Inter-American Division Financial Report Kicks Off with Prayers of Gratitude

At year-end meetings, leaders praise God for helping keep the regional finances strong.

November 14, 2024 | Monterrey, Nuevo Leon, Mexico | Inter-American Division News

The 2024 financial report of the Inter-American Division (IAD) at the regional year-end meetings in Monterrey, Nuevo Leon, Mexico, November 12, kicked off not with the usual charts, diagrams, and figure-sharing but with something entirely different: moments of praise and prayers of gratitude to God.

“We want to start by thanking God, who provides at all times,” said IAD treasurer Ivelisse Herrera as soon as she approached the podium to share her report. “By God’s grace, our division finances are strong, and our God deserves all the glory and honor for it,” she said. Herrera then referenced verses from the Bible to remind the more than 160 church leaders and institutional administrators that “God gave the increase” (1 Cor. 3:6) and that it is “not unto us, O Lord, not unto us, but to your name be the glory” (Sal. 115:1).

Positive Trends

When the time for sharing figures and percentages arrived, Herrera said she was pleased to share that so far, 2024 is showing a 4 percent increase in tithes calculated in US dollars. Indeed, in the last five years, tithes have increased an average of 7.48 percent, above the 6.09 percent average over the last 34 years. Offerings are also up 8 percent, above the 34-year-average of 5.78 percent.

Likewise, liquidity, or the ability to convert a security to cash or pay short-term debts on time, reached 18 months, tripling the 6 months required by policy. Working capital, or the difference between current assets and current liabilities, reached 26 months against the 12 months established by policy.

There are other positive trends. In the last few years, appropriations, or the money the IAD distributes across its territory, has been well above what had been budgeted, Herrera reported. And the IAD’s total net assets have experienced a 13.5 percent increase.

Herrera explained that all of the above plus a careful management of expenditures have resulted in a positive financial performance in the black in 2024. “When we see these figures, we can’t help but ask, dear leaders, ‘Has God been faithful with His people in these last few years?’” Herrera asked. “Indeed, He has!” she answered.

Ongoing Professional Support

As part of an initiative of providing ongoing support to financial leaders across IAD 24 unions, the IAD financial team has continued visiting each region to assess their financial state, identify challenges, answer questions, and provide suggestions. In the last few months, an IAD financial team visited the Central Mexican Union, the Inter-Oceanic Mexican Union, the French Antilles and Guyana Union, and the El Salvador Union, Herrera reported.

Union financial leaders said they valued the visit of their division counterparts and thanked the IAD team for their ongoing support and assistance. “It was a pleasant and enriching experience,” acknowledged Public Accountant Edmundo Gómez, treasurer of the Central Mexican Union, in a video message shared during the year-end meetings. “We were challenged to strengthen our stewardship and an efficient use of resources to fulfill the church’s mission.”

Juan Morán, who serves associate treasurer at the IAD visited some of the unions as a member of the IAD team, also found the experience extremely positive. “It was wonderful to spend time with colleagues whom I only used to connect by email or phone,” Morán said. “These visits allowed us to see first-hand some of the challenges some institutions are facing and suggest how to better support them.”

Appropriations to Unions

The next part of the report included a presentation by IAD under treasurer Abilio Cima, who explained the use of tithe and the IAD operating budget for 2025 according to policy. Cima reminded members of the IAD executive committee that next year, unions will be sending the IAD 4 percent of their offerings. He then explained how appropriations to the unions more than double that amount. “So, the funds you send return to the field, and the division sends back even more,” Cima emphasized.

Herrera asked members to vote on a request that during the next quinquennium, that 4 percent of offerings income be used for specific purposes. These include, she explained, 1 percent of that amount for non-tithe base appropriations (to fund part of the funds sent to the territory), another 1 percent for digital evangelism (including digital media projects), and 2 percent for institutional development (including church construction projects).

“We feel the Inter-American Division has been regularly close to us,” said Winston Hiciano, treasurer of the Dominican Union, reacting to the request. “While we know there have been discussions about how to better use these funds, we know that the division is there to support us when we need it, and we can see how, one way or the other, God always blesses His church.”

IAD President Pastor Elie Henry agreed. “This is strategic,” he emphasized. “Beyond the 4 percent, what is important here is the intention of the 4 percent, as all unions join forces to support development and mission project across our territory.”

Strengthening the Auditing Process

As part of the treasurer’s report, members listened to a presentation by Irma Atencio, who serves at the General Conference Auditing Services (GCAS) for the Inter-American Division. Atencio shared some of the challenges of auditing fields and institutions with certified auditors across the 42 countries comprising the IAD.

Atencio reminded that just like any other church department and service, “every audit report is a mission.” She added, “we are part of a team that seeks to keep church finances safe and accountable. And we guarantee that the information church members get is real.”

With 226 accounts in their responsibility portfolio in the IAD, the GCAS work is monumental, Atencio acknowledged. Their annual plan currently includes an assessment of just 66 of those clients between January and September 2024, she shared.

After detailing some of the ongoing challenges in the service they provided, Atencio called every leader to make sure their territories comply with the current policies. “Remember that our intention is to always support the work of treasurers,” she said.

Looking Toward the Future

In the last part of the November 12 report, Herrera mentioned some of the issues that the team she leads suggest taking into account. These include making sure the benefit plans for church workers are well funded, fostering systematic reporting and accountability, and strengthening finances as the territory keeps focused on mission, evangelization, and church planting and growth.

“We look forward to the future, but as we move forward, we do it watching and praying,” she said. “Let’s be faithful, and may the Lord find us doing our part when He returns.”

Feedback from the Floor

Several leaders went to the microphones to comment on the financial report.

“We have witnessed an outstanding report,” said retired IAD treasurer Filiberto Verduzco. “Watching this report fills us with certainty and trust in the Lord.”

Verduzco, on the other hand, provided some context to the discussion of the approved redistribution of the 4 percent of offerings the unions sent to the IAD. “Don’t forget that unions and the IAD are partners in mission,” he said.

Based on his long experience, he shared some examples of how the IAD has often went out of the way to support its unions financially. “Let’s look at the full package that is based in the fulfillment of the church’s mission,” Veduzco suggested. “And in this, we are all partners,” he emphasized.

Puerto Rico Union president Luis Rivera also congratulated the administration for the financial results reported. He questioned, however, how wise it is to keep liquidity and operating capital so high, when those funds could be applied to immediate needs. “Could it be that we are hoarding more than we need?” he asked.

“We must remember the context we are living in,” said Pastor Henry as a way of an answer, pointing out to what he called “the chronic instability of our region.” It is the reason the division is always alert “to go beyond what has been budgeted and to make provision.”

After several more comments, members overwhelmingly voted to accept the report as presented.