Treasurer's Report

It is my privilege to present this financial report for the Northeastern Conference (Conference) of Seventh-day Adventists for the years 2021 through to 2024. As we reflect on God’s goodness and faithfulness, we are reminded in His Word:

“Moreover, it is required in stewards that one be found faithful.” – I Corinthians 4:2

This scripture calls us to be diligent and transparent stewards of every resource entrusted to this ministry. Through the faithful tithes and offerings of our congregations and supporters, we have been able to advance the mission of sharing the Gospel and serving our community.  

While the financial position of the Conference is stronger than it’s ever been, our financial position is not merely a reflection of numbers on a page but a testimony of God’s provision and your faithfulness. As the Apostle Paul wrote:

“But my God shall supply all your needs according to His riches in glory by Christ Jesus.” – Philippians 4:19

Thank you for your continued faithfulness in giving and for partnering with us in advancing God’s kingdom. May we be encouraged by His promise:

“Bring the whole tithe into the storehouse…and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it.” – Malachi 3:10

This report and the accompanying audited financial statements detail how your contributions have been prayerfully managed and invested in kingdom work. Together, we are witnessing lives transformed, communities impacted, and the Gospel proclaimed.

Tithe Revenue 2021 – 2024

Our principal source of revenue remains the faithful tithe contributions from our 223 congregations. These contributions are the foundation that enables us to advance our mission—effectively evangelizing, sustaining our extensive educational system, and funding the diverse ministries that serve our organization and community.

As reflected in the chart below, gross tithe for the four years ended December 31, 2024, totaled $210,430,594, representing an increase of $27,971,239 or 15.3%. During this period, the Lord graciously blessed our Conference, allowing annual tithe to surpass $50 million for the first time in 2022.

^{Please note that the 2024 figures are unaudited.}

In accordance with established policy, the Conference allocates a portion of gross tithe to the higher governing bodies of the denomination, as well as to Oakwood University and the Regional Conference Retirement Plan (RCRP).

The following chart illustrates tithe distribution for the four years ended December 31, 2024.

Other Income Sources

Appropriations from Higher Organizations

The Conference receives additional support from the Regional Capital Reversion Fund, which provides financial assistance for regional conference building projects. The North American Division allocates 6% of the tithe it receives, distributing funds to two to four conferences each year. Northeastern Conference received $473,095 in 2021 and $481,315 in 2024.

The Conference also receives annual appropriations totaling over $2 million from the North American Division (NAD) and the Atlantic Union. These appropriations are designated primarily for evangelism and K-12 education with the amounts determined as a percentage of tithes received by the Conference.

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Northeast Development Corporation (NEDC)

The Northeastern Education and Development Corporation (NEDC) was established in October 2019 to acquire, develop, and maintain properties for charitable and educational purposes. At that time, the Conference transferred title of the former Northeastern Academy building to NEDC and executed a 49-year ground lease with tenant, generating $6 million upfront and $1.2 million annually for the first five years, with 10% increases every five years.

During this quadrennium, NEDC income has been applied in accordance with its mission, including a $2 million appropriation to the Conference to strengthen the ten schools in the Northeastern Adventist Academy (NAA) school system.

Ground Leases of Church Property

At the last constituency session, it was reported that three congregations had approved long-term ground leases designed to generate sustainable income for both the local churches and the Northeastern Conference. These leases continue to be an important and reliable source of recurring revenue.

As of July 2025, total rent proceeds received from these ground leases during the current quadrennium amount to $1,177,193, of which $235,439 (20%) has been retained by the Conference in accordance with voted Executive Committee policy.

The additional income, coupled with the overall increase in capital, has strengthened the Conference’s financial position and enabled a significant expansion of its deposit balance in the Atlantic Union Revolving Fund (AURF). This enhanced credit capacity has, in turn, provided multiple congregations with access to AURF financing for critical capital improvements and facility renovations. Moreover, several churches have used loan proceeds to settle outstanding obligations with the Conference and to refinance higher interest debt previously held with commercial lenders, thereby reducing costs and improving long-term financial sustainability.

Paycheck Protection Program (PPP) Loan Forgiveness

The Federal Government’s Paycheck Protection Program (PPP), established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, was designed to provide forgivable loans to eligible organizations to maintain payroll and cover certain operating expenses during the COVID-19 pandemic.

