The treasurer’s report on Monday, November 3, day five of the 2025 NAD Year-End Meeting, was preceded by a powerful Pentecost 2025 testimony — one of many that week — framing the financial work of the division as essential to spreading the gospel.  

“This isn’t just a treasurer’s report,” Judy R. Glass, NAD treasurer and chief financial officer, stated as she took the stage. “It’s a report of how we’re using God’s money, how He’s blessed our church and ministry, and what we can do for ministry and mission.” 

In light of the NAD’s 40th anniversary, Glass shared a photo taken at the General Conference Session with former treasurers Juan Prestol, Tom Evans, and Randy Robinson, also acknowledging George Crumley, who was absent. “I am humbled to follow in the footsteps of these financial leaders. They’ve made a difference for the North American Division and the ministry we’ve been able to do. I stand on their shoulders.” 

She offered a quote by John W. Gardner, former U.S. Secretary of Health, Education, and Welfare: “We are continually faced with a series of great opportunities brilliantly disguised as insoluble problems.” 

One such problem was rethinking retirement contributions, as conferences found the percentage of tithe they were investing in the NAD’s defined benefit retirement fund unsustainable. After a year of prayerful deliberation, a solution emerged; and on November 2, delegates voted to reduce the contribution rate from 8.4 percent to 5.4 percent beginning January 1, 2026. The 3 percent reduction is for local conferences. Organizations that contribute based are their payroll are also receiving comparable decreases.

“I am so excited to see what that 3 percent is going to do in each of your territories, and I’m looking forward to hearing reports of how you’re using it to impact ministry,” Glass concluded. 

Glass then previewed 2026 ministry initiatives, including Pentecost and Beyond — extending this year’s division-wide evangelism initiative; the Alive in Jesus Children’s Sabbath School curriculum; the NAD’s strategic focus areas — media, mentorship, and multiply; the Antioch Initiative; and OneVoice27, a global media evangelism initiative of the GC.  

“We’re going to look at our audited financial statements from 2024 and see how God has blessed the North American Division through last year,” Glass continued. 

By year-end, operating assets totaled $206 million and operating net assets $114 million. Including plant assets, total assets were $250 million and net assets $170 million. Both operating and total net assets increased from 2023, with operating fund gains of $7.13 million and total gains of $7.87 million.  

Working capital — or assets available for day-to-day operations — reached 9.42 months by year-end, exceeding the six months recommended by the working policy. Days cash on hand was 401 days, sufficient to cover expenses without additional income for more than a year. 

Finally, Glass noted the financial impact of Pentecost 2025, which would be addressed later. 

Glass and others subsequently presented several reports, which the NAD YEM executive committee voted to approve. 

Bradford Newton, Pacific Union Conference president, gave the NAD Audit Review Committee Report as chair of the group that reviewed the audited 2023 and 2024 NAD unconsolidated financial statements. He noted that the NAD received an unmodified or standard audit opinion, and that management was excused following the audit discussion so the committee could meet with the auditor privately.   

Glass introduced a new report on how tithe dollars are used. Looking at all the world divisions, 35.7 percent of tithe goes to pastors and 29.2 percent to operating funds, with direct evangelism at the bottom. In the median of divisions, 39.7 percent goes to operating expenses and 36.4 percent to pastors.

“As we look at North America, 37.5 percent of tithe across the division is being used for pastors, 15.5 percent for education, and 14.5 percent[for] our retirement funding,” Glass said. She also shared that 14.9 percent of NAD tithe goes to operating expenses. “I’m very happy to see that in the North American Division we are putting an emphasis on using our tithe for ministry with our pastors, our education, [and] evangelism.”  

Next, Glass delved into Pentecost 2025. The NAD distributed $7.75 million to unions in 2024 and $1.27 million in 2025, along with $570,945 in program expenses, totaling $9.6 million. With ongoing fall evangelistic series, the total is projected to fall between $16 and $17 million.  

“We feel this has been a great investment. It’s been really fun to hear the [ministry] reports. Thank you for partnering with us and making this happen,” Glass said.  

Looking at 2025 year-to-date (YTD) unaudited financial statements through August, Glass shared that the NAD had an overall tithe gain of 1.08 percent. Four of nine unions exhibited gains, with the Southern Union leading at 2.3 percent. Notably, year-to-date tithe income of $81 million surpassed the budget by $2.8 million.  

