New report reveals post-pandemic financial landscape of US churches
News brief by FāVS News staff
A recent report on congregational finances unveiled key insights into the financial health of religious organizations after the COVID-19 pandemic.
Authored by the Hartford Institute for Religion Research staff, “Finance and Faith: A Look at Financial Health Among Congregations in a Post-Pandemic Reality” is based on nationally-representative survey data from 2020 and 2023. It highlights both challenges and opportunities facing faith communities across the nation.
“Many clergy leaders worry about the financial future of their congregation. Several stressors, such as rising inflation rates and changing service attendance patterns, exacerbate these concerns,” said Charissa Mikoski, visiting assistant professor of research at Hartford Institute. “However, creative thinking about the ways an organization’s mission can be funded and sustained into the future can be useful when facing these challenges.”
The study reveals a complex financial picture. The median congregational income reached a 15-year high of $165,000 in 2023. However, it falls short of keeping pace with inflation. Simultaneously, there’s been a surge in online giving, with nearly 70% of congregations now utilizing digital platforms.
Higher per capita income marks this trend, suggesting a positive impact on financial health. The report also shows 61% of religious leaders report their congregation to be in excellent or good financial health. This results in a significant increase from 2020.
The authors conclude one thing for certain in post-pandemic congregations. “This is a time of challenge and transition which requires creative thinking about the ways an organization’s mission can be funded and sustained into the future.”
View the full report here.
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