How Could a Market Downturn Affect Catholic Giving? A Look at the Data

Washington D.C., Mar 20, 2020 / 03:01 am (CNA) – The coronavirus (COVID-19) pandemic is, by most accounts, leading the United States toward a financial crisis.

According to Bloomberg, the global pandemic has caused the biggest decline in consumer confidence in the US economy since October 2008. The S&P 500 economic index sits at its lowest level since 2017, unemployment is rising, and the Dow Jones Industrial Average is tumbling.

How might the market downturn affect how much US Catholics give to their parish and other Catholic causes?

While the economic outlook is changing day-by-day, two experts in fundraising for Catholic causes pointed to historical data that suggests that pastors and bishops ought not be reticent to continue fundraising efforts.

Steve Manno, managing director for CCS Fundraising, a firm that has fundraised for numerous U.S. Catholic dioceses, told CNA that while fundraising is difficult, pastors should not give up amid a market downturn.  ….

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