The General Conference Association
*Financial Statement Dec. 31, 1906
By I. H. Evans
General Conference Receipts and Disbursements for the Biennial Period Beginning Jan. 1, 1905, and Ending Dec. 31, 1906
RECEIPTS DISBURSEMENTS
Overdraft on Gen. Conf. Assn., Jan. 5, 1905 $2,252.16
Washington Building Fund $65,164.52 61,458.23
District of Columbia 14,531.11 12,983.04
Publishing houses 20,749.91 33,858.03
Conferences and tract societies 13,679.02 27,335.32
Specific and special accounts 39,193.64 35,134.11
Depositors 51,987.30 35,965.76
Expense 7,758.45
General Conference building 14,066.56
General Conference session (1905) 4,239.82 2,697.95
General Conference Association 8,878.50 59,225.53
General Conference Corporation 1,544.62 5,687.56
Haskell Home 2,750.68 4,265.81
Merchandise 12,195.15 12,147.54
Missionary Acre 1,171.21
Religious Liberty Bureau 5,660.46 1,332.15
Work for the colored people 13,092.14 11,100.25
From conferences for support of laborers 33,871.69
Laborers and mission fields 273,468.09
Missions 107,660.46
Annual offering 81,962.82
First-day offerings 46,413.21
Midsummer offering 18,845.75
Sabbath-school donations 66,145.45
Tithe 20,365.58
Second tithe 3,773.30
Orphanage fund 4,398.40 4,081.33
Loans 10,789.02 26,185.20
Pacific Press Fund 5,915.80 5,949.31
$150,000 fund 7,470.15 3,869.48
Cash on hand Dec. 31, 1906 21,627.85
$662,449.71 $662,449.71 Comparative Statement for the Biennial Period Jan. 1, 1905, to Dec. 31, 1906
Resources Jan. 1, 1905 $27,195.20
Resources Dec. 31, 1906 67,652.30
Gain in resources for biennial period $40,457.10
Liabilities Jan. 1, 1905 $71,831.43
Liabilities Dec. 31, 1906 38,398.75
Decrease in liabilities for biennial period $33,432.68
Gain in resources for the biennial period from Jan. 1, 1905, to Dec. 31, 1906 $40,457.10
Gain in decrease of liabilities for the biennial period from Jan. 1, 1905, to Dec. 31, 1906 33,432.68
Grand total gain for biennial period $73,889.78 The General Conference Association
Financial Statement Dec. 31, 1906
RESOURCES
Bills receivable $62,474.21
Echo Publishing Company 2,230.90
Evans, I. H., Trustee 2,757.70
New Zealand Tract Society 675.85
Real estate 5,818.60
Conferences 1,585.75
LIABILITIES
Bills payable $82,775.13
Deposits 850.50
Claremont Sanitarium 19.57
Dower, Amelia, estate 150.32
Evans, I. H., Administrator 281.00
General Conference Corporation 5,892.88
$89,969.40
Net deficit Dec. 31, 1906 $14,426.39
GAINS
General Conference Association Fund $2,607.38
Interest 3,227.50
Rent 44.68
Christian Record 24.26
LOSSES
Expense $33.25
Michigan Conference 40.00
Taxes 56.97
Notes not counted good 1,745.00
General Conference Assn. Library .45
$1,875.676Net gains $4,028.15
General Conference Corporation
Resources and Liabilities Dec. 31, 1906
RESOURCES
Real estate, Takoma Park (Inventory) $25,841.41
Bills receivable 118,116.75
General Conference Association 5,892.88
Ministry of Healing, initial expense 1,165.60
Relief Bureau expense 3,750.26
Southern Publishing Association 518.26
Washington Training College 1,351.25
Riggs National Bank 6,250.26
Cash on hand Dec. 31, 1906 102.00
Total resources $162,988.67
LIABILITIES
Bills payable $137,634.86
Accrued interest payable 617.96
Depositors' accounts 6,375.00
Total liabilities 144,627.82
Excess of resources over liabilities Dec. 31, 1906 $18,360.85
Loss and Gain Statement for the Biennial Period Jan. 1, 1905, to Dec. 31, 1906
### LOSSES
Expense $144.74
Interest 626.06
Insurance 747.35
Real estate (Battle Creek) 27,629.39
Total losses $29,147.54 GAINS
General Conference Corporation fund $15,534.87
Real estate (Takoma Park) 2,758.84
Total gains $18,293.71
Net loss for biennial period $10,853.83
NOTE.—The apparent loss on real estate of $27,629.39 was not a real loss. The General Conference Corporation bought this property for the debts of the International Medical Missionary and Training-school Association. The General Conference paid 43,292.25 for this property. It was then inventoried at $75,000, showing on the books a gain of the difference, $31,707.75. Later, when the General Conference sold this property to the American Medical Missionary College, it was sold for $47,370.61. As the property was inventoried at $75,000, it is evident that the books must show a loss of the difference between that and the inventoried price, of $27,629.39. Yet there was no real loss, as the conference sold the property for more than it paid for the same. The apparent loss is in book entries. The actual gains of the General Conference, the General Conference Association, and the General Conference Corporation for the biennial period ending Dec. 31, 1906, are as follows:—
General Conference $73,889.78
General Conference Assn. 4,028.15
General Conf. Corporation 16,775.56
Total gain $94,693.49 If we should write out the book entry loss of $27,629.39 on the Battle Creek College property, we would still have a net gain of $67,064.10 during the biennial period.
I. H. EVANS, Treasurer.