Catholic churches profit under COVID PPP

[brewer]

While small businesses in the US suffer left and right, some closing, the catholic church actually increases their operating funds. This is just wrong.

Overall, the nation’s nearly 200 dioceses, where bishops and cardinals govern, and other Catholic institutions received at least $3 billion. That makes the Roman Catholic Church perhaps the biggest beneficiary of the paycheck program, according to AP’s analysis of data the U.S. Small Business Administration released following a public-records lawsuit by news organizations

Dioceses had billions, but received small business aid. Some 112 Roman Catholic dioceses in the U.S. collectively had over $10 billion in cash and other funds when they received at least $1.5 billion from the Paycheck Protection Program. An Associated Press investigation found the dioceses had more money available for expenses than they acknowledged in their financial statements. And despite the pandemic, those funds grew in many dioceses. Below is a sampling of dioceses and affiliated organizations.

Raleigh, N.C. PPP aid: $11 million
June 2019: Funds diocese disclosed $59M
June 2020: Funds diocese disclosed $68M
June 2019: What AP found $149M
June 2020: What AP found $170M

Louisville, Ky. PPP aid: $17 million
June 2019: Funds diocese disclosed $76M
June 2020: Funds diocese disclosed $77M
June 2019: What AP found $153M
June 2020: What AP found $157M

Charlotte, N.C. PPP aid: $8 million
June 2019: Funds diocese disclosed $24M
June 2020: Funds diocese disclosed $32M
June 2019: What AP found $107M
June 2020: What AP found $114M

Boston, Mass. PPP aid: $35 million
June 2019: Funds diocese disclosed $190M
June 2020: Funds diocese disclosed $209M
June 2019: What AP found $199M
June 2020: What AP found $233M

Orlando, Fla. PPP aid: $23 million
June 2019: Funds diocese disclosed $38M
June 2020: Funds diocese disclosed $32M
June 2019: What AP found $191M
June 2020: What AP found $192M

https://apnews.com/article/catholic-chur...16f04e37b2