![Ivelisse Herrera, treasurer of the Inter-American Division, presents her financial report during the Year-End Executive Committee Meetings on Nov. 1, 2023. [Photo: Libna Stevens/IAD]](https://jmunion.org/wp-content/uploads/2023/11/ivelisse-herrera-yem23-500x375.jpg)
November 3, 2023 | Miami, Florida, United States | Inter-American Division News
The financial position of the Inter-American Division (IAD) is strong, and we give all the glory and honor to God, IAD treasurer Ivelisse Herrera shared at the beginning of her report to the members of the IAD Executive Committee on Nov. 1, 2023. The report, titled, “The Financial Soundness to Support the Mission,” saw Herrera and her team share the numbers, the story behind the numbers, and the lessons for the numbers with scores of church leaders, administrators, and lay delegates to the 2023 IAD Year-End Meetings in Miami, Florida, United States.
“It’s true that the efforts of all of us can be seen reflected in the results we have achieved, we should never forget what Apostle Paul said when he wrote that God gives the increase [1 Cor. 3:6],” said Herrera. “We are just instruments in God’s hands.”
Tithes and offerings
The positive results are reflected in the amount of tithes and offerings from January-October 2023, in comparison with 2022. Herrera reported that tithes in the IAD have experienced an almost 16 percent increase when converted to US dollars. “It is an unprecedented increase in the history of Inter-American Division,” she said.
She explained that 23 unions reporting experienced growth, with the South Central American (SCAU) and the West Venezuela Unions showing a 26 percent increase in tithes collected in 2023. Offerings have also increased an impressive 18.46 percent, reported Herrera. “The information we are sharing here is evidence of the faithfulness of church members across the Inter-American Division,” said Herrera.
But that does not tell the whole story, she said, as offering have increased substantially also when calculated in local currencies. Even when considering that inflation may have affected these figures in some countries and the current strength of the Mexican Peso, several unions experienced a never-seen-before increase of more than 30 percent in offerings calculated in local currencies. One union even reported a 43 percent increase, said Herrera. “Throughout our territory there have been increases, and we praise God for His blessings,” she said.
Everyone benefits
Positive financial results trickled up and trickled down to various parts of the Adventist organization, Herrera’s report showed. For instance, the per-policy contribution of the IAD to the General Conference (the world church headquarters) increased 18 percent. And additional tithing funds sent to the GC increased 45 percent compared to 2022. This is because the region’s net tithe income experienced a 19 percent increase, and non-tithe income a 23 percent. The total operating income experienced a 10.8 percent increase, Herrera reported, while expenses remain the same. At the same time, appropriations to the field (to the IAD unions) increased almost 12 percent more than what was sent in 2022 and 49 percent over budget.
“When seeing these numbers, I think you will agree with me that we must repeat the words of Samuel the prophet,” said Herrera in reference to 1 Samuel 7:12, where it reads, “Thus far the Lord has helped us.” Herrera then called for a prayer of gratitude for God’s abundant blessings.
Following a policy of the GC, which calls for a regular accountability report on the use of tithe, Herrera shared that in 2022, most IAD tithe amounts were spent in the regional headquarters operations (28.8 percent) and appropriations to unions (27.8 percent). Besides non-used funds, the rest of the amount was used for retirement contributions and Adventist education, she reported. Unions and local fields, on the other hand, spent 40.7 percent for pastors, evangelists, and workers in the field; 27.8 for the headquarters operations; and 11.2 percent in education, among other items.
Operating budget
After Herrera, IAD Under Treasurer Abilio Cima shared the operating budget for 2024.
“The Lord has done marvelous things in the territory of Inter-America; therefore, the honor and glory are His,” said Cima as he thanked the treasurer for her “complete and precise report,” the treasury team, and every union that sent the reports on time.
Cima shared that as of October 31, liabilities are just 35.6 percent of the total assets against 64.4 percent net assets (which have experienced a 10 percent increase in 2023). He was happy to report that liabilities (or debts) have decreased 4 percent since the beginning of 2023. The surplus reported at the end of October showed a large amount, Cima reported, and the IAD expenses are under budget.
At the same time, Cima reported that working capital (assets minus liabilities) experienced a 9 percent increase is currently 23.5 months, almost doubling what is required by policy. Liquidity (the ability to pay debts when they fall due) experienced an 8 percent increase and more than doubles what is required, he reported.
