Adventist Book Center

 

 Mission Statement

Adventist Book Centers are the established distributors and service centers for denominational publications, Sabbath School materials, audio visual aids, music, Bibles, food and other items to serve the needs of the Seventh-day Adventist church. We are recognized conduits through which materials produced by our publishing houses and other suppliers will be distributed to our customers.

It is the purpose of these materials to enhance spiritual growth and healthful living of church members and to be a spiritual outreach to the public, presenting the unique beliefs and lifestyle of the Seventh-day Adventist Church.

We are pleased to report that during the past four years total sales in the ABC have increased more than $54,000. Sales of Adventist merchandise amounted to 53.6% of this total, with food comprising 36.9%. Non-Adventist merchandise reflects the final 9.5% of total sales.

Please refer to the accompanying graphs for an overview of how our sales have progressed during this quadrennium. You will notice from the graph on page 3 there has been only a very slight increase in bookmobile sales since our last session. We will, however, continue to supply the needs of our outlying constituents with books, food, and other supplies for spiritual and physical health through our bi-annual bookmobile trips. We annually attend the Women’s Retreat in Prescott with a display of books to sell and average between $3,000-$5,000 during that weekend each year. These sales are included on the In-store Sales graph.

The Adventist Book Center is basically a self-supporting department of the Arizona Conference; that is, it generates income to pay its bills. We operate with two full-time employees and one part-time employee. The price of all books is normally set by the publishing houses with profits ranging from 10% to 45% of retail, and our profit on all sales averaged 27.9% during the past fiscal year. Approximately one-third of total sales involves periodicals and school textbooks that receive only a 10% profit margin. Expense of operation is continually on the incline. For example: salaries, property and health care insurance continue to increase. And with the increased use of credit and debit cards, our bank charges are on the rise. In 2006 our bankcard expense was nearly $10,000. We have open accounts with our churches and schools, and continue to encourage these entities to keep their accounts current. We do feel the Adventist Book Center is in stable financial condition and are thankful for God’s continued blessings.

Our goal is to supply quality books, Bibles, music, literature and food at the best possible prices and still maintain a reasonable gross profit. The ministry of the Adventist Book Center is an essential part of finishing the work and we are happy to be a part of this conference service organization.

    Judy McGee, Manager

ARIZONA ADVENTIST BOOK CENTER

STATEMENT OF INCOME AND EXPENSE

December 31, 2006 and December 31, 2005

Net Sales -2006


SDA

$501,698.36
53.6%

NON-SDA

$88,460.18
9.5%


FOOD $344,954.20

36.9%


TOTAL $935,112.74

 100.0%

 Net Sales -2005

 $496,373.49
53.8%

 $75,565.40
8.2%

 $351,905.21
38.0%

 $923,844.10
100.0%

Gross Profit on Sales 2006

 

 

 

 

$260,867.56
27.9%

 

Gross Profit on Sales 2005

 

 

 

 

 $259,484.54
28.1%

Income From Operations

                December 31, 2006 

          December  31, 2005

     Total Sales -Net

$935,112.74

 

100.0%

 

$923,844.10

100.0%

     Less: Costs of Goods Sold

$674,245.18

72.1

$64,359.56

71.9

          Gross Profit on Sales

$260,867.56

27.9

$259,484.54

28.1

     Other Operating Income:

 

 

 

 

          Finance Charge Income

$1,460.36

   .2

$1,745.04

   .2

    Gross Operating Income

$262,327.92

28.1

$261,229.58

28.3

Operating Expense

 

 

 

 

     Workers: Salary and Expense

$157,025.63

14.2

$135,965.16

14.2

     Retirement Fund Expense

$21,934.47

 2.3

$20,606.50

2.2

     Social Security Expense

$4,968.10

   .5

$4,646.98

  .5

     Selling Expense

$30,014.78

 3.2

$26,018.95

2.8

     General & Adm. Expense

$71,185.96

 7.6

$80,411.02

8.7

          Total Operating Expense

$285,128.94

30.5

$268,019.06

29.0

     Net Operating Gain or Loss

<$22,801.02>

<2.4>

<$6,789.48>

<.7>

Other Charges and Credits

 

 

 

 

     Appropriations

$28,200.00*

 3.0

$28,200.00*

3.1

     Interest Earned

$6,940.41

   .7

$3,568.61

  .4

     Other Income

$423.97

   .0

$135.20

  .0

     Other Expense

2,717.28

   .3

247.50

  .0

          Total

$38,281.66

 4.2

$32,151.31

3.5

     Net Inc. <Dec.> to Net Worth    

$12,763.36

 1.4

$22,114.33

2.4

 

 

      *Reflects $28,200 rent which is appropriated back from Conference per auditor's request.