Treasurer’s Report 2010 GC Session
Atlanta, GA
Mission and Local Offerings as Compared to Tithe
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
1970 1980 1990 2000 2008
Mission Offerings Local Offerings Tithe
Mill
ion
s o
f D
olla
rs
Total Offerings as a Percentage of Tithe
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
1930 1940 1950 1960 1970 1980 1990 2000 2007
Total Offerings Mission Offerings Local Offerings
Worldwide Tithe & Offerings (Annual Average for 2005-2009 in Millions)
Tithe $1,726
70%
Offerings $732 30%
Tithe & Mission Offerings 2009 Compared to 2008
-9.0%
-8.0%
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
Tithe $-2.6 M or -2.8% Offerings $-4.3 M or -6.3%
-1.8% -2.1%
-6.5%
-8.5%
NAD
Other
$-1.2 M
$-1.4 M
$-.5 M
$-3.8 M
Gross Tithe In Millions
-
500
1,000
1,500
2,000
2,500
2005 2006 2007 2008 2009
North America Other Divisions Extraordinary
Mill
ion
s o
f D
olla
rs
Tithe Offerings
Offerings to GC $60
2.4%
Tithe to GC $84
3.3%
Total Tithe & Mission Offerings (Annual Average for 2005-2009 in Millions)
Phase-In of New Tithe Sharing Formula 2001-2009
40
50
60
70
80
90
100
110
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Old Formula New Formula Phase-In
Mill
ion
s o
f D
olla
rs
Tithe Received Including Tithe Exchange
0
20
40
60
80
100
120
140
160
180
200
2005 2006 2007 2008 2009
Tithe Tithe Exchange Extraordinary Tithe
Mill
ion
s o
f D
olla
rs
Total Mission Offerings In Millions
-
10
20
30
40
50
60
70
80
2005 2006 2007 2008 2009
North America Other Divisions
Mill
ion
s o
f D
olla
rs
Tithe and Mission Offerings to GC 2005 to 2009 In Millions
0
20
40
60
80
100
120
140
160
180
20052006
20072008
2009
$89 $93 $96 $95
$94
$41 $47 $56 $66
$60
Non-NAD
NAD
Mill
ion
s o
f D
olla
rs
Global Mission Income 2005-2009
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2005 2006 2007 2008 2009
Mill
ion
s o
f D
olla
rs
Donations Annual Sacrifice Offering
GC Funds 16%
NAD Hospital
Retirement 42%
NAD General Retirement
12%
Other Entities 30%
2009 Investments Managed by the General Conference
$782.66
$499.56
$254.96
$195.64
$0
$200
$400
$600
$800
$1,000
$1,200
Mar
ket
Val
ue
($
)
Date
S&P 500 Composite Barley Capital Aggregate Bond 3-Mo US T-Bill (S) CPI-U All Items
Growth of $100 Invested In Various Indexes For the Period December 31, 1986 to December 31, 2009
Net Return on GC Owned Investments (Net Market Fluctuations Plus Earnings)
-10
-5
0
5
10
15
20
Mill
ion
s o
f D
olla
rs
GC Owned Investments December 2009
• Operating $128.7 million
• Extraordinary Tithe 88.6 million
• Donor Advised 18.3 million
• Plant Fund 24.5 million
• Endowment Fund 22.8 million
• Other Funds 12.7 million
Total 295.6 million
General Conference Revenue Exclusive of Extraordinary Tithe & Unrealized Gains or losses
(Annual Average for 2005-2009 in Millions)
Tithe $84 44%
Offerings $60 32%
Gifts & Donations $8 4%
Restricted Income $16 8%
Other Operating $23 12%
Ingathering Funds 1990-2008
0
2
4
6
8
10
12
14
16
90 92 94 96 98 00 02 04 06 08
Mill
ion
s o
f D
olla
rs
Funds to the Church Through Planned Giving and Trust Services
0
50
100
150
200
250
300
350
400
22.2
53.9
112.7
178.5
197.4 219.7
263.8
351.7
Mill
ion
s o
f D
olla
rs
General Conference Expenditures Exclusive of Extraordinary Tithe
(Annual Average for 2005-2009 in Millions)
Appropriations $78 44%
GC Headquarters $36 20%
GC Administrated $39 22%
IDE (Missionaries) $21 12%
Other $3 2%
GC Budget Expenditures Exclusive of Extraordinary Tithe
(5 Year Comparative)
0
10
20
30
40
50
60
70
80
90
2005 2006 2007 2008 2009
Mill
ion
s o
f D
olla
rs
Appropriations
GC Headquarters
GC Administered Funds
Interdivision Employees
Other
Appropriations
Appropriations $78 Million 44%
Appropriations to the World Field through Divisions 2009
(Exclusive of Extraordinary Tithe)
0
1
2
3
4
5
6
Mill
ion
s o
f D
olla
rs
Appropriations to the World Field as a Percentage of Gross Tithe by Division - 2009
0%
10%
20%
30%
40%
50%
60%
70%
80%78%
Appropriations to GC Institutions 2009 (Exclusive of Extraordinary Tithe)
0
2
4
6
8
10
12
Mill
ion
s o
f D
olla
rs
Appropriations to GC Institutions as a Percentage of Gross Revenue in 2009
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
General Conference Auditing Service GC Portion of GCAS Cost
0
1
2
3
4
5
6
7
8
9
10
Mill
ion
s o
f D
olla
rs
Interdivision Employee Expenses (Missionaries)
IDE (Missionaries) $21 Million 11%
Interdivision Employee (Missionaries)Funding Actual Compared to Budget