Total funds available, including other income and released funds, rose to nearly $93.9 million, exceeding the $88.5 million budgeted by $5 million.  

The NAD’s cash and investments totaled $101 million, $23 million less than in 2024. Working capital stood at 5.89 months, just short of the recommended six months, while days cash available was 141, slightly below the 185-day (or half-year) target.  

Significant ministry investments drove higher expenses and losses. Total expenses reached $105 million, $7.9 million over budget, with daily expenses outpacing daily income.  The NAD reported an $11 million operating loss and a $7 million net loss; however, both figures were roughly $2 million better than projected.  

Glass paused to reassure attendees that the NAD typically receives double the amount of tithe in December as in the rest of the year. “December is a big month for us financially, and we’re looking to have that change the perspective [by year-end].” 

The year-to-date expense summary revealed that the NAD invested more than budgeted in church ministries, education, and conventions and meetings, including the General Conference Session. Church ministries include ministerial, church planting, evangelism, multilingual, children’s, women’s, family, prison, prayer, the Office of Volunteer Ministries, and Pentecost 2025. Other areas, such as administration and operations, were trending better than budgeted.  

“[This year], we’ve been focusing on mission and investing in helping with things around the division in ministry,” Glass asserted.  

Looking at the overall tithe for the North American Diviosn, she shared that total tithe received was $809 million, up from $803 million last year. “We’re thankful for how God is blessing us,” she concluded.   

Mid-America Union Conference president Gary Thurber presented the Compensation Review Committee’s findings on compensation paid from January 1, 2024 through December 31, 2024. They examined salary and travel budgets for each NAD employee and found that “everything was done properly and all the policies were followed.” 

Chad Grundy, NAD undertreasurer, gave the 2024 investment report, noting that the division’s investment funds are set aside for larger ministry opportunities and economic downturns. While no additional funds were added in 2024, existing investments appreciated by 7.9 percent.  

The portfolio’s asset allocation was approximately 10 percent equity and 90 percent fixed income, with the NAD achieving these gains by using GC Unitized Funds and TreasuryBills in a strong interest rate environment.  

The division began a long-term building depreciation funding account in 2022 to reduce annual depreciation funding. He added that the NAD will continue to evaluate asset allocations between their operating and operating reserve funds.  

Grundy also presented the 2026 budget assumptions, noting it is based on 96 percent of the 2024 gross tithe; the current year-to-date increase through September is 0.79 percent. 

He began by highlighting the decrease in percentage of tithes going to the GC from the division, from 3.85 percent to 3.0 percent in 2026.  

The budget includes a 2.7 percent cost of living increase, to be implemented July 1, 2026. However, travel and per diem have been budgeted at the same level as 2025 in the U.S. and Canada. The number of personnel is also neutral compared to 2025. 

Delegates later voted to approve the 2026 remuneration factor and allowances presented in the budget, which includes a 3 percent cost of living increase in Canada.   

Funding priorities encompass an up to $500,000 appropriation to ARM for premium reductions and an additional $500,000 to North American Division Emerging Immigrant fund for a total of $1,000,000. The 2026 budget also fully funds all NAD positions for the year and is balanced.  

Reviewing other budget line items, Grundy noted that appropriations to unions, conferences, and other organizations within the territory represent the NAD’s largest expense. For 2026, appropriations total $93,253,000, up $4,579,168. Thirty-seven percent of appropriations will go to education and 23 percent of appropriations to evangelism. He highlighted the “definite intentionality from the administration to send more to our unions and organizations.” 

Grundy reported increases in all categories except travel, with total budgeted costs rising from $145 million in 2024 to $151.5 million in 2025. 

Finally, Grundy shared the following breakdown for the budgeted $1.25 billion gross tithe: the NAD and GC will keep 13.9 percent, and the unions and conferences will retain the remaining 86.1 percent.  

Concerning the 2026 budgeted expense distribution, the largest percentage, at 41 percent, is going to programs, 25 percent to education, 19 percent to support services, 14 percent to church ministries, and 1 percent to publishing.  

The budget was overwhelmingly approved, with the understanding that adjustments may be made by NAD Administration when actual 2025 year-end tithe is finalized. 

JoJean Birth, associate director for GCAS in North America, grounded her presentation with a familiar verse. “In 1 Corinthians 10:31 Paul tells his believers in Corinth, whether, then, you eat or drink or whatever it is you do, do all to the glory of God.” 

Birth continued, “GCAS may not be involved or engaged in the frontline ministry of the Seventh-day Adventist Church, but we serve God and the constituents of the Seventh-day Adventist Church by ensuring accurate financial recording and reporting on compliance with General Conference and North American Division working policies.”  

She noted that of a total client base of 328, they had committed to completing 271, with most conducted annually but trust engagements being triannual assignments. In 2024, GCAS exceeded their annual workplan, with 277 audits completed or in progress.  

Last year, nearly 94.1 percent of North American Division audits received a standard or unmodified opinion, compared to 90 percent in 2023. Additionally, 3.4 percent were qualified (i.e., with an isolated misstatement), none received an adverse opinion, and only 3.5 percent were disclaimed audits (i.e., indicating insufficient financial information). Birth explained that they were determiningearly if they needed to withdraw from engagement instead of disclaiming.  

She also noted that 73 percent of NAD policy compliance reports violated at least one of the GC’s core policies, most commonly having missing or incomplete conflict of interest statements (31 percent) and remuneration and/or benefits not in harmony with policy (19 percent). This figure was slightly higher than 2023, which had 69 percent non-standard violations. 

She closed by pointing delegates to the global GCAS report and said, “Thank you for your support and your prayers.” [Click here to view the full 2024 GCAS report.] 

Interspersed throughout the treasury reports were several rounds of comments and questions from the floor. Several delegates expressed appreciation for the work of the NAD treasury team. Robert Folkenberg Jr., Southern New England Conference president, stated that most of the money saved in retirement fund contributions would help them avoid layoffs and ministry shutdowns. 

He was also one of several leaders speaking to the impact of Pentecost 2025. He shared that his conference had held 280 evangelistic meetings to date. “Thank you so much for supporting that. We feel it, and we appreciate it.”  

Brad Thorpe, president of the British Columbia Conference, noted that in his territory, the number of evangelistic projects had increased from 12 or 14 to 80. He encouraged the division to continue this initiative “[as] it is of immense help and motivation for the mission of the church.” 

Leidamae Solijon-Muse, principal of Fraser Valley Adventist Academy in British Columbia, Canada, thanked the NAD for consistently prioritizing education in its funding, and recognizing the role of education in “providing opportunities for our children five days a week to encounter Christ [and] develop a Christlike character.” 

Osvaldo Rigacci, retiring vice president for multilingual ministries, Southwestern Union, lauded the division for giving an additional $500,000 to immigrant groups. “We were praying for that for four years,” he said, adding, “I can retire happy now.” 

Among the suggestions from the floor were reviewing the funding policy for teachers to allow for more funding; looking for more efficiencies in doing mission, building up upon historic discussions at Dulles and the NAD last year; sharing how tithe works with younger members; and supporting Indigenous populations. 

Several delegates spoke to the need to communicate to members — particularly younger generations — how tithe dollars are spent and encourage stewardship. Bryant and delegates including John Bradshaw, It Is Written president, emphasized the responsibility the delegate body and constituents in churches, conferences, and unions have to educate their members on stewardship.  

As she concluded her official report,  right before the GCAS presentation, Glass thanked her treasury team and several other NAD departments for their contributions. She anchored her report in Psalm 46:1-2, NKJV: “God is our refuge and strength, a very present help in trouble.” 

Bryant drew attention to the 304-page budget, stating, “We really thank you for your work and the meticulous manner in which you do the work of the Lord to bring us to this point.” 

Finally, he said, “All in favor of the treasurer’s report as has been reported, please indicate by round of applause.” Applause was heard around the room instantaneously.  

[Click here to watch the complete treasurer’s report.] 

When the full day of financial reporting was done, Keith Goodman offered prayer. 

“Father, we’re so grateful to see how You are blessing Your church. It is not by might, nor by power; it’s by Your Spirit. We thank You for their leadership and their steady hand and seeking Your heart for what to do. We pray for the areas that need to be addressed. We pray You’ll give us courage to do what we can and not wait on someone else. In Christ’s name, we pray, amen.”