, the Plain Truth brings in a million bucks a year.

STATEMENT 5: (see above)

• Richard Dunn, “Fulfillment Director”, Salary: 81,127.00
• Marvin Wegner, “Art Director”, Salary: 61,549.00
• Dennis Warkentin, NO TITLE: 55,174.00

That means the salaries of five men equal 407,332.00. So where’s the other half-mil, boys?? And what does Dennis Warkentin really do for a living?

STATEMENT 6: Other Income:

• 2003: 317,568.00
• 2004: 165,659.00
• 2005: 82,706.00
• 2006: 32,582.00

Looks like the special offerings have been declining steadily. Either that, or they’ve found better ways to cook the books, over the years.

And there you have it. If you don’t believe me, look at the document yourself.