12
14
16
18
20
22
24
26
Mill
ion
s o
f D
olla
rs
Actual Expense Budget
0
0.5
1
1.5
2
2.5
AIIAS AUA ECD ESD EUD IAD NSD SAD SID SSD SUD TED WAD
Div/Inst ADRA GCAS
Mill
ion
s o
f D
olla
rs
Cost to GC for Interdivision Employees By Division or GC Educational Institution-2009
Cost to GC for Interdivision Employees
by GC Division or GC Institution - 2009
0
0.5
1
1.5
2
2.5Appropriations
Mill
ion
s o
f D
olla
rs
GC Administered Funds
GC Administered $39 Million 21%
GC Administered Funds Average Annual Expense 2005-2009
• Adventist Missions (Global Missions) $7.8 million
• Hope Channel 4.7 million
• Adventist World 4.4 million
• Charitable Gift Fund Appropriations 4.0 million
• Disaster and Famine Relief 2.5 million
• 13th Sabbath School Projects 2.2 million
• GC Session Costs 1.2 million
GC Administered Funds
0
10
20
30
40
50
60
2005 2006 2007 2008 2009
Funds
Mill
ion
s o
f D
olla
rs
Largest GC Administered Funds
0
5
10
15
20
25
2005 2006 2007 2008 2009
Hope Channel Adventist Mission Adventist World
Mill
ion
s o
f D
olla
rs
GC Headquarters Operations
GC Headquarters $36 Million 19%
GC Headquarters Operating Compared to Spending Limit Set by GC Executive Committee
10
15
20
25
30
35
40
45
Mill
ion
s o
f D
olla
rs
Actual Expenses Spending Limit (Cap)
GC Headquarters Operating Compared to
Total World Tithe and Offerings -2008
Total World Tithe and Offerings
GC Operations 1.6%
Balance Sheet – Total Assets December 31,2009
Cash & Equivalents $75 Million
Total Assets $399 Million
Accounts Receivable $39 Million
Notes and Loans Rec
$.4 Million
Inv\Prepaids $2.2 Million Plant Assets
$35 Million
Other Assets $71 Million
Extraordinary Tithe Extraordinary Tithe
Investments $176 Million
Cash Equivalents Plus Short Term Investments
0
50
100
150
200
250
300
2005 2006 2007 2008 2009
Regular Funds Extraordinary Tithe
Mill
ion
s o
f D
olla
rs
Balance Sheet–Liabilities and Net Worth December 31, 2009 Millions of Dollars
Net Assets, $305
Accounts Payable, $80.2
Agency Funds, $0.8
Deferred Income, $0.3
Other Liabilities, $13.5
Extraordinary Tithe
Total Operating Fund Net Assets (Net Worth in Millions)
Mill
ion
s o
f D
olla
rs
0
50
100
150
200
250
2005 2006 2007 2008 2009
$114 $137 $141 $143
$162
$81
$35
$37
Net Assets Extraordinary Tithe
Plant Fund - Fixed Assets and Unexpended Funds
0
10
20
30
40
50
60
2005 2006 2007 2008 2009
Mill
ion
s o
f D
olla
rs
Net Invested in Land, Buildings & Equipment Unexpended Plant Funds
Hope Channel Studio
Endowment Fund-Net Assets
0
5
10
15
20
25
30
2005 2006 2007 2008 2009
Mill
ion
s o
f D
olla
rs
Quasi Endowments Permanently Restricted Endowments
Endowments Comparing 2004 and 2009
0
2
4
6
8
10
12
14
16
18
AWR Other Adventist
Mission
Mill
ion
s o
f D
olla
rs
2005 2009
Working Capital 2005-2009
Exclusive of Extraordinary Tithe
0
20
40
60
80
100
120
140
160
180
2005 2006 2007 2008 2009
Actual Working Capital
Recommended Working Capital
101% 106% 107% 105% 109%
Mill
ion
s o
f D
olla
rs
Supplemental Budgets 2000-2009
0
1
2
3
4
5
6
7
8
9
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009Phase in of Tithe Sharing & Cap
Mill
ion
s o
f D
olla
rs
Liquidity Calculation Exclusive of Extraordinary Tithe
0
20
40
60
80
100
120
140
160
2005 2006 2007 2008 2009
Mill
ion
s o
f D
olla
rs
Current Liquid Assets Commitments
128%
158%
133% 161%
148%
General Conference Budget as a Percentage of Total Tithe and Mission Offerings
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
1930 1940 1950 1960 1970 1980 1990 2000 2009
Healthcare, Education,
Publishing, etc
Church, Conf, Union, Div GC
Headquarters
GC Appropriations,
IDEs, etc
2009 Revenue by Line of Work Compared to GC Budget
2009 Figures are Best Estimates
23%
1.2%
.3%
We can see only a little way before us; “but all things are naked
and opened unto the eyes of Him with whom we have to do.”
He never becomes confused. He sits above the confusion and
distractions of the earth, and all things are opened to His divine
survey; and from His great and calm eternity He can order that
which his providence sees is best.
If we were left to ourselves to plan, we should make mistakes.
Our prejudices, our weaknesses, our self-deceptions, and our
ignorances would be manifest in many ways. But the work is
the Lord’s, the Cause is His; He never leaves His workmen
without divine directions.
The servant of the Lord, Ellen White, wrote in
My Life Today, Page 10
Thank you.