GENERAL BOARD OF GLOBAL MINISTRIES OF THE UNITED METHODIST CHURCH, INC. STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2024 AND 2023
2024
2023
ASSETS Cash and cash equivalents
$
7,919,398 5,421,173 8,838,482 2,114,597
$
8,745,932 6,228,873 5,811,703
Accrued World Service Fund allocation
Due from General Council on Finance and Administration
Due from related entities
289,655 512,437 887,057
Accounts receivable
662,105
Prepaid expenses and other assets
1,199,209
Investments
291,122,322 23,624,365 21,551,072 21,033,564 4,671,000 30,904,439
283,830,836 23,194,181 21,098,134 21,250,879 4,223,000 29,610,473
Restricted investments
Revolving loan fund held by Wesleyan Investive
Buildings and equipment, net
Beneficial interest in timberland forests
Perpetual trusts held by others
Total Assets
$ 419,061,726
$ 405,683,160
LIABILITIES AND NET ASSETS Liabilities: Accounts payable, accrued expenses and other liabilities
$
10,732,769 2,589,265
$
8,221,261 3,495,176
Grants and projects payable
Due to related entities Annuities payable Funds held for others
47,010 61,136
289,671 71,555
36,828,699
36,267,869
Total Liabilities
50,258,879
48,345,532
Net Assets: Without Donor Restrictions:
Invested in buildings and equipment
21,033,564 36,526,455
21,250,879 25,100,384
Designated for programs
Designated for missionaries including pension and health benefit costs
16,567,020
15,982,432
Contractually restricted reserve for Collins Pension Plan and Collins Health Benefits Trust
23,624,365 98,704,258
23,194,181 104,124,279
General operating fund
Total Without Donor Restrictions
196,455,662
189,652,155
With Donor Restrictions: Subject to purpose restrictions
17,016,492 155,330,693
16,976,113 150,709,360
Endowments and other perpetual gifts
Total With Donor Restrictions
172,347,185
167,685,473
Total Net Assets
368,802,847
357,337,628
Total Liabilities and Net Assets
$ 419,061,726
$ 405,683,160
The accompanying notes to the financial statements are an integral part of these statements. 3
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