In 2020, the Northeastern Conference secured PPP funding in the amount of $5.5 million. In accordance with program requirements, much of this amount was forgiven, with the remaining balance of $1.4 million fully repaid in May 2025. This funding was instrumental in sustaining staffing levels, supporting core ministries, and mitigating operational disruptions during the most challenging period of the pandemic.

Evangelism

Throughout the quadrennium, the Conference made a sustained commitment to evangelism, with significant resources budgeted and expended each year in support of this core mission as depicted in the following graph. These efforts were further strengthened by appropriations from both the Atlantic Union and the North American Division, including dedicated initiatives such as Pentecost 2025, which contributed over $1.1 million to the 191 Conference churches participating in Pentecost 2025.  

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Education

Education and evangelism have been inseparably linked since Jesus commissioned His disciples to “go… make disciples, baptize them, and teach them to observe all things I have commanded you” (Matt. 28:19-20). In alignment with this mission, the Northeastern Conference continues to make substantial financial investments in Christian education as a vital component of evangelism.

In 2022, the schools within the Northeastern Conference were restructured into the Northeastern Adventist Academy (NAA) system, now encompassing ten schools under a model that places greater financial responsibility and support at the Conference level. To this end, the Conference has implemented the following measures:

• Scholarship Program: In 2022, we launched a need-based scholarship program tied to household income, ensuring that no child is denied access to an NAA school due to financial constraints.
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• Church Support: By Executive Committee action (March 2022), local churches are required to remit 2.5% of combined budget offerings to support Conference constituent schools. Following is a graph of the amounts received from 2022 through 2024.

• Conference Subsidies: The Conference provides financial coverage ranging from 50%–100% of utilities, liability insurance, and building repairs, based on the level of shared use of school facilities.
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• Capital Appropriations: During the quadrennium, the NEDC appropriated $2 million to subsidize scholarships, building renovations, utilities, and liability insurance.

In 2024, the Executive Committee authorized the write-off of $5.7 million in uncollectible remittances owed by schools for several years prior to the 2022 restructure. This included balances from schools that were either merged or closed. This strategic action provided a financial reset, allowing both the schools and the Conference to move forward with improved transparency, accountability, and renewed stability.

Despite these initiatives, financial challenges persist. Schools continue to struggle with meeting their remittance obligations toward their teachers’ salaries. As of July 2025, NAA schools owed the Conference more than $3 million, with approximately 92% of this debt concentrated in four campuses: Brooklyn Campus PK–8, Brooklyn Campus 9–12, Queens Campus, and Westchester Campus.

The administration takes this matter with utmost seriousness. We are actively engaging with school leadership and boards to implement corrective strategies, including structured repayment plans and strengthened financial oversight. Our commitment is twofold: to protect the sustainability of Christian education and to safeguard accountability for the resources entrusted to us.

Property and Capital Improvement Initiatives

Camp Development

Ongoing investments at Camp Victory Lake underscore our commitment to strengthening ministry through the development of sustainable and mission-focused facilities. As shown in the chart below, the largest portion of current construction is dedicated to the Trevor H.C. Baker Youth and Conference Center Pavilion ($2.2 million), which will serve as a central hub for camp meeting programs and conference-wide events. Complementing this effort are additional investments in camp development initiatives—such as electrical and Wi-Fi network enhancements ($352,532)—along with field restrooms ($98,880), motel improvements ($9,757), cabin renovations ($39,869), and the boys’ dormitory ($2,983). Altogether, these projects total $2.7 million and reflect steady progress toward transforming Camp Victory Lake into a first-class facility that will serve and bless our members and guests for years to come.

Headquarters and Facility Upgrades

Significant resources have also been allocated toward the renovation and modernization of our office headquarters. A total of $1.4 million has been budgeted for this project, which includes essential upgrades such as a new roof and façade, ADA-compliant restrooms, kitchen, updated building security access, enhanced office spaces, including a third-floor worship and multipurpose area. I am pleased to report that this project is approximately 80% complete.

In addition, in June 2024, the Conference celebrated the completion and official opening of the Daniel L. Honore Corporate Office Annex (Annex), strategically located adjacent to the headquarters on Merrick Boulevard. Repurposed from a residential property at a cost of $161,000, the Annex now provides essential office space to support staff growth and enhance operational efficiency.

