Direction For Our Times: – Accounts: Private Enterprise & Private Revelations

In light of the Live Line programme today Monday September 26, we publish the accounts for an earlier period. There was a reference to the fact that Direction For Our Times was trying to buy Kilnacrott Abbey and that the purchase had stalled.

v-26091118m14sliveline.mp3-pid0-1094040.mp3

http://www.youtube.com/watch?v=GyANibCqWmM

http://www.youtube.com/watch?v=ljGa2ehGgu0

http://www.youtube.com/watch?v=UqAsR74ncCU&feature=related

Here we find that on January 24, 2008, Direction for Our Times – Ireland signed a contract to purchase Holy Trinity Abbey. The price for the buildings and land, totaling approximately 44 acres, is 2,500,000 Euros.

Closing is scheduled for December 8, 2008, and we are now actively working to raise the necessary funds to complete the purchase.

http://www.directionforourtimes.com/An%20Opportunity%20for%20Grace_WEBSITE.pdf

From what Father Darragh Connolly said on Live Line this is not going ahead.

Here is the FALL/WINTER 2008 ISSUE 11/12 of their newsletter, which shows the developments just before the Abbey was to be purchased. Fr. Kevin Scallon, C.M. delivering a homily Rosary Hill in the States. Now he is not so sure?  At the same event was Dr. Mark Miravalle, Professor of Theology and Mariology at Franciscan University at Steubenville. He is a staunch defender of this group as revealed on Live Line last week.

https://dialogueireland.wordpress.com/2011/09/25/joe-duffys-liveline-on-anne-a-lay/

Here we publish a blog piece from Kevin Symonds

http://d-rium.blogspot.com/2010/10/direction-for-our-times-financial.html

and the financial documents he alludes to.

01049389-2009

DFOT_01049389-2010

Illinois_DFOT_Tax_Summary

We note that  Father Darragh Connolly has received compensation of $57,000 not from his Diocese but from Direction For Our Times.

Wednesday, October 06, 2010

Direction For Our Times: Financial Wrapsheet & Private Revelations

The other day I published a short article that inquired after the “compensation” that Direction For Our Times provides Kathryn Ann Clarke (a.k.a. Anne a lay apostle). I posted a link to the specific amount of this “compensation.”

A reader was kind enough to go through the available tax records (a matter of public record and knowledge) and compile a short summary to help “digest and highlight the financial flows of [DFOT].”

I leave all the mathematical fact-checking to you, the readers, but I think there is some merit to inquiring about the information.

There are some considerations that arise from the information, but I leave that to the readers to investigate and ask the questions.

-KJS

———————-

Financial Narrative of DFOT For the five years ended 6/30/2005 through 6/30/2009

The basis for this financial narrative is the organization’s Form 990 filings which are publicly available. The first Form 990 for the year of 2004 (year ended 6/30/2005) was not available. However, the year 2005 (year ended 6/30/2006) included much of the financial information needed from the prior year, but did not include a breakdown of expenses and executive compensation for the 2004 fiscal year.

When we look at DFOT as an organization over their first five years ending 6/30/2009, they have Gross Receipts of $5.3 million which is comprised of two main components –

· $3.6 million of book/merchandise sales and

· $1.7 million of cash contributions.

The next observation is where was this significant amount of cash flow was spent/used.

According to their financial statements, this $5.3 million of cash receipts was used as follows:

I. Over $4 million of cash was used for expenses in running DFOT, which includes $920,000 of direct compensation to the officers (President, Executive Director, Treasurer, Chaplain, Board Members). Since we do not have the expense breakdown for the 2004 year which totals about $230,000 – the total amount of executive compensation likely exceeds $1 million.

a. Nearly $600,000 in other employee wages for people who are publicly unknown and may have familial or business relationships to the executive officers.

b. Cash Grants sent to Ireland totaling $530,000 for the years 2007 and 2008.

c. Over $360,000 of donated books.

d. A total of a quarter of a million dollars ($251,000) for Travel.

e. $230,000 of total expenses in 2004 for which we have no breakdown.

f. Professional Fees of $170,000

g. Publication Costs of $115,000

h. The tally of the above expenses identified is $2.8 million. Therefore, all remaining expenses also total a significant amount of $1.2 million.

II. $950,000 in Costs of Goods Sold, which should represent the amount of cash paid to produce/purchase the books/merchandise which were sold. We are unaware of the suppliers, contractors, or promoters who were paid.

III. From the total Cash Receipts of $5.3 million, less the $4 million of expense and $950,000 of Cost of Goods Sold, results in $350,000 remaining. This is represented in the Cash remaining at 6/30/2009 of about $300,000 and $50,000 of net assets.

Who was paid what – according to the Form 990’s?

A. Kathryn Clarke was paid in excess of a quarter million dollars of compensation as President. Additionally, over ½ million dollars was provided to Kathryn in the form of a Cash Grant to establish DFOT in Ireland. The total expense disclosed is $530,000 Cash Grants to Ireland and the Statement of Activities Outside U.S. section of the 2008 (6/30/2009) Form 990 related to this grant states $118,000 of expenditures. Nothing is known for what or to whom this money is being provided.

B. —– ——–, Executive Director and Board Member, has received compensation of $220,000.

C. Stephen Logan, Treasurer, has received compensation of $345,000.

 D. Father Darragh Connolly has received compensation of $57,000.

E. As significant as these known payments are, the unknown payments to suppliers, contractors, and other vendors are far greater. These can only be obtained by an audit of the companies set of books or general ledger.

————————-

Posted by Kevin Symonds  at 10:40 PM

Labels: anne a lay apostle, direction for our times, private revelation

3 Responses

  1. anne the scam apostle kilnacrot abbey is seemingly been bought now for fraction of price what a total disgrace ! also sr briege mckenna withdrew support she has gift to read souls and seen through her author scam

    Like

  2. No but we have not covered this group for some time. Feel free to send us an update for publication

    Like

  3. Do you have any new information regarding DFOT activities? (Anne has received her last locution 08/01/12)

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: