During the 2025 Spring Meeting, Paul H. Douglas, General Conference (GC) treasurer, reported that the GC's financial position as of Dec. 31, 2024, is "strong," with net assets totaling approximately $338 million, 94% of which are held in cash and investments.
"We are strong because our God is strong," said Douglas. "The financial strength of the GC is not because of our own accomplishments. It is rather because of God's divine purpose to provide us what we need to do His work."
Tithe income reached $86 million, exceeding budget projections by approximately $4 million and surpassing the 2019 pre-pandemic benchmark by $3 million. More notably, offerings exceeded tithe for the first time, with 2024 offerings reported at $31 million, more than the 2019 reference year.
Douglas noted this shift suggests "an interest in the global mission of our church is being reignited in the hearts and minds of our church members." He added that this attention to global work will have a "reflex influence" to make local church work "more prosperous."
Program expenses rose to approximately $181 million in 2024, up 6% from the previous year's $172 million. Douglas attributed this increase to inflation, expenditures related to restricted funds, and responses to world field emergencies, including natural disasters and economic conditions. Supporting services expenses totaled $52 million, a 5% increase from 2023's $49 million, yet remained under the mandated operating expense cap.
The GC reported 14.6 months of available working capital and 11.6 months of liquid assets, exceeding the committee's voted targets of 12 months and 9 months, respectively. Douglas emphasized continued conservative investment practices focused on monitoring portfolio quality, maintaining conservative weighting toward cash and fixed income securities, and maximizing opportunities for higher-yielding fixed income securities.
J. Ray Wahlen II, GC undertreasurer, confirmed that GC operations ended the year at 82.69% of the expense cap, which is $10.5 million below the allowable limit. This is despite a worldwide church tithe decrease of 2.8% ($88.2 million) from 2023's "high watermark." Wahlen noted that operating expenses in 2024 were only 5.8% higher than in 2018, representing an annual average increase of less than 1% over those six years.
Douglas also reported that $9,220,700 remains available for distribution from the Extraordinary Tithe Fund, with another $9 million already allocated but being held for distribution as needs arise.
The financial report, along with the operating expense cap report and extraordinary tithe fund update, was unanimously approved by the Executive Committee with 163 votes in favor and none opposed.
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