Financial Operations

Since the last quadrennium, the Conference received clean audit opinions from the General Conference Auditing Service (GCAS) for the fiscal years 2020, 2021, 2022, and 2023. The 2024 audit is currently underway, and while not yet finalized, preliminary results indicate that the Conference remains financially sound.

Accounts Payable

At the last quadrennial session, it was reported that the Conference carried significant obligations on two of its largest payables. The first was Adventist Risk Management (ARM), the entity that administers insurance policies for the Conference corporation, churches, schools, and campground. As of December 31, 2020, the outstanding balance to ARM totaled $949,955. The second was the RCRP, which manages the defined benefit plan for vested retirees. On that same date, the obligation to RCRP stood at nearly $5 million.

I am pleased to report that as of June 30, 2025, the Conference remains current on all obligations to the RCRP. The outstanding balance to ARM has been reduced to $558,092, demonstrating continued progress in strengthening our balance sheet and honoring our commitments.

It is important to note, however, that challenges remain. Several churches continue to fall behind in paying their insurance premiums to ARM. In accordance with policy, when balances remain unpaid for six months, the liability is transferred to the Conference, thereby increasing the Conference’s payable to ARM while simultaneously increasing receivables from the delinquent churches. In July 2025, these transferred obligations totaled more than $1.4 million for 2024 alone. Conference administration remains actively engaged in working with local churches to recover these amounts and to promote more timely compliance going forward.

Salary and COLA Increases

Beginning in 2022 and continuing each year thereafter, the Conference has maintained base salary levels in alignment with the North American Division’s remuneration recommendations.

In 2024, the Conference implemented a significant cost-of-living adjustment—an increase of more than one-third—while maintaining a surplus operating budget. This action not only aligned with our commitment to prudent financial management but also reinforced our commitment to employee satisfaction and retention, particularly in the high-cost areas of New York City and Boston.

Key Indicators

The financial health of the Northeastern Conference can best be illustrated through a review of key financial ratios that measure liquidity, solvency, and operational strength. The following indicators provide an objective assessment of our ability to meet current obligations, sustain ministry initiatives, and position the Conference for long-term stability.

^{*Please note that the 2024 figures are unaudited.}

^{*Please note that the 2024 figures are unaudited.}

^{*Please note that the 2024 figures are unaudited.}

^{*Please note that the 2024 figures are unaudited.}

^{*Please note that the 2024 figures are unaudited.}

^{*Please note that the 2024 figures are unaudited.}

Net income for 2024 currently shows a deficit of $456,000. This number is preliminary and reflects incomplete year end entries. Once all adjustments are recorded, we expect the final audited results to be closer to prior years. For this reason, the 2021-2023 audited results provide the clearest picture of trend performance.

Strategic Outlook

As we look ahead, the Conference remains steadfast in its commitment to sound financial stewardship. At the same time, we continue to address ongoing challenges in our education system, the growth of outstanding receivables, and delays in insurance remittances from certain churches.

Looking ahead, one initiative under active consideration is the implementation of an automated expense submission system. This upgrade is designed to streamline financial processes, improve accuracy, and provide employees with a faster and more convenient experience for routine activities such as travel reimbursements.

Conclusion

In closing, we give thanks to God for His daily provisions, which continue to sustain this great Conference and to our congregations whose faithful support enables the fulfillment of our mission. Guided by disciplined financial management and a commitment to operational excellence, the Conference remains well-positioned to sustain its ministry, strengthen its impact, and advance the work entrusted to us.

The stewardship of this Conference is not the work of one, but of many. I am deeply grateful to my fellow officers, Dr. King and Dr. Delahaye, for their partnership and collaboration in the many responsibilities we share each day. I also wish to recognize my Executive Assistant, Debra Johnson, whose diligence, grace, and cheerful spirit consistently go above and beyond. To my dedicated treasury team, I offer my sincere thanks for your professionalism, faithfulness, and unwavering commitment to mission-driven service.

I also want to express heartfelt appreciation to our administrative team, whose dedication and support help shoulder the weight of responsibility in administration; to our department directors, whose leadership drives ministry initiatives forward; and to the members of the Executive Committee, whose wisdom, counsel, and governance provide guidance and accountability for the work we do together.

Finally, on a personal note, I would be remiss if I did not acknowledge my wife, Lorraine, and our children. Their love, patience, and behind the scenes support make it possible for me to serve in this demanding role with focus and faithfulness.